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IntelliResponse Adds 155th Customer and First Credit Union

By David Penn Posted on April 4, 2013
Categories: IntelliResponse

You know the saying: the 155th one is the charm …

IntelliResponse announced today that the company had added its 155th customer, Evangelical Christian Credit Union (ECCU). The credit union also has the distinction of being the first to deploy IntelliResponse’s enterprise-level, virtual agent solution.

The credit union plans to use IntelliResponse’s Virtual Agent platform in its call center environment, as well as on ECCU’s website and social media channels. Reducing time spent training new agents and lowering overall call center costs are among the major goals of the deployment.

Founded in 1964 and headquartered in Brea, California, Evangelical Christian CU provides both personal and ministry banking. A few key metrics as of December 2012 include:

More than $1.1 billion in assets
More than 12,000 members
More than 1,800 commercial clients

IntelliResponse’s technology allows customers to use their own natural, conversational language to ask questions of virtual agents. The technology has more than 365 live implementations responding to more than 100 million inquiries each year.

See IntelliResponse in action at FinovateSpring this May in San Francisco. For more information, including details on how to save your spot, click here.

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Apply to Demo Your Latest FinTech Innovation at FinovateFall 2013

By Eric Mattson Posted on April 4, 2013
Categories: Uncategorized

With the presenter roster set for FinovateSpring, we’ve begun our global search for the financial technology innovations that will be showcased at FinovateFall 2013 on September 10 & 11 in New York City.

Last year, FinovateFall welcomed a record crowd of 1,100 executives who witnessed 64 new fintech innovations debut via our signature demo-only format.

This fall, based on the early interest, we expect the auditorium to be just as packed and to showcase even more great innovations than last year.

If your company is interested in debuting your latest and greatest at the premier event for fintech innovation, please email us at fall@finovate.com for more details.

If you’re interested in attending FinovateFall to watch the future of fintech unfold live on stage, tickets are now on sale for the event at the lowest price that we’ll offer.

We’ll see you in New York in September (or San Francisco in May)!

FinovateFall 2013 is sponsored by: The Bancorp, Financial Technology Partners, Hudson Cook LLP and Visa

FinovateFall 2013 is partners with: BankersHub, California Bankers Association, Celent, Filene Research Institute & Finance on Windows

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Finovate Alumni News– April 4, 2013

By Julie Muhn (@julieschicktanz) Posted on April 4, 2013
Categories: eToro, FamZoo, Giftly, Jack Henry, Kabbage, Kashoo, Monitise, Nutmeg, ShopKeep POS, Virtual Piggy

Kabbage brings in $75 million in debt financing.

Finextra reports: eToro launches social alerts app.

PaymentEye features Virtual Piggy. Come see its live demo at FinovateSpring next month. http://bit.ly/Zaunjl

InternetRetailer previews Giftly.

Business Solutions speaks with Jason Richelson, ShopKeep POS CEO, who debunks the myth that cloud POS fails when the internet shuts down.

TechCrunch TV interviews Nick Hungerford, Nutmeg CEO on how he aims to disrupt the financial investment world.

Verity CU features FamZoo, makes it available to members. Come see FamZoo’s latest development at FinovateSpring.

Kashoo releases new version of iPad app.

Monitise Executive Vice President Lisa Stanton interviewed by Bdaily.

Jack Henry & Associates’s Symitar platform to be deployed by Kitsap Credit Union.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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FinovateSpring 2013 Early-Bird Deadline is Friday April 5th — Register Now to Save!

By Eric Mattson Posted on April 3, 2013
Categories: Uncategorized

FinovateSpring 2013 is just 6 weeks away and the event is on track to be our biggest showcase of financial technology innovation ever (register here before early-bird tickets are gone).

We’ve just announced the roster of innovative presenters that will take the stage to debut their latest and greatest via our fast-paced signature format. Each company will have only seven minutes and no slides to wow the crowd. And each day the demos will be followed by several hours of intimate networking with the entrepreneurs and CEOs who were just on stage.

This year’s audience is on pace to beat last year’s record of 1,200 and is packed with the movers and shakers of fintech innovation.

A small sample of the attending organizations includes:

American Banker
American Express
Artiman Ventures
Arvest Bank
Bain Capital Ventures
Baird Capital
BancVue
Bank of America
Bank of the West
Bank Respublika
Barclays
BBH Capital Partners
BBVA Compass
BBVA Ventures
Benchmark Capital
Billings Federal CU
BlackRock
BMO Financial Group
Capital One
CEB TowerGroup
Charles Schwab
Chase Paymentech
CIBC
Citi
Citi Ventures
City Bank
City National Bank
CommunityAmerica CU
comScore
Core Innovation Capital
Credit Union Central of Canada
Crosslink Capital
CUNA Mutual Group
DailyWorth
Deluxe Corporation
Deutsche Bank
Discover Financial Services
Dow Jones
EverBank
Experian
Federal Reserve Bank of Chicago
Fidelity Investments

Filene
First Data Corp
First National Bank of Omaha
First Republic Bank
FirstBank
FIS Global
Fiserv
FT Partners
Fujitsu Research Institute
Gartner
GRP Partners
H&R Block
Hudson Cook, LLP
Intuit
Jack Henry & Associates
Javelin Strategy & Research
Jyske Bank
KeyBank
La Poste
MasterCard Worldwide
McKinsey and Company
Mechanics Bank
Menlo Ventures
Mergermarket
Microsoft
MicroStrategy
Mohr Davidow Ventures
Montecito Bank & Trust
Mooreland Partners
Mountain America CU
Navigant Credit Union
New Enterprise Associates
Norwest Venture Partners
Novarica
Ohio Valley Bank
Omidyar Network
PayPal
PNC Bank
PostFinance

Principal Financial Group
ProfitStars
PSCU
QED Investors
Razorfish
RBC Capital Markets
Redpoint Ventures
Redwood CU
Royal Credit Union
RRE Ventures
RushCard
Sallie Mae
San Antonio FCU
SF Police Credit Union
Silvergate Bank
Simplicity Bank
Smart Financial Credit Union
SourceMedia
Stanford FCU
Star One Credit Union
Susquehanna Growth Equity
SVB
Symitar
TD Ameritrade
TD Bank
The Bancorp
Thomvest Ventures
TIBCO Software
TSYS
TTV Capital
U.S. Bank
UK Trade & Investment
Umpqua Bank
USAA
UW Credit Union
VentureBeat
Visa
Wells Fargo
Western Union
Westerra Credit Union
Yahoo!
Zions Bancorporation

If you’d like to watch the future of fintech unfold live on stage at FinovateSpring and network with over 1,200 fellow innovators, early-bird tickets are on sale through April 5th (this Friday). Please register soon to lock in your seat and these savings.

We’ll see you in San Francisco in May!

FinovateSpring 2013 is sponsored by: Financial Technology Partners, Hudson Cook LLP, Intuit Partner Platform, Microsoft Advertising, The Bancorp, Think! Finance, Visa & Yodlee

FinovateSpring 2013 partners include: BankersHub, Bay Area FinTech Startups, BayPay Forum, California Bankers Association, Celent, Filene Research Institute & Finance on Windows

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FinovateSpring 2013 Early-Bird Deadline is Friday April 5th — Register Now to Save!

By Eric Mattson Posted on April 3, 2013
Categories: Uncategorized

FinovateSpring 2013 is just 6 weeks away and the event is on track to be our biggest showcase of financial technology innovation ever (register here before early-bird tickets are gone).

This year’s audience is on pace to beat last year’s record of 1,200 and is packed with the movers and shakers of fintech innovation.

A small sample of the attending organizations includes:

American Banker
American Express
Artiman Ventures
Arvest Bank
Bain Capital Ventures
Baird Capital
BancVue
Bank of America
Bank of the West
Bank Respublika
Barclays
BBH Capital Partners
BBVA Compass
BBVA Ventures
Benchmark Capital
Billings Federal CU
BlackRock
BMO Financial Group
Capital One
CEB TowerGroup
Charles Schwab
Chase Paymentech
CIBC
Citi
Citi Ventures
City Bank
City National Bank
CommunityAmerica CU
comScore
Core Innovation Capital
Crosslink Capital
CUNA Mutual Group
DailyWorth
Deluxe Corporation
Deutsche Bank
Discover Financial Services
Dow Jones
EverBank
Experian
Federal Reserve Bank of Chicago

Fidelity Investments
Filene
First Data Corp
First National Bank of Omaha
First Republic Bank
FirstBank
FIS Global
Fiserv
FT Partners
Fujitsu Research Institute
Gartner
GRP Partners
H&R Block
Hudson Cook, LLP
Intuit
Jack Henry & Associates
Javelin Strategy & Research
Jyske Bank
KeyBank
La Poste
MasterCard Worldwide
McKinsey and Company
Mechanics Bank
Menlo Ventures
Mergermarket
Microsoft
MicroStrategy
Mohr Davidow Ventures
Montecito Bank & Trust
Mooreland Partners
Mountain America CU
Navigant Credit Union
New Enterprise Associates
Norwest Venture Partners
Novarica
Ohio Valley Bank
Omidyar Network
PayPal
PNC Bank
PostFinance

Principal Financial Group
ProfitStars
PSCU
QED Investors
Razorfish
RBC Capital Markets
Redpoint Ventures
Redwood CU
Royal Credit Union
RRE Ventures
RushCard
Sallie Mae
San Antonio FCU
SF Police Credit Union
Silvergate Bank
Simplicity Bank
Smart Financial Credit Union
SourceMedia
Stanford FCU
Star One Credit Union
Susquehanna Growth Equity
SVB
Symitar
TD Ameritrade
TD Bank
The Bancorp
Thomvest Ventures
TIBCO Software
TSYS
TTV Capital
U.S. Bank
UK Trade & Investment
Umpqua Bank
USAA
UW Credit Union
VentureBeat
Visa
Wells Fargo
Western Union
Yahoo!
Zions Bancorporation

We’ll see you in San Francisco in May!

FinovateSpring 2013 is sponsored by: Financial Technology Partners, Hudson Cook LLP, Intuit Partner Platform, Microsoft Advertising, The Bancorp, Think! Finance, Visa & Yodlee

FinovateSpring 2013 partners include: BankersHub, Bay Area FinTech Startups, BayPay Forum, California Bankers Association, Celent, Filene Research Institute & Finance on Windows

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Braintree Launches Venmo Payments to Help Small Businesses Pay Contractors, Partners with TaxCloud

By Julie Muhn (@julieschicktanz) Posted on April 3, 2013
Categories: Braintree

Last week, online payments solutions company Braintree announced the beta launch of Venmo Payouts. This new service provides small businesses with an API to help them pay multiple independent contractors.

The API removes checks from the payment process, enabling small businesses to pay their contractors via email or a phone number. In turn, the contractors receive payment in their account by the following day.

It’s priced at 25 cents per payment, but it lessens small businesses’ accounting headaches and helps contractors get paid more quickly.

Braintree acquired New York-based Venmo for $26 million in August of last year.

Additionally, the Chicago-based company announced a partnership with TaxCloud, a tax management service for online retailers. This partnership will provide Braintree merchants a free way to collect and manage sales tax online.

Braintree demoed at FinovateSpring 2011 and will be on the FinovateSpring stage next month in San Francisco.

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OpenCoin Acquires SimpleHoney

By David Penn Posted on April 3, 2013
Categories: OpenCoin

Terms have not been disclosed. But the four-person SimpleHoney team will be joining OpenCoin’s 12-person crew in an effort to make OpenCoin’s virtual currency system simpler and more accessible for the average consumer.

OpenCoin is the company behind Ripple, an open source payment system developed by self-described “Bitcoin Enthusiasts”. SimpleHoney was launched in the spring of 2012 as a source for hotel recommendations based on the traveler’s personality and preferences. Since then, SimpleHoney has become better known for its “I Want Wish List” wish list app.

SimpleHoney’s ability to develop user-friendly technologies is one of the reasons for the acquisition, according to SimpleHoney co-founder Joyce Kim. Indeed, the SimpleHoney team will serve as OpenCoin’s “consumer engagement” group, focusing on usability issues.

OpenCoin will be presenting in San Francisco in May as part of FinovateSpring 2013. To learn more about the event, and to find out how to reserve your spot, click here.

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Kabbage Brings in $75 Million in Debt Financing

By Julie Muhn (@julieschicktanz) Posted on April 3, 2013
Categories: Kabbage

Kabbage, a startup that provides working capital to online merchants in the U.S. and U.K., announced today it received $75 million in debt financing.

Victory Park Capital led the round. Existing investor, Thomvest Ventures, also contributed.

According to Crunchbase, from 2010 to 2011 the Atlanta-based startup received almost $17 million in debt financing.

It has also raised more than $53 million in equity funding, including:

Venture Round, $6.65 million

Closed: January 2011

Investors:

BlueRun Ventures
David Bonderman
Warren Stephens
UPS Strategic Enterprise Fund

Series B, $17 million

Closed: August 2011

Investors:

Mohr Davidow Ventures
BlueRun Ventures
Warren Stephens
UPS Strategic Enterprise Fund
Jim McKelvey

Series C, $30 million

Closed: September 2012

Investors:

Thomvest Ventures
UPS Strategic Enterprise Fund
Mohr Davidow Ventures
BlueRun Ventures
Warren Stephens
David Bonderman
SV Angel

According to TechCrunch, Kabbage’s new debt funding is due to the massive growth it has seen recently. It has extended more than 60,000 advances, which have quadrupled in volume year-over-year.

To learn more about Kabbage, watch its FinovateEurope 2013 demo.

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Finovate Alumni News– April 3, 2013

By Julie Muhn (@julieschicktanz) Posted on April 3, 2013
Categories: Allied Payment Network, BBC Easy, Cardlytics, Cartera Commerce, edo Interactive, eWise, Fiserv, Flint Mobile, Holvi, IntelliResponse, Kiboo, Mint.com, Monitise, Moven, Narrative Science, OpenCoin, Pageonce, PayPal, ProfitStars, TSYS

Tech Dirt looks at Narrative Science’s role in algorithmically-generated journalism. Come See Narrative Science at FinovateSpring.

Bdaily talks with Monitise EVP, Lisa Stanton, about mobile banking.

Numerica Credit Union adopts BBC Easy’s C&I Lending program.

CU Times reports Fiserv’s Spot Pay offers CUs a co-branded mobile payment platform and dongle.

Forbes looks at the growth of edo, Cardlytics, and Cartera Commerce and how card-linked offers are better than daily deals.

TechCruch reports OpenCoin has acquired SimpleHoney. See OpenCoin demo at FinovateSpring in May.

ProfitStars launches BillSimple from iPaySolutions.

TSYS to present at annual card forum and expo in April.

IntelliResponse adds 155th customer, the company’s first credit union.

Convenience Store Decisions notes the growing role of mobile payment options such as PayPal and Flint Mobile.

FIS, Open Solutions veteran Gary Daniel to join Allied Payment Network. Join them in San Francisco for FinovateSpring.

Banking Technology looks at eWise, Pageonce, Mint.com, Kiboo, Holvi, & Moven as PFM resurgence examples.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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New Issue Published: The Finovate Quarterly from Online Banking Report

By Jim Bruene Posted on April 2, 2013
Categories: FinovateEurope 2013, Online Banking Report

For the past year, we’ve been publishing a wrap-up of each Finovate event. Since there is now a Finovate every quarter, we are rolling event coverage into a quarterly publication and expanding it to include other significant fintech developments.

The Finovate Quarterly is complimentary for Online Banking Report subscribers and is automatically delivered to them via mail. Anyone else can purchase here.

The report focuses primarily on the highlights from FinovateEurope, including profiles of the Best of Show winners:

Credit-Agricole for its app store where it is wooing outside developers
ETRONIKA for its BANKTRON e-channel management platform
mBank with Efigence for their Facebook & social platform
Meniga for its PFM platform, including “buy” vs “not buy” feature
Moven (Movenbank) for the worldwide launch of its mobile-optimized bank
Pockets United for its group purchasing mobile solution
SumUp for its mobile point-of-sale system
Virtual Piggy for its kids’ payment system with parental controls

The report also contains a run-down of the quarterly highlights and milestones at Finovate alums and other fintech companies.

__________________________________________________________________

About the report
__________________________________________________________________

Finovate Quarterly (link)
Highlights of Q1 2013, including a look at the best new products from FinovateEurope

Author: Julie Schicktanz & David Penn, Finovate Group Research Analysts
Editor: Jim Bruene, Finovate Group Founder

Published: 31 March 2013

Length: 64 pages; 10,000 words

Cost: No extra charge to OBR subscribers, US$150 for others here
The printed version will be mailed to subscribers next week.

_________________________________________________________________

Note:
1. See Best of Show methodology here.

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Credit Karma Brings in $30 Million in Series B Funding, Launches PFM Option

By Julie Muhn (@julieschicktanz) Posted on April 2, 2013
Categories: Credit Karma

Credit monitoring and reporting company, Credit Karma announced today that it raised $30 million in Series B funding.

This new round, which is 10 times more than the San Francisco-based company’s Series A round closed in 2009, was led by Ribbit Capital. Other investors include:

Susquehanna Growth Equity
Felicis Ventures (existing investor)

TechCrunch reports that with this new funding, Credit Karma plans to almost double its staff by the year’s end and develop new products and services, which it is doing this week with the launch of Insight.

Insight is an expansion of Credit Karma’s services that provides consumers with a Mint-type view of their finances that they can view all in one place (see screenshot below).

Credit Karma demoed at FinovateStartup 2009.

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Quantopian Launches “Bring Your Own Data” Service with Fetcher

By David Penn Posted on April 2, 2013
Categories: Quantopian

Quantopian has announced a new feature called Fetcher, which allows traders and algorithm builders to import their own data series into the platform.

With Fetcher, algo builders will be able to expand their focus beyond the world of stocks to include almost any imaginable time-series information. Curious about the impact of unemployment among young professionals on the hospitality industry? How about the correlation between the price of gold bullion and the share values of gold mining companies? Quantopian’s Fetcher may be for you.

Quantopian offers programming-savvy traders (and trading-savvy programmers) a browser-based algorithmic trading platform. Along with a sophisticated backtester, the platform makes it possible for users to build the kind of quantitative trading algorithms often only available to hedge fund money managers and institutional investors.

The company raised more than $2 million in seed capital in January from Stark Capital and GETCO. According to Quantopian, the company’s users have completed more than 87,000 years worth of backtests.

Quantopian is one of the companies that will be presenting at FinovateSpring this May in San Francisco. To learn more about our upcoming Spring event, and how to save your spot to see companies like Quantopian in action, click here.

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