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Finovate Alumni News– April 15, 2014

By David Penn Posted on April 15, 2014
Categories: CardFlight, HelloWallet, Insuritas, TransferWise

TransferWise announces more than $1 billion in P2P transfers.Insuritas picked by Nutmeg State Federal Credit Union to open and manage its turnkey insurance agency. See Insuritas demo at FinovateSpring in San Jose.Streetwise reports: HelloWallet Signs Another Big Deal with Aon Hewitt.CardFlight wins Electronic Transactions Association's 2014 Technology Innovation Award.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.

Mobile PFM: Tracking Automobile Trips

By Jim Bruene Posted on April 14, 2014
Categories: Auto Financing, Mobile Banking, Personal Financial Management

Last week, MileIQ cracked the top-50 in Apple's "Finance | Free" category. Think of it as Fitbit for cars, running in the background automatically logging all car trips (and killing battery life). At the end of each trip, users categorize the trip by swiping left for personal or right for business (see screenshots below). Users can also annotate transactions by "flipping" them over and typing basic details (see screenshot 2 below). That's basically all there is to the mobile part. Users go to the companion desktop dashboard (screenshot #5) to further categorize trips, stitch the various segments into a single trip, delete items, add parking and toll fees, edit the tags, manually add a trip and create reports. You can also create a quick email report at the push of button from within the app (screenshot #6). It's free for 40 trips per month, but then costs $5.99/mo or $60…

SeedInvest Raises $2 Million in Crowdfunded Investment Campaign

By David Penn Posted on April 14, 2014
Categories: SeedInvest

Crowdfunder, fund thyself.That's the strategy of crowd funding specialist, SeedInvest, which announced today that it is seeking to raise the balance of its $3 million Series A round from its own community of investors.SeedInvest co-founder and CEO Ryan Feit explained: "Given that SeedInvest allows individuals to invest alongside VCs, we decided to eat our own dog food and hold the last millions for our own investors."SeedInvest has $2 million already invested, courtesy of investors such as Archer Gray, Avenue A Ventures, Great Oaks Venture Capital, Krillion Ventures, and Scout Ventures. The company is gearing up to take advantage of a key feature of the JOBS Act that will allow non-accredited investors to participate in crowd funding platforms like SeedInvest later this year. Feit pointed specifically to the new funding as enabling the company to service what he expects to be a significant increase in the number of potential new investors.An…

Finovate Alumni News– April 14, 2014

By Julie Muhn (@julieschicktanz) Posted on April 14, 2014
Categories: Dashlane, FIS, Ignite Sales, Ripple, SeedInvest, TradeHero

PYMNTS looks at how Ripple hopes to build a global payments network.Android Headlines reviews TradeHero.FIS acquires CMSI, provider of consumer loan origination and portfolio management software.CNBC's Squawk on the Street interviews Dashlane CEO Emmanuel Schalit on Heartbleed.SeedInvest raises $2 million in crowd funded investment campaign.Ignite Sales wins 2014 Monarch Award for its Profitability Dashboard for OmniChannel Measurement.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.

Finovate Alumni News– April 11, 2014

By David Penn Posted on April 11, 2014
Categories: Betterment, Bill.com, Birdback, Blackhawk Network, FIS, Guardian Analytics, HelloWallet, Jumio, Kabbage, Lighter Capital, PayPal, ZenPayroll

FinovateSpring 2014 Sneak Peek: Part 6 is now up.Jumio partners with IdentityMind to provide anti-money-laundering Bitcoin compliance for exchanges.FIS launches GenNOW to make it easier for mobile and prepaid card users to access their funds from FIs.Aon Hewitt and HelloWallet partner to help employers bring financial wellness to their workforce.PayPal partners with Samsung to enable users to pay with their fingerprint, launches app for smartwatches.Blackhawk Network recognized for Best Prepaid Innovation at Innovation Project 2014 conference awards.CU Times looks at Citizens Business Bank's success with Guardian Analytics' fraud prevention tools.App Developer Magazine looks at Lighter Capital's RevenueLoan.Birdback and Affiliate Window bring the ease of online offers to offline retailers based in Europe.Betterment's mobile app makes mobile PIN login available for users.Bill.com wins Monarch Innovation Award in Innovative Industry Partner category.BizJournals profiles Kabbage co-founder and COO, Kathryn Petralia.American Express Open Forum takes a look at ZenPayroll. See them demo at FinovateSpring in San…

FinovateSpring 2014 Sneak Peek: Part 6

By David Penn Posted on April 10, 2014
Categories: Avoka, Coinbase, CUneXus Solutions, FinovateSpring 2014, FinovateSpring 2014 Sneak Peek, OnBudget, Spreedly, Sureify, TrueLink Financial, WePay

Welcome to the finale of our FinovateSpring 2014 Sneak Peek series. If you're just joining us, then you might want to check out the previous five installments of our Sneak Peek (see below). There's no better way to get to know the entrepreneurs and innovators who will be demoing on the Finovate stage on April 29 and 30 in San Jose.You can find out more about our upcoming event - including our new location and locale - on our FinovateSpring 2014 page here.Today we wrap up the series with eight more companies, starting with transaction management specialist Avoka and ending with WePay, an innovator in risk analysis for merchants, crowdfunders, and software makers. In between, we'll talk security and digital currencies, alternative lending and credit decisioning, credit card vaults and Insurance Buying 3.0.Enjoy!Sneak Peek #1Sneak Peek #2Sneak Peek #3Sneak Peek #4Sneak Peek #5Avoka TransactWEB - an Omni-Channel 2.0 customer transaction…

Finovate Alumni News– April 10, 2014

By David Penn Posted on April 10, 2014
Categories: Banno, Dynamics, Wipit

Boost Mobile waiving check loading, money transfer fees for its Wipit-powered mobile wallet through September.Banno CEO Wade Arnold wins CEO of the Year award from Technology Association of Iowa.CBS News takes a look at Dynamics' "credit card with a keypad."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.

Apply to Demo Your Latest FinTech Innovation at FinovateFall 2014

By Eric Mattson Posted on April 9, 2014
Categories: FinovateSpring 2014

With the presenter roster set for FinovateSpring, we've begun our global search for the financial technology innovations that will be showcased at FinovateFall 2014 on September 23 & 24 in New York City. Last year, FinovateFall welcomed a sold-out crowd of more than 1,100 executives who witnessed 69 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 [email protected] 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 a few…

Apply to Demo Your Latest FinTech Innovation at FinovateFall 2014

By Eric Mattson Posted on April 9, 2014
Categories: Uncategorized

Kabbage Brings in $270 Million in Debt Financing to Provide Small Businesses with Funding of Their Own

By Julie Muhn (@julieschicktanz) Posted on April 9, 2014
Categories: Funding, Kabbage

Further highlighting Forbes' point that the traditional banker is dead, small business financing company Kabbage announced today it received a revolving, 3-year line of debt financing, totaling $270 million.The funds, which were provided by Guggenheim Securities, will be used to supply small businesses with working capital, both in the U.S. and internationally.This new installment comes a year after the Atlanta-based company received $75 million in debt financing from Victory Park Capital and Thomvest Ventures.Kabbage has seen an increasing demand for small business financing, both for web-based businesses and brick-and-mortar stores. The Wall Street Journal commented on its growth, reporting:"In the last 15 or so months, default rates have dropped by more than 50%.... while Kabbage's business has grown five-fold. The company aims to provide $1 billion in credit to businesses next year."Rob Frohwein, CEO, hinted that growth has been so dramatic that the company expects to pull in more financing soon.…

OTP Banka Slovakia to Deploy CRIF Credit Framework

By David Penn Posted on April 9, 2014
Categories: CRIF

Add one more bank to the hundreds of financial institutions in more than 20 countries currently relying on CRIF to manage their lending business.OTP Banka Slovakia announced this week that it was deploying the CRIF Credit Framework, replacing its old loan approval system with a technology that represents "global best practices in lending processes and risk assessment," according to bank CRO, Peter Leško.In addition to the technology itself, CRIF's experience in helping banks make the transition to more sophisticated loan origination and credit management solutions also helped OTP Banka Slovakia make the switch. Leško cited CRIF's "flexible software framework" and the company's ability to "act on site in local language" as key to providing both the support and the independence the bank wants.This last point echoes what we heard from CRIF in the days leading up to their Finovate debut in February at FinovateEurope 2014. "Banks are more and more…

Finovate Alumni News– April 9, 2014

By Julie Muhn (@julieschicktanz) Posted on April 9, 2014
Categories: Billhighway, CardFlight, CRIF, LendUp, MiiCard, Oink, ProfitStars, Rippleshot

Michigan Education Association selects Billhighway to improve membership experience.ProfitStars' iPay Solutions Resource Center receives NACHA's 2014 PayItGreen Award.miiCard launches IDaaS for Lenders, a solution that combines ID proofing, bureau data, bank data, & authentication.CardFlight launches SwipeSimple to offer a co-branded mobile POS product to merchants.LA Parent features Oink among its "Cool Tools."OTP Banka Slovakia to deploy CRIF Credit Framework.LendUp launches in Mississippi, the state with the highest percentage of unbanked and underbanked households in the U.S.Rippleshot CEO Canh Tran to join Chicago-area startups at White House summit on entrepreneurialism. See Rippleshot demo at FinovateSpring in San Jose.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.