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Finovate Alumni News– January 3, 2013

By David Penn Posted on January 3, 2013
Categories: Akamai, Flint Mobile, Klarna, PayPal, planwise, QuantConnect, ShopKeep POS, Tuition.io

Internet Marketing For Small Business likes how Flint leverages the camera for mobile payments.

Lithium Knowledge Center shares tips on configuring Klarna.

Entrepreneur interviews Jason Richelson, founder of New York-based ShopKeep POS, a cloud-based system.

Clover raises $3.3 million from undisclosed investors.

Tuition.io exits private beta, aims to make student loan management easier.

Planwise releases first mobile app.

The Boston Globe takes a look at Tom Leighton, the new CEO at Akamai.

Techie Insider looks at how PayPal mobile payments can benefit your church.

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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Zions Bank Supports its Brand with Holiday Graphics

By Jim Bruene Posted on January 2, 2013
Categories: Holiday promotions, Zions Bank

Before we move on to more weighty matters, here’s one last example from Holiday 2012. Zions Bank had the most decked out website we’ve observed in the past two weeks. Because it ranks just outside the 20 largest U.S. banks, it didn’t make last week’s holiday roundup. But since it was so decked out, I thought it was worth a followup.

On New Years Day, Zions had holiday-related messages playing on three of its six rotating homepage themes.

EZ Budget, its budgeting tool that helps track and manage spending for an event (previous coverage of the tool)
General mobile banking pitch with a “tracking holiday spending” use case
Happy New Year greeting

Bottom line: Without breaking the bank, Zions projects a timely, modern look that supports its brand.

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Zions Bank hompage featuring EZ Budget spending tracker (1 Jan 2012)

Zions Bank homepage featuring mobile banking wrapped in holiday theme

Zions Bank homepage with “Happy New Year” greeting

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2012 Funding for Finovate Alumni– More than $450 Million Raised

By David Penn Posted on January 2, 2013
Categories: ActivePath, Affinity Solutions, Arroweye Solutions, Banno, Bazaarvoice, Betterment, Boku, Braintree, Capital Access Network, Cartera Commerce, CashStar, Continuity Control, Controlabill, Credit Sesame, Currensee, DemystData, DoughMain, Dwolla, edo Interactive, eToro, Finsphere, FreeMonee, FutureAdvisor, Fuze Network, HelloWallet, Jemstep, Jingit, Kabbage, Kony Solutions, Lending Club, MiiCard, Nutmeg, Pindrop Security, planwise, SaveUp, SecureKey, ShopKeep POS, SoMoLend, The Currency Cloud, ThreatMetrix, Waspit, Xero, Yodlee, Zopa

Here is a list of all the funding Finovate alumni received over the course of 2012.

After an impressive 2011, where more than $423 million was raised, 2012 was even better, with more than $450 raised.

A few stand-out metrics for the year:

A total of 44 companies received funding, some more than once in 2012
Combined, more than $450 million was raised
The best quarter for raising capital was the first quarter when more than $150 was raised
The biggest funding month this year was March, with more than $68 million raised by three companies

Here is a month-by-month breakdown of funding received.

January — $25 million raised by 3 companies

Currensee: $2 million — blog post

Finsphere: $11.3 million — blog post

HelloWallet: $12 million — blog post

February — $57 million raised by 5 companies

Capital Access Network: $30 million — blog post

Dwolla: $5 million — blog post

Jemstep: $6 million — blog post

Kabbage: undisclosed — blog post

Xero: $16.6 million — blog post

March — $68 million raised by 3 companies

Boku: $35 million — blog post

eToro: $15 million — blog post

ThreatMetrix: $18 million — blog post

April — $2.5 million raised by 1 company

miiCard: $2.5 million — blog post

May — $55.5 million raised by 5 companies

Kony: $15 million – blog post

Pindrop Security: $1 million — blog post

SecureKey: $30 million — blog post

SoMoLend: $1.17 million — blog post

Yodlee: $8.3 million — blog post

June — More than $62 million raised by 8 companies

Affinity Solutions: $14.5 million — blog post

Arroweye Solutions: $3 million — blog post

Cartera Commerce: $12.2 million — blog post

Credit Sesame: $12 million — blog post

Doughmain: undisclosed — blog post

Lending Club: $15 million — blog post

Nutmeg: $5.3 million — blog post

Planwise: $200,000 — blog post

July — $6 million raised by 2 companies

Continuity Control: $1 million — press release

SaveUp: $5 million — blog post

August — More than $49 million raised by 6 companies*

DemystData: undisclosed — blog post

FutureAdvisor: $5 million — blog post

FreeMonee: $34 million — blog post

The Currency Cloud: $3.1 million — blog post

CashStar: $5 million — blog post

Continuity Control: $2.25 million — blog post

September — More than $59 million raised by 5 companies

Banno: $2 million — press release

Betterment: $10 million — press release

Edo Interactive: $15 million — press release

Fuze Network: $2.5 million — press release

Kabbage: $30 million — blog post

October — $37 million raised by 2 companies

The Currency Cloud: $1.9 million — blog post

Braintree: $35 million — blog post

November — More than $23 raised by 4 com
panies

ActivePath: $10 million — blog post

Jingit: $7 million — blog post

Bazaarvoice: $6.7 million — blog post

Xero: $49 million — blog post

December — More than $16 million raised by 4 companies

Waspit: $3 million — blog post

Controlabill: $570,000 (A$600,000) — blog post

Zopa: undisclosed — blog post

ShopKeep POS: $10 million – blog post

Clover Networks: $3.3 million – blog post

*In addition to the companies listed for August, On Deck Capital raised $100 million in credit facility commitments.

Note: Funding that companies received before they demonstrated at Finovate was not counted. Questions? Comments? E-mail us at Julie@Finovate.com or David@Finovate.com.

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Clover Raises $3.3 Million From Undisclosed Investors

By Julie Muhn (@julieschicktanz) Posted on January 2, 2013
Categories: Clover Network

Last month, point of sale payment system, Clover, filed an SEC form indicating it raised $3.3 million for its cloud-based POS system. VentureBeat first picked up the story on Thursday.

The investors in this round have not yet been disclosed.

This new round, combined with last March’s installment of $5.8 million from Andreessen Horowitz and Sutter Hill Ventures, brings the California-based company’s total funding up to almost $10 million.

To learn more about Clover, watch its FinovateSpring 2012 demo.

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Tuition.io Exits Private Beta, Aims to Make Student Loan Management Easier

By Julie Muhn (@julieschicktanz) Posted on January 2, 2013
Categories: Tuition.io

Student loan repayment platform, Tuition.io, launched to the public today.

During a four month private beta period, the

SantaMonica-based startup helped 1,500 users from more than 130 different universities manage a combined $100 million in debt from 10,000 student loans.

Along with the public beta, Tuition.io introduced EasyOptimize, a feature that suggests products to help users pay off their loans faster.

It also announced two partners to help build an audience for the platform:

Student Veterans of America
OurTime.org

According to PandoDaily, additional high-profile partnerships are in the works.

To learn more about Tuition.io, watch its FinovateFall 2012 demo.

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Finovate Alumni News– January 2, 2013

By Julie Muhn (@julieschicktanz) Posted on January 2, 2013
Categories: Andera, Banno, Betterment, Billhighway, Dwolla, Dynamics, Entrepreneurial Finance Lab, Expensify, Experian, Flint Mobile, Geezeo, Ixaris, Locaid, Mint.com, MoneyDesktop, Pageonce, PayPal, PlayMoolah, smartcredit.com, Sports Lever, TSYS, WattzOn, Wonga, Yodlee

American Banker features Banno CEO Wade Arnold, calling him a “coder in the cornfields.”

American Banker names PayPal and Wonga 2 of 8 non-banks to watch in 2013.

Mint.com encourages users to add goals by holding $500 sweepstakes.

Deccan Herlad examines Yodlee’s plan to move into India.

Programmable Web profiles Dynamics.

Forbes considers the best job titles of 2012: Min Xuan Lee, PlayMoolah’s Princess of Possibility named #1.

MoneyDesktop to power Cubus Solutions’ online banking services.

Geezeo to power Wings Financial PFM.

Billion Success blog interviews David Barrett, Expensify CEO.

OneDayGlobal blog profiles Entrepreneurial Finance Lab.

Silicon Prairie reports: Dwolla-powered Koala Pay aims to help merchants, customers connect.

Andera adds Gesa CU & Central Star CU for online account opening, loan applications.

Marketing Technology Blog highlights Flint Mobile and its camera-based payment processing system.

Ixaris completes move to new offices in San Gwann.

TSYS announces ProPay acquisition now complete.

Experian is offering a searchable consumer credit database.

Locaid Technologies wins FastPitch competition at Locations & Beyond Summit 2012.

Billhighway provides mobile donation services for Make A Difference animal rescue event.

Huffington Post features WattzOn among its best apps for tracking home energy use.

The Tennessean takes a look at the rebranding of Portfolio Football as Sports Lever.

LifeHacker quotes SmartCredit.com president of consumer education on credit and credit scores.

Betterment and PageOnce earn spots in TechCrunch’s feature: “7 Apps That Will Keep Your New Year’s Resolutions Alive”.

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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Happy New Year: Stanford Federal Credit Union Offers Refi Auto Loans to Start the Year Right

By Jim Bruene Posted on January 1, 2013
Categories: Credit Unions, Holiday promotions

Besides losing weight and hitting the gym more often, financial matters dominate the New Year’s resolution list. Spend less. Save more. And in general, just be smarter about your money. During this brief window of rational thinking, financial institutions would be wise to promote these smart products and services.

But in a fairly exhaustive search today (31 Dec 2012), looking at the 40 largest U.S. banks and at least that many credit unions (note 1), we found only one New Year-themed promotion (note 2), a 1.49% auto-refi offer from Stanford Federal Credit Union (see below).

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Stanford FCU homepage (31 Dec 2012)

Landing page for New Year promo

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Notes:
1. The first 40 to 50 credit unions listed in the Google results when searching “credit union” from a Seattle IP address.
2. Several credit unions posted well wishes and holiday hours on their homepages. Also, Fifth Third has a “celebrate 2013” message on its homepage as we reported last week.
3. Picture from New Year email and infographic by Finovate alum, Kiboo

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Planwise Releases First Mobile App

By Julie Muhn (@julieschicktanz) Posted on December 27, 2012
Categories: planwise

PFM platform planwise recently launched an iPad app; its first move into the mobile environment. We tested it out earlier this week.

Our favorites

1) Simplicity of the money in, money out structure

Planwise doesn’t aggregate financial data, so users need to manually enter their financial information. Fortunately, the San Francisco-based startup keeps things simple by limiting input to three items: income, expenses, and debt.

2) Adjustable plans feature

When the user creates a plan, like going on vacation or buying a car, the cash projection is automatically lowered or raised to reflect the impact (see below). We like how easy it is to turn on or off different plans because it allows the user to test multiple “what if” scenarios.

Noteworthy elements

1) Products

Planwise has partnered with Perkstreet Financial to provide users with debit card offers. Here’s what our offer looked like:

And here’s how the offers are calculated:

2) Alerts

This section contains both positive and negative alerts in the following categories:

Critical
Warning
Suggested action
Plan
Upcoming events
Products/ service
Statistics
Celebration

Here are some alerts we received

To learn more about planwise, watch its FinovateFall 2011 demo.

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Giftly’s Gift Cards Make Gains in 2012

By David Penn Posted on December 27, 2012
Categories: Giftly

Inside a recent profile of Giftly were a handful of interesting metrics:

10,000 Giftlys sold so far in 2012
$4 per Giftly collected on average (processing fees range from $1 to $10, based on price of gift)
Gross revenues for 2012 expected to be $100,000
“Tenfold” increase in sales according to CEO Timothy Bentley

Giftly provides customized gift cards that can be used at a wide variety of U.S. businesses. The company has been widely reviewed this year, with mentions in Fast Company, TechCrunch, and CNet.

Giftly has raised $2.5 million through investors like Baseline Ventures, RPM Ventures, and LightSpeed Venture Partners. They have formed partnerships with BancBox and CBW Bank, among others.

Watch Giftly’s most recent product demo from FinovateSpring 2012 here.

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Tagit Platform Now Available to 120 Million Mobile Users Through Smartlink Deployment

By Julie Muhn (@julieschicktanz) Posted on December 26, 2012
Categories: Tagit

Asia-based mobile banking solutions provider, Tagit, recently announced the launch of its first aggregated mobile banking service with Smartlink, a payment switch operator.

When Smartlink deploys mobile services with its Vitenam-based member banks, they will deploy Tagit’s Mobeix platform to more than 40 million cardholders and 120 million mobile users.

Introducing this aggregated service will help Tagit expand its userbase and presence throughout Asia. Vietcombank, Smartlink’s largest member bank, is the first bank to launch Tagit’s mobile banking service.

To learn more about Tagit, watch its FinovateAsia 2012 demo.

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Cardlytics Platform Adopted by America First Credit Union

By David Penn Posted on December 26, 2012
Categories: Cardlytics

The partnership between Cardlytics and Fiserv bears fruit as America First Credit Union announced that it was adopting the Transaction-Driven Marketing program developed by Cardlytics.

Offers from Cardlytics are targeted at 200 million transactions every week, and analyze $500 billion in transactions every year. They were named a “Red Herring Global 100 Winner” earlier this year out of 1,200 candidates.

America First Credit Union has the distinction of being the 12th largest credit union in the United States. Founded in 1939, America First has more than 100 branches and nearly 600,000 members.

The America First deployment is just one of the big wins for Cardlytics in 2012. In August, the company announced a new partnership with Bank of America to power its transaction-based rewards program. Cardlytics is also among the companies selected to present at the upcoming FinovateEurope 2013 in February.

Watch the Cardlytics demo from FinovateEurope 2012 here.

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Holiday Website Promos at the Top-20 Banks

By Jim Bruene Posted on December 24, 2012
Categories: Advertising & Promotion, BB&T Bank, Citibank, Comerica Bank, Fifth Third Bancorp, Holiday promotions, Key Bank, PNC Bank, US Bank

In my annual look at holiday offerings from major banks, I found that Scrooge still roams the halls at many of the big names. Only eight of the 20 largest U.S. banks are using holiday-themed promotions or graphics (note 1). That’s one more than last year, but still two less than 2010.

As usual, PNC Bank is the exception with their two-decade long holiday CPI (Christmas present index). BB&T, Comerica and Fifth Third are also festive this year with gift card promotions supported by seasonal graphics. And US Bank, Citi, Key and Regions Bank used some holiday imagery.

The scrooge list: top-20 banks with no holiday promotions or graphics on Dec. 20):
Bank of America, Bank of the West (BNP Paribas), Capital One, Chase, Citizens (RBS), Harris Bank (BMO), HSBC, ING Direct (Capital One), SunTrust, TD Bank, Union Bank (Mitsubishi UFJ), Wells Fargo

Following is a quick overview of the promotions, including a 1-to 5-bulb rating.

Previous year-end holiday posts: 2011 (big banks), 2011 (CUs/community banks), 2009 part 1, 2009 part 2, 2007, 2006, 2006, 2004

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Big banks in the holiday spirit
(rated 1 to 5 bulbs; screenshots from Thursday, Dec 20)

PNC Bank

Gift Hunt tied to its Christmas CPI (based on the song 12 Days of Christmas)
Visa Gift Card promo (in rotation of four homepage promotions)

Score:

Hompage: PNC is leading with its 12 days of Christmas price index

PNC Bank microsite with gift hunt link

Also running gift card promo in rotation

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BB&T (20 Dec 2012)

Holiday themed graphic featuring mobile check deposit
Small ad for gift cards

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Fifth Third

Rotation of three holiday themed promotions
— Holiday billpay sweeps
— New Years savings pro
mo
— Gift cards

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Comerica

Prominent gift card promo across page and in lower-left corner

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Key Bank

Holiday graphic, but no product promotion

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Citibank

Toy shopping background image

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US Bank

Pitch for online banking, convenient while shopping

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Regions Bank

Small saving money tips

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Notes:
1. Observations taken between 2pm and 3pm Pacific on Thurs Dec 20 from Seattle IP address, Chrome browser with no cookies
2. Animation from http://www.millan.net/anims/christmas.html#

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