Blog - Page 961 of 1196

Xero Raises $49 million from Peter Thiel-Backed Valar Ventures and Matrix Capital Management

By Julie Muhn (@julieschicktanz) Posted on December 3, 2012
Categories: Xero

Cloud-based accounting platformXero announced last week a NZ$82 million (US$67 million) investment from the following two companies:

Matrix Capital Management: NZ$58 million (US$48 million)
Peter Thiel-backed Valar Ventures: NZ$24 million (US$19 million)

Of the total, NZ$60 mil (US$49 mil) was new money and another NZ$22 million (US$18 million) went to purchase shares from Xero’s three largest shareholders. The new investors purchased the shares in order to minimize dilution to existing shareholders.

To learn more about Xero, watch its FinovateSpring 2011 demo.

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Dwolla Launches Guest Checkout and New POS Integrations

By Julie Muhn (@julieschicktanz) Posted on December 3, 2012
Categories: Dwolla, ShopKeep POS

Iowa-based payment platform Dwolla made some key announcements today on its blog.

1.) Guest checkout
Users no longer need a Dwolla account to check out online with Dwolla. Instead, users authorize a one-time transfer from their bank account (via ACH).

Once customers opt to pay as a guest, they are routed to Dwolla’s external payment gateway where it takes 60 to 90 seconds to complete the process (assuming you have your checking account number handy) as follows:

a.) Enter name, Zip code, email address
b.) Enter phone number where a text or voice-authentication code is transmitted
c.) Enter the authentication code
d.) Enter bank account and routing numbers

To finalize the transaction, the consumer completes the normal checkout process back at the merchant.

2.) The “Dwolla Price”
Merchants can encourage consumers to use Dwolla by sharing the interchange savings. In the example below, a $100 unit is sold at the discounted price of $98.75 after the 3% interchange savings is split 50/50 with the customer and then the Dwolla flat 25 cents is added back in.

3.) POS integrations

Dwolla announced POS integrations that have been in use for almost a month now*:

Change and ShopKeep POS can initiate payments with Dwolla instead of using the Dwolla app or mobile wallet partner.

To learn more about Dwolla, watch its FinovateSpring 2012 demo video.

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*ShopKeep POS announced its integration at FinovateFall 2012.

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Finovate Alumni News– December 3, 2012

By Julie Muhn (@julieschicktanz) Posted on December 3, 2012
Categories: Andera, Banno, BillFloat, BillGuard, Lighter Capital, Mortgage Harmony, ProfitStars, Sybase 365, UBank, Virtual Piggy

American Banker lists Andera, Banno, BillFloat, BillGuard, Mortgage Harmony, and Lighter Capital as top 10 tech companies to watch in 2013.

ZDNet reports UBank gears up for mobile banking site with beta program.

Frost & Sullivan recognizes Virtual Piggy with the 2012 Global Frost & Sullivan Award for Entrepreneurial Company of the Year.

ProfitStars adds new protections against malware.

Sybase 365 and Globe Telecom partner to launch LTE roaming service with China Mobile.

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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FinovateAsia 2012 Demo Videos Now Available

By Eric Mattson Posted on December 2, 2012
Categories: Uncategorized

We’re excited to announce the demo videos from FinovateAsia 2012 are now available for your viewing enjoyment. If you missed out on our inaugural Singapore conference this year, this is your chance to see the newest Asian fintech innovations from the 35 cutting-edge companies that were on stage.

The videos are part of the Finovate Archives, where you can watch (for free) every demo of new technology since our first conference in the fall of 2007. It’s an inspiring place to hang out online for a couple of hours.

If these videos have made you hungry for more, tickets for FinovateEurope (February 12-13, 2013 in London) are available at the early-bird discounted rate for a few more weeks. Our third annual London conference has been expanded to two days in order to showcase even more innovations and we hope you’ll join us to watch the future of European fintech debut live!

FinovateAsia 2012 was sponsored by: The Bancorp Inc., Citi Ventures, Financial Technology Partners, Infocomm Development Authority of Singapore, Standard Chartered, & Visa

FinovateAsia 2012 was partners with: Asian Banking & Finance, BankInnovation, BankerStuff, BeSuccess, Celent, Finance on Windows, PYMNTS.com, The Asian Banker & The Emerging Finance

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FinovateAsia 2012 Demo Videos Now Available

By Eric Mattson Posted on December 2, 2012
Categories: Uncategorized

FinovateAsia 2012 was sponsored by: The Bancorp Inc., Citi Ventures, Financial Technology Partners, Infocomm Development Authority of Singapore, Standard Chartered, & Visa

FinovateAsia 2012 was partners with: Asian Banking & Finance, BankInnovation, BankerStuff, BeSuccess, Celent, Finance on Windows, PYMNTS.com, The Asian Banker & The Emerging Finance

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Bundle Acquired by Capital One

By David Penn Posted on November 30, 2012
Categories: Bundle

Capital One announced today that it had acquired “substantially all” the assets of Bundle, a PFM and card analytics effort from Citibank, Microsoft and Morningstar.

Terms of the deal were undisclosed. Bundle CEO Jaidev Shergill and the company’s eleven associates will join Capital One as part of Capital One’s Digital Labs.

Bundle provides tools that enable consumers to track their own spending patterns, as well as compare their own purchase preferences to those of other consumers.

To learn more about Bundle, watch the company’s most recent demo from FinovateFall 2011 here

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Finovate Alumni News– November 30, 2012

By David Penn Posted on November 30, 2012
Categories: Bundle, Expensify, Kabbage, Simple, Virtual Piggy

Bundle acquired by Capital One.

Expensify now lets users submit employee expense reports to bill.com.

Simple (Formerly BankSimple) Rolls Out Mobile Check Deposit.

Virtual Piggy appoints Joseph Dwyer, former software executive as CFO.

VentureBeat reports Kabbage wins CloudBeat’s Innovation Showdown.

Acculynk announces full integration of recent acquisition, PayLeap.

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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CafeGive Powers Cause Marketing via Facebook

By Jim Bruene Posted on November 29, 2012
Categories: Chase Bank, Facebook, Giving back

The response to Chase Bank’s Community Giving Facebook campaign has been remarkable (except for a few glitches). It’s one of the top social media successes across all industries (see previous post).

If you are looking to do something similar this holiday season (or more likely in 2013), you may want to outsource the tech to a specialist who can help maximize the power of social networks while keeping you from free from any controversy.

There are a number of companies that can help you create Facebook apps. For example, we were recently briefed by a newcomer that has been getting some traction recently with a large U.S. bank and several credit unions, CafeGive.

CafeGive-powered financial institution examples:

US Bank ran a successful program earlier this year in partnership with the Oregon State Activities Association. In a strategy reminiscent of Chase Community Giving, the bank invited the community to nominate and vote (see inset; case study). Six winning high schools each received $2,500. The bank is expected to run the promotion again in 2013.
Patelco Credit Union is using a simple fundraising app they were able to deploy within a few days after Hurricane Sandy hit the Northeast USA (see screenshot 1 – 4). The app includes a progress bar, updated in real-time, showing progress towards the goal.
Alaska’s Credit Union 1 is donating $1 per like to the Food Bank of Alaska (see screenshot 5 & 6)

Many marketers have mixed feelings about cause marketing. On the one hand you are bragging about how generous you are while at the same time convincing your CFO that there is a positive ROI. But regardless of your motives, you want to get as much bang for your buck. Outsourcing the plumbing makes a lot of sense for these less-frequent programs.

Bottom line: It’s win-win. You do the right thing and it improves your brand image and boosts employee morale.

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Patelco Credit Union

1. Patelco features its CafeGive-powered donation app on its main Facebook page (link; 29 Nov 2012)

2. Simple donation page with progress meter (link; 29 Nov 2012)

3. Co-branded payment page powered by PayPal

4. After completing the PayPal process, a thank-you page shows the progress bar updated with the new donation

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Credit Union 1

5. Credit Union 1 showcases "like us | give" link on its main Facebook page (link; 29 Nov 2012)

6. CafeGive-powered "like us" promotion pays out $1 per like (link)

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Notes:
1. According to CafeGive Founder Sandra Morris, consumers gravitate towards brands with a conscious. She cites a survey that showed the top-3 reasons millennials gave for using a brand were: a) convenience, b) online services, and c) give back.
2. See our Online Banking Report "Banking in Facebook" (published Feb. 2012, subscription)

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Simple (Formerly BankSimple) Rolls Out Mobile Check Deposit

By Julie Muhn (@julieschicktanz) Posted on November 29, 2012
Categories: Simple

Yesterday, Simple (formerly BankSimple) announced on its blog that it has added a remote deposit capture (RDC) feature.

Customers can use the Simple App on their iPhone to deposit checks. All they need is an endorsed check and their account number, which Simple provides within the app itself.

Depending on how long you’ve been a Simple customer, up to $200 of the check will be deposited into your account the next day. Users can deposit a maximum of $5,000 total, up to 10 checks per week, and 15 checks per 30 days.

There is still no word as to when Simple will roll out an app for Android.

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

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Finovate Alumni News– November 29, 2012

By Julie Muhn (@julieschicktanz) Posted on November 29, 2012
Categories: Bazaarvoice, Corduro, Experian, MatchFund, Metaforic, MiiCard, MoneyDesktop, Monitise, Pageonce, Zopa

Metaforic unveils Latest Software Protection Technology.

Monitise in talks to raise up to 100 million pounds ($160 million USD).

miiCard launches online identity trust challenge for Scotland’s university students.

American Banker looks at My Community FCU’s experience with MoneyDesktop.

Zopa exceeds a quarter of a billion pounds ($400 million USD) in P2P loans.

Forbes reports that Corduro is seeking to raise $10 million in series B funding.

Pageonce adds File Cabinet, Scheduled Payments to improved Money & Bills app.

Epson expands global deployment of Bazaarvoice platform.

Matchfund wins place in Yodlee Interactive Incubator Program.

Experian announces renewed data, analytics deal with Hitachi Capital UK.

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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Don’t Miss Your Last Chance to Save £200 via a FinovateEurope 2013 Very-Early Bird Ticket

By Eric Mattson Posted on November 28, 2012
Categories: Uncategorized

With FinovateEurope 2013 a little less than 3 months away, we’ve begun sorting through the THICK stack of applications we’ve received from hot startups and leading established players with new fintech innovations to debut.

It’s already an incredible list and it is growing every day as the final application deadline of Friday November 30 draws near (please email us at europe@finovate.com ASAP if you still need info on applying).

There is so much innovation going on in Europe in everything from mobile to security to lending to PFM to payments to wealth management — and much more. Based on the quality and number of applications we’ve seen so far, next year’s FinovateEurope is going to be our biggest and best yet. And, with the expansion to a two-day format, it’s your chance to see even more new ideas in a single show.

If you’d like to attend and watch the cutting-edge of European fintech
debut via our fast-paced, demo-only format, very early-bird tickets are still available at
the discounted price of £995.00 (£200 off) through this Friday. Tickets are limited so please lock in your seat today to guarantee your ability to attend (and these savings). We’ll see you in London in February!

FinovateEurope 2013 is sponsored by: Bluerock Consulting, Financial Technology Partners & The Bancorp

FinovateEurope 2013 is partners with: Financial Services Innovation Centre and Hotwire PR

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aSpark, DCisions Both Acquired in Separate Deals

By Julie Muhn (@julieschicktanz) Posted on November 28, 2012
Categories: aSpark, DCisions

Recently, two Finovate alums announced that they had been acquired. We were excited to see two successful exits:

aSpark, an idea-incubation company that generates cloud-based mobile solutions for FIs
Founded: 2011
Acquired by: LiquidHub, provider of management and IT consulting
Finovate demo: FinovateFall 2012

Co-founder and CEO, Raj Patil, and his team will now continue operating under the company name LiquidHub.

DCisions, data analytics company that operates InvestorBee, a consumer-based service that provides investment data
Founded: 2005
Acquired by: Interactive Investor, a guide to UK finance and investing
Finovate demo: FinovateEurope 2012 and FinovateSpring 2012

DCisions will conclude independent data services on December 31, 2012, at which point the FTSE DCisions Index Series and InvestorBee service will stop.

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