FinovateAsia 2012 Demo Company Headquarter Locations

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In Singapore next week, we’ll see companies from all over the globe demo their latest fintech innovations live on the FinovateAsia stage on November 6 at the new MAX Atria Conference Center.

While the conference will be held in Singapore, only 3 demoing companies are based there. The rest of the companies are headquarted all over Asia and the world, making this our most international conference thus far. Here’s the breakdown:

    • United States: 10
    • European Union: 7
    • Australia: 5
    • India: 4
    • Singapore: 3
    • China: 2
    • South Africa: 2
    • Malaysia: 1
    • New Zealand: 1
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To learn about some of the innovation themes we expect to see at FinovateAsia, check out the word cloud we published earlier this week.

Please note that there are only a limited number of tickets still remaining for the event. If you’re interested in watching the latest Asian financial technology innovations in these areas debut live, please be sure to register soon for your FinovateAsia 2012 ticket to guarantee your seat.

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

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

Silver Tail Systems Acquired by Data Storage Giant, EMC

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Fraud-detection company, Silver Tail Systems, announced today that it has been acquired by data storage giant, EMC.

Silver Tail will become part of RSA, a security branch within EMC. According to All Things D, RSA will originally run Silver Tail without disrupting its business model so it doesn’t impede the momentum Silver Tail has already experienced.

While the financial terms of the deal have not been disclosed, EMC states that the purchase price is immaterial to its 2012 fiscal year.

To learn more about Silver Tail Systems, watch its FinovateSpring 2012 demo.

The Best Card/Banking Activation Email Ever? Simple Innovation #7*

image As a long-time student of the black art of marketing, I knew that I’d be in for some tricks and treats from Simple. And my first marketing message from the startup did not disappoint.

The eye-catching subject line practically guarantees a view:

Have you been cheating on us?

And the all-important opening line draws you in further:

So you’ve deposited money into Simple, and you’ve swiped a few times, maybe paid a bill. Not to get all clingy, but what’s up?

The email (below) goes on to make the case for switching to Simple including a testimonial centering on the startup’s spending map. Brilliant.

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Simple activation email (25 Oct 2012)
Note: The fine print at the bottom of the message is limited to just
“Unsubscribe from Simple outreach emails.” 

Simple card/banking activation email

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Notes:
1. See previous six Simple innovations here
2. 1953 Curtis ad for sale on eBay

Finovate Alumni News– October 31, 2012

  • Argos sees a record 79 mil of its online visitors engage in conversations about the brand since implementing Bazaarvoice’s Conversations.
  • IP Commerce Payment API Sample Code Now Available on Github.
  • Silver Tail Systems Acquired by Data Storage Giant, EMC.
  • Lendio.com ends Q3 adding record number of lenders to platform.
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.

FinovateAsia 2012 FinTech Innovation Themes Revealed

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On November 6 next week, Finovate will host the inaugural FinovateAsia conference in Singapore. Over the course of the action-packed day, 36 cutting-edge companies will take the stage to perform fast-paced demonstrations of their latest financial technology innovations to a packed auditorium of bankers, VCs, media, analysts, tech execs, and entrepreneurs.

We wanted to share a quick glimpse of the technology that will be debuted on stage so we compiled this word cloud to visually summarize the major themes of the new innovations. The bigger the word, the bigger the theme.

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Please note that there are only a limited number of tickets still remaining for the event. If you’re interested in watching the latest Asian financial technology innovations in these areas debut live, please be sure to register soon for your FinovateAsia 2012 ticket to guarantee your seat.

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

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

The Currency Cloud Raises $1.9 Million

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Last week, UK-based The Currency Cloud announced that it received $1.9 million (GBP 1.2 million) from XAnge Private Equity.

XAnge joins Atlas Venture, Notion Capital and Anthemis, former investors in The Currency Cloud’s $3.1 million (GBP 4.5 million) raised earlier this year.

As a part of this announcement, it disclosed that Hervé Schricke, CEO at XAnge Private Equity, was added to the board of directors.

Additionally, in unrelated news, The Currency Cloud was recently named one of the top 25 hottest fintech start-ups from around the world at SIBOS.

SIBOSTop252.jpgTo learn more about The Currency Cloud, watch its FinovateFall 2012 demo.

New Online Banking Report Published: Digital Overdraft Protection

clip_image002I’ve been wanting to write about overdraft protection for more than five years. It’s a $30 billion market (note 1) with a number of serious issues, but I wasn’t quite sure how it fit our mission of identifying opportunities in online and mobile banking. I finally realized the always-on digital connection to the customer fundamentally changes the overdraft equation. 

In the pre-digital age, a “bad check” was a labor-intensive process. Manually handling the item with slow snail-mail and/or phone calls to the customer was a hassle and a significant cost. The $8 NSF/OD fee in place when I started in banking (late 1980s) barely covered the variable costs, and certainly wasn’t a major profit center.

clip_image002[8]Fast-forward 25 years. With sophisticated balance forecasting ala Simple (note 3), real-time debit authorizations, and virtually free instant customer communications, not to mention a hostile political environment, the days of $30+ penalty fees are numbered.

The transition will not be an easy one for banks. But there are ways to create customer-friendly overdraft-protection services, primarily delivered digitally, that win back a good portion of the lost revenue while making customers MUCH, MUCH more satisfied.

Our new 36-page report includes:

  • 25 promising overdraft-protection enhancements for the digital age
  • Pricing overdrafts and overdraft-protection services
  • Gallery of overdraft-protection websites at banks and credit unions  
  • Profile: Bank of Internet’s OD-free checking account
  • Size of the U.S. market for overdrafts

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About the report
__________________________________________________________________

Digital Overdraft Protection (link)
Making it a customer benefit again

Author: Jim Bruene, Editor & Founder

Published: 29 October 2012

Length: 36 pages, 12 tables, 7,600 words

Cost: No extra charge to OBR subscribers, US$395 for others here

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Notes:
1. United States fee income to banks and credit unions
2. Graphic from Southwest Missouri Bank
3. For more on balance forecasting, see our recent PFM report (June 2012, subscription).

Finovate Alumni News– October 30, 2012

  • Cortera to open new office in Boston.
  • American Banker reports Mitek Plans Driver’s License Authentication, Mobile Pay Software.
  • The Next Web reports Braintree and LightSpeed team up to launch new payment plan for merchants.
  • Finovate takes an in-depth look at Manilla’s account management platform.
  • Emida partners with Global Business Services and The Mint Corporation.
  • The Currency Cloud raises $1.9 Million.
  • The WSJ takes LearnVest for a test drive.
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.

What We Learned About Manilla’s Account Management Platform

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Earlier this month, I opened a free account with online account management and organization service, Manilla. After spending some time in the platform, I was impressed with the capabilities of the clean UI and its easy functionality. The company offers both a desktop and a mobile version.

Company overview

    • Headquartered in New York, NY and San Francisco, CA
    • Founded March 2010
    • Over 50 employees

Awards & recognitions

    • Named one of Time’s Top 10 NYC Startups to Watch in 2011
    • Won the DEMO God Award at the DEMO conference in Spring 2011
    • Won the Webby and the People’s Voice Award in the 16th Annual Webby Awards in 2012
How it works
1. Sign up with:
    1. Name
    2. Zip code
    3. Email address and password
    4. Two security questions
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2. Add accounts such as utility bills, bank accounts, travel and rewards memberships, and even magazine subscriptions.

Select a pre-listed provider (Manilla integrates with over 3500), then enter your username and password. More secure accounts, like online banking, require additional security questions and verification information.

I uploaded 5 accounts, ranging from Alaska Air mileage plan to my Verizon account. The average number of accounts a typical user maintains is between 7 and 10; some have up to 20.

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3. Use it to manage bills and payments:

    • Select how and when to be reminded (pictured right) of an upcoming bill due date
    • Store PDF versions of bills forever
    • Login directly to biller websites through your single Manilla password
With the accounts dashboard (pictured below), users can see an overview of all their uploaded accounts, including bill payment reminders and items that need attention.

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In the documents tab (pictured below), users see an overview of all documents, such as a bill, associated with their accounts.

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Mobile app

The mobile experience parallells the full web experience. Just like the web experience, it has dashboards for reminders, documents, and accounts. It allows you to view your bills on-the-go, email them, and go directly to the biller’s site to pay the bill.

In addition, you can set up push notifications on your phone to be reminded of upcoming bill payments.

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To learn more about Manilla, watch its FinovateFall 2012 demo.

Finovate Alumni News– October 29, 2012

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgDiversinet upgrades mobile health security platform.
  • Forbes reports: FreeMonee Makes Gift Incentives Pay.
  • Killer Startups interviews Nick Hungerford, Nutmeg CEO.
  • DemystData blogs about what it will show in Singapore at FinovateAsia next week. Come to see its latest tech on Nov. 6.
  • Crowdsourcing.org interviews Candace Klein, CEO of SoMoLend.
  • Business Insider reports: PayNearMe has beaten PayPal to the cash market.
  • ChartIQ integrates With StockTwits Unveiling First-of-Its-Kind Social Stock Charting iPad App.
  • Online mortgage applications continue to soar as Mortgagebot clients’ loan volume advances toward 1 million mark.
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.

The Rise of Asia in Financial & Banking Technology Innovation

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In the process of organizing our inaugural FinovateAsia (November 6th in Singapore, a limited number of tickets are still for sale), I’m spending a ton of time interacting with technology companies, investors and financial executives from across the region.

With each passing day, I find at least one new data point that makes me ever more optimistic and excited about the rise of Asia in financial and banking technology innovation.

Here’s a small sampling of what is making me so excited: 

First, the new innovations that our presenters will be demonstrating at FinovateAsia. Leveraging cutting-edge trends like big data, mobile, biometrics, gamification, aggregation, crowdsourcing and intelligent analytics, these companies (many of which are based throughout Asia) are pushing the boundaries of fintech.

Second, the growth of high-quality venture capital across the region, with some specific players like Citi Ventures and Arbor Advisors Asia being focused on the opportunities in financial technology.

Third, the efforts of government agencies (like Singapore’s Infocomm Development Authority) and large technology companies (like VisaLabs’ new office in Singapore) to foster innovation in the region.

Fourth, the strong growth of mobile banking across the region (e.g., Citibank’s recent passing of the 1 million user mark) and the innovative technology ideas coming from within large banks (e.g., Standard Chartered Bank’s Breeze).

Fifth, the high quality of the audience that will be attending the inaugural FinovateAsia. From leading banks (e.g., Standard Chartered, OCBC, Citibank, Barclays), research firms (e.g., Celent, Gartner), top tech companies (e.g., Microsoft, PayPal), venture capitalists and entrepreneurs, it’s amazing to see the high level of interest in innovative financial technology ideas.

If you’re interested in learning more about these trends, The Asian Banker is hosting a free teleconsultation on Tuesday, October 30th,  from 4-5 PM, Singapore time. Representatives from Citi Ventures and Arbor Advisors and I will discuss emerging financial technology trends in Asia.

Beyond that, I hope you’ll consider attending FinovateAsia next week to watch the future of Asian fintech unfold live on stage via our signature demo-only format. There are tickets remaining but time is running out so please register soon.

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

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

The Rise of Asia in Financial & Banking Technology Innovation

FinovateAsiaLogo.png

In the process of organizing our inaugural FinovateAsia (November 6th in Singapore, a limited number of tickets are still for sale), I’m spending a ton of time interacting with technology companies, investors and financial executives from across the region.

With each passing day, I find at least one new data point that makes me ever more optimistic and excited about the rise of Asia in financial and banking technology innovation.

Here’s a small sampling of what is making me so excited: 

First, the new innovations that our presenters will be demonstrating at FinovateAsia. Leveraging cutting-edge trends like big data, mobile, biometrics, gamification, aggregation, crowdsourcing and intelligent analytics, these companies (many of which are based throughout Asia) are pushing the boundaries of fintech.

Second, the growth of high-quality venture capital across the region, with some specific players like Citi Ventures and Arbor Advisors Asia being focused on the opportunities in financial technology.

Third, the efforts of government agencies (like Singapore’s Infocomm Development Authority) and large technology companies (like VisaLabs’ new office in Singapore) to foster innovation in the region.

Fourth, the strong growth of mobile banking across the region (e.g. Citibank’s recent passing of the 1 million user mark) and the innovative technology ideas coming from within large banks (e.g. Standard Chartered Bank’s Breeze).

Fifth, the high quality of the audience that will be attending the inaugural FinovateAsia. From leading banks (e.g. Standard Chartered, OCBC, Citibank, Barclays), research firms (e.g. Celent, Gartner), top tech companies (e.g. Microsoft, PayPal), venture capitalists and entrepreneurs, it’s amazing to see the high level of interest in innovative financial technology ideas.

If you’re interested in learning more about these trends, The Asian Banker is hosting a free teleconsultation on Tuesday October 30th
from 4-5pm Singapore time with myself and representatives from Citi Ventures and Arbor Advisors to discuss emerging financial technology trends in Asia.

Beyond that, I hope you’ll consider attending FinovateAsia next week to watch the future of Asian fintech unfold live on stage via our signature demo-only format. There are tickets remaining but time is running out so please register soon.

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

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