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ValidSoft Brings Secure Mobile Architecture to Real-time Transactions

By Julie Muhn (@julieschicktanz) Posted on September 13, 2012
Categories: FinovateFall 2012, ValidSoft

Last up for this session, ValidSoft showed the audience its SMART technology:

“ValidSoft’s SMART platform caters for the disparity in mobile networks and devices, use cases and the corresponding transactional risk intrinsic in mobile payment applications.

SMART achieves this by providing a layered architecture of voice and mobile network‐based security protocols and technologies, both visible and invisible, to protect mobile payment and M‐banking transactions alike.”

Product Launched: January 2012

HQ Location: London, UK

Company Founded: 2003

Metrics: ValidSoft has 20 employees, most of them working out of the London office

Website: validsoft.com

Twitter: @ValidSoft

Finovate demo video: finovate.com/fall12vid/ (demo video will be posted next week)

Introducing John Petersen (Global Head of Business Development) and Emmanuelle Filsjean (Global Head of Marketing)

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PaySimple Helps Small Businesses Get Paid Faster

By Julie Muhn (@julieschicktanz) Posted on September 13, 2012
Categories: FinovateFall 2012, PaySimple

Next, PaySimple demonstrated its solution to help small businesses get paid faster and increase customer engagement:

“Late payments and business growth challenges continue to plague small businesses. PaySimple has recently launched a get paid faster while you grow your business feature set. This new innovation ensures small businesses get paid faster through simple automation of early payment incentives and late payment penalties.

In addition, the innovative features promote business growth by driving social engagement as a natural extension of the payments flow. The social features help businesses grow their social following and improve their online review presence to retain active customer engagements and become a more attractive option to new potential customers.”

Product Launched: April 2010

HQ Location: Denver, CO

Company Founded: January 2006

Metrics: $28.5M raised, 75 employees

Website: paysimple.com

Twitter: @PaySimple

Finovate demo video: finovate.com/fall12vid/ (demo video will be posted next week)

Introducing Eric Remer (CEO) and Jenae Wiegert (VP, Product)

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Guardian Analytics’ FraudXCHANGE Helps FIs Detect Fraud

By Julie Muhn (@julieschicktanz) Posted on September 13, 2012
Categories: FinovateFall 2012, Guardian Analytics

Afterwards, Guardian Analytics demonstrated how FraudXCHANGE can help FIs detect fraud:

“FraudXCHANGE is Guardian Analytics’ cross-institution fraud detection platform. Both a collaboration portal and a fraud detection engine, FraudXCHANGE provides FIs a way to take advantage of the fraud data, experiences, expertise, and ideas of hundreds of FIs and fraud prevention experts in our rapidly growing FraudMAP user community, partner community and industry association network.”

Product Launched: November 2012

HQ Location: Mountain View, CA

Company Founded: March 2005

Metrics: Guardian Analytics has 50 employees and over 200 FIs. The company has experienced rapid growth (over 200% year over year growth in customers from 2010-2011) fueled by the acceleration in fraudulent attacks against FIs and recent regulatory guidance setting expectations that all FIs should have the ability to detect and respond to suspicious activity in any electronic banking channel.

Website: guardiananalytics.com

Twitter: @GuardAnalytics

Finovate demo video: finovate.com/fall12vid/ (demo video will be posted next week)

Introducing Terry Austin (President & CEO) and Luis Rojas (Director Product Management)

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TouMetis Brings PFM to Small Business Owners with $mart

By Julie Muhn (@julieschicktanz) Posted on September 13, 2012
Categories: FinovateFall 2012, TouMetis

Next, TouMetis showed off $mart, a PFM for small businesses:

“TouMetis will be launching an extension to Personal Financial Management for small business owners. With over 25M+ small/micro business owners in the United States, it’s the second largest customer segment for financial institutions behind consumer banking. We believe small business owners are largely underserved by today’s financial institutions and yet it is becoming one of the few market segments where financial institutions are seeing revenue growth.

TouMetis will demo $mart, which we believe to be the first global, cash-flow manager for small business owners as an extension to Yodlee PFM solutions. The Small Business Center FinApps include account summary, transactions, expense tracking, invoicing, time tracking, bill pay, budgeting and cash-flow analysis. $mart will allow the small business owner to engage in financial decisions from their desktop, mobile or tablet devices.”

Product Launching: December 2012

HQ Location: Boise, ID

Company Founded: 2009

Website: toumetis.com

Twitter: @toumetis

Finovate demo video: finovate.com/fall12vid/ (demo video will be posted next week)

Introducing Mark Willnerd (CEO)

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Tuition.io Helps Borrowers Organize Student Loans

By Julie Muhn (@julieschicktanz) Posted on September 13, 2012
Categories: FinovateFall 2012, Tuition.io

Then, Tuition.io took the stage to demo its student loan platform:

“With Tuition.io, student loan borrowers can easily access all their loans in one visually appealing dashboard, use graphical visualization tools to compare them and get customized optimization plans that take advantage of little-known and hard-to-understand restructuring options.”

Product Launched: August 2012

HQ Location: Los Angeles, CA

Company Founded: October 2011

Website: tuition.io

Twitter: @Tuitionio

Finovate demo video: finovate.com/fall12vid/ (demo video will be posted next week)

Introducing Brendon McQueen (Founder & CEO) and Steve Pomerantz (Co-Founder & COO)

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Emida’s Cash and Transact Serves as a Cash Alternative for Underbanked Consumers

By Julie Muhn (@julieschicktanz) Posted on September 13, 2012
Categories: Emida, FinovateFall 2012

Second, Emida demonstrated a cash alternative for underbanked consumers:

“Cash and Transact allows consumers to apply cash to their virtual mobile account without requiring an existing bank account or credit card collateral. Account holders can load value to their Cash and Transact account and then transfer cash or pay for goods and services with anyone, anytime, from anywhere. The Cash and Transact vision is to create a borderless community connected by transactions via the Cash and Transact mobile wallet.

Cash and Transact is an ideal cash alternative for just about anyone, but especially for unbanked subscribers. There are no credit checks, and the system is much safer than carrying cash in many parts of the world. Cash and Transact is as convenient as cash – users can pay bills, buy groceries, transfer money to family and friends in remote locations and much more – all from their mobile handset.”

Product Launched: November 1, 2012

HQ Location: Foothill Ranch, CA

Company Founded: April 4, 2006

Metrics: 86 employees globally and annual revenue of $1.4B across 54,000 active locations

Website: emida.net, catwallet.com

Twitter: @EmidaPrepaid

Finovate demo video: finovate.com/fall12vid/ (demo video will be posted next week)

Introducing Ron Kraft (VP, General Manager North America) and Mark Beckner (CTO)

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CommunityLend Allows Businesses to Offer Their Customers Instant Financing

By Julie Muhn (@julieschicktanz) Posted on September 13, 2012
Categories: CommunityLend, FinovateFall 2012

First up after lunch, CommunityLend took the stage with its Financeit solution:

“Financeit allows businesses to offer instant, POS financing to their customers from any device. The approval process takes less than 10 seconds and merchants receive their payment by direct deposit.

The standard program is free to use plus we provide marketing programs such as deferred payments or 0% financing. We currently serve the home improvement, vehicle, retail and healthcare markets.”

Product Launched: January 2011

HQ Location: Toronto, ON, Canada

Company Founded: March 2007

Metrics: CommunityLend has raised over $9M in financing to-date and currently has 35 employees. Financeit has over 2,000 merchants using the system and has processed over $300M in loans.

Websites: financeit.ca, communitylend.com

Twitter: @communitylend

Finovate demo video: finovate.com/fall12vid/ (demo video will be posted next week)

Introducing Michael Garrity (CEO), Casper Wong (COO), and Paul Sehr (CTO)

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Fiserv Enables Users to Seamlessly Interact with Their Online Bank in a Variety of Ways

By Julie Muhn (@julieschicktanz) Posted on September 13, 2012
Categories: FinovateFall 2012, Fiserv

Last up before lunch, Fiserv showed the many ways consumers can interact with their online bank:

“Fiserv understands that convenience and supporting user preference are keys to increased adoption and usage of digital payments. Our innovation seamlessly blends a variety of information input modes in our mobile banking application, Mobiliti Enterprise.

Using our applications, users can choose from traditional keypad and screen touch interaction, image capture and OCR, or voice-driven commands and inputs to make payments. And a key feature is that users can effortlessly switch modes at any time, whenever they want – even in the middle of a transaction.”

HQ Location: Brookfield, WI

Company Founded: July 1984

Metrics: $4.3B revenue in 2011, $472M net income in 2011, 20,000 employees worldwide, 16,000 financial institutions and businesses use Fiserv worldwide, 6,000 account processing clients

Website: fiserv.com

Twitter: @Fiserv

Finovate demo video: finovate.com/fall12vid/ (demo video will be posted next week)

Introducing Serge vanDam (VP, Mobile Solutions) and Andy Barnett (Senior Consultant)

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Bolstr’s Crowdfunding Platform Helps Small Businesses Raise Capital

By Julie Muhn (@julieschicktanz) Posted on September 13, 2012
Categories: Bolstr, FinovateFall 2012

Next, Bolstr demonstrated its crowdfunding platform:

“Bolstr is the first crowdfunding platform focused on adding liquidity to main street small businesses and the only platform able to legally operate pre-JOBS Act. We have worked tirelessly along with our legal counsel to create a model that works within the current regulatory environment.

Bolstr’s proprietary, compliance engine navigates small businesses through the complicated state-by-state regulatory rules. The technology automatically calibrates to a small businesses raise, taking into consideration a multitude of variables to ensure each business raises capital within the rules.”

Product Launched: August 2012

HQ Location: New York, NY

Company Founded: November 2011

Metrics: $250K in capital raised to date

Website: bolstr.com

Twitter: @BolstrYourBiz

Finovate demo video: finovate.com/fall12vid/ (demo video will be posted next week)

Introducing Larry Baker (Co-Founder) and Charlie Tribbett (Co-Founder)

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Pindrop Security Launches Fraud Detection System

By Julie Muhn (@julieschicktanz) Posted on September 13, 2012
Categories: FinovateFall 2012, Pindrop Security

Then, Pindrop Security launched a solution to protect FIs against fraud:

“FFIEC Authentication Guidance recommends out-of-band methods to verify online (web-based) transactions as part of their layered security approach. Most banks use the phone to do this by placing a phone call to verify an online transaction. However, attackers are using fraudulent call forwarding and number porting to redirect this phone call to the attacker’s phones.

Pindrop Security is introducing a first-of-its-kind service to protect financial institutions against fraudulent customer out-of-band verification by identifying when a call is reaching a legitimate customer and when the call has been forwarded/ported to a new device.”

Product Launched: September 2012

HQ Location: Atlanta, GA

Company Founded: April 2011

Metrics: Pindrop employs 15 people as of September 2012, and we’re hiring. We raised $1M in seed funding and have also been granted significant funding through National Science Foundation grants. We have deployed at a Top 5 bank and are engaged in most of the top financial institutions.

Website: pindropsecurity.com

Twitter: @pindropsecurity

Finovate demo video: finovate.com/fall12vid/ (demo video will be posted next week)

Introducing Vijay Balasubramaniyan (CEO) and Matt Anthony (VP Marketing)

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Backbase’s Launchpad Reduces Time-to-Market for Mobile Projects

By Julie Muhn (@julieschicktanz) Posted on September 13, 2012
Categories: Backbase, FinovateFall 2012

Afterward, Backbase demonstrated Launchpad, a solution that minimizes time-to-market for mobile projects:

“Backbase Launchpad is a new and unique banking experience, based on Backbase Portal technology. Launchpad offers the latest innovations and best practices in user experience design and cross device customer journeys. The goal of Launchpad is to drastically bring down time-to-market for online and mobile projects.

Launchpad is immediately optimized for use on regular browsers, tablets and smartphones and is entirely manageable by the e-business and digital teams using the Backbase Portal Manager. Launchpad is seamlessly integrated with the Backbase App Center and includes apps such as: Accounts Overview, Payments, PFM, Stock Portfolio Manager, Message Center, etc. Other apps (either developed by the bank, by Backbase or by third party vendors) can be easily added to Launchpad.

Launchpad and its apps come with a universal integration architecture to hook up existing core banking systems with the new Bank 2.0 front-end.”

Product Launched: 2012

HQ Location: New York, NY

Company Founded: April 2003

Metrics: Privately funded, 150+ employees with offices in New York, Amsterdam, London, Singapore and Moscow

Websites: backbase.com, backbase.com/launchpad/

Twitter: @backbase

Finovate demo video: finovate.com/fall12vid/ (demo video will be posted next week)

Introducing Greg Turman (VP Sales North America) and Jelmer de Jong (Global Head of Marketing)

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Mortgage Harmony’s Solution Gives FIs a Mortgage Interface for Their Borrowers

By Julie Muhn (@julieschicktanz) Posted on September 13, 2012
Categories: FinovateFall 2012, Mortgage Harmony

Then, Mortgage Harmony took the stage with HarmonyLoan Central:

“HarmonyLoan Central is a client-branded web-interface for borrowers to access their HarmonyLoan. The product eliminates the need for the traditional refinance.

With a single click of the button, a borrower can reset their mortgage rate with no fees, appraisal, credit check, underwriting, and no new amortization schedule. The financial institution eliminates back office processing costs and increases loan retention, all at a premium yield. The servicer reduces portfolio churn, and the loan originator creates a recurring revenue stream via our patented compensation method. In other words, everyone wins.”

Product Launched: December 2010

HQ Location: McLean, VA

Company Founded: December 2008

Metrics: Over $1.1M raised, 7 employees, 12 customers

Website: mortgageharmony.com

Twitter: @harmonyloan

Finovate demo video: finovate.com/fall12vid/ (demo video will be posted next week)

Introducing Keith Kelly (CEO) and Ray Crosier (President)

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