Finovate Alumni News– August 30, 2012

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgCU Journal reports Minnesota’s Postal CU unveils mFoundry’s M-Banking.
  • Payments News reports Cardlytics’ System Uses ‘Big Data’ to Deliver Targeted Rewards.
  • TIO Networks launches TIO Connect to simplify onboarding for bill issuers and to open new markets.
  • DemystData locks in Series A funding. 
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.

New Online Banking Report Published: 2013 Guide to Remote Banking Products, Marketing & Strategy

image Alright everyone, take a deep breath, summer is over and it’s time to get down to business. You are now officially behind on all the 2012 “stretch goals” that still seemed possible a few months ago.

And for many, September marks marks the beginning of the 2013 planning cycle. We are here to help. First, we moved FinovateFall up three weeks (to Sep 12/13) so you have more time to get those new ideas in to your plans.

Then there’s our annual reference, OBR’s 2013 Online/Mobile Banking Planning Guide. It’s a thorough resource for financial institution product/marketing managers prioritizing next year’s remote-banking efforts.

The latest version was posted online last night. 

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About the report
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2013 Product, Pricing & Strategy Guide for Remote Banking (link)
Embracing new business models for a digital world

Author: Jim Bruene, Editor & Founder

Published: 29 Aug 2012

Length: 76 pages (36,000 words)

Cost: No extra charge to OBR subscribers, $595 for others here

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Table of Contents

The report contains a list of every idea that has appeared in Online Banking Report or this blog (sample page, below). There are more than 1,000 possible online/mobile tactics listed in the current report, divided into the following categories:

1. Product tacticsclip_image002
A. Checking & transaction cards
B. Deposits & savings
C. Loans & credit
D. Personal finance management
E. Insurance
F. Investing
G. Payments & transfers
H. Mobile services
I. Family (children, teens, tweens)

2. Sales & marketing tactics
A. Increase online sales
B. Selling behind the password
C. Enter new markets & segments
D. Attract new residents (movers)
E. Increase referrals and word-of-mouth
F. Social media and Web 2.0
G. PR: appeal to community

3. Service, security & retention tactics
A. Increase satisfaction levels
B. Enroll more online banking users
C. Encourage/reward self-service
D. Encourage paperless adoption
E. Address security concerns

4. Small business products and services

5. Pricing: Fees and subscriptions

6. Messages & alerts

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Who Will You Sit Next to at FinovateFall 2012?

With FinovateFall just two weeks away, we’ve been seeing a buzz of excitement on Twitter about who’s coming to New York for the conference.
Since you might want to check out who will be in the audience, we compiled a word cloud of all the titles of registered attendees.

FF12TitleWordCloud2.jpg
Additionally, here’s a small sample of some of the organizations that will be attending:
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  • A+ FCU
  • AA Credit Union 
  • ACI Worldwide
  • Acxiom Corporation
  • Adams Street
  • ADP
  • Aite Group
  • Alliance Data
  • Alliant Credit Union
  • American Airlines Federal Credit Union
  • American Banker
  • American Express
  • Andera
  • Arion Banki
  • ASB Bank
  • Ascent Venture Partners
  • Bain Capital Ventures
  • Baird Venture Partners 
  • BancVue 
  • Bank Hapoalim 
  • Bank of Queensland 
  • Bank of the West 
  • Bank Systems & Technology 
  • Barclays 
  • Barlow Research Associates 
  • Battery Ventures 
  • Baxter Credit Union 
  • BB&T 
  • BBVA 
  • Benchmark Capital 
  • Bethpage FCU 
  • Birchmere Ventures 
  • Brown Brothers Harriman 
  • Canadian Imperial Bank of Commerce 
  • CAP COM FCU 
  • Capital One 
  • CFSI 
  • CIBC
  • Cisco Systems
  • Citi
  • Columbia Business School 
  • CommunityAmerica 
  • Credit Union 
  • comScore, Inc. 
  • Consumer Reports 
  • Cornerstone Advisors 
  • CP FCU 
  • Credit.com 
  • CUNA Mutual Group 
  • D.A. Davidson & Co. 
  • DailyWorth.com 
  • Discover 
  • E*TRADE 
  • E&A Credit Union 
  • Ernst & Young 
  • Evangelical Christian Credit Union 
  • EverBank 
  • Evercore Partners 
  • Experian 
  • Farm Credit Financial Partners 
  • Fidelity Investments 
  • First National Bank of Omaha 
  • FIS Global 
  • Fiserv/CashEdge 
  • Flybridge Capital Partners 
  • Forrester Research 
  • Frost Bank 
  • Frumtak 
  • FTV Capital 
  • Gartner Industry Advisory Services 
  • GE Capital Retail Finance 
  • Glenbrook Partners 
  • Goldman Sachs 
  • Google 
  • GRP Partners 
  • H&R Block Canada 
  • Hartford Ventures 
  • Heartland Payment Systems 
  • Highland Capital Partners
  • Hudson Valley FCU 
  • IDC Financial Insights 
  • Intuit 
  • Iowa Credit Union League 
  • iPay Technologies 
  • Islandsbanki 
  • Jack Henry & Associates 
  • Javelin Strategy & Research 
  • JPMorgan Chase 
  • Key Bank 
  • LGFCU 
  • Liberty Mutual 
  • MassMutual 
  • MasterCard 
  • McKinsey & Company 
  • Menlo Ventures 
  • Mercator Advisory Group 
  • Mid-Atlantic Corp. FCU 
  • Mobile Payments Today 
  • MONEY Magazine 
  • Montecito Bank & Trust 
  • Morningstar 
  • Mountain America Credit Union
  • Nationwide Bank 
  • Navy Federal Credit Union 
  • Nedbank 
  • Neighbors FCU 
  • New York Life Investments 
  • New York Times 
  • Northwest FCU 
  • Norwest Venture Partner 
  • NTT DATA 
  • Ohio Valley Bank 
  • Ovum 
  • PayPal 
  • Primerica 
  • Principal Bank 
  • ProfitStars 
  • Provident Bank
  • PSCU
  • PSECU
  • QED Investors 
  • Quorum FCU 
  • Rabobank 
  • RBS Citizens, NA 
  • Redstar Ventures 
  • Rockland Trust 
  • RushCard 
  • Sberbank 
  • Scottrade 
  • Seasons FCU 
  • SEFCU 
  • Silicon Valley Bank 
  • Smart Financial Credit Union 
  • Square 1 Bank 
  • Standard Bank 
  • Sun Trust Bank 
  • Susquehanna Growth Equity 
  • TCV 
  • TD Ameritrade 
  • The Bancorp Bank 
  • The Boston Consulting Group
  • The Huffington Post 
  • Thomson Reuters 
  • Time Inc. 
  • Tribeca Venture Partners 
  • TTV Capital 
  • Tudor Growth Equity 
  • UBS Investment Bank 
  • University of Michigan CU 
  • USAA 
  • Vanguard 
  • Visa 
  • VRL Financial News 
  • Wall Street Journal 
  • Wells Fargo 
  • Western Union 
  • Yapital 
  •  Zions Bancorporation

If you’d like to be part of this audience, get your ticket now to join us at FinovateFall.

If you have any questions about the event, check out our FAQ or reach out to info@finovate.com. We’re looking forward to seeing you in New York!

Finovate Alumni News– August 29, 2012

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgSecureKey ranked #2 in PROFIT HOT 50, the ranking of Canada’s top new growth companies.
  • TechCrunch reports: Mint.com tops 10 mil registered users, 70% use mobile.
  • Fox Business names Prosper.com & BillFloat as cutting edge bank alternatives.
  • PYMNTS News reports Compass Plus Releases White Paper on Payment Fraud. Come see its live demo at FinovateFall.
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– August 28, 2012

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgAmerican Banker reports Spreedly partners with Dwolla to let merchant clients accept the alt payments system.
  • Ping Identity opens new Canadian offices.
  • Check Point IPS recognized for outstanding security by NSS Labs.
  • TIO Networks partners with BAF Global Group to bring its bill pay technology to the Bahamas.
  • Fast Company explains how ReadyForZero helps users out of debt.
  • Netbanker looks at Simple’s messaging center.
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.

Full Presenter Lineup for FinovateFall 2012 Finally Revealed

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One of the best and worst things about running conferences focused on debuting new technology is that we get a sneak peak of all the innovations months in advance. It is awesome because we get to see them before anyone else. And it sucks because we have to keep our mouths shut about them until the show arrives.

For today, at least, we can reveal the full lineup of the 64 companies that will be doing demos at FinovateFall 2012 including all the companies that had been staying in stealth mode until now.

Plus, the companies have finally allowed us to begin releasing some “teaser” summaries of what they’ll be demoing — sneak peek #1, sneak peek #2, and sneak peek #3 — over on the Finovate blog.

These 64 companies are going to be demonstrating great new innovations in everything fintech — from PFM to security, from crowdfunding to mobile payments, and much more.

If you’re interested in joining the top-notch audience to watch the future of fintech unfold live, tickets are selling fast and on pace towards an attendance record for our fall conference. Get your ticket soon to lock in your seat before it is too late. We’ll see you in New York in September (or Singapore in November)!

FinovateFall 2012 is sponsored by: The Bancorp Inc., Financial Technology Partners, the law firm of Hudson Cook, Inter-Atlantic Group, Mad*Pow & Tier One Partners

FinovateFall 2012 is partners with: American Bankers Association, BankInnovation, BankerStuff, Benzinga, California Bankers Association, Celent, Filene, Finance on Windows & PYMNTS.com

FinovateFall 2012 Sneak Peek: Part 3

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Here is third and final look at the companies that will demo at FinovateFall September 12 &13 in NYC. Each company provided a short summary of the innovation they will debut on stage. In case you missed them, check out Sneak Peek Part 1 and Sneak Peek Part 2
Don’t miss the opportunity to experience the hottest innovations in financial technology. Get your FinovateFall ticket here.
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Thumbnail image for AkamaiLogo.jpg

Web-based attacks have been on the rise, and financial services is one of the primary targets of criminal, political, and chaotic actors. These attacks can cost institutions millions in lost transactions and business productivity each year, and even higher losses in their brand value and reputation. 
Akamai’s Kona Site Defender is the first cloud-based Web security solution to help financial services institutions protect against both large scale denial of service and sophisticated application-layer threats seeking to compromise their brands, applications, and associated data.
Innovation type: banking, online, security

Thumbnail image for BannoLogo3.jpg

Banno brings instant pre-transaction insights derived from location, historical spending outliers and upcoming bills to its mobile experience.
When looking at bank statements, people naturally perform regression analysis and predictive modeling to find outliers in spending. In other words, Where did my money go? We feel that everyone needs more absolute data points to help in this decision process. Grip’s dashboard provides easy access to your immediate historical financial perspective, allowing insight into spending over time while exposing anomalies with transaction level patterns ordered by what’s most important today.
Innovation type: Mobile, payments, PFM

BlackhawkNetworkLogoSm.jpg

Gift cards represent an estimated $110+ billion business in 2012. Consumers have $40 billion in unspent funds and are clamoring for digital solutions as well as connections to their favorite brands. Increasingly, these branded currencies are becoming a larger portion of the commerce cycle and consumer wallets. Retailers, merchants, financial institutions, digital wallets and marketers are all looking to capitalize and participate in this space. 
At Finovate, Blackhawk is premiering its GoWallet Digital Services. These services help a host of digital players power deep engagement with consumers while creating new revenue streams through prepaid branded currencies.
Innovation type: Cards, mobile, rewards

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CK Mack announces the debut of its innovative investment platform featuring an investment product based on a tangible, insured asset; Rented Real Estate
Real Estate has been a haven for the wealthy investor since the dawn of time. Now anyone will be able to share in the cash flow of rental property without the high dollar buy-in previously needed to invest in this profitable market. Current low interest rates and market insecurity combine to make CK Mack an exciting option for portfolio diversification. 
Innovation type: Investing
EuronovateLogo.jpg

Euronovate is a “Zero paper company” aiming to transform every legal paper signed into an ab-origine electronic document with the same legal validity in all verticals worldwide. The new Pad Ensign10 and software platform ENsoft provide better legal and security management for electronic signature.
Euronovate is the first company to offer an end-to-end approach with legal support for electronic signature rules, process reenginering, system integration, hardware, software platform and digital archiving. Customers benefit from lower costs, a more efficient process, and an overall better experience.
 
Innovation type: Back office, sales, security

FinoveraLogo.jpg

Finovera is your free personal bookkeeper. It is the easiest and most convenient way to receive, organize and manage household bills, financial statements and important family documents – all in one secure digital file cabinet. Users link their accounts once, and Finovera automatically brings in new bills and statements, making bil
l workflow management hassle-free.
Finovera disrupts the old way of dealing with paper documents and brings the simplicity, efficiency and convenience to household information management. Finovera helps banks and credit unions to reduce customer service costs, increase customer satisfaction and deepens relationships to maximize customer wallet share.
Innovation type: Mobile, payments, PFM

IdeonChoiceLogo.jpg

The CHOICE direct-to-consumer model allows retail customers to create individualized savings and/or investment solutions from the convenience of any channel and device by selecting the term, guaranteed minimum rate, liquidity and source of additional potential return, all with the security of FDIC insurance, in a completely transparent, clear and honest manner.
Innovation type: Back office, banking, investing, mobile, online

IDologyLogo.jpg

See the next generation in knowledge-based authentication – a SaaS solution that allows businesses to present custom, out-of-wallet questions to consumers using their own data. 
IDology’s ExpectID Enterprise gives banks the ability to generate out-of-wallet questions using their internal proprietary customer transactional data located behind their firewall and without ever having to share that data with us. It is time to replace your shared secret questions (What is your mother’s maiden name?) with a higher security model that isn’t compromised by social media or vulnerable to account take overs. Be able to meet FFIEC compliance guidelines while creating a safer authentication method on high-risk transactions.
Innovation type: Identity, security

Thumbnail image for LeadfusionLogo.jpg

See how the vexing problem of cross-channel integration has finally been solved! Financial institutions can now seamlessly connect the online and branch experience for consumers as they shop for financial products. 
A consistent consumer experience, easy ‘take your work with you’ cross channeling, best practice branch consultations, helpful product guidance, higher conversion rates, increased brand loyalty – just some of the many compelling benefits of Leadfusion’s new Cross Channel Selling solution. Unveiled publicly for the first time at FinovateFall 2012, from the leader in financial experience management.
Innovation type: Banking, marketing, sales

ManillaLogo.jpg

Manilla.com is a free, award-winning service that helps consumers manage everything in their lives in one place. Using just one password, consumers can track their financial accounts, household accounts and utilities, subscriptions, daily deals, and travel rewards, all through Manilla.com or Manilla mobile apps. 
Manilla stores account documents, sends reminders to help avoid late fees, and gives consumers a complete overview of their accounts, all through a clean, simple interface. For businesses, Manilla decreases costs by moving customers to paperless billing, accelerates revenue by driving on-time payments, and offers a powerful marketing platform for businesses to engage their customers.
Innovation type: Communications, mobile, PFM

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MShift presents AnyWhereMobile: a new payment network that enables Community Banks and Credit Unions to become the issuers of mobile wallets. 
Simultaneously, the AnyWhereMobile payment network will multiply the net Interchange income of both debit and credit for Community Banks and Credit Unions, slash the merchant discount fees borne by merchants by more than half and eliminate the majority of fraud. The huge savings generated by AnyWhereMobile empowers merchants to generate more merchant-centric rewards and discounts for consumers.
Innovation type: Banking, cards, payments

PlayMoolahLogo.jpg

PlayMoolah is on a mission to change the way kids and teens use their money! We design fun technologies for kids to experience money management to earn, spend, save, invest, and give. Through real dollars, real action, and real impact, we hope for kids to take control of their money, and become empowered by using it to live their dreams and create value for the world.
Innovation type: Marketing, online, PFM

Numbers: Sunny Outlook for Mobile Banking (U.S.)

image ComScore’s latest mobile usage numbers provide useful context as you head in to the 2013 business planning cycle. With 42 million monthly smartphone users, mobile banking penetration (38%) is similar to other specialized information services such as sports (39%), news (49%), and movie info (30%).

Granted, banking still trails the gold standard of info services, the weather button, but it’s gaining ground.

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Table: Information services accessed by U.S. mobile users
2012, Q2 monthly average

  Smartphone % Using All Mobile % Using
Total audience 110 mil 100% 230 mil 100%
Weather 75 mil 67% 90 mil 38%
Facebook, Twitter* 71 mil 64% 86 mil 37%
Search 67 mil 60% 80 mil 34%
Map 59 mil 53% 68 mil 29%
News 54 mil 49% 64 mil 27%
Sports 43 mil 39% 51 mil 22%
Bank account 42 mil 38% 49 mil 21%
Entertainment news 42 mil 38% 51 mil 22%
Movie info 34 mil 30% 40 mil 17%

Source: ComScore MobileLens as cited in Advertising Age, 20 Aug 2012; 3-month average ending in June 2012; usage counted is the user accessed info in the category at least once in past 30 days; *any social networking site; percentages may be off by 1% due to rounding of the numbers to two significant digits

Finovate Alumni News– August 27, 2012

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgVirtual Piggy and Unity Technologies unite to bring seamless game development monetization. Check out Virtual Piggy at FinovateFall.
  • Optus launches direct billing service with Boku, RIM.
  • Des Moines blog looks at Social Money’s success.
  • WSJ considers how HelloWallet can help you manage your finances.
  • Dashlane launches app for Android. Check out Dashlane at FinovateFall in New York.
  • FXCM deploys Check Point’s 12000 and 4000 series appliances.
  • Times of Malta reports Ixaris to move office, eyes new markets.
  • Dwolla introduces reddit Donate, a new platform to give.
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.

Singapore-Based Tagit Adds Maybank as Customer

TagitLogo.jpg

Singapore-based Tagit announced today that Maybank is the latest customer using its mobile app.

The Malaysian bank’s app will have the following capabilities:

    • Enable customer account enquiries 
    • Bill payments
    • Online funds transfers  
    • Cross-market transactions
    • Locate branches and ATMs
    • User-personalized loading page with customized pictures 
    • Instant games and rewards
    • News and updates on product deals

The app is now available in the Apple App Store.

To learn more about Tagit, watch its FinovateEurope 2011 demo.

Finovate Alumni News– August 24, 2012

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgMaybank Singapore launches mobile banking services on Tagit’s mobile platform.
  • Simple (formerly BankSimple) launches goals feature.
  • Global Enterprise selects Tradeshift to roll out e-invoicing to 36k suppliers.
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.

Seven Finovate Alumni Listed in the 2012 Inc. 5000

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Inc. Magazine recently released its list of the top* 5000 fastest-growing, private U.S. companies. Seven Finovate alums made the cut.

Here’s a quick breakdown:

Thumbnail image for creditkarmalogo.jpgCredit Karma

Rank: 40
Description: Free consumer credit score reporting, tracking and advice service
3-year revenue growth: 54x
2011 revenue: $5.7 million
2008 revenue: $110,000
Employees: 27
Employee growth: 21
Founded: 2007
Thumbnail image for OnDeckLogo.jpg

Rank: 302
Description: Small business loan underwriting platform
3-year revenue growth: 13x
2011 revenue: $19 million
2008 revenue: $1.5 million
Employees: 96
Employee growth: 64
Founded: 2006

BraintreeLogo.jpg

Rank: 415
2011 ranking: 47
Description: Online payment processing platform
3-year revenue growth: 10x
2011 revenue: $9.9 million
2008 revenue: $990,000
Employees: 60
Employee growth: 45
Founded: 2007

Plastyc2.jpg

Rank: 564
Description: Prepaid services for the underbanked
3-year revenue growth: 7.6x
2011 revenue: $3.3 million
2008 revenue: $430,000
Employees: 7
Employee growth: 4
Founded: 2005

Thumbnail image for BazaarvoiceLogo.jpg

Rank: 667
Description: Provides software that captures and analyzes consumer-generated reviews 
3-year revenue growth: 6.4x
2011 revenue: $65 million
2008 revenue: $10 million
Employees: 780
Employee growth: 680
Founded: 2005

Thumbnail image for Q2ebankingLogo.jpg

Rank: 790
2011 ranking: 377
Description: Supports mobile banking applications for FIs
3-year revenue growth: 5.3x
2011 revenue: $27 million
2008 revenue: $5.1 million
Employees: 197
Employee growth: 138
Founded: 2004

Thumbnail image for Authentify.jpg

Rank: 1761
Description: Provides authentication services
3-year revenue growth: 2.6x
2011 revenue: $9.8 million
2008 revenue: $3.7 million
Employees: 29
Employee growth: 10
Founded: 1999

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*Methodology

The 2012 Inc. 500|5000 is ranked according to percentage revenue growth when comparing 2008 to 2011. To qualify, companies must have been founded and generating revenue by March 31, 2008. The minimum revenue required for 2008 is $100,000; the minimum for 2011 is $2 million.