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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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Banno Shows off Grip’s New Capabilities

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

Next, Banno (formerly T8 Webware) demonstrated new capabilities of Grip:

“Banno will unveil Grip’s ability to provide insights before the transaction with its new, seamlessly integrated decision-support features and overhauled user interface.”

Product Launched: September 2012 at FinovateFall

HQ Location: Cedar Falls, IA

Company Founded: March 2008

Metrics: $500k raised, 61 employees

Website: banno.com

Twitter: @BannoHQ

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

Introducing Wade Arnold (CEO) and Ben Metz (Lead Product Engineer)

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Stockr Launches Social Investing Platform

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

Third, Stockr debuted its social network for investing:

“Over 70 million people use the Internet to obtain financial information, yet the current platforms for discussion are archaic and inefficient. Millions of stock market investors visit Yahoo! Finance message boards and/or subscribe to stock newsletters despite the lack of transparency, poor communications, and rampant spamming. Stockr has constructed a social network for investing, bringing identity and transparency to an otherwise anonymous environment, and unveiling a new layer of market information.”

Product Launched: September 2012

HQ Location: Santa Monica, CA

Company Founded: June 2010

Metrics: $1.2M raised, 8 employees, 500 private beta users

Website: stockr.com

Twitter: @stockr

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

Introducing Vinny Jindal (Co-Founder & CEO)

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Credit Sesame Launches Financial Fitness Indicator

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

Second up, Credit Sesame launched a solution to give users a comprehensive view of their financial situation:

“Credit Sesame introduces a new financial dashboard and Financial Fitness Indicators that provide the external context a user needs so they can fully analyze and optimize their financial situation.

The new capabilities will give users a comprehensive assessment of their individual financial situation, analyze current market trends and provide action plans to capitalize on them. It provides users with valuable insight into the successes of their peers so their patterns can be emulated. The new Financial Fitness Indicators sum up all of consumer’s credit and debt information into visual components that an individual can use to determine their overall financial fitness.”

Product Launched: September 12, 2012

HQ Location: Sunnyvale, CA

Company Founded: January 2010

Metrics: $19.34M raised, 20 employees

Website: creditsesame.com

Twitter: @CreditSesame

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

Introducing Adrian Nazari (Founder & CEO) and Linden Kohtz Garcia (Public Relations Manager)

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