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Finovate Alumni News– October 16, 2013

By Julie Muhn (@julieschicktanz) Posted on October 16, 2013
Categories: Lending Club, ReadyForZero, Tuition.io, Xero

New Xero Touch for iOS launches today. ReadyForZero is expanding its online consumer offering to include the VantageScore 3.0 credit score. Pando Daily looks at Tuition.io's current usage numbers and funding status. Finextra reports: Head of Capital One Bank small business lending joins Lending Club. 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 2013 Sneak Peek: Part 1

By David Penn Posted on October 15, 2013
Categories: FinovateAsia 2013, FinovateAsia 2013 Sneak Peek

On November 14, Finovate will return to Singapore for FinovateAsia 2013. 37 companies will demo live on stage. This initial installment of our Sneak Peek series is your first opportunity to get to know a little more about this year's presenters. We'll cover the remaining companies during the next two weeks.

__________________________________________________ Advanced Merchant Payments enables banks and other institutional lenders to profitably offer short-term, unsecured loans to small businesses based upon electronic cash flow and other data points. Features: Creates new product set and revenue stream with minimal investment Establishes MSME leadership position via low risk product Supports core merchant strategy regarding customer loyalty Why it's great: Innovative, proven solution enabling banks to lend to their existing small business customers on a profitable and efficient basis.

Thomas De Luca Managing Director and Co-Founder Previously co-founded multi-currency payment processor Planet Payment, Inc. Before that, Legal Affairs at American Express. LinkedIn

James Phillip…

Finovate Alumni News– October 15, 2013

By Julie Muhn (@julieschicktanz) Posted on October 15, 2013
Categories: Check, Comarch, Encap, Kabbage, Leaf, Manilla, Mint.com, PayPal, Ping Identity

PayPal partners with Revel systems for its physical POS device. TechCrunch interviews Ping Identity Founder, Chairman, and CEO Andre Durand. Capitol Public Radio interviews Kabbage. Comarch launches mobile business banking solution in the U.K. Looking for an app to manage your money? USA Today suggests solutions from three Finovate alumni: Manilla, Mint, and Check. StreetFight features Leaf among its list of 5 mobile payment platforms with integrated marketing solutions. Encap announces partnership with ForgeRock to bring multifactor intelligent authentication to OpenAM. 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.

Cloud Accounting Platform Xero Raises $150 Million from Investors and Shareholders

By Julie Muhn (@julieschicktanz) Posted on October 14, 2013
Categories: Funding, Xero

Xero, a New Zealand-based company that creates cloud-based accounting software, has experienced a large growth spurt lately. Earlier this month, it officially launched in the U.S. and today it announced the largest installment of equity funding we've seen for a Finovate alum thus far.

The $150 million (NZ $180 million) in funding comes from a range of investors and existing shareholders. When combined with last year's $49 million from Peter Thiel and Matrix Partners, and other previous rounds, the company's total funding amounts to $230 million.

In the video below, CEO Rod Drury explains the funding and how it plans to use the cash.

Xero demoed at FinovateSpring 2011 where it debuted its Business Identification product.

Finovate Alumni News– October 14, 2013

By David Penn Posted on October 14, 2013
Categories: Check, Dynamics, FIS, Fiserv, Flint Mobile, GoBank, MasterCard, Moven

Forbes column on banking and mobile payments highlights Finovate alumni Check, Fiserv, and FIS. BBC features MasterCard's efforts to replace food stamps and cash with cards in Lebanese refugee camps. Jim Marous references GoBank and Moven in report on innovation in mobile banking functionality. LowCards.com reports: Dynamics offers artistic credit cards. Flint Mobile opts for camera over card reader. 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– October 11, 2013

By David Penn Posted on October 11, 2013
Categories: Arroweye Solutions, Arxan Technologies, CurrencyFair, Deluxe, ValidSoft

Technology Banker takes a look at Arroweye Solution's EMV On-Demand solution. Deluxe launches new website. CurrencyFair shows off its new mobile phone look. Read more about CurrencyFair in yesterday's FinovateAsia feature. Arxan Technologies announces new tamper-proof jailbreak detection security & environmental sensing technology. Spindle uses ValidSoft to authenticate mobile payments by voice. 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.

Back to the Future with FinovateAsia 2012’s Best of Show Winners

By David Penn Posted on October 10, 2013
Categories: CurrencyFair, Finantix, FinovateAsia 2012, FinovateAsia 2013, SocietyOne, UBank

With a new round of fintech innovators less than a month away from taking the Finovate stage in Singapore, it's a great time to review last year's breakout performers.

Who were the winners (as determined by audience vote)? What did they present? And most importantly, what have they been up to in the weeks and months since?

To answer those questions and more, here's a look at what's new and notable from the Best of Show winners of FinovateAsia 2012.

_________________________________________________

CurrencyFair Who They Are: Specialists in peer-to-peer international money transfers, CurrencyFair presented an upgrade to the user interface for their MarketPlace screens. Why They Won: Sending money abroad is fraught with cost and complication. CurrencyFair's MarketPlace solution creates an online, person-to-person environment in which individuals can negotiate their own exchange rates with each other. What They've Been Up To: Won" "Most Insightful & Intriguing Internet Innovation" award Reached $500 million…

First Data Launches Clover Station Cloud-Based POS Solution for SMEs

By David Penn Posted on October 10, 2013
Categories: Clover Network

Consider Clover's relationship with First Data consummated.

As reported in TechCrunch, Gigaom and elsewhere, First Data quietly acquired the ecommerce checkout specialist and FinovateSpring 2012 alum last year. And yesterday at Money 2020, First Data CEO Frank Bisignano announced the launch of their Clover-inspired solution for small businesses: Clover Station.

Clover Station is a cloud-based, point-of-sale and business management solution. What makes the solution special is that it provides the full point of sale terminal functionality of traditional POS units (the ability to track employees and inventory, for example). But at the same time, the merchants will be able to customize the technology by either downloading task-specific apps, or developing apps of their own through Clover's API.

Additional features include: Real-time business analytics and intelligence reports Remote access at any time from any location High-resolution camera for instant QR code recognition High-definition touch screen Enhancements and peripherals such as…

Finovate Alumni News– October 10, 2013

By Julie Muhn (@julieschicktanz) Posted on October 10, 2013
Categories: Arroweye Solutions, Backbase, Balance, BBC Easy, Cachet Financial Solutions, Digital Insight, Equifax, Finagraph, FIS, Guardian Analytics, InComm, MasterCard, Mortgagebot, On Deck Capital, Payfone, SecondMarket, Simple, Tyfone, ValidSoft

Backbase on Track to Expand into UK Market. Arroweye Solutions launches EMV On-Demand. TaxAct acquires Balance Financial. ICBA Mortgage extends its agreement with D+H Mortgagebot. InComm partners with Jackson Hewitt Tax Service to unveil new GPR card. Early Warning makes equity investment and commercial agreement with Payfone for its mobile authentication. Digital Insight working with Delta Community CU to offer members digital banking services and solutions. Guardian Analytics announces FraudMAP Connect, real-time collaboration platform & fraud intelligence community. Cachet Financial Solutions launches new mobile money management application and platform, Select Mobile Money. Equifax enhances underwriting decisions for lenders and businesses with release of advanced decisioning attributes. BBC Easy formally rebrands to Finagraph. Simple announces new MoneyDrop, instant P2P $$ transfer technology. OnDeck ranked #20 in SellingPower Magazine's 50 Best Companies to Sell For List. Ven partners ValidSoft to secure virtual currency transactions. SecondMarket CEO explains latest…

Who’s Flocking to FinovateAsia – and From Where?

By David Penn Posted on October 8, 2013
Categories: FinovateAsia 2013

From Appenzell and Bangkok to Melbourne and Taipei to Singapore itself, the fintech professionals who will be heading to FinovateAsia in little over a month are truly coming from the four corners of the Earth.

But they say that seeing is believing. So here's a heatmap of the home cities of this year's FinovateAsia attendees.

©2012 Esri & Stamen, Data from OSM and Natural Earth Representing the home countries of: Australia Azerbaijan China Germany Great Britain Hong Kong India Indonesia Israel Japan Malaysia Philippines Singapore South Africa Switzerland Taiwan Thailand United States

FinovateAsia 2013 returns to the MAX Atria at Singapore Expo on November 14, 2013 for a full day of demonstrations, presentations and networking with industry professionals, bankers, venture capital, and the fintech media.

For more information, and to save your spot, visit our FinovateAsia 2013 page here.

FIS Brings Cloud-Based, Real-Time Core Banking Utility to Central, Eastern European Banks

By David Penn Posted on October 8, 2013
Categories: FIS

One of the biggest memes to emerge from FinovateFall 2013 last month was the impressive innovation coming from not just European banks, but from Central and Eastern European banks, in particular.

Apropos of that meme is news that FIS will be launching the first, real-time, core banking utility in the cloud for mid-tier banks in, you guessed it, Central and Eastern Europe.

Hosted by Polish payment processor Krajowa Izba Rozliczeniowa S.A. (KIR), which handles more than 120 million transactions a month, the new Software-as-Service solution called FIS Profile promises: Access to established product library to speed time-to-market Greater insight into customer/bank relationships, providing for customized product offerings Real-time banking with seamless integration to new digital channels Low cost of ownership KIR earned the title of Market Leader for Bank Innovation in 2012. The company secured its ISO 22301:2012 compliance certificate from the British Standards Institution the following year. Based in…

Fenergo Secures 4 Million Euro Investment from Investec Ventures

By David Penn Posted on October 8, 2013
Categories: Fenergo

In its first external funding round, customer onboarding specialist Fenergo announced this morning that they had raised €4 million ($5.43 million USD). The new equity investment comes courtesy of Investec Ventures, and includes co-investment from current shareholders.

Fenergo plans to use the additional investment to expand their global presence in North American, Europe, and the Asia-Pacific region. Fenergo is based in Dublin, Ireland.

Investec Ventures partner John Dolan, who will be joining the Fenergo board, said, "(Fenergo) has proven deployments with large global tier one banks and is solving a real pain point for financial institutions who have relied primarily on labor intensive manual processes in onboarding new clients." Fenergo develops software that helps financial institutions better meet regulatory and compliance requirements during the onboarding process. The company demoed its Deal Manager software as part of the FinovateEurope 2012 show (see their presentation here), and is looking to accelerate…