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Locaid Demonstrates Geofence, a Geolocation API

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

Next, Locaid demonstrated Geofence:

“Locaid Geofence is a new API that allows financial services, bank and card issuers to combine and compare real-time customer locations with card swipe and transaction location data (POS et al).

Using Locaid’s Location-as-a-Service, banks can compare mobile location to POS locations to determine fraud potential, reduce false positives and drive enhanced cardholder engagement. The Geofence API also allows the bank to create alerts whenever cardholders enter or leave the defined areas, such as branch or ATM locations.”

Product Launched: July 2012

HQ Location: Boca Raton, FL

Company Founded: 2005

Metrics: $26.2M total in venture funding: Series A (November 2005) $5M; Series B (January 2008) $8.15M; Series C (February 2011) $13M

Website: loc-aid.com

Twitter: @Locaid

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

Introducing Rip Gerber (CEO)

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ImpulseSave Gives Users a Point of Saving

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

Third to take the stage, ImpulseSave launched its platform that gives users a point of saving:

“ImpulseSave’s new savings tools make saving just as easy, as front-of-mind and as fun as spending. Our users are saving between two and three times the national average and are engaging on a daily and weekly basis.

Through our simple web and mobile apps we offer an alternative gratification experience to consumption that redirects that money toward saving. In addition to, instead of, or whenever the impulse strikes them, Consumers now have a “Point of Saving” at every point of sale, and at every point in between.”

Product Launched: September 2012

HQ Location: Cambridge, MA

Company Founded: February 2011

Metrics: 4 full-time employees

Website: impulsesave.com

Twitter: @impulsesave

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

Introducing Phil Fremont-Smith (Co-Founder & CEO) and Anne Steinhaus (VP Product)

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IND Group Launches Solution to Help Customers with Financial Planning

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

Second up, IND Group launched Story of My Finances:

“Story of My Finances is a completely new approach to digital financial customer service. It takes online banking and PFM to a next level of mass retail financial planning and advice.

Stories are customer-driven financial life processes, like “How to spend less”, “Prepare for a rainy day”, “Buy a home” or “Retirement planning.” Stories help end-customers to get financially fit and to have a peace of mind. Stories are the missing link between everyday people and financial products. We believe that we can improve people’s financial life by licensing our white-label technology to financial institutions.”

Product Launched: September 2012

HQ Location: Munchen, Germany

Company Founded: 1997

Metrics: 12M € in revenue, 7 offices, 225 employees, 30 retail banks and financial institutions as clients

Website: indgroup.eu

Twitter: @indgroup

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

Introducing Jozsef Nyiri (Founder & Chief Innovator) and Roland Pecsenye (Founder & Executive Chairman)

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IDology’s Security Uses Transaction Data to Authenticate Users

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

First on stage for day two of Finovate, IDology showed how it can use customer transaction data to authenticate users:

“Our new product, ExpectID Enterprise, is the next generation of knowledge-based authentication and allows businesses to present custom, out-of-wallet questions to consumers using their own data. Banks are able to leverage IDology’s SaaS solution to generate out-of-wallet questions from their internal proprietary customer transactional data located behind their firewall and without ever having to share that data with us.

This allows banks to replace their shared secret questions (What is your mother’s maiden name?) with a higher security model that isn’t compromised by social media. ExpectID Enterprise helps banks meet FFIEC compliance guidelines while creating a safer authentication method on high-risk transactions.”

Product Launched: February 2011

HQ Location: Atlanta, GA

Company Founded: 2003

Website: idology.com

Twitter: @IDology

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

Introducing John Dancu (CEO) and Chris Luttrell (VP Product &

Customer Service)

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MShift Introduces AnyWhereMobile

By Julie Muhn (@julieschicktanz) Posted on September 12, 2012
Categories: FinovateFall 2012, mShift

Concluding the first day here at Finovate, MShift showed how its solution helps community banks and credit unions issue mobile wallets:

“MShift presents AnyWhereMobile, a new payment network enabling Community Banks and Credit Unions to become the issuers of mobile wallets, and receive revenues from mobile payments.

The AnyWhereMobile payment network will multiply the net interchange income of both debit and credit transactions for financial institutions, simultaneously slashing interchange fees for merchants by more than half. The technology behind the AnyWhereMobile initiative eliminates the majority of fraud losses for both issuers and merchants, and empowers merchants to generate additional rewards and discounts for consumers.”

Product Launching: Mid-2013

HQ Location: Fremont, CA

Company Founded: September 1999

Metrics: At 40+ employees, MShift’s history is as a profitable mobile banking company based in Silicon Valley. Now, they have innovated a new payment rail for use in their mobile wallets. MShift’s last capital raise was in 2000.

Website: mshift.com

Twitter: @MShiftMobile

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

Introducing Scott Moeller (Chairman & CEO)

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Deluxe’s SwitchAgent Helps Users Change Financial Institutions

By Julie Muhn (@julieschicktanz) Posted on September 12, 2012
Categories: Deluxe, FinovateFall 2012

Then, Deluxe launched SwitchAgent to help users switch financial institutions:

“SwitchAgent is an automated account switching service for banks and credit unions that enables consumers to easily switch from one financial institution to another. Using patent-pending technology and automated concierge services, it is the first solution of its kind available to U.S. financial institutions, and this newly enhanced service now includes the movement of online bill pay accounts.

SwitchAgent saves consumers time by automatically shifting multiple online payments from their old account to their new account, using our key differentiator – the service’s automated scoop functionality for online bill pay.”

Product Launched: September 2012

HQ Location: Shoreview, MN

Company Founded: 1915

Metrics: Over $1.4B in annual revenues, 5000+ employees, and more than 6400 financial institution clients

Website: deluxe.com

Twitter: @DeluxeCorp

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

Introducing Petro Tsarehradsky (VP, Marketing) and Tieg Herman (Senior Product Manager)

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Dynamics Demos Triple Interface Card

By Julie Muhn (@julieschicktanz) Posted on September 12, 2012
Categories: Dynamics, FinovateFall 2012

Next, Dynamics introduced its Triple Interface card:

This card, which stems from its original suite of products, is a technology-agnostic platform that enables consumers to use credit or rewards points as payment. The card includes both embeddable and contactless chips that allow for transactions to be executed with a tap, swipe, or EMV insert.

Product Launched: September 2012

HQ Location: Pittsburgh, PA

Company Founded: September 2007

Metrics: Over $40M raised, over 100 employees

Website: dynamicsinc.com

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

Introducing Jeff Mullen (CEO)

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Virtual Piggy Demonstrates its Kid-Safe Online Payments Platform

By Julie Muhn (@julieschicktanz) Posted on September 12, 2012
Categories: FinovateFall 2012, Virtual Piggy

Then, Virtual Piggy showed the audience how kids under the age of 18 can purchase safely online:

“Virtual Piggy allows youth to purchase directly from merchants with a process that is safe, fully COPPA compliant, PCI compliant, and controlled by their parents.

The parent provides all personal information from the billing account, including credit card numbers and home shipping address. This then allows a child to make a purchase on an integrated merchant site by logging into their account at the shopping cart. If the parent has allowed sufficient funds, and the merchant has been approved, then the transaction is completed.”

Product Launched: March 2012

HQ Location: Hermosa Beach, CA

Company Founded: February 2008

Website: virtualpiggy.com

Twitter: @followpiggy

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

Introducing Jo Webber (CEO & Founder) and Pradeep Ittycheria (CTO & Co-Founder)

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Akamai Demos Kona Site Defender, a Cloud-Based Web Security Solution

By Julie Muhn (@julieschicktanz) Posted on September 12, 2012
Categories: Akamai, FinovateFall 2012

Akamai took the stage next to demo its cloud-based web security solution:

“Web based attacks have been on the rise, with financial services being 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 service institutions protect against both large scale denial of service and sophisticated application-layer threats seeking to compromise their brands, applications and associated data.”

Product Launched: February 2012

HQ Location: Cambridge, MA

Company Founded: September 1998

Metrics: Akamai (AKAM) is a public company listed on NASDAQ, having gone public in 1999. The company produced $1,159M in revenue in 2011 with over 2,000 employees and 3,500 customers

Website: akamai.com

Twitter: @Akamai

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

Introducing John Buten (Director of Industry Marketing) and Matt Brightman (Senior Solutions Engineer)

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Actiance Uses Salesforce to Enhance Customer Engagement

By Julie Muhn (@julieschicktanz) Posted on September 12, 2012
Categories: Actiance, FinovateFall 2012

Second up, Actiance demonstrated how it taps Salesforce to enhance FI customer engagement:

“Actiance will be demoing the first social media enablement platform to incorporate CRM data from Salesforce. With Socialite, users can now maximize the power of Salesforce, monetize their social involvement and increase revenue. Socialite from Actiance allows financial advisors, agents and sales and marketing organizations to engage with clients, build customer relationships, and create a personal brand – all while being compliant with FINRA and SEC regulations.

Key features of this new offering include: linking Socialite contacts to Salesforce accounts, mapping Salesforce accounts to Socialite connections and sending Socialite activity to Salesforce when contacts provide feedback or respond to posted content. In addition, Actiance will be demoing its new Socialite Mobile application for the iPhone.”

Product Launched: August 2012

HQ Location: Belmont, CA

Company Founded: 1998
Metrics: 250 employees worldwide; 9 of the top 10 banks in North America, the top 5 banks in Canada and 3 of the top 5 energy companies all use Actiance’s products.

Website: actiance.com

Twitter: @Actiance

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

Introducing Sarah Carter (General Manager, Social Business) and David Cho (Lead Social Collaboration)

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Yodlee Unveils Small Business Center Platform

By Julie Muhn (@julieschicktanz) Posted on September 12, 2012
Categories: FinovateFall 2012, Yodlee

First up after intermission, Yodlee demonstrated its platform for small businesses:

“Yodlee’s dynamic banking experience is now targeting small businesses on the go, with easy to use financial management tools that simplify cash management in a digital environment.

We’ll be showcasing how small business owners can aggregate their account information, view key business metrics, manage and categorize their expenses on the fly, and easily move money between accounts or pay bills anywhere, anytime from a single platform. The service empowers both banks and small business owners, delivering exceptional functionality via Yodlee’s unique FinApp architecture.”

Product Launching: Q1 2013

HQ Location: Redwood City, CA

Company Founded: June 1999

Metrics: 13 years of bank technology, leadership and innovation, 700+ employees globally, 30% annual YOY revenue growth, 35M+ registered users, >$3 Trillion in personal finances being tracked through Yodlee solutions

Website: yodlee.com

Twitter: @Yodlee

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

Introducing Anil Arora (President & CEO) and Eric Connors (SVP, Products)

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Experian’s Prequalification Tool Empowers Consumers While Bringing Value to FIs

By Julie Muhn (@julieschicktanz) Posted on September 12, 2012
Categories: Experian, FinovateSpring 2012

Last up in this session, Experian demonstrated its Premium Prequalification tool:

“Premium Prequalification is a powerful credit-screening tool that allows institutions to proactively utilize individual credit data online, in real time to:

Empower consumers with a snapshot of their credit health
Save consumers time and money by instantly providing them with their best options

With Premium Prequalification, providers and lead generators have access to a powerful marketing tool that drives traffic; lowers online acquisition costs; and provides high-quality, credit-qualified leads. This best-in-class process also offers Prequalification Triggers, notifying consumers of recent changes to their credit while offering relevant products, and Credit Comparables, which compares individual credit to the neighborhood average. Experian encourages all online institutions to redefine their acquisition game with Premium Prequalification.”

Product Launched: January 2012

Headquarters Location: Dublin, Ireland

Company Founded: 1897

Website: experian.com

Twitter: @Experian

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

Introducing Steve Wagner (President, Consumer Information Services) and Michele Pearson (VP, Prospecting & Acquisitions)

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