Teslar Teams Up with Liberty National Bank to Boost Commercial Lending

Photo by Vadim B from Pexels

Automated workflow and portfolio management solutions provider Teslar Software is partnering with Liberty National Bank. The Oklahoma-based bank will use Teslar’s technology to boost productivity, increase transparency, and streamline its commercial lending process.

“By leveraging our advanced portfolio management tools,” Teslar CEO and founder Joe Ehrhardt said, “Liberty National Bank will benefit from stronger data and increased visibility in the commercial lending process, helping them carry out their growth plans with confidence.”

Specifically, the bank will use Teslar’s technology to enhance its exceptions tracking, reporting, and portfolio management. This will give Liberty National Bank’s loan officers better access to more customer information, enabling them to both better engage customers as well as take advantage of potential cross-selling opportunities.

“We’re confident that through our partnership with Teslar, we’ll be able to boost efficiencies, improve accuracy of information, and provide better customer service, ultimately helping us rise above the competition,” Liberty National Bank Chief Credit Officer Michael Bucher said. “Our bank appreciates that Teslar’s platform is built by former bankers who understand our unique challenges and goals.”

With seven branches in five counties in Oklahoma, and a new loan production office in Oklahoma City, Liberty National Bank has nearly doubled its asset size over the past ten years. Founded in 1902 as the Bank of Elgin before Oklahoma had been granted statehood, the institution became Liberty National Bank in 2002. Currently serving customers in Oklahoma and North Texas, the bank has assets of $456 million as of last summer.

Teslar provides community banks and credit unions with a lending and credit management SaaS solution that enables them to manage all stages of the loan lifecycle, from pipeline and call activity to loan review. The company behind the technology, 3E Software, was founded in 2008 and is headquartered in Springdale, Arkansas. Teslar has been a Finovate alum since 2015.

Tink Acquires Eurobits; A Look at Financial Inclusion 3.0

Tink Ties Up with Eurobits Technologies – Stockholm-based open banking platform Tink, announced late last week that it is acquiring Spanish account aggregation services provider – and fellow Finovate alum – Eurobits Technologies for $17 million (€15.5 million). The acquisition will enhance Tink’s position in Southern Europe, extending the firm’s presence to 17 markets around the world.

“We are extremely impressed by the Eurobits team, what they have built and their very strong position in Southern Europe,” Tink co-founder and CEO Daniel Kjellén said. “Not only does it strengthen our platform through increased connectivity, it also gives existing Eurobits customers access to our payment initiation and data services.”

A certified account information and payment initiation services provider (PISP), Eurobits facilitates more than 50 million transactions a month in Europe and Latin America. The company, which demonstrated its account aggregation technology at FinovateEurope 2019, works with some of Europe’s biggest fintech and financial institutions, including BBVA, Santander, and Fintonic. Founded in 2014, Eurobits is headquartered in Madrid, Spain.

“Tink is undoubtedly one of the most innovative companies within open banking,” Eurobits CEO Arturo Gonzalez Mac Dowell said. “Joining forces with them to help expand their coverage across Europe and Latin America is a unique opportunity, not only for both of our businesses, but for the broader industry as a whole.”

Tink’s most recent Finovate appearance was also at FinovateEurope 2019. Founded in 2012, the company began this year with a major fundraising, picking up $100 million in funding in a round co-led by Dawn Capital, HMI Capital, and Insight Partners. Tink has collaborated with PayPal, Klarna, NatWest, and ABN AMRO. The company’s platform is used by more than 5,000 developers.

No Static at All: The Finovate Podcast Features Tosin Agbabiaka of Octopus Ventures – Be sure to catch the latest episode of the Finovate Podcast with host Greg Palmer. His most recent episode features Octopus Venture’s Tosin Agbabiaka whose presentation on the future of financial inclusion was one of the more captivating addresses at FinovateEurope in Berlin earlier this year.

Here is our weekly look at the latest news from our Finovate alums.

  • Strands to offer its product suite on Oracle’s Banking-as-a-Service platform.
  • Mambu to power the private debt investment platform of Goldbell Financial Services.
  • Lendio facilitates $2+ billion in loans to U.S. small businesses.
  • Fiserv and U.S. Bank ink data sharing agreement.
  • Daon to deliver onboarding and biometric authentication solutions to SE Asia’s TONIK digital bank.
  • Trusona to provide Radiologex with user authentication technology.
  • Canada’s Interior Savings Credit Union to deploy core processing technology from Fiserv.
  • DriveWealth inks partnership with UAE-based wealth management firm, WealthFace.
  • HooYu teams up with Baanx to help the mobile cryptocurrency platform conduct identity verification.
  • Revolut introduces Revolut Junior, a money management app for kids aged seven to 17.
  • Personetics announces strategic partnership with Avaloq.
  • Jumio donates identity verification services, via its automated solution, Jumio Go, to help organizations dealing with the COVID pandemic.
  • SumUp introduces its free mobile payments and invoicing offering for EU merchants.
  • Salt Edge partners with Hungary’s second largest online invoicer, Billingo.
  • Behavioral biometrics-based fraud detection solutions provider SecuredTouch earns Best Product at 2020 Loyalty Security Association Lion’s Den.
  • iGTB teams up with First Abu Dhabi Bank.
  • Green Dot names Dan Henry as CEO.
  • Aire offers three months of free access to its credit information services to help lenders during the coronavirus crisis.
  • Tink acquires Eurobits Technologies, a Spanish account aggregation vendor, for $17 million (€15.5 million).
  • Best of Show winning financial literacy app Zogo teams up with financial coop VolCorp.
  • Minna Technologies and Jscrambler earn finalist spots in the Tech5 Founders Day competition among top European startups.
  • Personetics announces strategic partnership with Avaloq.

Finovate Alumni Features and Profiles

Moven Minds its Business in B2B Pivot – In a transition announced earlier this week, Moven is moving away from the direct to consumer / neobank model to focus on what founder Brett King summed up as “our distributed smart banking and financial wellness capabilities.”

ebankIT and Enterprise Engineering Forge North American Partnership – Finovate Best of Show winner ebankIT is working with fellow Finovate alum Enterprise Engineering (EEI) to launch a new omnichannel banking solution geared toward financial institutions in North America in general, and the U.S. in specific.

Arkose Labs Locks in $22 Million for its Fraud Fighting Technology – In a round led by Microsoft’s venture capital arm, M12, anti-fraud solutions provider – and FinovateSpring Best of Show winner –Arkose Labs has raised $22 million in Series B funding. 

TheWaay, Neo Digital Banking and Serving the Mass Affluent Market – Founded in 2016, TheWaay offers a Lifestyle Banking platform that helps banks and other financial institutions better understand and meet the needs of their customers.

Revolut Arrives in the U.S.A.Revolut, the London-based fintech and alternative bank that reached unicorn status in 2018, has finally made its move to America.

Ripple Explains What’s Holding Back Blockchain Adoption – Last fall, blockchain payments company Ripple, in conjunction with Celent, conducted a survey to better understand payment services providers’ adoption of blockchain-based payments.

Lighter Capital Takes Debt Financing to Canada – The physical border between the U.S. and Canada may be closed, but that’s not stopping tech startup financing provider Lighter Capital. The Seattle-based company announced today it has launched its services in Canada.

Moven Minds its Business in B2B Pivot

Photo by Daria Shevtsova from Pexels

Blame it on the ‘rona? In a transition announced earlier this week, Moven – which made headlines recently with its partnership with Saudi Arabia’s STC Pay – is moving away from the direct to consumer / neobank model to focus on what founder Brett King summed up as “our distributed smart banking and financial wellness capabilities.”

“It has become patently clear we need to focus our energies and our resources on the segment of our business where we can reach the most consumers moving forward,” King said.

The company specifically noted the impact of the COVID-19 crisis on Moven’s funding pipeline as a leading factor in the decision. The company emphasized that its Enterprise business remains healthy and well-funded.

“The Moven brand now has the opportunity to represent patented financial well-being, available to enterprises of all types,” Head of Moven’s U.S. Strategy Denny Brandt said. “Our patent gives us competitive strength in a rapidly evolving B2B environment. We continue to be involved in ventures in multiple geographies where we power direct-to-consumer banking services.”

Moven announced that it will close customer accounts at the end of April. The company has begun to communicate with accountholders to let them know what to expect as well as to ensure a smooth transition.

Founded in 2011, Moven made its Finovate debut a few years later at FinovateEurope in London, earning a Best of Show award. The New York-based company, among the first to combine smartphone apps, debit cards, and bank accounts as part of a unified strategy for managing personal finances, launched Moven Enterprise in 2016 to license its technology to banks and other financial institutions. Moven Enterprise debuted on the Finovate stage at FinovateEurope in 2017, showing how its engagement platform brings value to customers while producing measurable, positive business outcomes for banks.

Notably, Moven’s partnership with STC Pay is not the company’s first foray into the MENA region. A little over a year ago, Moven announced that it was teaming up with Bahrain-based Almoayad Technologies, which is leveraging the company’s technology to help fulfill the open banking mandate from the country’s central bank.

ebankIT and Enterprise Engineering Forge North American Partnership

Finovate Best of Show winner ebankIT is working with fellow Finovate alum Enterprise Engineering (EEI) to launch a new omnichannel banking solution geared toward financial institutions in North America in general, and the U.S. in specific.

The collaboration will combine Enterprise Engineering’s experience as an integrator and advisor on digital transformation and open banking with ebankIT’s omnichannel digital banking platform.

“This partnership is an important step on the consolidation of our growth strategy for the North American market, where we already have a significant presence,” ebankIT CEO Renato Oliveira said. “With the change of both operations and customer service models, it is essential for banking organizations to have a flexible and sophisticated solution, capable of bringing a true omnichannel experience, which is exactly the main strength of ebankIT.”

The companies previewed this initiative back in February. The joint venture is geared toward helping banks and credit unions in the U.S. offer full-service banking capabilities, including leading-edge technology solutions, to their customers. EEI and ebankIT are marking this latest development in their relationship with a series of educational, half-day seminars on Open Banking beginning this month in New York City.

“This partnership represents a terrific opportunity for EEI and ebankIT,” EEI founder George Anderson said when the collaboration was announced. “Our product sets are extremely complimentary and are best-in-class in our target markets.” Anderson noted that the partnership will result in “impossibly fast time to market and ROI for our joint customers.”

Founded in 2014 and maintaining offices in Porto, Portugal and London, U.K., ebankIT demonstrated its Digital Concierge 2.0 solution at FinovateEurope earlier this year. The technology unites financial and third party services via open banking integrations and channel analytics to provide relevant and engaging customer journeys.

Enterprise Engineering participated in our developers conference, FinDEVr Silicon Valley, presenting its Trusted Network Platform, an advanced data aggregation and management solution. A WealthManagement.com 2018 Industry Award winner, New York-based Enterprise Engineering was founded in 1995.

Arkose Labs Locks in $22 Million for its Fraud Fighting Technology

In a round led by Microsoft’s venture capital arm, M12, anti-fraud solutions provider – and FinovateSpring Best of Show winnerArkose Labs has raised $22 million in Series B funding. The round, which takes the company’s total capital to more than $36 million, also featured participation from existing investors PayPal and USVP.

“Our platform takes a zero-tolerance approach to cyber-attacks and our team is committed to putting a stop to the global fraud epidemic,” Arkose Labs CEO and founder Kevin Gosschalk said. He praised both Microsoft and M12 for their recognition that the challenge of cybersecurity is to “eliminate fraud, rather than contain it.”

Global Head of M12 Nagraj Kashyap noted that Microsoft was no stranger to Arkose Labs’ work in fraud-fighting. “Multiple Microsoft businesses are already benefiting from this innovative technology,” he said. “With Arkose’s end-to-end anti-fraud platform, enterprises across the globe can better protect against fraud and abuse long-term.”

San Francisco, California-based Arkose Labs offers an authentication system that identifies the context, behavior, and reputation of requests, recognizing them as either authentic or inauthentic. Authentic requests are passed through, while inauthentic requests are remediated with a set of dynamic defenses. Requests that cannot be recognized are processed via a challenge-response mechanism until there is evidence of the request’s authenticity. This process also helps improve the platform’s real-time decisioning, reducing the number of false positives over time.

The platform helps defend against a variety of threats including ATO (account takeover), scraping, spam, gift card abuse, and other fraud. Microsoft Director of Identity Security Alex Weinert credited Arkose Labs for offering a cybersecurity solution that is as efficient as it is effective. “Arkose Labs’ technology is an important component of our multi-pronged approach to minimize fraud without negatively impacting legitimate customers,” he said.

Arkose Labs said that the funding will help drive platform development and fuel global expansion, as well as enable the firm to add talent. The investment comes in the wake of the firm’s near doubling of its customer base and the introduction of a number of platform enhancements. These additions include new functionality for Arkose Detect, the platform’s dynamic risk engine, and for Arkose Enforce, the platform’s adaptive step-up mechanism.

“2019 was a banner year, with our platform detecting and preventing $500 million fraud attacks over the last twelve months,” Gosschalk said in January, “saving our customers hundreds of millions in fraud losses and operational costs.”

Founded in 2015, Arkose Labs was recognized by CNBC in its 2019 Upstart 100 roster. The company’s VP of Marketing and Strategy, Vanita Pandey, and Senior Producer, Hedda Peters, won Women in Cybersecurity awards at Cyber Defense Magazine’s Cyber Defense Global Awards last fall.

Kreditech Rebrands as Monedo; Onfido Teams Up with SecureKey Technologies

German online lender Kreditech announced a rebrand this week. Now known as Monedo, the company has completed a major C-suite overhaul – including a new Chairman, CEO, CFO, and CTO, and is gearing up for an expansion into the near-prime lending markets of India, Russia, Poland, and Spain.

“The name change marks the next stage in the fundamental transformation we have been undergoing, as the company moves from a start-up to a scale-up fintech,” Monedo CEO David Chan explained. “Throughout 2019 we have been focused on successfully transitioning the company back to growth by focusing on improving operational efficiency, risk, and cost management capabilities, and strengthening our products and services.”

Chan credited this emphasis – along with the financial support of the company’s investors – for making the company “perfectly positioned” to reach its growth goals.

Monedo says that it plans to reach €1 billion in revenue by 2025, propelled both by growth in current markets as well as expansion into new ones. Founded in 2012, the company has been a Finovate alum since 2014.

A new partnership between two Finovate alums – SecureKey Technologies and Onfido – will combine AI-enabled, physical identity document proofing with real-time authentication and verification.

“Our partnership demonstrates positive market movement towards a more secure digital future for consumers,” SecureKey Technologies CEO Greg Wolfond said. “At SecureKey, we believe strong, privacy-based digital identity requires the collaboration of multiple players and are pleased to continue our track record of developing market-leading digital identity services and offerings alongside like-minded organizations.”

Toronto, Ontario-based SecureKey is a Finovate alum since its FinovateFall debut in 2010. Ondot, which is headquartered in Santa Clara, California, first demoed at Finovate 2014 and most recently presented its latest technology at FinovateSpring in 2018.

The collaboration will enable users to scan physical ID documents and have additional personal information verified in real-time from trusted sources such as financial institutions, credit bureaus, and government agencies. The companies said that this combination of credential and login document validation is key to both expanding digital capabilities worldwide as well as making identity verification a more secure and safe process for consumers.

“At Onfido, our mission is to create a more open world, where identity is the key to access,” company CEO Husayn Kassai said. “SecureKey clearly shares this same drive to build a more secure landscape where customers can have privacy, security, and consent all in one easy-to-use process,.”

Here is our weekly look at the latest news from our Finovate alums.

  • MX CEO Ryan Caldwell named Utah CEO of the Year.
  • Metro Bank to partner with Ezbob to launch small business lending platform.
  • Mambu forges partnership with Australian unsecured credit lender Nimble.
  • Minneapolis Star Tribune spotlights local fintech, ClickSWITCH.
  • BankMobile teams up with Billshark and bartleby to add functionality to its BankMobile Vibe platform for college students.
  • SME lender OnDeck announces its first ever NASCAR sponsorship.
  • Envestnet announces plans to expand operations in Raleigh, North Carolina.
  • Wipro to work with SAP Concur to co-develop solutions for retail and fashion.
  • Baker Hill NextGen to power loan origination and risk management for BankSouth lending portfolio.
  • Backbase partners with core-as-a-service platform Finxact to help banks with digital transformation.
  • DXC Technology collaborates with Tradeshift to help enterprises automate procure-to-pay processes.
  • International Banker profiles Poland’s digital banking leader mBank.
  • Nomis Solutions announces Nomis nSight, a tool to optimally price deposits and mortgages in real time.
  • Zopa celebrates 15 years. Happy birthday Zopa!
  • Signifyd launches its Commerce Protection Platform to maximize e-commerce conversion, automate customer experience, and eliminate fraud and customer abuse.
  • Zenoo selects ID R&D for its passive facial liveness digital onboarding solution.
  • Strands revamps its developer portal.
  • Zafin welcomes Venkataraman Balasubramanian as executive vice president and chief technology officer.
  • Neener Analytics partners with Visa to foster financial inclusion via its 1-click financial risk decisioning.
  • Fintech Breakthrough Awards name CUneXus Best Consumer Lending Company.
  • Jack Henry & Associates integrates BusinessManager into the SilverLake System core platform to streamline accounts receivable (A/R) financing.
  • Five Degrees adds Meniga to its open banking.
  • Salt Edge working with PwC to help businesses implement open banking technology.
  • Transportation Alliance Bank brings on Insuritas to design, launch, and manage a digital insurance agency.
  • Revolut launches Revolut Perks, a rewards and discount feature for U.K. customers.
  • Finantix acquires data science company InCube for an undisclosed amount.
  • Forte Payments launches new billpay solution.

Finovate Alumni Features and Profiles

Eigen Technologies Hauls in $42 Million to Bring NLP Tech to Financial Services – The funding comes from ING Ventures and is part of a “broader strategic partnership” that blends Eigen’s NLP technology with ING’s experience in applying machine learning to financial services.

Revolut Users Can Now Diversify with Gold – Digital alternative banking company Revolut announced this week it is helping users diversify their portfolios even further by enabling in-app purchases of gold.

Mastercard and Samsung Make Going Digital More Accessible – “This partnership with Mastercard is our way of making that future available to everyone by helping to close the digital divide, especially in emerging economies and countries,” explained KC Choi, executive vice president of Global Mobile B2B at Samsung.

Airwallex Integrates with Xero to Help SMEs Reconcile Cross-Border Payments – Small and medium-sized businesses working with Australian cross-border payments company Airwallex will be getting some help with their books. The company has announced a new partnership with New Zealand-based, cloud accounting company Xero.

Credit Sesame Launches Digital Bank Account – Financial health platform Credit Sesame announced this week it has launched Sesame Cash, a debit card aimed to help consumers reach financial stability while optimizing credit.

Marqeta Partners with Klarna and Doordash for Australia Launch – The company announced today that its arrival in the Asia-Pacific market will also help support fellow Finovate alum Klarna and customer Doordash as they expand in the country.

Enveil and the Challenge of Securing Data In Use – When it comes to defending your data, Enveil’s speciality is helping prevent you from losing it while you’re using it.

SpyCloud Integrates with ThreatConnect to Help Stop Account Takeover Attacks – A new partnership between intelligence-driven security operations platform ThreatConnect and account takeover prevention solution provider SpyCloud will help individuals take action during the critical time between credential exposure and account breach.

Eigen Technologies Hauls in $42 Million to Bring NLP Tech to Financial Services

Photo by Digital Buggu from Pexels

Natural language processing technology innovator Eigen Technologies has added $5 million (£4 million) to its Series B, taking the round’s total to $42 million and giving the firm more than $60 million in overall capital. The funding comes from ING Ventures and is part of a “broader strategic partnership” that blends Eigen’s NLP technology with ING’s experience in applying machine learning to financial services.

Eigen Technologies co-founder and CEO Dr. Lewis Z. Liu put the investment from ING in the context of the two firms’ years-long relationship. “(We) have found them to have some of the most advanced thinking in the market in the application of machine learning in financial services,” Liu said, “something that comes from their fantastic innovation culture.”

ING currently uses Eigen’s NLP technology in its LIBOR replacement and loan operations. Via the strategic partnership, the companies will accelerate deployment of Eigen’s technology in other areas, including trade finance and small business banking.

Eigen leverages machine learning to extract data from a diverse range of documents, and then integrate that data into the workflows of its customers. The company’s algorithms use pattern recognition to examine words, phrases, and sections of text to help businesses review documents for compliance purposes, automatically extract granular information from asset portfolios, and has applications in fraud identification, contract negotiation, and other activities.

ING Chief Innovation Officer and CEO of ING Ventures Benoît Legrand praised Eigen’s ability to deploy its technology in multiple use cases such as retail and wholesale banking. “This partnership will allow both companies to work closer together when implementing use cases through data and process analysis,” Legrand said, “so as to accelerate Eigen’s advantage in NLP as well as ING’s digital transformation.”

Eigen Technologies demonstrated its technology at FinovateFall 2019. The company has teamed up with more than 25% of the G-SIBs (globally systematically important banks), as well as major asset managers, insurers, hedge funds, and law firms. Eigen was founded in 2014 and has offices in London, U.K. and New York City.

Airwallex Integrates with Xero to Help SMEs Reconcile Cross-Border Payments

Photo by Adrianna Calvo from Pexels

Small and medium-sized businesses working with Australian cross-border payments company Airwallex will be getting some help with their books. The company has announced a new partnership with New Zealand-based, cloud accounting company Xero.

Specifically, the newly-announced collaboration will enable Airwallex customers to reconcile their domestic and international payments by connecting their multi-currency financial transactions in Airwallex to Xero. Businesses will get daily updates of their transactions via their Xero bank feeds, accelerating and simplifying the reconciliation process, and saving companies both time and money.

“As more small businesses enter overseas markets, it’s important that their multi-currency payments flow seamlessly in Xero and are automatically reconciled,” Xero Financial Industry Director Ian Boyd said. “This integration with Airwallex will ensure our mutual customers spend less time on administrative tasks and more on what’s important to them – running their business.”

The integration is live in Australia and will be made available in both the U.K. and Hong Kong later in 2020.

Airwallex leverages its proprietary technology and infrastructure to facilitate low-cost, high-speed payments and collections around the world. The company allows SMEs to access interbank FX rates on international transactions, and enables them to open Airwallex accounts in the U.S., U.K., and European Union to conduct their international operations. Airwallex’s partnership with Xero comes on the heels of its teaming up with Visa for the launch of its Airwallex Borderless Card, which makes it easier for SMEs to do their banking business online.

Calling an integration with Xero, “one of the most requested integrations from our customers,” Airwallex Co-founder and CEO Jack Zhang said that the partnership was part of a “wider international rollout” the company will launch over the course of the year. “This is the start of a series of capabilities that we plan to introduce with Xero to improve the way small businesses manage their finances across platforms,” Zhang said.

With ten international offices, including locations in Hong Kong, London, Shanghai, San Francisco, and Bangalore, Airwallex has raised more than $200 million in funding from investors including DST Global, Sequoia Capital China, and Tencent. The company was founded in 2015.

Founded by former CEO Rod Drury and a Finovate alum since 2011, Xero has grown into one of the world’s major, cloud-based accounting software platforms. This year, the company announced a partnership with Square to power instant invoice payments in Australia, and collaborated with Macquarie Group on a new initiative to help support the financial advisory and planning industry in Australia.

Steve Vamos took the helm as Xero’s CEO in 2018. The following year, the company reached 1.8 million subscribers and positive free cash flow for the first time.

Breach Clarity’s New Offering Provides Consumers Personalized Protection

Fraud detection and prevention company Breach Clarity announced this week it has developed a new platform to help financial service providers offer personalized protection for their customers.

The machine learning-powered platform, dubbed Breach Clarity Premium for Financial Services, offers two sets of tools, one for the financial services company and one for the end consumer.

“Financial institutions are in a bad spot when it comes to data breach fallout,” said Breach Clarity founder Jim Van Dyke. “These breaches, most of which they have zero control over, are coming fast and furious, yet the actual damage can take years to occur. We first developed Breach Clarity to help the consumer fight back against the routine theft of their personal information. Now, we’re equipping their financial providers with much greater intelligence to help them strengthen everyone’s financial health.”

Founded in 2019, Breach Clarity analyzes data breaches, scores them in real-time based on 1,000 factors, and offers ideas for protective measures. The database behind the consumer-facing tool includes more than 4,000 data breach incidents, a number that grows by 50 each week.

Breach Clarity Premium for Financial Services has multiple benefits for financial services and their customers. The new tool details the most effective actions both parties can take, based on the information that was compromised, to mitigate loss in the event of a breach. The offering also enables consumers to search for data breaches that impact them without leaving their bank’s website or mobile app.

Breach Clarity is headquartered in Walnut Creek, California. Van Dyke recently demoed Breach Clarity at FinovateFall 2019 in New York.

Alumni News — Week of May 16, 2011


Practical Ecommerce listed Bill.com as 1 of 19 tools for online bookkeeping and invoicing Link

BrightScope announced the top 10 commodities funds held in America’s 401k plans Link
Frazier & Deeter, FD Alliance, BrightScope and SignatureFD conducted a national webinar on BrightScope’s tool that rates employee benefit plans. Link 


ClairMail reported record growth with a record number of customer acquisitions and a 300% increase in user growth Link  
eRollover announced its Facebook Early Retirement Vacation Sweepstakes Link
Wealth Management 360 highlighted Finantix’s Finovate Europe demo Link

Intuit reported an increase of internet banking users by 9% and bill pay users by 23% Link
iPay Technologies


iPay Technologies reached 1 Million users of its P2P electronic payment service, with almost 8 million payments processed to date Link
Kapitall implemented an alert system for current news on stocks and funds. These new alerts will keep users informed and will link directly to Kapitall’s analytical tools for a quick understanding of changes. Link


Practical Ecommerce listed Kashoo as 1 of 19 tools for online bookkeeping and invoicing  Link
Kashoo was selected by IDC as one of Canada’s Top 10 cloud companies to watch Link

On Deck Capital
Tech Crunch reported On Deck Capital’s announcement of the On Deck Score, a credit score for small businesses. This program seeks to fix the problem of businesses borrowing money as consumers http://tcrn.ch/kNjGX6 Link
Practical Ecommerce listed Outright.com as 1 of 19 tools for online bookkeeping and invoicing Link

SecondMarket experienced $115M in private stock sales during Q1 Link

TradeKing ranked number four in customer service for the second consecutive year in the Annual Broker Survey by Wall Street Journal’s magazine, SmartMoney Link 


Wired UK mag covered Wonga’s disruptive process of making borrowing money completely automatic. Are they transforming personal finance? Link
Wonga should have won of Startup 100 Awards, not Spotify Link

Alumni News — Week of April 25, 2011

On April 27, Prosper gave 200 new lenders $104 to get started. The company is celebrating the news that prosper lenders are averaging 10.4% returns. http://bit.ly/finovate426111

American Banker on Yodlee and Geezeo growth in the PFM market. Yodlee grows French market, and Geezeo signs more credit unions. http://bit.ly/finovate429111
Author Jean Chatzky opens her Debt Diet Challenge to 5 Credit.com readers who are in debt. http://bit.ly/lDmZ54
Bank Innovations highlights six companies as noteworthy to see at Finovate Spring on May 10th & 11th in San Francisco. http://bit.ly/kqBr39
Bill.com releases site upgrade. The upgrade, made over the Easter weekend, includes improved calendar, a revised mobile application, receivables managements and online payments and more. http://bit.ly/finovate427113
BrightScope featured on TechCrunch. The post highlights BrightScope’s launch of advisor pages. http://tcrn.ch/finovate426113
Capital Access Network awarded prestigious award. The company won the 2011 Monarch Innovation Award from Barlow Research Associates. http://bit.ly/finovate425113
CashEdge’s Small Business Survey finds that small businesses want electronic payment solutions. http://bit.ly/kmC1lM
Consumer Reports integrates BillShrink’s recommendations into reviews. BillShrink has similar affiliate relationships with Walmart.com and T-Mobile. http://tcrn.ch/finovate426112
Credit Karma releases Credit Score Climate Report stating credit scores fell two points in the Q1 2011. http://mwne.ws/lnXZn7
Currensee makes Lead411’s Hottest Boston Tech Companies list second year in a row. See them at Finovate Spring. http://bit.ly/lmrLNK
H&R Block names former eBay exec as new CEO. http://buswk.co/ipszZa
Mengia signs with Icelandic banks, Arion and Landsbanki. Mengia will provide PFM services to both banks, which will provide 90% of Icelandic banking customers with access to an integrated PFM platform. http://bit.ly/finovate427112
Monitise launches Hong Kong mobile service with JETCO, which will help it break into the Asia Pacific market. http://bit.ly/kEEcCP
Stock Twits names Francisc Costello chief operating officer.  http://bit.ly/finovate429114
Tile Financial releases the “Spend Grow Give” app. Now available free in the App Store. http://bit.ly/finovate425111
USA Today covers BrightScope’s new tool for choosing the right financial adviser & informs what attributes to look for. http://usat.ly/msrb7l
Wescom Resources Group offers Geezeo PFM to clients. Wescom will be rolling out Geezeo as a complement to the Credit Union’s existing online banking platform. http://bit.ly/finovate425112
Xero releases Xero Touch, its new app built on HTML5 that will run on iPhone, Android, Windows7 and Blackberry. http://bit.ly/eLPrdA
Yodlee holds a mobile banking webinar on May 3. Attendance is free. Details online at  http://bit.ly/finovate427111