Finagraph Picks Up Investment from Moody’s

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The small business intelligence and analytics platform Finagraph has earned an investment from Moody’s, giving the rating service and research firm a minority stake in the Seattle-area company.

According to Mark Almeida, President of Moody’s Analytics, the investment is based on the company’s desire to help FIs that lend to SMEs. Almeida explained:

“Finagraph’s technology and insight into small business financials enable us to accelerate our efforts to transform the way lenders interact with small businesses, helping bankers make better, faster lending decisions for the growing SME market.”

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CEO James Walter (left) and VP of Sales Corey Ross demonstrated their platform at FinovateSpring 2013 in San Francisco (a.k.a. BBC Easy).

Known as BBC Easy when it demonstrated its technology at FinovateSpring 2013, Finagraph provides business owners with tools that help them see trends in working capital, find hidden cash, and monitor risk indicators such as declining cash or a rising expenses vs revenues ratio.

Finagraph’s Financial Dashboard plays well with accounting systems such as Xero and QuickBooks and, as of mid-February, is now available for free. Finagraph also offers financial skills training through its Finagraph Academy, and courtesy of its new relationship with Moody’s, Finagraph will provide business credit scores based on Moody’s Analytics Risk Quality or MARQ.

Finagraph was founded in 2010 and is headquartered in Seattle, Washington. The amount of Moody’s investment was not disclosed. The company will gain a seat on Finagraph’s board of directors are part of the deal.

Finovate Alumni News– October 10, 2013

  • Finovate-F-Logo.jpgBackbase on Track to Expand into UK Market. 
  • Arroweye Solutions launches EMV On-Demand.
  • ICBA Mortgage extends its agreement with D+H Mortgagebot.
  • InComm partners with Jackson Hewitt Tax Service to unveil new GPR card.
  • 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.
  • 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 Bitcoin move.
  • Tyfone powers P2P m-payments in BVCU m-banking platform.
  • MasterCard joins Fast IDentity Online (FIDO) Alliance in support of innovation in online authentication.
  • Inaugural issue of FIS’s digital magazine FIS InMotion now available.
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– May 20, 2013

  • FinovateLOGO.jpgQuantopian featured in the print edition of Barron’s Electronic Investor column.
  • Software company Malauzai, technology partner with Allied Payment Networks, talks mobile photo bill pay adoption rates.
  • CardNotPresent takes a look at OneID’s two-factor authentication technology.
  • Palo Alto Software collaborates with MasterCard to provide lean planning and management software solutions to small businesses.
  • Lendio interviews BBC Easy founders in a podcast on its blog.
  • CommunityLend’s FinanceIt launches paperless document function.
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.

BBC Easy Saves Borrowers and Lenders Time by Automating the Verification Process

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This is a part of our live coverage of FinovateSpring 2013.
Last up in the first morning session, BBC Easy showed how it can help make the borrowing process fast and simple:

“BBC Easy reads lender-specified data directly from the borrower’s accounting systems for verifying loan compliance and financial viability. BBC Easy also fully calculates the borrowing base certificate for borrowers saving massive time for lenders and borrowers. It is mind-bogglingly simple to use for lenders and borrowers and provides brilliant growth potential for commercial lenders.”

Product Launch: November 2012
HQ: Seattle, WA
Founded: August 2010
Metrics: 6 employees
Website: bbceasy.com  
Twitter: @BBC_Easy
Presenting James Walter (CEO) and Corey Ross (VP Sales)

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FinovateSpring 2013 Sneak Peek: Part 4

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Our FinovateSpring 2013 Sneak Peek preview continues with another 12 companies that will be demoing their innovative technologies at our San Francisco event on May 14 and 15.

If you missed the previous installments of our Sneak Peek preview, here are links to parts 1-3:

Everything you need to know about FinovateSpring, from a full list of presenters to instructions on how to buy tickets, is available at our FinovateSpring 2013 information page here.  

For now, here’s a look at a dozen more fintech companies who will be presenting their innovations on stage in May.

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Arxan Technologies protects the App Economy from emerging hacker attacks with award-winning application integrity protection products that provide best-of-breed mobile app shielding.
Features: 
  • Strengthens financial apps with self-defense and tamper-resistance
  • Delivers multi-layered application security, broadest platform
Why it’s great: Arxan provides global Forbes 500 companies with the world’s strongest and most deployed application integrity protection to launch multi-OS mobile services.

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BBC Easy is a web service that increases lending efficiency and reduces risk by automating the collection of borrower’s financial data.
Features:
  • Pulls financial data directly from the top 10 accounting systems
  • Loans are monitored with automated Borrowing Base Certificates
Why it’s great: Direct access to financial data lowers risk and increases loan efficiency.

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CardFlight is the easiest way to integrate card-present payments into your own mobile apps.
Features:
  • Encrypted reader that works with virtually any iOS or Android device
  • Easy, flexible SDK
  • Support for most payment processors
Why it’s great: Easily accept card-present payments in your apps while keeping full control of your user experience.

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Corduro Register helps enable Payments as a Service for the enterprise.
Feature:
  • No Credit Card, No Phone, No Hassle 
Why it’s great: Corduro focuses on enterprise clients, providing them with a unique way to pay.

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Credit Sesame is the consumer’s credit and lending expert, providing smart financing for your life.
Features: 
  • Buying a house? See what you can afford
  • Compare multiple loans and find the best one
  • Monitor your credit for free on the go
Why it’s great: It’s the one mobile app that provides the information, analysis, advice, and offers you need for every important financing decision.

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Escardgot introduces the Helix SCard. Evolved spending. Simple. Store your cards, select, and swipe.
Features:
  • Merchants can send cards and offers directly to a consumer’s phone
  • A consumer can decide which ones to use when ready to swipe
Why it’s great: The Helix SCard is the perfect transitional technology to usher in the wireless payment industry. No POAS hardware changes like NFC.

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Finect is the only online network for the financial industry.
Features:
  • Online profiles and groups with seamless LinkedIn integration and professional verification
  • One-stop compliant social media
  • First-ever investment profiles for real-time peer discussions
Why it’s great: We’re a one-stop shop network allowing you to build your brand and community in a compliant manner.

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GoNow‘s eWallet Platform will ignite mass market eWallet adoption and includes a “Super Smartcard” programmed by the eWallet which enables payments at any POS terminal.
Features:
  • Full compatible with existing POS infrastructure
  • Generates new revenue, extends brand
  • GoNow has independent secure element
Why it’s great: Available as white label, GoNow’s eWallet Platform makes it easy to launch an eWallet that works everywhere and offers new revenue opportunities.

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Narrative Science enables companies to automatically uncover insights hidden in data and create new content and communication at a scale and frequency never before possible.
Features: 
  • Provides powerful insight across a variety of industries
  • Business intelligence solutions that deliver actionable insight
Why it’s great: Narrative Science’s Quill solution addresses today’s challenges with Investment Research and Portfolio Reporting for both individual and institutional investors.

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Plastyc Inc. enables better banking services to be delivered to all via web and mobile, regardless of income, age, and bankability.
Features: 
  • Turns prepaid cards into DDA alternative
  • Web/mobile consumer interfaces with push messaging
  • 24×7 monitoring and analytics
Why it’s great: Brings life-time-value of prepaid accounts to unprecedented levels.

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P2BInvestor introduces crowdfunding receivables.
Features:
  • Investor dashboard for crowdfunding platform
  • Explore receivables loans to invest in
  • Interactive returns calculator
Why it’s great: First platform for crowdfunding receivable loans

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Wallaby Financial is the first service to combine a cloud-based wallet with an intelligent credit card to help consumers maximize rewards and cash back.
Features:
  • Build the perfect wallet and credit card mix
  • Get more rewards and cash back
  • Swipe smart every time you shop
Why it’s great: Consumers that want to maximize their credit card rewards and cash back can build their ideal wallet with Wallaby.
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For more information on being a part of FinovateSpring 2013, see our FAQ. To register, visit our FinovateSpring page here.

Finovate Alumni News– April 3, 2013

  • Finovate-F-Logo.jpgTech Dirt looks at Narrative Science’s role in algorithmically-generated journalism. Come See Narrative Science at FinovateSpring.
  • Bdaily talks with Monitise EVP, Lisa Stanton, about mobile banking.
  • Numerica Credit Union adopts BBC Easy’s C&I Lending program.
  • CU Times reports Fiserv’s Spot Pay offers CUs a co-branded mobile payment platform and dongle.
  • Forbes looks at the growth of edo, Cardlytics, and Cartera Commerce and how card-linked offers are better than daily deals.
  • TechCruch reports OpenCoin has acquired SimpleHoney. See OpenCoin demo at FinovateSpring in May.
  • ProfitStars launches BillSimple from iPaySolutions.
  • TSYS to present at annual card forum and expo in April.
  • IntelliResponse adds 155th customer, the company’s first credit union.
  • Convenience Store Decisions notes the growing role of mobile payment options such as PayPal and Flint Mobile.
  • FIS, Open Solutions veteran Gary Daniel to join Allied Payment Network. Join them in San Francisco for FinovateSpring.
  • Banking Technology looks at eWise, Pageonce, Mint.com, Kiboo, Holvi, & Moven as PFM resurgence examples.
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– March 29, 2013

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  • Atlanta Business Chronicle takes a look inside the TSYS/NetSpend merger.
  • TradeHero reaches $5 billion in virtual currency traded over 350,000 trades in the first three months.
  • Washington Trust Bank to deploy Jack Henry & Associates‘ SilverLake System core processing platform.
  • The Options Insider interviews TradeKing CEO Don Montanaro.
  • Leading U.S. healthcare insurer invested more than $250k to implement a Kofax-based solution. See Kofax demo at FinovateSpring.
  • Bill.com announces it enables more than 175k businesses to pay and get paid.
  • Fargo bank adds Fiserv mobile banking, payment tools.
  • Dwolla site back up after DDoS attack.
  • BBC Easy launches C & I Loan Management Software for businesses looking to save time on cumbersome BBCs. Check out BBC’s demo at FinovateSpring.
  • Keynote DeviceAnywhere platform now integrated with Worksoft Certif.
  • AH Capital raises more than $100,000 using Realty Mogul’s real estate crowd funding platform. Join Realty Mogul in San Francisco this May at FinovateSpring.
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.