BBVA Compass

Finovate Alumni News

By David Penn Posted on
Categories: BBVA Compass, Cloud Lending, Interactions, Lending Club, Lighter Capital, Moven, Oink, On Deck Capital, Vouch

On Finovate.com

  • “Oink Launches New App with Peer to Peer Functionality”

Around the web

  • Peter Day’s World of Business talks about machine learning technology with Jay Wilpon and Michael Johnston of Interactions.
  • Forbes.com column on innovations in lending features On Deck, Lending Club, Cloud Lending Solutions, and Vouch.
  • As Lighter Capital ramps up to closing six deals per month and nears its 100th investment, Jeff Seely is named chairman.
  • Lending Club leads investment in Propel(x), an online investment platform.
  • BBVA Compass launches online financial advice portals, MoneyFit and Great Ideas for Small Business.
  • As Lighter Capital ramps up to closing six deals per month and nears its 100th investment, it names Jeff Seely Chairman.
  • Lending Club leads investment in Propel(x), an online investment platform.
  • American Banker: “Temenos Is Ready to Make Waves in U.S. Core Processing”
  • CNBC discusses the future of fintech with Bill Harris, Personal Capital CEO.
  • Braintree partners with Pinterest to launch Buyable Pins.
  • Bluefin releases Version 2.0 of its proprietary P2PE manager.
  • Inc.: “Lending Club Jumps as Online Lending Continues to Grow”
  • Let’s Talk Payments names many alums in list of 50 fintech startups to watch out for.
  • British Bank Association undertakes a campaign to recommend that U.K. businesses deploy solutions such as TIS’ eFLOW INVOICE.

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.

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Finovate Alumni News

By David Penn Posted on
Categories: BBVA Compass, DoubleNet Pay, Fenergo, InComm, Insuritas, iQuantifi, LendingTree, Mitek, Prosper, Qapital, Realty Mogul, Toshl, Tradeshift, TransferWise, Tuition.io, Uncategorized, Xero

On Finovate.com

  • Xero & TransferWise Team Up to Save SMBs on Foreign Currency Exchange Fees

Around the Web

  • Bloomberg interviews LendingTree founder and CEO Doug Lebda.
  • Nashville Business Journal features iQuantifi and its recent study on millennials and their money.
  • Safeco grants Insuritas “Premier Partner” status.
  • Fenergo appoints former Adobe Systems executive Colm Heffernan to chief operating officer.
  • Mitek launches DoubleNet Pay financial app to help workers pay bills and fund savings. See the technology live at FinovateSpring in San Jose.
  • PYMNTS.com looks at the status of Prosper as tech’s latest “unicorn.”
  • Realty Mogul launches commercial offering.
  • BBVA acquires leading user experience firm Spring Studio.
  • Toshl Finance launches new features with WalletGear 2.0.
  • New York Tech Journal profiles Qapital.
  • InComm Partners with KUBRA to Simplify Cash Payments for Customers.
  • Tuition.io launches flex395.com, an employee-benefits product that enables employers to contribute directly to their employees’ student loans.
  • Air France-KLM to use Tradeshift for global e-invoicing.

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.

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BBVA Taps Dwolla for Real-time Money Transfers

BBVA Taps Dwolla for Real-time Money Transfers
By Julie Muhn (@julieschicktanz) Posted on
Categories: BBVA Compass, Dwolla

DwollaHomepage

BBVA Compass and Dwolla began their partnership in October 2014, when BBVA opened its network to the Iowa-based startup.

Today, the two disclosed the first stage of their plan. BBVA Compass is using the startup’s FiSync payments protocol for real-time money transfers. The Alabama-based bank is the largest FI customer to implement the technology.

Dwolla will implement FiSync’s authentication and tokenization processes developed jointly by the two parties. These security processes eliminate the need for customers to grant merchants direct access to their bank account, thereby disclosing account and routing numbers.

Starting today, BBVA Compass clients can send funds in real-time to other BBVA account holders or Dwolla users.

FiSyncSecureAuthThe partnership is also good news for developers. Those with a BBVA Compass account can use Dwolla’s APIs to create their own real-time payments apps. BBVA Compass Chairman and CEO Manolo Sánchez says the FiSync payments protocol will help the bank adapt to customers who are used to getting everything on-demand and instantly. Sanchez says that by working with Dwolla, “BBVA Compass is ensuring that money is able to keep up with the speed of the instant economy. This will have a real and lasting impact on businesses and consumers alike.”

BBVA is mimicking Dwolla’s pricing structure of $0.25 for transactions above $10, with everything under $10 free. The two companies plan to roll out additional updates in the coming months.

Dwolla demonstrated FiSync at FinovateSpring 2012. You can also catch them at the upcoming FinovateSpring show in San Jose next month.

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Finovate Alumni News

By David Penn Posted on
Categories: Authentify, BBVA Compass, BillGuard, Dealstruck, Dwolla, ETRONIKA, Insuritas, Jumio, PayNearMe, Taulia, TradeHero, Uncategorized, Vouch, Zooz

On Finovate.com

  • Dealstruck Raises $8 Million in Funding, $50 Million for New Credit Facility
  • BBVA Taps Dwolla for Real-time Money Transfers

Around the web

  • Vouch launches its social network for credit. See Vouch at FinovateSpring 2015 in San Jose.
  • Retail Week features Zooz as its Start-up of the Week.
  • Vermont Federal Credit Union partners with Insuritas to open and manage turnkey insurance agency.
  • Optimal Payments integrates Jumio’s Netverify into its NETELLER stored-value service.
  • BillGuard launches custom categories capability.
  • Taulia Launches Research Arm, Taulia Labs.
  • Norway Registers Development agrees to take 80% stake in Etronika.
  • PayNearMe partners with online rent payment network RentMoola to enable landlords to take rent in cash online.

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.

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Alumni News– October 30, 2014

By David Penn Posted on
Categories: BBVA Compass, Cardlytics, Dwolla, Fiserv, HedgeCoVest, Insuritas, Knox, Lendio, Mitek, Personal Capital, SimplyTapp, Temenos, Trustev
  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgTemenos announces availability of its new mobile banking app.
  • Mitek reports more than 3,000 FIs have signed up for its mobile deposit solution.
  • BBVA Compass partners with Dwolla to bring real-time payments to bank customers.
  • Personal Capital announces $50 million series D round.
  • xconomy profiles anti-fraud innovator, Trustev.
  • Fiserv launches Popmoney for Disbursements.
  • Insuritas to open and manage turnkey insurance agency for Heritage Community Credit Union.
  • Knox Payments recognized in emerging startup category at Venture Forum RVA event.
  • Cardnotpresent.com features how SimplyTapp uses host card emulation (HCE).
  • Lendio partners with The UPS store to help SMBs.
  • Cardlytics pulls in $70 million in Series F round, prepares for IPO.
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.

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Alumni News– August 5, 2014

By David Penn Posted on
Categories: BBVA Compass, Betterment, BillGuard, Blackhawk Network, FIS, FutureAdvisor, MasterCard, Oink, Wealthfront, Xero, Zenmonics
  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgMasterCard’s Ajay Banga sees MasterPass in 14 markets by year’s end.
  • Fox Business interviews BillGuard founder and CEO Yaron Samid live from Tel Aviv.
  • BBVA Compass and Zenmonics to design and test a tablet-based sales app. See Zenmonics at FinovateFall 2014 in New York.
  • Thailand’s Kasikornbank selects core banking technology from FIS.
  • Los Angeles Times Business section features Oink.
  • Financial Samurai reviews FutureAdvisor, comparing the company to Wealthfront and Betterment.
  • MarketInvoice partners with Xero to speed financing for small businesses.
  • Blackhawk Network to bring eGift options to Barclays’ Pingit mobile banking platform.
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.

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BBVA Compass Teams Up with OnDeck to Better Score Small Biz Borrowers

By David Penn Posted on
Categories: BBVA Compass, Kabbage, Lending Club, On Deck Capital, Prosper

ondeck_logo_new.jpg

The only thing keeping pace with the investment interest in alternative lenders from Prosper to Kabbage may be the growing partnership interest from banks.

Earlier this week we reported on the deal between Lending Club and Union Bank. Today we learn that BBVA Compass will be working with OnDeck to develop better ways to provide loans to its small business clients.

Specifically, BBVA Compass will be relying on OnDeck’s OnDeck Score. This technology allows banks and financial institutions to review thousands of relevant data points, including social data points, to help determine a would-be borrower’s suitability for a given loan.
This new initiative is a big deal for OnDeck, and represents the first such collaboration with a bank the size of BBVA Compass. Founded in 2007 and led by CEO Noah Breslow, OnDeck made headlines a month ago when it announced a $77 million funding round led by Tiger Capital. The company specializes in combining loan underwriting analysis with the merchant’s own business data to determine a potential borrower’s creditworthiness faster than traditional lenders.
The average loan from OnDeck is $40,000, and loans can run as high as $250,000. Terms range from as little as three months to two years. The company demoed its technology at FinovateSpring 2012.

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Finovate Alumni News– May 7, 2014

By Julie Muhn (@julieschicktanz) Posted on
Categories: Actiance, App Annie, BancBox, BBVA Compass, Credit Sesame, Dashlane, Jack Henry, Kabbage, On Deck Capital, Personal Capital, Prosper, Striata, TradeHero
  • Finovate-F-Logo.jpgiFactor and Striata partner to offer robust push ebill solution to utilities.
  • Kingdom Trust and Bancbox partner to streamline the crowdfunding and P2P lending platform experience for the IRA investor.
  • Alternative lending pays up: Kabbage raises $50 million, Prosper pulls in $70 million.
  • Actiance extends Socialite to include Google+ & YouTube.
  • VentureBeat looks at the rise of P2P lending of many Finovate alums and predicts $1 trillion in loans by 2025.
  • App Annie now lets app developers track ads, app store optimization.
  • TradeHero launches a Chinese version, bringing the stock market game to traders in China.
  • Lend Academy speculates Prosper now valued $600 million, up from a $100 million valuation around eight months ago.
  • Personal Capital reaches 500,000+ registered users. Now is tracking over $70+ billion in & is managing $500 million in assets for clients.
  • Credit Sesame offers Target customers free ID protection, credit monitoring and credit scores without deadlines.
  • Jack Henry Banking’s Core Director processing platform deployed by Oklahoma State Bank and The Bank of Clovis in New Mexico.
  • BBVA Compass teams up with On Deck Capital to better score small business borrowers.
  • WSJ Personal Technology column recommends Dashlane as the “best way to manage online passwords.
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.

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Finovate Alumni News– March 13, 2014

By Julie Muhn (@julieschicktanz) Posted on
Categories: Azimo, BBVA, BBVA Compass, Cardlytics, Kashoo, mBank, Narrative Science, PayPal, Tink
  • Finovate-F-Logo.jpgPayments News: MasterCard, Fiserv partner on Debit EMV for Accel Network.
  • Xero named top choice in the list of “favorite online-based business accounting apps” by both PCWorld and Macworld.
  • Credit Karma brings in $85 million in financing led by Google Capital.
  • Compliance Week reports: Actiance’s partnership with Shoutlet provides companies with compliant social marketing.
  • Expensify integrates with NetSuite and Stripe, raises maximum expense report amount, and more.
  • Cardtronics announces agreement with BBVA Compass for branded ATMs in Texas H-E-B stores.
  • PayPal’s Pamela Rice joins OnDeck as SVP of Technology.
  • Azimo raises $10 million in round led by Greycroft Partners.
  • Freshminds explains how Tink, mBank and BBVA are “redefining customer centricity.”
  • Kashoo earns spot on ICT 2014 Ready to Rocket list.
  • Smart Data Collective highlights Quill from Narrative Science in a column on the business applications of artificial intelligence.
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.

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