Betterment

Finovate Alumni News

By David Penn Posted on
Categories: Betterment, CustomerXPs, FinanceIt, Nopsec, Nous.net, The ID Co., True Potential

On Finovate.com

  • Financeit Launches Direct-to-Consumer Financing Platform, Financeit Direct
  • Meet The ID Co.: miiCard Rebrands as DirectID Spurs Growth
  • Nous Launches New Trading App TIQL for a Safer Way to Trade
  • Check out this week’s FinDEVr APIntelligence

Around the web

  • Uber partners with Betterment to offer drivers flexible retirement accounts that will be fee-free for a year.
  • CU Broadcast features NopSec CTO Michelangelo Sidagni.
  • True Potential teams up with UBS Asset Management to launch five, new multi-asset funds.

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: ACI Worldwide, Betterment, BondIT, Ethoca, Featurespace, Fiserv, iBank Marketing, Jumio, Mortgagebot, Payoneer, Quantopian, Realty Mogul, RightCapital, TransferWise, Trulioo, Uniken

On Finovate.com

  • TransferWise Launches TransferWise for Business to the Public
  • RealtyMogul to Raise $50 Million with New REIT, MogulREIT I

Around the web

  • ACI Worldwide integrates Ethoca Alerts into its UP eCommerce Payments solution.
  • Trulioo announces enhancements to the global AML watchlist capabilities of its GlobalGateway platform.
  • Realty Mogul launches REIT investments.
  • Two credit unions select Fiserv’s OnCU for core account processing.
  • Payoneer releases automated tax-form service to its mass payout offering.
  • D+H brings on 100+ new lenders to its MortgagebotLOS solution after signing reseller agreement with DocMagic in October of 2015.
  • FT.com looks at Quantopian in a feature on DIY algorithmic trading.
  • Jumio VP of Product Philipp Pointner writes about digital ID verification in AltFi News.

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: Betterment, eMoney Advisor, Envestnet, EquityZen, Finova Financial, Interactions, Kontomatik, Simple, TradeRiver Finance

On Finovate.com

  • Interactions Garners $56 Million in its Largest Funding Round Yet
  • Automobile Title Lending Platform Finova Financial Raises $52.5 Million
  • Check out this week’s FinDEVr APIntelligence.

Around the web

  • Kontomatik’s Konstantin Rabin shares his thoughts on successful lending in The Paypers.
  • Forbes features Jon Stein, Betterment CEO and cofounder.
  • San Diego Business Journal names eMoney Advisor one of the “Best Places to Work in San Diego.”
  • Envestnet | Yodlee launches Transaction Data Enrichment to offer transparency into transactions.
  • TradeRiver Finance reaches milestone of lending GBP100 million to U.K. businesses.
  • Portland Business Journal takes a look inside Simple’s new office.

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 Julie Muhn (@julieschicktanz) Posted on
Categories: Backbase, Betterment, Blackhawk Network, Check Point, Featurespace, Fidor Bank, Green Address IT, Hedgeable, Kantox, Kasasa, Payment Data Systems, Personetics, SpeechPro, Tango Card, Venmo

On Finovate.com

  • Kantox Marks $100 Million Processed Since Launching API in Beta
  • France’s Groupe BPCE Acquires Munich-based Fidor Bank

On FinDEVr.com

Around the web

  • Check Point Launches Australia and New Zealand Technical Assistance Centre and Incident Response Services.
  • Kyte Consultants partners with Featurespace.
  • USE Federal Credit Union selects Kasasa.
  • Blackhawk Network Launches eCommerce Website for Gift Cards in Canada.
  • Venmo named a Breakthrough Brand on Interbrand’s 2016 report.
  • Betterment for Business Surpasses 200 Plan Sponsors.
  • Payment Data Systems launches iOS payment processing SDK.

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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Betterment Surpasses $5 Billion AUM, Hires Amy Shapero as CFO

Betterment Surpasses $5 Billion AUM, Hires Amy Shapero as CFO
By Julie Muhn (@julieschicktanz) Posted on
Categories: Betterment

Screen Shot 2016-07-14 at 9.26.41 AM

Founded in 2008, Betterment was one of the first online wealth-management services to launch, entering into the industry well before the first fintech nerd uttered the word robo-adviser. In January of 2015, the New York-based company’s assets under management (AUM) totaled $1 billion. Today, a year-and-a-half later, it has burgeoned to more than $5 billion. As Fast Company reported, “That milestone is modest by the standards of wealth-management giants like Fidelity, but a first for an independent robo-adviser like Betterment.” By comparison, Fidelity claimed $2,036 billion AUM at the end of 2015.Shapero

To help manage the new growth, the company has brought on Amy Shapero (pictured) as CFO. Shapero brings experience as CFO for CRM company Sailthru and also worked at information-services company Digital Globe and fintech company Spot Trading.

Even though Betterment has no minimum balance requirements, the average account tops $29,000, and the largest amount invested by a single individual is $10 million. According to an article on WealthManagement.com, Betterment CEO Jon Stein anticipates the company will eventually go public but first wants to add new revenue streams by launching more products, such as the turnkey 401(k) service, Betterment for Business, it launched in January.

At FinovateFall 2011, Betterment CEO Jon Stein launched the company’s Multiple Goals feature. Betterment has raised $205 million from 14 investors. After the company’s $100 million Series E round earlier this year, its valuation rose to $700 million.

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Finovate Alumni News

By David Penn Posted on
Categories: ACI Worldwide, Betterment, FICO, Fiserv, GMC Software Technology, Pendo Systems, Radius, Roostify, Thomson Reuters, Tuition.io, Vantiv

On Finovate.com

  • Roostify Announces Integration with PCLender to Streamline Loan Origination Process.
  • New Version of the Pendo Data Platform from Pendo Systems Brings Machine Learning, AI to Spreadsheet Data.
  • Fiserv Makes In-Branch Customer Identification as Easy as a High Five.
  • Radius Selects Chief Product Officer.
  • Tuition.io Has Saved Users More Than 5,000 Years of Student Loan Payments.

On FinDEVr.com

  • Mambu Unveils FinTech Startup Program.

Around the web

  • Indopay to leverage Up eCommerce Payments platform from ACI Worldwide.
  • Thomson Reuters named 2016 European Tax Technology Firm of the Year by International Tax Review.
  • Revel Systems partners with Vantiv Integrated Payments to launch the “Rev Up Your Dream” social media contest.
  • FICO acquires cybersecurity firm QuadMetrics, announces plans for “enterprise security scores.”
  • Betterment named Fastest-Growing Firm in the 2016 Financial Times List of 300 Top Registered Investment Advisers.
  • Independent Research Firm Designates GMC Software a Leader in Customer Communications Management.

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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FT Partners New Research Report on Digital Wealth Management Features a Dozen Finovate Alums

FT Partners New Research Report on Digital Wealth Management Features a Dozen Finovate Alums
By David Penn Posted on
Categories: Betterment, Dyme, FutureAdvisor, Hedgeable, iQuantifi, Jemstep, LearnVest, Motif Investing, Nutmeg, Personal Capital, SigFig, TradeKing

FTPartners_logo_2The new research report on digital wealth management from Financial Technology Partners is a timely reminder of just how deep the firm’s dedication to, and insight into, the fintech world goes (that the report features a dozen Finovate and FinDEVr alums is pretty neat, too).

FT Partners’ report “Are the Robots Taking Over? The Emergence of Automated Digital Wealth Management Solutions” looks at the different platforms and business models used by digital wealth management companies, as well as the response by industry incumbents. The 140+ page report also features interviews with CEOs from leading major digital wealth-management companies such as Betterment, Nutmeg, and SigFig.

Writing about this FT Partners’ report on digital wealth management for Bloomberg View, columnist and money manager Barry Ritholtz noted:

“For those of you who may not have thought much about how technology might affect Wall Street, the work you do each day, and how you do it—not to mention what it means for your careers—this report is invaluable.”

Ritholtz outlined how his own experience as a money manager had been shaped by the rapidly changing technology landscape (“My office is small, but thanks to technology, and fintech in particular, we are able to be very productive with just 14 people,” he wrote). He also admits this productivity comes at a cost for some. “Those people who don’t adapt will find themselves with limited career options,” Ritholtz writes.

So who are the disruptors in the digital wealth management space of whom both FT Partners and Ritholtz speak?

Betterment_logo

 

dyme

 

 

 

futureadvisorlogo

 

 

HedgeableLogo

 

 

iQuantifiLogo_FF2014

 

 

Jemstep_Logo

 

 

  • Founded in 2008
  • Headquartered in Los Altos, California
  • Kevin Cimring and Michael Blumenthal are joint CEOs
  • Acquired by Invesco, January 2016
  • FinovateSpring 2013

LearnVest_logo

 

 

  • Founded in 2009
  • Headquartered in New York, New York
  • Alexa von Tobel is CEO and founder
  • Acquired by Northwestern Mutual, March 2015
  • FinovateFall 2013

MotifInvesting_logo_150x

 

 

NutmegLogo-thumb-200x56-5002-thumb-150x42-5003

 

 

Personal-Capital-Logo

 

SigFig_logo

 

 

tradeking_logo

 

 

 

  • Founded in 2005
  • Headquartered in Boca Raton, Florida
  • Donato Montanaro is CEO
  • Acquired by Ally Financial, April 2016
  • FinovateSpring 2008

 

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Finovate Alumni News

By David Penn Posted on
Categories: BaseVenture, Bento for Business, Betterment, Kreditech, Stocktwits, Tradeshift, Wealthfront, Zooz

On Finovate.com

  • “Bento for Business Banks $7 Million in New Investment”
  • “FT Partners New Research Report on Digital Wealth Management Features a Dozen Finovate Alums”

Around the web

  • Daily Fintech profiles Kreditech in a feature on the future of consumer banking.
  • CNN features Betterment, Wealthfront, and StockTwits in a list of the 10 best investing apps.
  • Spend Matters takes a look at the latest investment in Tradeshift and what it means for innovation in the procurement industry.
  • Oren Levy, Zooz CEO, writes in mobile payments today about the rising deployment of mobile wallets in developing markets.
  • Baseventure wins Red Herring Top 100 North America award.

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 Julie Muhn (@julieschicktanz) Posted on
Categories: ACI Worldwide, Betterment, CrowdFlower, Dashlane, Fiserv, Flybits, IBM, Insuritas, Kabbage, Kony, Malauzai, Malauzai Software, NICE Systems, Ripple, SplitIt, Token, Xero

On Finovate.com

  • “Token Facilitates PSD2 Compliance with New Payment Network”
  • “CrowdFlower Closes on a $10 Million Round Led by Microsoft”
  • “Finovate Debuts: IBM’s Wealth Management Solution Gives Advisers an Edge”
  • “MOX Pay from Malauzai is First to Unveil RDC as Payment Option”

On FinDEVr

  • “Flybits Earns Gartner Cool Vendor Recognition in its Platform-as-a-Service 2016 Report”

Around the web

  • TechCrunch: Dashlane launches a password-management tool for the enterprise.
  • AppsTechNews chats with Kony CTO Bill Bodin on the pace of enterprise app change.
  • “Kabbage Named a CNBC Top Disruptor”
  • Benzinga profiles Betterment CEO Jon Stein.
  • Me/CU to deploy account-processing platform and digital banking suite from Fiserv.
  • Insuritas to power insurance solution for Patelco CU.
  • NICE Actimize teams up with Mphasis to provide anti-fraud, enterprise risk, and compliance solutions.
  • Volate Technologies launches solution for “plug and play” integration with Ripple.
  • ACI Worldwide partners with U.K.-based Raphaels Bank to provide access to the Faster Payments Scheme.

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: Betterment, Dwolla, Venmo

On Finovate.com

Around the web

  • Business Insider profiles the all-female management team of Betterment for Business.
  • The Des Moines Register reports on Dwolla and how its FiSync payments network could serve as a model for a nationwide effort.

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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FinDEVr APIntelligence

By Julie Muhn (@julieschicktanz) Posted on
Categories: Aerospike, Betterment, Coinalytics, Entersekt, FICO, Gem, Skry

FinDEVrSV16-LogoV2(wdate)Our FinDEVr New York developer showcase last week was a success! FinDEVr Silicon Valley will be held October 18 & 19 in Santa Clara. Register today and save.

On FinDEVr.com

  • “Beyond the Bitcoin BlockChain: Coinalytics is Now Skry”

The latest from FinDEVr New York 2016 presenters

  • Capgemini consulting services adds risk and fraud management technology from FICO.
  • Aerospike releases version 3.8 of its database server.
  • Wealth Professional features Betterment in a column on roboadvisors.

Alumni updates

  • Blockchain solution provider Gem launches Gem Health.
  • CNBC Africa interviews Entersekt CEO Schalk Nolte.

Stay current on daily news from the fintech developer community! Follow FinDEVr on Twitter.

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Finovate Alumni News

By David Penn Posted on
Categories: Aerospike, Betterment, Bitbond, CardLinX, Cardlytics, Coinalytics, Holvi, Insuritas, Interactions, NCR Corporation, Obloco, Polly Portfolio, Quid, RaceData, Skry, ThreatMetrix, TransferWise, VIX Verify, Wealthfront, Zooz

On Finovate.com

  • “Cachet Financial Solutions to Power Mobile Account Opening for PAYTOO”
  • “First Data’s Clover Launches Ecommerce Solution”

On FinDEVr.com

  • “Beyond the Bitcoin BlockChain: Coinalytics is Now Skry”

Around the web

  • Interactions partners with Arise Virtual Solutions to bring virtual assistant technology to customer care.
  • Aerospike releases version 3.8 of its database server.
  • TransferWise opens its remittance service to the U.S./Mexico regions.
  • Wealth Professional features Betterment and Wealthfront in a column on roboadvisers.
  • ThreatMetrix Updates Smart Analytics Platform.
  • “SITO Mobile Partners with Cardlytics to Power Mobile Ad Campaigns with Purchase Intelligence”
  • Bitbond joins SME Finance Forum.
  • Insuritas to power insurance agency solution for Inspire Federal Credit Union.

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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