Finovate Alumni News

On Finovate.com

  • “12 New FinDEVr 2015 Presenters Announced
  • “A Dash of Good Karma: Karmic Labs Raises $5 Million”

Around the web

  • Cardlytics wins 2 Silver Stevies at 2015 American Business Awards.
  • Xero adds payroll availability in Nevada and Illinois.
  • ThreatMetrix wins Gold, Silver and Bronze awards in three categories at Network Products Guide 2015 Hot Companies and Best Products Awards.

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

On Finovate.com

  • “PayPal’s Early Valuation Tops $44 Billion”
  • “Monitise to Emphasize API, On-Site Solutions in Strategy Shift”

Around the web

  • Xero to offer foreign invoice payments via new partnership with Midpoint Holdings.
  • Loop featured in profile of Samsung Pay.
  • PYMNTS.com takes a look at PayPal CEO Dan Schulman’s conversation with the Financial Times.
  • Gulf News Banking highlights Zopa in its review of the rise of P2P business lending.
  • Ferratum Group selects Mambu to Power SME Lending.
  • Top Image Systems to deploy an automated multichannel and mobile data-capture project for online financing company that provides funds to India-based SMBs.
  • Lighter Capital closes 100 deals.
  • CDApress recommends FamZoo to help kids understand personal finance skills.
  • Credit.com blog lists Global Debt Registry as a tool to help get rid of an old debt.
  • Better ATM Services CEO Todd Nuttall quoted in Australian Times column on how technology delivers a growing share of bank services.
  • The Bitcoin News interviews the new online marketing manager for Bitbond, Chris Grundy.
  • Wall Street Journal features PsychSignal in a review of stock market sentiment and social media.
  • Inc. feature on Silicon Prairie highlights Blooom, Hip Pocket, and Dwolla.
  • Rise in tech investment in the United Kingdom credited to companies like Azimo and Currency Cloud in London’s fintech sector.
  • Forbes column on investing for millennials features Hedgeable.
  • Realty Mogul adds two new vice presidents of commercial real estate.

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

Around the web

  • Let’s Talk Payments features Feedzai, Swipely, BillGuard, Wealthfront, Jemstep, SigFig, and Vouch in its review of companies “pushing the envelope” in payment analytics.
  • Zooz partners with Avalara to bring tax-compliance tools to its payment platform.
  • Daily Fintech profiles DarcMatter and its plan to bring access to alternative investments to the accredited masses.
  • TransferWise sets world record for largest human currency symbol.
  • Bank Investment Consultant takes a look at Betterment, Personal Capital, Motif Investing, FutureAdvisor, Blooom, Wealthfront, and Vanguard in its look at how traditional advisers can compete against robo-advisers.
  • BlinkMobile Interactive wins best enterprise mobility solution at Cloud World Series Awards in London.

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

On Finovate.com

  • Mobile Fees: BillGuard Goes Freemium with Integrated Credit Monitoring
  • New $175 Million Investment Earns Credit Karma a $3.5 Billion Valuation
  • Lake Trust Credit Union Launches Larky-powered Mobile Rewards App

Around the web

  • The Financial Times looks at progress from robo-advisor services Nutmeg and Money on Toast.
  • FCI Federal Credit Union deploys CruiseNet core processing system from Jack Henry’s Symitar division.
  • UPS Capital, the financial services business division for United Parcel Service, to offer loans to its small business customers via Kabbage.
  • Motif launches new website for improved user experience.
  • Fortune Magazine and Great Place to Work name On Deck Capital 1 of 100 best places to work for millennials.
  • CU Management features Onovative in a discussion on innovations in new member onboarding.

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.

Mobile Fees: BillGuard Goes Freemium with Integrated Credit Monitoring

 

billguard choices

We are always on the lookout for digital fee-income opportunities. And if I got a nickel for every one of them I’ve ever found … I’d have about a buck at this point. Fees in U.S. online banking are rarer than the (not-so) mythical fintech unicorn. And mobile banking fees are pretty much non-existent outside a few remote deposit fees (see previous post).

billguard_main_newBut last week BillGuard demonstrated a promising new avenue for incremental fee income: Integrated mobile identity-theft alerts, resolution and insurance (see inset). Actual credit report access is not included, but BillGuard says that it is coming soon. The service is mobile only, and the company currently has no plans to add it to the desktop version.

The credit and fraud monitoring is powered by CSIdentity (CSID), an Austin-based firm that says it powers 80% of the retail identity-theft-protection industry. The company, founded in 2006, has raised $36 million in equity (mostly in 2010) and $6 million in debt.

What it costs
The service is value-priced, at $2.99/mo for the single bureau Pro version or $6.99/mo for the 3-bureau Ultimate. In comparison, most ID-protection services are in the $15 to $20/mo range (Experian charges $15.95/mo for a private-labeled version called ProtectMyID with BillGuard). Founder Yaron Samid says BillGuard provides essentially the same third-party monitoring as the $30/mo offering from Lifelock for one-fourth the cost. And with BillGuard, users get credit/debit card transaction monitoring (powered by Yodlee) for free.

BillGuard premium benefits:

  • Credit bureau monitoring (3 bureaus in Ultimate service, 1 in Pro service)
  • Identity restoration services (via call center help)
  • 24/7 call center support
  • Lost wallet recovery
  • Social Security Number fraud alerts (Ultimate service only)
  • Black market alerts (Ultimate only)
  • $1 million insurance (Ultimate only)

Cardholders are already looking to their smartphones to stay informed of problems in real-time (case in point, BofA just integrated fraud alerts into its mobile app). So it makes sense to deliver extra protections services in-app. Although there is stiff competition from free ad-supported versions such as Credit Karma, we believe integrated protection services are a logical fee-based upgrade for mobile banking customers.

——–

Screenshots

BillGuard iOS app homescreen includes a pitch for its premium ID protection (17 June 2015)

billguard_home

An actual fraud alert I received after signup for BillGuard Ultimate (19 June 2015)
Note: It was from a breach in November 2013. I assume I received the alert this week since I was a new customer.

billguard_fraudalert_adobe

Finovate Alumni News

On Finovate.com

  • PayItSimple Pulls in $10 Million Line of Credit
  • Ripple Labs Reels in $28 Million, Eyes Asia Expansion
  • P2P Lending Meets High Street Banking as Metro Bank Partners to Lend via Zopa
  • Credit Sesame Raises $16 Million in New Funding
  • Planwise Raises $750,000, Nearly Doubling Total Capital

Around the web

  • Fox Small Business News names 11 Finovate alums in list of Hot Fintech Startups to watch.
  • Edenred México S.A. incorporates INETCO’s Insight software platform.
  • D3 Banking taps Jeffrey Walker as chief information security officer.
  • MasterCard launches P2P payments service, MasterCard Send, to help businesses reimburse rebate consumers without checks.
  • nTrust to deploy ID verification technology from Trulioo.
  • North American Savings Bank (NASB) partners with ACI Worldwide for online, mobile banking and billpay.
  • Avoka, Bill.com, BillGuard, CoinBase, Credit Karma, Jumio, Kabbage, Kreditech, OnDeck, Prosper, TransferWise, Trulioo, Venmo and WePay earn spots on Inc.com’s “20 Financial Technology Startups You Need to Know.”
  • ImageWare selects ValidSoft’s voice biometrics solution.
  • Kony teams with Citrix, to offer customers a mobile app solution from mobile design and development to enterprise mobility operations.
  • Altifi.com features Cloud Lending Solutions’ Cloud Lending Exchange.
  • ZD net: Intuit tightens PayPal integration with data synchronization app.

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

On Finovate.com

  • Meet the Presenters: Check out FinovateSpring 2015 Sneak Peek: Part 4
  • MoneyStream Launches to Public, Receives $3.2 Million in Funding
  • CurrencyFair Springs $10.7 Million More in Funding

Around the Web

  • Thomson Reuters unveils ASKTRPS to help fixed-income professionals meet reporting requirements.
  • MasterCard to sponsor Smart City App Hack.
  • Alabama Teachers Credit Union and Greater TEXAS Federal Credit Union to launch SmartwearApps for the Apple Watch courtesy of Malauzai Software. See Malauzai at FinovateSpring 2015 in San Jose next month.
  • Former Salesforce chief architect Scott Hansma joins Lending Club as senior vice president of technology.
  • MasterCard partners with Alliance for Financial Inclusion to support AFI’s Public-Private Dialogue Platform.
  • American Banker’s highlights from Prosper and Lending Club at this week’s LendIt conference.
  • News.com.au’s Investing highlights SocietyOne’s role in “dude-to-dude” lending.

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

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.

Alumni News– January 29, 2015

  • Thumbnail image for 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.jpgTinkoff Bank to deploy fraud prevention solution from Iris Analytics.
  • EagleBank implements EnAct client management and sales software from Fiserv.
  • KDnuggets interviews Anthony Bak, principal data scientist for Ayasdi.
  • Red Zebra Analytics brings its card-linked offers service to Germany.
  • Ripple Labs raises $30 million in Series A round.
  • CNBC Tech Check interviews Tradeshift CEO Christian Lanng.
  • Computer Business Review features Venmo and Flint Mobile in its list of “5 mobile apps to turn your wallet digital.
  • Datamonitor analyst describes why he’s looking forward to watching Advice Games’ demo at FinovateEurope 2015.
  • Simple now works on BillGuard.
  • Google Cloud Platform now available to VMware customers.
  • TechCrunch explores Coinbase’s recently launched U.S. exchange.
  • Cachet Financial Solutions integrates with Apple Pay.
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.

Alumni News– January 20, 2015

  • Thumbnail image for 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.jpgACI Worldwide partners with ATM provider LD Systems.
  • Nutmeg hires former Google financial search ad specialist, Scott Eblen, as Chief Product Officer.
  • Azimo customers can now send money to another eight West African countries.
  • The American Bankers Association endorses PFM and BFM platforms from Geezeo.
  • New app from no-fee, no-branch BankMobile is powered by Malauzai Software.
  • Wall Street Journal’s top tools for retirement planning features BillGuard, blooom, HelloWallet, MaxMyInterest, Mint, True Link Financial, and Yodlee.
  • Check out our latest CEO interview: Global Debt Registry CEO Mark Parsells Brings Transparency to Debt Ownership. 
  • Top Image Systems and SQN Banking Systems deploy signature verification project at Singapore bank.
  • TechVibes highlights Trulioo founder, Stephen Ufford.
  • Integrity now offers CardFlight mPOS to its merchant customers.
  • Credit Karma now has more than 35 million members, accounting for 16% of US population with an open credit profile at a major bureau.
  • Continuity named one of Connecticut’s 2015 Best Places to Work.
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.