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

On Finovate.com

  • “Finovate Debuts: Whodini Takes KYC to the Bluetooth Level”
  • “DriveWealth Hires Harry Temkin as New Chief Information Officer”

Around the web

  • PYMNTS chats with Morgan Beard, strategic marketing director at TSYS about how “Bring Your Own Persona” applies to banking.
  • Akamai Technologies partners with CU Cloud, China Unicom’s cloud business, to offer web performance, media delivery, and cloud security services.
  • TransferWise surpasses £500 million transferred worldwide every month, representing 2% of the U.K.’s global remittance market.
  • Money.com’s column on the secrets of crowdfunding success highlights Realty Mogul.
  • Financial Times profiles European payments innovator, Klarna.
  • GAINSCO Auto Insurance to provide agents with e-signature technology from Silanis Technology.
  • Wealth Management looks at the “new breed” of fintech companies specializing in alternative investments such as HedgeCoVest and Hedgeable.
  • Benzinga’s Jim Probasco interviews Sang Lee, CEO and co-founder of DarcMatter.
  • Edenred Mexico to deploy real-time transaction-monitoring and customer-analytics technology from INETCO Systems.
  • Market Prophit and TickerTags are featured in a Waters Technology column on the changing nature of market data.
  • HuffPo Business interviews TrueAccord COO Sofya Pogreb as part of its series on women in business.
  • Coin Telegraph lists Bitbond, Wealthfront, and TrueAccord in its roundup of “rising fintech startups.”
  • Tech.co looks at how Trulioo defends startups against credit card fraud.
  • How Motif CEO Hardeep Walia and Personal Capital CEO Bill Harris feel about the term “robo-advisor”.

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

  • Finovate Debuts: SayPay Combines Voice Recognition and Biometric Authentication

Around the web

  • ColoradoBiz talks with Entrepreneur of the Year finalist: Krista Morgan, CEO and co-founder of P2Binvestor.
  • TechCrunch column on bitcoin and the remittance market references Coinbase and TransferWise.
  • PYMNTS.com highlights OnDeck, Lending Club, and Prosper in its look at the changing relationship between banks and alternative lenders.
  • Business Insider: SocietyOne thinks Australia is big enough for a bunch of small players.
  • TradeHero parent partners with the Singapore Exchange (SGX) to launch the SGX StockWhiz 2015 contest.
  • Bitbond, Wealthfront, and TrueAccord listed among six rising fintech startups.
  • Lendio-powered Staples business loans surpasses $1 million in funding for 43 SMBs across the U.S.
  • Quisk short-listed for Red Herring’s Top 100 North America award.
  • Fox Financial Planning Network picks Jemstep’s Advisor Pro as automated investment service platform for its AdvisorTouch Symphony program.
  • The Hanover Insurance Group teams up with Identity Theft 911 to provide businesses with better defense against data breaches.
  • FearlessMen.com reviews small business lender, EZBOB.
  • etcAndroid spotlights Toshl Finance Budget and Expense app 1.7.21.
  • FundSERV to integrate e-SignLive from Silanis into its eDOCS solution.
  • Mitek to acquire IDchecker, a global identity verification solutions provider.
  • Oink featured in USA Today’s list of five financial musts for college grads.
  • Accredited Investor Markets interviews DarcMatter CEO Sang Lee.
  • Kabbage partners with Sage payment solutions to launch Sage small business loan powered by Kabbage.

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.

Bitcoin-based P2P Lending Platform Bitbond Raises $670,000

Bitcoin-based P2P Lending Platform Bitbond Raises $670,000

BitbondBrowseloans

Global bitcoin-lending platform Bitbond today announced receipt of $670,000 (€600,000) in an angel funding round. Combined with its $220,000 (€200,000) seed round in August 2014, the startup’s funding now totals just under $900,000.

Early investor, Point Nine Capital, led the round, and a host of angel investors also contributed. Business angels include:

  • Florian Heinemann
  • Uwe Horstmann
  • Christian Vollmann
  • Felix Jahn

The Berlin-based company counts 10,000+ registered users from 120 countries. Bitbond’s goals for the new funding are to grow its user base and increase activity in emerging markets underserved by traditional lenders.

Since launching to the public in July 2013, Bitbond has originated more than 600 loans through its platform.

Bitbond’s mission is to make global borrowing and lending more accessible, and it does that by using bitcoin to create a global market for small business loans.

You can find an in-depth look at Bitbond’s platform in our Finovate Debuts series.

At FinovateEurope 2015 in London, Bitbond debuted its Autoinvest feature that uses an algorithm to allocate lenders’ funds automatically and according to their preferences.

Finovate Alumni News

  • Business Standard looks at the partnership between TradeHero and OANDA.
  • P2Binvestor reaches $50 million invoices-funded milestone.
  • Ripple Labs adds former State Department policy official, Anja Manuel, as advisor.
  • peerTransfer picks Digital River to provide payment processing.
  • Trustev Wins Most Disruptive Technology Award at SXSW.
  • WattzOn to participate in Georgetown University Energy Prize competition to help communities reduce energy consumption.
  • Toopher raises $200,000 of planned $300k financing round.
  • Fifth Third Bank launches online money movement solution from CashEdge.
  • Finovate Debuts: How Bitbond Leverages Bitcoin to Benefit Borrowers and Lenders.
  • Madrid-based Banco Mare Nostrum implements MicroStrategy as its analytics standard to drive analysis and insight for its employees.
  • American Banker features David Pinski’s move from a bank to a startup, Zumigo.
  • Payment Week interviews Cardlytics on how big data is changing consumer engagement.
  • American Banker: Ripple Labs hires Anja Manuel, a former U.S. State Department official, as company adviser.
  • Ovum names Kony a leader, recognizes it for its comprehensive cloud-based mobile solution.
  • ThreatMetrix enhances TrustDefender Mobile to help businesses meet new payment card industry data security standards.
  • Spring and All: FinovateSpring 2015 Presenters Revealed!

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 Debuts: How Bitbond Leverages Bitcoin to Benefit Borrowers and Lenders

Finovate Debuts: How Bitbond Leverages Bitcoin to Benefit Borrowers and Lenders

BitbondLogo

Bitbond’s peer-to-peer bitcoin lending platform connects small businesses looking for loans with lenders in search of a fixed-income investment. Because it uses Bitcoin, Bitbond has three advantages over traditional P2P lending companies:

  1. Global
    Since Bitcoin works across country borders, it doesn’t charge foreign exchange fees.
  2. Instant
    Instead of relying on ACH money transfers, the funds travel at the speed of Bitcoin– instantly.
  3. No bank account necessary
    Unlike traditional P2P lending platforms, users do not need a bank account to borrow or lend.

Though many think of Bitcoin as risky, Bitbond protects users from the digital currency’s volatility by denominating loans in U.S. dollars (USD). With USD as the base currency of the loan, the value is fixed, which mitigates exchange rate fluctuations.

BitbondHomepage

Stats

  • $212,000 equity raised
  • 4 employees
  • 7,000+ registered users from 120 countries
  • Originated 500+ loans to date
  • Launched in 2013
  • Headquartered in Berlin, Germany

Borrowers

Borrowers create an account and submit a loan request that includes the purpose, along with income, location, and other information. Loan amounts begin at BTC 0.1 ($28)* for a term ranging from six weeks to five years. Borrowers pay a fee between 0.5% to 3% of the loan amount, in addition to interest.

If  borrowers want to seem more attractive to lenders, they can pay Bitbond to assess their creditworthiness. The rating ranges from A to F, and depends on factors such as credit bureau rating, type of employment, eBay feedback score, and other applicable factors.

The screenshot below shows a lender’s view of a borrower’s profile page:

BitbondExampleLoanRequest

Borrower benefits:

  • Access to a global lender base
  • No bank account necessary
  • Lower interest rates
    The interest rates range between 8% and 25%, which is often less than local lenders.

Lenders

To browse available loan requests, lenders filter listings by rating, term, country, and base currency:

BitbondBrowseLoanListingsPage

Lender benefits:

  • Access to a global, diverse asset class
  • Zero fees, lenders pay only taxes

Autoinvest

At FinovateEurope 2015, the startup launched Autoinvest. This new feature does exactly what you would assume: it automatically allocates funds for lenders based on pre-selected criteria: risk, currency, and geographical region.

To begin auto-investing, lenders must:

1) Determine amount to allocate

2) Select U.S. dollar or Bitcoin as the base currency. While all payments are conducted in Bitcoin, if lenders select USD, the value is fixed in dollars and the borrower and the lender mitigate exchange rate fluctuations that are common with the digital currency.

3) Appoint risk rating (Low, Medium, High)

4) Choose up to six different geographical regions

After this process, Bitbond screens and allocates funds for the lender, who has visibility to all investments in their portfolio summary.


Bitbond debuted Autoinvest at FinovateEurope 2015. Check out the live demo.

*based on Bitcoin value as of March 17, 2015

Bitbond Launches AutoInvest Feature for Bitcoin-Based Peer-to-Peer Lending Platform

BitbondLogo.jpg

This post is part of our live coverage of FinovateEurope 2015.
 
Bitbond launched AutoInvest feature for its bitcoin-based P2P lending platform.

Bitbond AutoInvest allocates funds on behalf of lenders according to their chosen investment profile. AutoInvest will create a loan portfolio according to predefined criteria. The criteria are: investment amount, risk category, base currency, and regions. The regions are North America, Latin America, the Caribbean, Europe, Central Asia, the Middle East, North Africa, Sub-Saharan Africa, Asia, and the Pacific.

The exciting thing about portfolio building according to a profile is that Bitbond allows you to invest automatically into a globally diversified loan portfolio at 0% fees.

Presenters: Co-founders Radoslav Albrecht, CEO, and Robert Nasiadek, CTO
 
Bitbond_8063.JPG
Bitbond_8071.JPG
Product launch: February 2015
Metrics: €200,000 equity raised; 4 employees; more than 6,000 signed-up users from 120 countries
Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B), through other fintech companies and platforms
HQ: Berlin, Germany
Founded: January 2013
Website: bitbond.com
Twitter: @Bitbonds

Alumni News– January 30, 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.jpgWipro wins multi-year, IT outsourcing contract from Allied Irish Banks (AIB). Join Wipro in London for FinovateEurope 2015 next month.
  • The Financial Services Blog features more than 20 Finovate alums in its look at the 50 most innovative FinTech firms.
  • MasterCard PayPass partners with St. Petersburg Metro to bring contactless payments to Russian subway.
  • Blackhawk Network unveils Blackhawk Engagement Solutions to build customized incentive and rewards programs.
  • FinovateEurope 2015 Sneak Peek: Part 6 is now up.
  • American Banker highlights Cloud Lending’s role with banks.
  • PYMNTS interviews TSYS Merchant Solutions’ Tom Boyer about changes in the payments acquiring space.
  • Bolstr Raises $1.7 Million in Seed Funding.
  • The blog herald shares an infographic detailing online security methods: Nymiband, Myris, Eyeverify, BehavioSec, Entersekt.
  • Lifehacker features Betterment, Mint, Personal Capital as tools to manage your investments.
  • Bitcoinist features Bitbond. Check them out at FinovateEurope February 10 & 11.
  • BetaBoston: After a successful 2014, student services company SimpleTuition rebrands as Valore.
  • Mitek Q1 revenue up 21% YOY; reports 3,300 financial institutions now signed & 2,700 live.
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.

FinovateEurope 2015 Sneak Peek: Part 6

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February is only a few days away, which means that the first Finovate conference of the year – FinovateEurope 2015 – is almost here. We are well on our way to surpassing last year’s record crowd of 1,000. So don’t delay, get your tickets to join us in London on February 10 and 11. 
We’ve just revealed the official list of presenters to help whet your appetite for what some of fintech’s most innovative companies will demonstrate live on stage.
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Today’s installment of our FinovateEurope 2015 Sneak Peek series features Bitbond, Revolut, Smart e-Money, TiViTz, TransferTo, and Wipro.
Previous installments of our Sneak Peek series are below:

Bitbond_FEU15_hires_logo.jpg

Bitbond is a global peer-to-peer bitcoin lending platform. Get access to affordable loans and profitable savings from all around the world.
Features
With Bitbond AutoInvest:
  • Build a loan portfolio automatically
  • Define regions and risk categories to invest in
  • Re-invest received loan repayments
Why it’s great
Bitbond AutoInvest creates a portfolio of profitable loans for you at 0% fees according to your preferences.
Presenters

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Radoslav Albrecht, Co-founder and CEO
Background in economics. Prior to founding Bitbond, Albrecht was Senior Consultant at Roland Berger Strategy Consultants. Previously with Deutsche Bank London in structured equity.

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Robert Nasiadek, Co-founder and CTO
Programmer since childhood. Before joining Bitbond, Nasiadek started the Ruby on Rails development company, El Passion. Board advisor at Gimmy.pl.

Revolut_FEU15_hires_logo.jpg

Revolut is a personal money cloud allowing you to avoid all hidden banking costs.
Features
You can exchange currencies at interbank rates, send them through social networks and spend with a multicurrency card acceptable anywhere.
Why it’s great
Revolut – Personal Money Cloud
Presenters

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Nikolay Storonsky, CEO
Storonsky has eight years experience in financial services (trading). Most recently he worked for Credit Suisse and Lehman Brothers.

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Vlad Yatsenko, CTO
Yatsenko has 12 years experience in developing IT projects in major financial institutions including Credit Suisse, UBS, and Deustche Bank.

Smart_eMoney_FEU15_hires_logo.jpg

Smart e-Money’s LockByMobile is an anti-fraud security solution which allows you to lock and unlock your cards in real-time using your mobile phone.
Features
  • Provides an extra layer of security for your added peace of mind
  • Easy-to-use interface to lock/unlock your cards with a simple swipe of the finger
  • Customizable lock settings and built-in alerts
Why it’s great
Feel secure when using your card locally or even abroad. With LockByMobile, you have the power to prevent fraud from happening.
Presenters

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Angelito Villanueva, VP & Head of Innovation
With over 20 years experience, Villanueva is the lead in unlocking the huge potential of e-money by introducing digital payments innovations for financial inclusion including building a dynamic ecosystem.

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Guillaume Danielou, Senior Product Manager
With 12 years experience in IT Development/Consulting/Product Development, Danielou has experience working throughout the entire product development life cycle process in international environments.

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TiViTz College $avings Game-a-thon is a fully automated, easy-to-use, market-disrupting, patent-pending, activity-based fundraising tool for children’s college savings.
Features
  • Complements existing financial savings vehicles
  • Creates new college savings accounts and relationships
  • Provides a marketing tool for consumer and business banking
Why it’s great
The Game-a-thon provides families with a solution to afford higher education by significantly increasing children’s savings, while improving their math skills and financial literacy.
Presenters

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Siobhan Mullen, CEO
Former aerospace executive, Special Advisor to the NASA Administrator, and experienced high-tech entrepreneur in launch services, satellite communications and data distribution.

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Stephen Scully, President


TransferTo_FEU15_hires_logo.jpg

TransferTo’s Value Remittance service is an innovative and unique remittance solution that enables migrants to determine how the funds they send are allocated.
Features
Value Remittance provides direct payment of services such as electricity, mobile airtime, and education, while providing a new revenue stream for financial institutions and MTOs.
Why it’s great
Value remittance allows senders to know exactly how their money is being spent and provides the receiver with instant access to the selected service.
Presenters

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Eric Barbier, CEO
As founder and Chief Executive Officer, Barbier oversees the strategic direction of the company as well as manages the relationships with many of TransferTo’s customers and partners.

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Charles Damen, EVP Global Business Development
Damen is responsible for the development of new services, strategic partnerships, and the growth of global accounts with over 18 years of experience in telecommunications, Internet, and payments.

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Wipro ngGenie Smart Banking Assistant provides the “next generation banking experience” for customers. It helps by providing you with right information at the right place.
Features
A personalized, contextual, next generation user experience for banking customers that can result in reduced costs of serving customers and an increased cross sell / up sell opportunities.
Why it’s great
Wipro myAdvisor helps in day-to-day transactions and acts as your personal financial advisor.
Presenters

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Mukund Kalmanker, General Manager
Kalmanker is a general manager at CTO office and has a rich background in the banking domain. He had earlier handled the banking business for Wipro under the Analytics and Information Management domain.

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Sudhakar Babu Tamminedi, Practice Head
Tamminedi has over 15 years of experience in Consumer and Enterprise Mobility applications across industries. He has provided end-to-end mobility solutions form conceptualization to deployment.

Pick up your tickets for FinovateEurope 2015 today! Want more info? Visit our FAQ page.