Finovate Alumni News– May 14, 2014

  • Finovate-F-Logo.jpgTIO Networks partners with New Jersey’s Public Service Electric and Gas Company to set up bill payment kiosks.
  • Pindrop Security and AGNITiO partner to protect call centers as they adapt to an increasingly mobile customer base.
  • Bolstr explains the basics of crowdfunding on NBC Chicago.
  • Loop Wallet app now available on Android.
  • Maps Credit Union chooses ACI Worldwide’s online banking platform.
  • Javelin Strategy takes a look at bill pay alternatives to Manilla, including Finovera.
  • BodeTree brings in $2 million in Series A round.
  • SavedPlus, LikeFolio, Wallaby, FutureAdvisor, Simple and Wealthfront earn spots on CNN Money’s list of the 15 best financial websites and apps.
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 9, 2014

  • Q2ebanking releases first quarter results with 2014 Q1 revenue of $16.8 million, up 31% YOY.
  • Stockr voted Top 100 Website by PC Magazine.
  • Dell Services improves enterprise mobility offerings with Kony partnership.
  • Silicon Slopes: MoneyDesktop snags AtTask executive for EVP of Sales.
  • MasterCard launches “auWallet” prepaid card program for APMEA region in partnership with KDDI.
  • Nymeo Federal Credit Union to deploy account processing technology from Fiserv.
  • Klarna, Provenir launch project to combine fraud risk decisioning with compliance, risk management automation.
  • Entrepreneurial digital startup hub, 1871, features Rippleshot.
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– April 1, 2014

  • Finovate-F-Logo.jpgNBC Chicago hosts Bolstr to discuss crowdfunding and SMB growth.
  • Actiance’s Socialite gets new features for better UX on native websites & more integrations w/ CRM platforms.
  • FIS’ licensing agreement to make the Visa EMV debit solution available to all NYCE debit network participants.
  • Truphone is offering unlimited voice and SMS recording through June.
  • Misys launches new Regulatory Reporting Service to help managers and banks meet EMIR regulations.
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 31, 2014

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgThreatMetrix CTO Andreas Baumhof discusses the need for new authentication strategies for retailers.
  • NBC Chicago interviews Larry Baker, co-founder of Bolstr, on the basics of crowdfunding.
  • Trustly named to 2014 Red Herring Top 100 Europe award.
  • The Real Money Story reviews Jemstep.
  • Top Image Systems and Konica Minolta Spain partner to market eFLOW Invoice and Digital Mailroom business automation projects.
  • Upstart Business Journal looks at how developments from payment startup PayNearMe match up against big players.
  • A look at Xero’s new integration with Square.
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– January 31, 2014

  • Finovate-F-Logo.jpgHuff Post lists Mint and BillGuard as 2 tools to help monitor your account 
  • American Banker looks at how Open Bank Project seeks to help banks open their own app stores.
  • CBS Pittsburgh features Dynamics. Come see it demo its latest technology at FinovateEurope.
  • Acculynk’s P2P platform Payzur now allows businesses to make instant direct deposit payments to debit cards.
  • Data scientists return to Check for clues on consumer behavior.
  • Guaranty Bank announces its deployment of FIS core 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.

SEC’s Recent Vote May Ease Operating Restrictions for Nine Finovate Alums

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The U.S. Securities and Exchange Commission (SEC) this week unanimously voted to approve the proposed rules that will govern online crowdfunding. Under these provisions, companies will be allowed to offer and sell securities through crowdfunding.

Some of these companies have been waiting since early 2012, when Obama signed the JOBS Act, for the SEC to create the regulation, which is intended to protect private, non-accredited investors. 

Investors who earn under $100,000 per year will be limited to $2,000 per year investment, or 5% of their income, and those who make over that amount will be limited to invest 10% of their income annually. However, in order to reduce burdens on the companies raising the funds, and the funding portals, the new regulation does not explicitly require them to verify the income of the individual investors.

According to the SEC’s press release, its proposed rules would require SEC-registered intermediaries (broker-dealers, funding portals) to:

    • Educate investors
    • Manage the risk of fraud
    • Provide information about the issuer and the offering
    • Furnish communication channels
    • Facilitate the offer and sale of crowdfunded investments
The proposed rules would prohibit them from:
    • Offering investment advice or making recommendations
    • Soliciting purchases, sales or offers to buy securities 
    • Restricting compensation for solicitations
    • Holding, possessing, or handling investor funds or securities

Before the rules are passed, they must go through a 90-day comment period, after which, they may be altered to reflect the comments. Once the final rules have been decided, the nine Finovate alums below will be able to solicit to non-accredited investors, subject to the SEC’s final ruling.

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Founded: 2011

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Founded: 2012

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Founded: 2010

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Founded: 2010

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Founded: 2012

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Founded: 2012

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Founded: 2010

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Founded: 2012

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Founded: 2011
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From an operational standpoint, life for these startups will be a bit easier after the SEC passes the provisions, since it will increase the number of investors on their platforms. They will, however, be faced with increased regulation, which Forbes estimates will cost more than $100,000 annually. This estimate includes procuring and offering disclosure documents, enlisting a funding portal, running background checks, and filing an annual report with the SEC.

The first provision of the JOBS Act, which allows companies to advertise to accredited investors, went into effect September 23.

Finovate Alumni News– August 16, 2013

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  • SoftwareAdvice.com’s Plotting Success blog ranks MicroStrategy among top six best designs in iPad business intelligence software.
  • Business Bee’s The Daily Buzz takes a look at the LeafPresenter tablet from Leaf.
  • The Telegraph features Zopa in a column on P2P lending.
  • Ad News Australia reports on the rollout of MasterPass from MasterCard.
  • MyFoxChicago interviews Bolstr co-founder Larry Baker on the topic of funding for small business entrepreneurs.
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– August 15, 2013

  • Finovate-F-Logo.jpgANZ Group goes live with Fiserv’s Mobiliti Reach.
  • The Currency Cloud CEO, Mike Laven, explains the issues behind the recent remittance crisis.
  • IND Group & PayPal team up to offer P2P Payment via email in Europe.
  • SunTrust introduces BCSG’s Business Hub and CreditHQ tools; an online package of small business solutions.
  • Bolstr on FOX News Chicago: Local Business Raises $12,000 in under 48hrs on Bolstr.
  • Mint, Manilla featured in Digital Trends list of 12 useful online services and apps for students.
  • Quantopian’s John Fawcett writes about the intersection of social media, algorithms, and the browser when it comes to investing.
  • American Banker takes a look at Credit Agricole’s CAStore.
  • Mobile Payments Today highlights PayConnect from PreCash in a column on mobile wallets and the payment industry.
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– July 25, 2013

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  • Silicon Prairie lists Banno and Dwolla as 2 Iowa startups to follow on Twitter.
  • Wakefield reports: Bolstr is navigating the legal complexities of crowdfunding.
  • PlayMoolah working with OCBC Bank for the second year running to teach children about saving.
  • FIS announces new prepaid card technology agreement with KeyBank.
  • WebrazziTV interviews miiCard marketing manager Cassie Anderson at Bitcoin London.
  • Finovate alumni Zopa, TransferWise, miiCard, and LICUOS highlighted in Innotribe co-founder Matteo Rizzi column on banking.
  • Invitations for Google Wallet for Gmail start arriving for registered early adopters.
  • All Things D profiles Motif Investing. See them in action at FinovateFall in September.
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– June 13, 2013

  • Finovate-F-Logo.jpgZopa Safeguard now has 15,000 users and has had £16m lent on platform. Zopa reaches £300m in money lent to borrowers in the UK.
  • Bank Innovation reports: Cardlytics Has 33 Million Active Users at 400 Banks.
  • Inc. Magazine creates infographic of how to select the right crowdfunding platform. Bolstr and SeedInvest among choices.
  • CommunityLend’s FinanceIt partners with Pivotal Payments, a credit card payment processing company, to enable merchants to process loans directly at the POS.
  • Capital Access Network opens new facility in Lindora, Costa Rica to support growth.
  • Finect president Jennifer Openshaw talks networking for financial professionals on MarketWatch Radio.
  • Street Fight Mag includes Placecast among its “5 Tools for Point of Interest Geo-Targeting”.
  • TransferWise launches GetPaid to make it easier to get compensated when working with international clients and partners.
  • Developer Tech features Keynote Systems’ CEO Umang Gupta.
  • Point of Sale highlights Finovate alumni Flint Mobile and PayPal.
  • Social Trading Guru reviews ayondo 3.0.
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.