Finovate Alumni News

On Finovate.com

  • “CBANC Launches New Features to Further Engage Network of Professionals”

On FinDEVr.com

Around the web

  • MX inks multi-year data-aggregation deal with USAA.
  • Feedzai opens new offices in the U.K.; hires new head of international operations.
  • Payoneer buys Armor Payments.
  • Micronotes leverages AI and machine learning with new suite of cross-sell solutions for banks.
  • TransferWise teams up with Pay Gate to bring its money-transfer service to South Korea.
  • Insuritas to deploy turnkey insurance agency at Sun Community FCU ($358 million in assets).
  • Genworth Mortgage Insurance to use technology from Roostify to streamline home-buying process.
  • Former Check CEO Guy Goldstein’s Next Insurance announces $13 million seed-round led by Zeev Ventures, TLV Partners, and Ribbit Capital.
  • Patch of Land rolls out mid-term loans of two to five years.
  • In the U.K., PayPal Here SDK reveals first eight business partners.
  • CustomerXPs featured on Nasscom’s Indian Analytics Products Landscape.

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

  • Dream Payments Unveils Mobile Merchant Platform for Banks and Acquirers.
  • Blackhawk Network Names Talbott Roche New CEO.
  • Coinbase and Motif Investing Earn Spots on Fast Company’s Most Innovative Companies of 2016 List.

Around the web

  • Fiserv named to Fortune magazine’s list of the World’s Most Admired Companies in 2016.
  • Pindrop launches its comprehensive call center fraud-prevention platform, IVR Anti-Fraud.
  • Sussex County FCU picks Insuritas to deploy new insurance agency solution.
  • iSignthispaydentity KYC service is suitable for use by businesses in the regulated sector of the Isle of Man, a global financial hub.
  • Inc. profiles Sweden’s Klarna and its plans for U.S. expansion.
  • Co-founded by former Check CMO Daniel Kjellen, MovoCash announces $700,000 seed investment.
  • Ingo Money partners with PayPal, adds instant check-splitting.
  • Roostify to integrate with zipLogix to facilitate communication between lenders and realtors.
  • American Banker features SecondMarket.
  • Bluefin Payment Systems and Worldnet partner for PCI-validated P2PE on Worldnet’s payment platform.
  • Cachet appoints new Chief Financial Officer Bryan Meier.

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– September 4, 2014

  • Finovate-F-Logo.jpgThreatMetrix to provide location-detecting solution help institutions meet the Treasury Office’s international business regulations.
  • LifeHacker: ReadyForZero tracks your debt and helps manage your credit score.
  • Graphic Packaging Holding selects Taulia to provide its Business Exchange program to optimize the organization’s payables process.
  • BiometricUpdate.com features BehavioSec. Come see its presentation at FinDEVr.
  • Jane J. Thompson joins OnDeck Board of Directors.
  • Wallaby Financial launches Android Wear app.
  • PayPal extends fingerprint authentication to Samsung Note 4 and Gear S.
  • EverBank partners with FIS to bring PeoplePay to its banking customers.
  • Forbes.com features Check among three nightmare-reducing money disruptors.
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.

Check Announces Major Expansion of Photo Bill Pay Beta

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Less than a month after being acquired by Intuit, Check has announced that it is expanding the beta program for its latest innovation: photo bill pay.

Starting this week, tens of thousands of Android users will have the opportunity to take Check’s photo bill pay technology for a trial run. The company hopes to have its photo bill pay solution available on all platforms by the end of the year.

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How does Check’s photo bill pay work? Start with an Android smartphone, an installed Check app, and an unpaid bill. Users open the camera icon on the app, and then take a photo of the bill with their smartphone. The next screen provides the user with some basic information, as well as a scanned copy of the bill.

Consumers can pay with whatever payment method they prefer, such as a bank account or credit card. The bill can be paid immediately or scheduled for payment at a later date.
As Check sees it, not only is photo bill pay a great convenience for the consumer, but also the technology supports the company’s mission to promote a paper-free world when it comes to managing personal finances.
Note that the photo bill pay technology is free to use and works with any payment method.
Launched in 2008 under the name Pageonce and demoing under that name at FinovateFall 2010, the company rebranded as Check in the summer of 2013. It was acquired by Intuit in May 2014. The company has more than 11 million users. Guy Goldstein is CEO.

Alumni News– July 18, 2014

  • Finovate-F-Logo.jpgInnotribe finalists include early stage companies CurrencyTransfer and LendingRobot.
  • Innotribe finalists include growth stage companies Advanced Merchant Payments, Fastacash, Mambu, and Wallaby.
  • Pymnts talks with PaySimple CEO and founder Eric Remer to discuss how PaySimple looks at B2B payments.
  • Check announces major expansion of photo bill pay beta.
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– July 9, 2014

  • Finovate-F-Logo.jpgBank Systems & Technology: Consumers CU Expands National Footprint with Andera’s Online Account Opening Solution.
  • Lendio launches free version of prospect mgmt software, Pipeline, for the business loan process.
  • Encap Security joins the Fast Identity Online (FIDO) Alliance to change the nature of online authentication by reducing reliance on passwords.
  • LendAcademy takes a look at $146 million in new loan originations in June for Prosper.
  • And speaking of Prosper, Altifi.con’s This Week in Crowdfunding features Prosper CEO Ron Suber.
  • Rebranded version of Ripple Client, Ripple Trade emerges from two-month soft launch.
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– June 20, 2014

  • Finovate-F-Logo.jpgBillGuard expands internationally, now available in Australia, New Zealand and the UK.
  • Simple speeds up money transfers: 1 business day for xfers from Simple and 3 business days for xfers into Simple.
  • Credit Sesame attracts 1 million + users to enroll in its free ID theft protection service.
  • American Banker talks about Check in its feature on the role of mobile bill pay in helping banks retain customers.
  • Fiserv announces that its CUnify account processing platform will be deployed by United Credit Union.
  • The National Bank (TNB) in Palestine signs deal with Temenos to replace current platform with T24.
  • Check announces billpay partnership with Direct Energy.
  • Gremln raises $100,000 as participant in SixThirty Accelerator Program.
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.

Check Announces BillPay Partnership with Direct Energy

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Did you think Check (FinovateSpring 2010) might miss a step in the days and weeks following its acquisition by Intuit?

Think again.

Check announced this morning that it has signed a new partnership with Direct Energy. This means the customers of Direct Energy, one of the largest retail producers of electricity and natural gas in North America, will have the ability to pay their utility bill via their smartphone and Check’s mobile app.
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Check COO, Steve Schultz, said in a statement:
 
“(Direct Energy) understands how important the mobile experience is to customers’ satisfaction today. Partnering with Check complements Direct Energy’s great efforts to successfully attract and retain customers.”
Direct Energy serves six million customers in the U.S. and Canada. The  company operates in 46 states and in 10 Canadian provinces.
Check’s technology makes it easy for consumers to track and pay bills by consolidating and automating the bill pay process. Consumers can rely on Check to let them know what bills are coming due when, and then pay them automatically via the mobile app.
Partnerships with utility companies like Direct Energy are a major component of Check’s overall strategy for growth. Local, state, and regional partnerships with Alltel Wireless, New Jersey Natural Gas, and Arlington Water have helped Check grow the number of consumers who consistently take advantage of the technology. Payments costs are lower, and the amount of time spent tracking and paying bills is greatly reduced.
Founded in 2008 and rebranded as Check early in the summer of 2013, the company was acquired by Intuit in May, a transaction that closed on Monday. More than 10 million consumers use the Check app to pay bill using their mobile device.

Alumni News– June 18, 2014

  • Finovate-F-Logo.jpgThreatMetrix integrates with Ping Identity’s PingFederate ID bridge to provide contextual employee authentication.
  • Kony brings in $50 Million in Financing Led by SoftBank Capital.
  • Eight Finovate alums earn spots on CNBC’s Disruptor 50 list: Motif Investing, TransferWise, Personal Capital, Wealthfront, Lending Club, Coinbase, Bill.com, and Betterment.
  • Umpqua Bank announces plans to transition to a scalable core solution from FIS.
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 28, 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.jpgTSYS announces processing, customer service support for KBC Bank Ireland’s credit card launch.
  • Euromonitor International’s consumer finance analyst takes a look at Rippleshot.
  • Check’s New Mate: Intuit acquires billpay innovator for $360 million.
  • Authentify to add fingerprint and NFC security to mobile transactions.
  • Maybank Singapore and Tagit win Best Single Country Mobile Banking Project Award in 8th Asian Banker Tech 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.

Check’s New Mate: Intuit Acquires Billpay Innovator for $360 Million

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It’s a little early for a June wedding. But as the saying goes, what fintech synergies bring together, let no man put asunder.

Intuit, a global fintech leader with a demonstrated affection for Finovate alums, has announced its acquisition of billpay innovator, Check. The Palo Alto-based startup formerly known as Pageonce has grown from its humble origins as a way for consumers to track their expenses to what is now a fully-grown digital wallet combining billpay, PFM, and mobile.

And a potentially critical component of Intuit’s consumer-facing personal finance initiative, as well. Intuit purchased fellow Finovate alum, Mint, in 2009, and it is believed that bringing Check’s technology into the mix will enhance the company’s ability to provide a more comprehensive PFM/billpay solution.

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The acquisition is expected to close this summer. Check CEO Guy Goldstein will stay on as vice president for Intuit’s consumer ecosystem group.
Investors seem content with the news. Shares of Intuit were inline with the performance of the broader market on Tuesday. And the reported purchase price of $360 million is not likely to put much of a financial strain on Intuit and its $23 billion market capitalization.
In a statement, Guy said: 
“We look forward to merging our talent, mobile mindset and spirit of innovation with Intuit to build products that delight consumers and become a part of their everyday financial lives.”
Check was founded in June 2007 as Pageonce. The company demoed as Pageonce at FinovateFall 2010 in New York, and changed its name to Check in May 2013.
For some interesting insights on Check’s business model, take a look at Jim Bruene’s April 2014 NetBanker column, “Billpay: After 20 Years as a Loss Leader, Check/Pageonce Shows Path to Profitability.”

New Jersey Natural Gas Customers Can Now Pay via Check Mobile App

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I don’t know if natural gas truly is the bridge between our dirty fuel past and a green energy future. But I’m increasingly convinced that mobile payments companies like Check are the bridge between our dirty cash past and a future free of paper payments.

Check announced today that it has signed yet another agreement with a major utility company to allow customers to pay their bills via the company’s mobile app. Kathleen Kerr, VP for customer service at New Jersey Natural Gas, said, “many of (our customers) already use Check’s app … So it is a natural next step for us to learn with Check.”

Check’s interest in utility companies and their customers is not new. Back in October the company surveyed more than 50 utility companies as part of what now is clearly an effort to target the industry as a potential customer base. Check currently has relationships with utility companies such as Desert Water Agency, Irvine Ranch Water District, and Alltel.
The Check app is available on both iOS and Android. Check was launched in 2008 and is headquartered in Palo Alto, California. The company’s mobile app is used by more than 10 million bill payers around the country.