Alumni News– July 25, 2014

  • Finovate-F-Logo.jpgFox Business News features Kabbage’s small business lending process.
  • Huffington Post describes how DemystData’s big data analytics help evaluate creditworthiness.
  • Cartera Commerce’s CFO Karen Cambray named a finalist in Boston Business Journal’s 2014 CFO of the Year Awards.
  • Bloomberg: BillGuard programmers code in bomb shelters.
  • Coinbase launches Coinbase Vault to Better Secure Your Bitcoins.
  • MoneyDesktop appoints Brandon Dewitt as its first ever CTO.
  • SecondMarket CEO Barry Silbert stepping down in order to refocus his attention solely on bitcoin.
  • InvestmentNews features roboadvisors Jemstep, FutureAdvisor, Wealthfront, and Personal Capital.
  • The Irish Times looks at Holvi’s move into Ireland.
  • CMS Wire: Actiance wants to help companies curb social media mistakes.
  • Karen Webster of Market Platform Dynamics interviews Zooz CEO Oren Levy.
  • eToro announces new version of OpenBook for iOS.
  • Mobile Entertainment talks with Adam Levene, SVP of Strategy at Monitise Create.
  • LendingTree launches personalization platform.
  • Pymnts takes a look at the partnership between Malauzai Software and Trusteer. See Malauzai at FinovateFall in September.
  • Fortune.com interviews Bill Siegel, interim CEO of SecondMarket.
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.

Coinbase Launches Coinbase Vault to Better Secure Your Bitcoins

Coinbase Launches Coinbase Vault to Better Secure Your Bitcoins
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If you follow digital currency news, it’s likely you remember the crumbling of Bitcoin exchange Mt. Gox in February. The site went bankrupt when 850,000 Bitcoins (then worth around $450 million) were stolen from users’ accounts.

Coinbase today launched a new product, Coinbase Vault, that aims to keep it from sharing Mt Gox’s fate by keeping a portion of users’ bitcoin safe from hackers and unauthorized withdrawals.

CoinbaseVault

The free new account has three features that contribute to increased security:

    • Time-delayed withdrawals
      There is a 48-hour waiting period before withdrawals are transferred from the Vault account. During the waiting period, the transaction can be cancelled at any time.
    • Multiple approvers
      For joint accounts, approval from multiple parties is required in order to begin the withdrawal.
    • Offline storage
      97% of bitcoin is held offline in safe deposit boxes.

Coinbase showcased Instant Exchange at FinovateSpring 2014. You can check out the demo video here.

Alumni News– July 16, 2014

  • Finovate-F-Logo.jpgpeerTransfer and Nelnet expand partnership, enhancing international payment options for educational institutions.
  • Xero MD Chris Ridd featured on Qantas radio. Check out Xero at FinDEVr, the first event for fintech developers.
  • Micronotes releases Mobile-SMS to automate the referral process through the mobile SMS channel to drive more sales.
  • Lendio launches program for brokers that helps more SMBs find financing by giving brokers and ISOs access to Lendio’s lending options.
  • New app from The Members Group alerts Google Glass wearers if a Dwolla-accepting merchant is nearby.
  • mBank deploys authentication technology from HID Global.
  • Jack Henry launches jhaEnterprise Workflow solution.
  • Coinbase integration brings bitcoin payments to Shopify merchants.
  • Zooz raises $12 million in round led by Blumberg Capital.
  • MasterCard’s MasterPass to enable in-app payments by August.
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.

Coinbase Integration Brings Bitcoin Payments to Shopify Merchants

Coinbase Integration Brings Bitcoin Payments to Shopify Merchants
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If you’re a merchant on the Shopify e-commerce platform with a hankering to join the cryptocurrency revolution, then Coinbase has some very good news for you.

Thanks to a new integration of Coinbase’s technology, the more than 100,000 merchants that rely on Shopify to do business online will be able to start accepting payment in bitcoin as early as Tuesday.

The process involves setting up a Coinbase account, initiating the integration on Shopify, providing account credentials, and that’s it. Already on board are merchants such as Leap Motion, Soylent, and iOgrapher.
coinbase_homepage
Coinbase is a bitcoin payment processing and digital wallet platform that makes bitcoin transactions easier and safer. The company holds more than one million consumer wallets, and enables more than 28,000 merchants to accept payment in bitcoin. There are no fees charged for the first $1,000,000 in transactions, with merchants paying a 1% exchange fee beyond that amount. Coinbase’s most recent innovation, demoed at FinovateSpring in San Jose this year, is called Instant Exchange and helps remove exchange rate risk from bitcoin transactions.
Coinbase has had a busy first half of 2014. The company’s technology was integrated with Intuit’s PayByCoin in June. And Coinbase earned a spot on CNBC’s Disruptor 50 list shortly after announcing its acquisition of Kippt in May.
Founded in 2012 and headquartered in San Francisco, Coinbase was co-founded by Brian Armstrong (CEO) and Fred Ehrsam (President).

Developers! Curious how Coinbase makes it easy for merchants to add bitcoin payment functionality to their businesses and apps? Learn more about Coinbase’s Bitcoin API here. And be sure to check out our FinDEVr page for updates on the first event for fintech developers.

Alumni News– June 27, 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.jpgMatchi announces signing sponsorship agreement with Standard Bank Group.
  • Intuit’s PayByCoin integrates Quickbooks Online with Coinbase to allow merchants to accept bitcoin.
  • RevolutionCredit is among six startups presenting at the 2014 FinTech Innovation Lab in New York.
  • Trustly partners with PayPal to facilitate direct payments for online bank customers in Sweden and Denmark.
  • Acculynk joins with Navicure to offer payment platform for healthcare providers.
  • 500 Startups teams up with SeedInvest to raise money for $100 million Fund III.
  • A review of digital ID technology by the Economist includes a nod toward miiCard.
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 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.

Eight Alums Earn Spots on CNBC’s Disruptor 50

Eight Alums Earn Spots on CNBC’s Disruptor 50
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Hats off to eight Finovate alumni for winning spots on CNBC’s Disruptor 50.

2014 marks the second year of CNBC’s Disruptor 50 list. The selection credits companies for being “forward-thinking” and working to discover untapped markets en route to becoming “billion-dollar businesses.” Read more about CNBC’s selection methodology here.
CNBC’s David Spiegel wrote: 
“All of these companies entered traditional sectors and turned them upside down … It’s the power of a company to displace the established incumbents in its own industry, prompting a ripple effect throughout its economic ecosystem.”

See CNBCs inaugural Disruptor 50 here. The 2013 list included alums boku, CircleUp, Lending Club, and Wealthfront.

Alumni News– June 11, 2014

  • Finovate-F-Logo.jpgAmerican Banker looks at how BizEquity helps banks lend to small businesses.
  • Coinbase and Expedia.com partner to accept bitcoin for hotel payments.
  • Bank Innovation features TipRanks as 1 of 4 Israeli fintech companies tackling security and data issues.
  • The Currency Cloud Passes $5 Billion in International Payments Enabled in Two Years.
  • Market IQ wins spot in Barclays Escalator, a new, 15-week accelerator programme.
  • Monitise announces North American debut of Monitise Create, a mobile suite of innovation, design, and development services.
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.

Coinbase’s Acquisition of Kippt to Bring Usability to Bitcoin

Coinbase’s Acquisition of Kippt to Bring Usability to Bitcoin
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The news that bitcoin exchange Coinbase has acquired startup Kippt is one of the more positive stories to come out of the bitcoin community in recent weeks.

In an amount-undisclosed deal that consisted of stock and cash (but sadly, no bitcoin that we know of), Coinbase will be acquiring a company with which it already has a significant relationship. Members of the Kippt team reportedly have been working on branding for Coinbase, as well as developing a Coinbase app gallery.

Kippt’s reputation was built on its social bookmarking and messaging products. Both services will remain available, though there will be changes (such as the end of the paid Kippt Pro plan). Coinbase hopes to leverage the talent of Kippt to create a bitcoin that is friendlier to merchants and consumers alike.
In a blog post announcing the acquisition, Kippt co-founders Jori Lallo and Karri Saarinen wrote: “For the first time, designers and developers like us can now re-imagine the way financial transactions and products are designed and built.”
Fun fact: Coinbase and Kippt are members of the same 2012 Y Combinator class.
Founded in July 2012 and headquartered in San Francisco, California, Coinbase holds more than 1 million consumer wallets and enables bitcoin transactions for 28,000 merchants. The company specializes in removing exchange-rate risk from bitcoin transactions. This further reduces a source of friction for merchants and consumers using the virtual currency.
Coinbase is a recent Finovate alum, having debuted on the Finovate stage during the Spring show in San Jose last month. Video of the company’s demo will be available soon.

Finovate Alumni News– May 8, 2014

  • Finovate-F-Logo.jpgBoku partners with Deutsche Telekom to power the MNO’s payments offerings, provide it with a mobile app, and give customers the ability to pay for digital goods and services simply using their existing mobile phone account.
  • ProfitStars named among the 2014 Best Places to Work in Kentucky.
  • American Banker: Andera Acquisition to Bolster Bottomline’s Digital Banking Business.
  • Cachet Financial Solutions files initial registration statement with the SEC looking to raise $20 million through a public stock offering.
  • MasterCard Accelerator for European startups announces May 16 deadline.
  • Motif Investing raises $35 million in move toward wealth management market.
  • RevolutionCredit announces $10 million investment from Accion Venture Labs.
  • Coinbase’s acquisition of Kippt to bring usability to bitcoin.
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.

Coinbase Debuts Instant Exchange to Remove Volatility Risk for Merchants Accepting Bitcoin

Coinbase Debuts Instant Exchange to Remove Volatility Risk for Merchants Accepting Bitcoin
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This post is part of our live coverage of FinovateSpring 2014.

Next, Coinbase demonstrated how its Instant-Exchange feature removes the exchange rate risk for merchants accepting Bitcoin:
“Our instant-exchange feature offers bitcoin payments to merchants with zero exchange rate risk. As a merchant receives bitcoin payments throughout the day, they can instantly sell these bitcoins to Coinbase at a market exchange rate that was locked-in at the time of the customer’s purchase. 
At the end of each day, Coinbase will clear the USD sum total of all sales via ACH transfer. The merchant is therefore not exposed to bitcoin exchange rate volatility and will receive a dollar value, less our 1% exchange fee, that corresponds to the USD sale price of items purchased by bitcoin-paying customers.”
Presenting: Roger Gu (Bus. Dev. Manager) and Nahid Samsami (Bus. Dev. Manager)

Product Launch: February 2014
Metrics: Coinbase holds 1.1 million consumer wallets and enables 28,000 merchants to accept bitcoin payments. The company is funded by Andreessen Horowitz, Union Square Ventures, and Y Combinator.
Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B), through partnerships
HQ: San Francisco, CA
Founded: July 2012
Website: coinbase.com
Twitter: @coinbase

FinovateSpring 2014 Sneak Peek: Part 6

FinovateSpring 2014 Sneak Peek: Part 6

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Welcome to the finale of our FinovateSpring 2014 Sneak Peek series. If you’re just joining us, then you might want to check out the previous five installments of our Sneak Peek (see below). There’s no better way to get to know the entrepreneurs and innovators who will be demoing on the Finovate stage on April 29 and 30 in San Jose.

You can find out more about our upcoming event – including our new location and locale – on our FinovateSpring 2014 page here.

Today we wrap up the series with eight more companies, starting with transaction management specialist Avoka and ending with WePay, an innovator in risk analysis for merchants, crowdfunders, and software makers. In between, we’ll talk security and digital currencies, alternative lending and credit decisioning, credit card vaults and Insurance Buying 3.0.

Enjoy!

Avoka_lo_res_logo
Avoka TransactWEB – an Omni-Channel 2.0 customer transaction experience form the leaders in SmartForm & Transaction Management.
Features:
  • Omni-Channel 2.0 – Seamless crossover between channels in a single transaction
  • Integration with ID verification and signature services for maximum convenience
  • All delivered without programming
Why it’s great:
Avoka TransactWEB delivers an Omni-Channel 2.0 experience for account opening, loan origination, etc. without programming.
Presenters:
Phil Copeland, CEO and Co-Founder
Phil is responsible for the company’s business strategy and worldwide operations.
Jeff Kalicki, Account Manager
Jeff is comfortable presenting technology to all levels of business, as well as leading architecture discussions.

Coinbase_lo_res_logo

Coinbase is a bitcoin wallet and platform where merchants and consumers can transact with the new digital currency bitcoin.
Features:
  • The ability to debit customers for a more convenient checkout experience
  • The ability to set individualized merchant permission controls via API keys
  • The ability to use recurring billing
Why it’s great:
Coinbase offers innovative tools that allow merchants to accept bitcoin payments easily and securely.
Presenters:
Roger Gu, Business Development Manager
Roger leads payment partnerships at Coinbase. He previously worked in Strategy and Development at Visa and in Investment Banking at Marcum Cronus. Roger holds an A.B. in Economics from Princeton.
Nahid Samsami, Business Development Manager
Nahid previously worked as a senior product manager at Playdom, acquired by Disney Interactive. She began her career at Bain and Company and holds a degree in Economics from Stanford University.

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CUneXus’ unique lending platform integrates at all digital and physical touch points, delivering an omnichannel borrowing experience, proven to significantly increase loan volume and reduce acquisition cost.
Features:
  • Customers can easily access loans anytime, anywhere – with no loan application
  • Lenders enjoy increased product penetration, loan volume, and ROI
  • Simple integration with online and mobile banking
Why it’s great:
CUneXus helps lenders drive substantial loan volume, by providing customers a refreshingly simple on-demand borrowing experience across traditional, online, and mobile banking channels.
Presenters:
Dave Buerger, Co-Founder and President
Dave is a finance and marketing visionary who has been recognized by CUNA and CUES for award-winning strategies that have yielded record loan volumes and response rates.
Darin Chong, Co-Founder
Darin is an expert strategist and has been instrumental in the development of the company’s Comprehensive Pre-Screened Lending (CPL) strategy.

OnBudget_lo_res_logo

OnBudget develops PFM tools, Mobile Apps, and Bank Companion Cards that give banked consumers simple budgeting tools and banks a profitable way to monetize them.
Features:
  • Uniquely profitable prepaid product simplifies banked consumers’ budgeting needs
  • Auto learns users’ spending habits, suggests budgets
  • Analyzes spending trends, offers insights/savings opps to help users stay on track
Why it’s great:
OnBudget’s intuitive and interactive solution delights banked consumers by simplifying their budgets. It’s a bank companion card that provides real consumer value at no cost to the consumer.
Presenter:
Jim Collas, President and CEO
Jim is a personal computing pioneer with nearly 30 years of senior exec
utive experience in computers, prepaid cards, and consumer markets. He is a successful entrepreneur and visionary leader.

Spreedly_lo_res_logo
Spreedly is the independent credit card vault that works with any PCI end point API. We provide all the benefits of tokenization without gateway lock-in.
Features:
  • Quickly extend your business to non-gateway end point APS’s (hotel, ticketing, transportation, restaurants)
  • Automatically update lost/expired cards
  • One integration, 60+ gateways, 70+ countries
Why it’s great:
Spreedly gives you all the flexibility of having your own credit card vault without the headache of PCI compliance or building your own integrations.
Presenter:
Justin Benson, CEO
Justin specializes in scaling startups from concept to IPO/acquisition. He’s experienced in driving direct revenue and leveraging partnerships to achieve double-digit SaaS revenue growth.

Sureify_lo_res_logo
Sureify educates consumers on their life insurance options, helps them build a plan that’s right for them, and take the next steps to get covered.
Features:
  • Learn about life insurance from simple text, visuals, & videos
  • Unbiased, third-party source for life insurance education
  • Define needs and build the right plan for you quickly
Why it’s great:
Sureify is the only unbiased, third-party source for life insurance education online.
Presenters:
Dustin Yoder, VP of Business Development
Dustin leads strategy, product and business development. Loves talking with our customers, prospecting all possible channels, and relationship building in every part of our business.
Chris Cichon, Marketing
Chris drives marketing and customer experiences. Loves digital marketing and growth hacking; dabbles in front-end web development.

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True Link protects vulnerable seniors from predatory marketing and fraud.
Features:
  • Seniors are victims of $100bn/year in scams
  • Seniors are the largest, fastest growing market in the U.S.
  • True Link is the killer app for the 43 million people caring for their aging parents.
Why it’s great:
Everyone deserves a safe way to spend their money without having to worry about scams, fraud or spending mishaps.
Presenter:
Kai Stinchcombe, Founder and CEO
Kai is a data scientist and entrepreneur who created the True Link Prepaid Visa Card after discovering that his grandmother was the victim of several credit card frauds.

WePay_lo_res_logo
WePay enables marketplaces, crowdfunding sites, and business software makers to offer payment services to their customers without worry about risk or loss.
Features:
  • WePay’s Veda risk engine leverages big data to make better decisions
  • WePay’s Innovative Risk API collects risk data from platform partners
  • Veda analyzes social footprint to verify users
Why it’s great:
Through its proprietary Veda social risk engine, WePay gives platforms a flexible payment API that provides a great user experience while still taking on all their fraud risk and compliance burdens.
Presenter:
John Canfield, VP Risk Management
John leads all our risk strategy, processes and tactics at WePay. He holds a Masters and Bachelors in Electrical Engineering and Computer Science from MIT and an MBA from Stanford.