Finovate Alumni News

On Finovate.com

  • “Pamela Joseph Tapped as New President, COO at TSYS
  • “Wells Fargo to Deploy Biometric Authentication Technology from EyeVerify

Around the web

  • PYMNTS reports: Worldpay transactions up 14% post-IPO.
  • Mitek launches mobile deposit in the United Kingdom with other countries to follow.
  • Dwolla’s Jordan Lampe contributes TechCrunch article about the state of faster payments in the United States.
  • Fiserv adds new features to its Unified Wealth Platform.
  • Jack Henry’s ProfitStars division unveils its ECS RDC conversion technology.
  • Betterment to extend account aggregation to all its customers.
  • BBVA Compass introduces Sandra Lee as brand ambassador to its BrightFutures platform.
  • Zooz reports that Gett, an on-demand taxi service, now routes global transactions through its 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.

Finovate Alumni News

On Finovate.com

  • “ThreatMetrix Launches Digital Identity Graph”

On FinDEVr.com

Around the web

  • Markit to deploy smart automation technology from WorkFusion.
  • Ethoca teams up with Pegasystems to help fight ecommerce fraud.
  • Michigan First Credit Union ($764 million in assets) picks Insuritas to open and run turnkey insurance solution.
  • Finance Magnates shines on Credit Karma and BillGuard in its Fintech Spotlight.
  • Check Point launches Check Point R80 to help consolidate the security environment.
  • Coinbase now lets users buy bitcoin instantly with a debit card.

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.

Credit Karma Launches New Mobile App Design

CreditKarma_homepage_Feb2016

Maybe it’s the change in seasons. Just days after Paypal announced it would redesign its iOS and Android mobile apps, Credit Karma reports a new design for its mobile app.

CreditKarma_newapp_1Calling the redesign a “major reimagining,” Jonathan Chao, mobile product manager for Credit Karma, noted that user behavior strongly influenced the new look and feel of the app. “It has some of our most direct, specific and proactive product features to date, and we’re excited that we can finally show it off to our members,” Chao said.

What do members get with the redesign? Credit score information – letting users know of any changes in their score and likely reasons for the change – will now be available directly from the home screen. Also from the home screen, members can run credit simulations (courtesy of Transunion) to see how factors like reducing their overall credit card debt can positively affect their credit score.

The new app also includes opt-in credit monitoring via push notification, and lets members compare and shop for new credit cards or loans from Credit Karma’s new credit card and loan marketplace.

Credit Karma’s new app is available on iOS and Android.

CreditKarma_newapp_2Credit Karma’s new app redesign isn’t the only news the company is making in 2016. In January, Credit Karma announced the acquisition of Snowball, a debt-repayment app. The company also reported in January that it had surpassed 50 million users managing $3 trillion in debt.

Founded in 2007 and based in San Francisco, Credit Karma demonstrated its Debt Manager solution at FinovateSpring 2009. The company has raised more than $368 million in funding, giving the company a valuation of $3.5 billion. In December, Credit Karma won a spot on Fast Company’s 2015 Silicon Valley’s “Nice” list, and in November, Credit Karma celebrated giving out its billionth free credit score.

 

Finovate Alumni News

On Finovate.com

  • Credit Karma Unveils New Mobile App Design”
  • “United Capital Acquires FlexScore

Around the web

  • Striata launches Secure Document Repository solution in the U.S. marketplace.
  • Credit Karma launches redesigned iOS and Android apps.
  • Vantiv Integrated Payments announces the second phase of its Security Pays initiative.
  • KPMG recognizes ebankIT as one of its top 10 “Emerging Stars” in the global market.
  • CoinDesk looks at Dwolla and its new focus on the blockchain.

This post will be updated throughout the day as news and developments emerge. You can also follow alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • Mitek Partners with Harland Clarke to Improve RDC Security”
  • Pindrop Raises $75 Million for Phone-printing Authentication”

Around the web

  • Gate City Bank ($1.9 billion in assets) chooses DNA core account processing platform from Fiserv.
  • Powered by FIS, the Venture Center is now accepting applications for its VC Fintech accelerator.
  • Venmo adds in-app merchant payments.
  • Algomi wins Risk Magazine’s “Trading Technology Product of the Year for the Buy-Side” for a second year in a row.
  • Experian enhances Small Business Credit Share program.
  • Credit Karma surpasses milestone: serves 50 million users who use Credit Karma to manage $3 trillion in debt.
  • Check Point releases new hardware to address cyber security and protection.

This post will be updated throughout the day as news and developments emerge. You can also follow alumni news headlines on the Finovate Twitter account.

Credit Karma Thinks Mobile with Snowball Acquisition

CreditKarma_homepage_Jan2016

“Snowball” isn’t just a strategy for repaying debt. It’s also the name of the first acquisition by personal finance and credit management platform, Credit Karma.

“We have tens of thousands of data points on a particular customer at any time,” Credit Karma CTO Ryan Graciano told TechCrunch last week. “But sorting through all that … is a very tricky thing to do, especially in a way where you’re not overwhelming the user with spurious notifications.”

And that’s where Snowball comes in. The app was developed in 2014 to aggregate multiple Android-based messaging apps. Credit Karma plans to use the technology to deliver actionable mobile notifications, and they like the fact that the platform is native to Android. “Android is a key platform for us,” Graciano said. “And these guys have a really amazing experience on Android.”

CreditKarma_stage_FS2009

From left: Credit Karma CEO Ken Lin, founder, and VP Nichole Mustard, business development, demonstrated Credit Karma’s Debt Manager platform at FinovateSpring 2009.

Five members of Snowball’s six-person team will join Credit Karma, including Snowball CEO Anish Acharya who will serve as senior director for product management. Snowball had raised $2.3 million in funding from investors including Felicis Ventures, First Round Capital and Greylock Partners.

Founded in July 2007 and headquartered in San Francisco, California, Credit Karma specializes in providing credit management information, including free credit monitoring, credit scores, reports, and email alerts. The company has raised more than $368 million in financing, including its most recent $175 million Series D round in June 2015 . Credit Karma was named to Fast Company’s 2015 Silicon Valley “Nice” list, and was recognized by Glassdoor as one of the “Best Places to Work in 2016” in December, the same month the company joined 19 fellow Finovate alums on the first Forbes Fintech 50. In November 2015, Credit Karma celebrated giving away its billionth free credit score since launching in 2008.

Credit Karma demonstrated its Debt Manager platform at FinovateSpring 2009.

Finovate Alumni News

On Finovate.com

  • Credit Karma Thinks Mobile with Snowball Acquisition
  • “Finovate Debuts: Urban FT Brings a Social PFM to Prepaid Cardholders”

Around the web

  • Let’s Talk Payments features several Finovate alums in its look at fintech in Europe. Remember FinovateEurope 2016 is just over one month away.
  • American Banker highlights Global Debt Registry in a review of companies tackling the problem of debt collection.
  • WealthForge publishes its 2015 Year in Review in infographic form.
  • American Banker recognizes CBW Bank’s Suresh Ramamurthi as Innovator of the Year.
  • Suffolk Bancorp in N.Y. Names Fiserv Core Processor (paywall).
  • Zopa reviews 2015 stats and discloses 2016 plans.

This post will be updated throughout the day as news and developments emerge. You can also follow alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • “2015: A Year in Finovate Alumni Mergers and Acquisitions”

Around the web

  • TechTarget interviews Vantiv CSO Kim Jones on “creating a culture of security.”
  • Moneystream announces plans to close its doors in February 2016.
  • Nostrum Group earns a spot in Deloitte 2015 Technology Fast 500 for the EMEA region.
  • Zopa CEO Jaidev Janardana explains why 2016 will be the year P2P lending hits the mainstream.
  • Holvi is featured in this look at the top 10 startups in Finland.
  • TopFunded interviews BankersLab CEO Michelle Katics. See BankersLab at FinovateEurope 2016 in London in February 2016.
  • Credit Karma wins a spot on Fast Company’s 2015 Silicon Valley “Nice” list.
  • Emerging Prairie looks at how a local RIA is integrating Motif Investing into his business.
  • SwipeStox launches new features. Check out SwipeStox at FinovateEurope 2016.
  • Personal Capital Debuts First eBook: A Better Financial Life.
  • Backbase awarded accolades in Gartner report, Critical Capabilities for Horizontal Portals. Backbase will demo at FinovateEurope 2016.

This post will be updated throughout the day as news and developments emerge. You can also follow alumni news headlines on the Finovate Twitter account.

 

 

Finovate Alumni News

On Finovate.com

  • “FinovateSpring 2016: Last Chance for presale tickets!”
  • “Exit Stage Right: Trustev sells to TransUnion for $44 Million”
  • “CBANC Network Garners $4 Million in Series B Funding”

Around the web

  • Kony launches Mobile Field Service solution to make field workers mobile.
  • Glassdoor recognizes Credit Karma as one of the Best Places to Work in 2016 in Employee Choice Awards.
  • KPMG and Taulia partner to help organizations improve supplier relations.
  • Prosper launches new investor API platform, as well as developer documentation site.
  • SayPay Technologies and MaxMyInterest win Acceleration Awards in the UBS Future of Finance Challenge.
  • Crains New York Business highlights MaxMyInterest as a New York fintech startup.

This post will be updated throughout the day as news and developments emerge. You can also follow alumni news headlines on the Finovate Twitter account.

20 Alums Make the First Forbes Fintech 50

ForbesFintech502015

There’s more to the Forbes Fintech 50 list than just an awesome logo featuring George Washington wearing wrap-around shades. Forbes compiled the list by soliciting information from 300 startups, then interviewing more than 150 CEOs, founders, and industry experts. To make the cut, companies were required to have operations in the U.S. and a viable product.*

Simply put, Forbes describes the companies on the list as “small firms destined to have a big impact on your financial future and possibly upend your portfolio.”

This year, 20 Finovate and FinDEVr alums made the cut:

Algomi

  • Founded: 2012
  • HQ: London
  • Funding: $30 million
  • Customers: 14 large banks and 140 buy-side firms
  • FinovateFall 2014 demo

Betterment

Braintree

Chain

Credit Karma

HelloWallet

  • Founded: 2009
  • HQ: Washington, D.C.
  • Exit: Purchased by Morningstar in 2014 for $52.5 million
  • FinovateFall 2015 demo

Kensho

LearnVest

  • Founded: 2009
  • HQ: New York City, New York
  • Exit: Purchased by Northwestern Mutual in 2015 for $250+ million
  • FinovateFall 2013 demo

Motif

Personal Capital

Plaid

Prosper

Quantopian

Ripple

Simple

TransferWise

TrueAccord

Vouch

Wealthfront

Xignite


*While the list excludes financial giants, Forbes included startups acquired by larger companies but operating independently.

Finovate Alumni News

On Finovate.com

  • “Finovate Alums Earn Spots Among Finalists in UBS Future of Finance”

Around the web

  • Arxan announces Cyber Security scholarship program.
  • PYMNTS.com interviews Adam White, Coinbase VP and product manager, on the “killer app” phase of bitcoin.
  • CNBC looks at Fastacash and the launch of its remittance app, XOPO.
  • CenturyLink adds former U.S. Senator Mary Landrieu to their board.
  • Banking CIO Outlook magazine features Praesidio.
  • Credit Karma gives away one-billionth free credit score since its 2008 launch.
  • Kony appoints Stephen J. Rohleder, former Accenture COO, to its advisory board.
  • Xero pilots program to allow users to file their GST returns.
  • Bloomberg: Banks Catching Up with Amazon Turn to Iceland Startup Meniga for Ideas.

This post will be updated throughout the day as news and developments emerge. You can also follow alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • “Finovate Debuts: DarcMatter Shines a Light On Alternative Investments”
  • “BBVA’s Wallet App Tops One Million Downloads; Goes Live in Turkey This Week”

Around the web

  • Magnify CU partners with Insuritas to launch an insurance agency.
  • Worldpay employees evaluate use of finger-vein technology to authenticate payments at the POS without need for a card.
  • mydesq selects Encap Security to boost productivity and engagement for wealth managers.
  • Let’s Talk Payments interviews Brent Warrington, Hyperwallet CEO.
  • MasterCard announces Ed McLaughlin as new chief information officer.
  • VentureBurn highlights Entersekt: SA’s fintech gem making it safe for millions to bank, shop online.
  • Algomi’s Honeycomb named “Product of the Year” and “Best Buy-Side Newcomer” in Waters Technology’s Buy-Side Technology Awards.
  • The Next Web profiles BioCatch, a biometric security specialist.
  • FusionWire looks at ways that banks can use Matchi to build relationships with fintech startups.

This post will be updated throughout the day as news and developments emerge. You can also follow alumni news headlines on the Finovate Twitter account.