Credit Sesame Launches Financial Fitness Indicator

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Second up, Credit Sesame launched a solution to give users a comprehensive view of their financial situation:

“Credit Sesame introduces a new financial dashboard and Financial Fitness Indicators that provide the external context a user needs so they can fully analyze and optimize their financial situation. 

The new capabilities will give users a comprehensive assessment of their individual financial situation, analyze current market trends and provide action plans to capitalize on them. It provides users with valuable insight into the successes of their peers so their patterns can be emulated. The new Financial Fitness Indicators sum up all of consumer’s credit and debt information into visual components that an individual can use to determine their overall financial fitness.”

Product Launched: September 12, 2012
HQ Location: Sunnyvale, CA
Company Founded: January 2010
Metrics: $19.34M raised, 20 employees
Twitter: @CreditSesame
Finovate demo videofinovate.com/fall12vid/ (demo video will be posted next week)
Introducing Adrian Nazari (Founder & CEO) and Linden Kohtz Garcia (Public Relations Manager)
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FinovateFall 2012 Sneak Peek: Part 2

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Here’s part 2 of the sneak peek of the companies that will demoing at FinovateFall on September 12 and 13 in NYC. Each company provided a short summary of the innovation they will debut on stage. We published 20 last week and we will complete the preview next week.

Don’t miss the opportunity to experience the hottest innovations in financial technology. Get your FinovateFall ticket here

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Stock Panorama brings what matters to an investor’s portfolio – combination of 
Thumbnail image for aSparkLogo.jpg“relevant and key” market data, analyst sentiment and social intelligence to your mobile device. Today, you seek this information. Stock Panorama reduces the homework and brings it to you when it matters so that you are never surprised!
The app “follows” key events and information for your stocks and integrates them into your personal calendar – so you can see what’s ahead for your investments. You get the right information anywhere, anytime.
Innovation type: Mobile, PFM, sales


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Backbase Launchpad is a new and unique banking experience, based on Backbase Portal technology. 
Launchpad offers the latest innovations and best practices in user experience design and cross-device customer journeys. The goal of Launchpad is to drastically bring down time-to-market for online and mobile projects.
Launchpad is immediately optimized for use on regular browsers, tablets and smartphones and is entirely manageable by the e-business and digital teams using the Backbase Portal Manager. Launchpad is seamlessly integrated with the Backbase App Center and includes apps such as: Accounts Overview, Payments, PFM, Stock Portfolio Manager, Message Center etc.
Innovation type: Communications, marketing, mobile, online

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Bolstr is the first crowdfunding platform focused exclusively on main street small businesses and the only platform able to legally operate pre-JOBS Act. 
Bolstr’s innovative platform empowers communities to invest in local, small businesses. We believe that local investment is the key to economic growth. Through Bolstr, we have created a marketplace where individuals can invest in and support the local small businesses that make their communities home.
Innovation type: Small business

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Cachet’s patent-pending CheckReview helps financial institutions identify potential check fraud with the ability to view and validate the check image in real time. In the past, financial institutions could only view a check image after it had been cleared for deposit. By allowing access to the images before clearing, Cachet gives clients greater control in mitigating check fraud.
Innovation type: Back office

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Previously, when offering new financial products and services, the only two options available were to buy or build. You’ve tried buy, but now your business structure can’t sustain innovation and integration is an absolute nightmare. You’ve tried build, but the industry moves quickly and you can no longer keep up. Both options cost a fortune in maintenance. Now there is a third option. 
Open Development Banking Platforms are the new kid on the block and are promising to be transformational for the financial services industry. Let us show you why.
Innovation type: Back office, cards, payments

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Personal finance cannot be properly assessed in a vacuum. Credit Sesame will introduce its new financial fitness indicators, designed to help a user fully understand and optimize their individual financial situation. 
Users can take advantage of current market trends and identify financial successes of their peers to better their financial future, preventing consumers from leaving money on the table by identifying ways to grow their wealth.
Innovation type: Identity, lending, PFM

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Dashlane’s mobile apps enable instant checkouts, registrations, and logins universally across the web without any merchant-side integration. This is powered by proprietary real-time semantic analysis of webpages and a super-secure, locally-encrypted personal data vault. 
Its disruptive apps allow consumers
to conduct keyboard-less transactions on any website from their mobile devices – a critical game-changer on a device that lacks a keyboard. Mobile shopping cart abandonment is over 90% today. Its goal is to slash that down and unlock mobile commerce at scale with a product that is simple, secure, and universal.
Innovation type: Marketing, mobile, payments

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Customers are becoming increasingly integrated with their financial institutions. ACH payments are up about 5% each year. Online and mobile banking continues to rise and nearly two-thirds of online customers are using bill pay. Yet, this integration leaves consumers feeling trapped. 
In a recent Consumer Reports survey, 63% of respondents said concerns about transferring automatic payment and deposits were keeping them from switching banks. Are you prepared to reach this highly integrated customer base? The Switch Is On!
Innovation type: Online, payments, sales

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Emida’s Mobile Wallet (CAT) allows consumers to apply cash to their virtual mobile account without requiring an existing bank account or credit card collateral. Account holders can load value to their Cash and Transact account and then transfer cash or pay for goods and services with anyone, anytime, from anywhere. The Cash and Transact vision is to create a borderless community connected by transactions via the Cash and Transact mobile wallet.
Innovation type: Mobile, payments, PFM

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The U.S. is moving to EMV (Chip & PIN) no later than 2015 meaning the biggest overhaul of payment infrastructure since the introduction of the plastic card.
Handpoint presents a mobile payments platform for developers. It´s simple and secure and allows developers to easily add EMV payments to their applications and get paid for transactions made through their apps. The platform can be white labeled to larger partners, e.g. acquirers and MNOs so they can offer branded mobile POS solutions.
The platform erases all PCI issues, even for large merchants, by using state of the art security measures including Point-to-Point encryption.
Innovation type: Mobile, payments, security

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Ignite Sales is launching the world’s first Bank Product Concierge which will change the way retail banks are able to sell financial products consistently to consumers and to manage their branch network. The solution is turning bank branches, call centers and websites into account opening machines, helping them easily and cost effectively reach their customers to upsell and cross-sell products consistently across channels. 
The Concierge Analytics Dashboard, the first in the industry, provides the only way for bank executives to determine what products should be sold based on eligibility data.
Innovation type: Marketing, online, sales

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Story of My Finances is a completely new approach in digital financial customer service. It takes online banking and PFM to the next level of mass retail financial planning and advice. 
Stories are customer-driven financial life processes, such as “How to spend less”, “Prepare for a rainy day”, “Buy a home” or “Retirement planning”. Stories help end-customers to get financially fit and to have a peace of mind. Stories are the missing link between everyday people and financial products. We believe that we can improve people’s financial life by licensing our white-label technology to financial institutions.
Innovation type: Online, PFM, sales

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Remember the last time you refinanced your mortgage? Or was it so painful, time consuming and costly you’d like to forget it? Imagine if your FI let you click a button on a website and lower your rate with no appraisal, credit or income check, $0 fees added back to your loan and not starting over with a new 30 year term. 
Mortgage Harmony Corp., a financial services company, will demo web-based software which FIs can use to offer a consumer-initiated rate, resetting mortgage with a patented compensation model for their originators. (It’s actually more advantageous for them, too.)
Innovation type: Back office, lending, PFM

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Payfone is the remote mobile commerce company that solves mCommerce checkout by linking mobile identity with the payment process to provide merchants with the easiest, fastest and most secure mobile checkout possible. 
Because it authenticate
s through the bank and carrier network, Payfone mCommerce Service requires no changes to backend systems, no new payment mark and nothing for consumers to download or install.
Innovation type: Identity, mobile, payments

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Today, the people with the least amount of money are charged the most to pay bills and get checks. Plus, they have to jump through more hoops. PreCash Flips that model with mobile. 
Come learn about Flip Money, the first viable mobile app for underbanked consumers with immediate check deposit and free bill pay transactions.
Innovation type: Mobile, payments, PFM

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Imagine a world where, as a consumer, you can use things you already have to enhance your online and mobile experience (your smart phone, bank card, tablet or PC). Imagine a world where, as a bank card issuer, you can minimize card-not-present fraud and provide value-added services based on strong authentication, to your consumers and commercial partners. 
Imagine a world where, as a merchant, you can sell to your clients through extended channels, securely, and with little risk of card-not-present fraud. And imagine a world where online service providers such as governments can actually transact with their constituents after ascertaining their identity, while still transacting anonymously.
Innovation type: Identity, payments, Security

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Segmint’s breakthrough analytics anticipate real-time consumer spending patterns and help FIs deliver a personalized mix of cross-sell and up-sell offers on their public and private websites. 
Segmint’s new and highly-advanced One Button application allows FIs to create customized online product and service campaigns in under a minute – automatically targeting the offer, creating a banner and assigning website delivery locations. With analytics that refresh daily, this One Button application empowers FI marketers to achieve unprecedented speed-to-market and deliver highly targeted cross-sell and up-sell campaigns while increasing campaign ROI.
Innovation type: Banking products, marketing, online

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Thomson Reuters is pleased to introduce their new App Store solution that enables access to the latest innovative capabilities and tools for use across the digital enterprise. 
The Thomson Reuters solution enables financial institutions and third party developers to effortlessly create pioneering market monitoring and investing apps. By seamlessly integrating the combination of Thomson Reuters content assets with a firm’s customer account data and other data sources, Thomson Reuters is helping institutions leverage the providers of financial insight to deliver a differentiated experience for their customers while lowering both development costs and time to market.
Innovation type: Investing, mobile, online, PFM

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Truaxis understands that Big Data is a profitability gold mine for banks if properly gathered, interpreted and acted upon. With its Profitability Analytics module, StatementRewards lets banks easily reach their most profitable customers and create campaigns to further improve customer value and loyalty.
Innovation type: Cards, rewards

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Data is power. Whether you’re managing personal finances or running a business, the right data and tools enable the right decisions. Good data informs, educates, projects, and even anticipates future actions. Who doesn’t want a crystal ball? Yodlee brings data to life. 
At Finovate, you’ll see what that means for Pete, a small business owner running a successful exotic automotive parts business. Parts is parts? Not in our world! Do you have the (data) power? Come find it at Finovate! Yodlee. 
Innovation type: Online, PFM, small business
Stay tuned next week for another sneak peek of FinovateFall 2012 presenting companies. 

Second Quarter 2012 Funding for Finovate Alumni: Over $120 Million Raised

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This quarter’s funding of over $120 million closely matches quarter 2 of last year, when Finovate alumni raised approximately $124 million.

Meanwhile, compared to last quarter’s $150 million, Finovate alums pulled in around $30 million less this quarter.

Here’s the quarter 2 summary for 2012:

April — $2.5 million raised by 1 company

May — $55.5 million raised by 5 companies

June — Over $62 million raised by 8 companies

Note: Funding that companies received before they demonstrated at Finovate was not counted. If you know of any funding that is not on this list and should be, please send the name of the company along with a link to the funding information to julie@netbanker.com and we will add it.

Finovate Alumni News– July 27, 2012

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgSocial Lending Network considers the futures of Lending Club & Prosper.
  • Continuity Control receives remaining $1 million of its $2 million series B funding round.
  • Credit Sesame announces the launch of its new Android App. Come see the live demo of their newest at FinovateFall.
  • SecureKey appoints Charles Walton as new CEO.
  • Business Insider names Tuition.io as a creative idea to help manage student loans. Come see their live demo at FinovateFall.
  • SecondMarket names former U.S. Congressman Scott Murphy to Board of Directors.
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 Sesame Scores $12 Million in Series C Funding

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Credit- and debt-monitoring service Credit Sesame, announced today that it raised $12 million in Series C funding from the following investors:

    • Globespan Capital Partners 
    • Menlo Ventures
    • Inventus Capital

The round brings Credit Sesame’s total funding to almost $20 million and is intended to help the company expand its customer base.

Credit Sesame has already seen a lot of growth since it launched in April of 2010: 

    • Oversees more than $22 billion in consumer debt
    • Finds $175 million a month in savings for users
    • Almost half frequent the site 2- 3 times per month   
    • Revenue growth has quadrupled quarter over quarter

To learn more about Credit Sesame, watch its FinovateFall 2011 demo.

Finovate Alumni News– June 11, 2012

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgTagit wins coveted Emerging Enterprise Award 2012.
  • BlogTalkRadio talks to Kathryn Petralia, COO & Co-founder of Kabbage.
  • Offermatic alters business model, no longer pursuing card-linked offers.
  • Chicago Tribune looks at Future Advisor and Betterment as two inexpensive investing platforms.
  • BBC news reports Zopa has lent more than £200m since it started in 2005.
  • Credit Sesame Scores $12 Million in Series C Funding.
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 10, 2012

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgCredit Karma is moving its headquarters to San Francisco’s financial district.
  • Linkable Networks is listed as 1 of 5 startups you should follow.
  • Tablet PC review lists Wikinvest Portfolio as one of the best iPad apps for tracking Wall Street stocks.
  • AOL Daily Finance names HelloWallet as 1 of 5 money-smart apps for business travelers.
  • UNC’s Kenan-Flagler Business School turns to Ping Identity to solve identity management complexity.
  • Daily Herald looks at Credit Sesame.
  • Kony Solutions appoints Harold Goldberg as CMO.
  • The Bellingham Herald recommends using Expensify to organize your expenses for tax time. Come see the live demo at FinovateSpring next month in San Francisco.
  • Scotsman covers UK P2P company, Zopa.
  • CNN Money lists SecondMarket as 1 of 8 crowdfunding sites to watch.
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 2, 2012

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgFiserv wins Celent’s XCelent Award for enterprise-wide compliance solutions.
  • USA Today Money columnist recommends TradeKing & Zecco as platforms for investing in stock.
  • Productive Web Apps features CoverHound.
  • The Seattle Times discusses the benefits of BillGuard.
  • Braintree’s payment gateway available for Magneto users.
  • Prosper adds 13 new loan categories for borrowers.
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 5, 2012

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  • The Washington Post lists Kabbage as an alternative source of funding to bank loans.
  • Identity Theft 911 receives a 2012 International Stevie Award & an Excellence in Financial Literacy Education award.
  • Dwolla launches update to fix accidental transfers.
  • Silicon Republic profiles CurrencyFair CIO David Christian.
  • Main Street profiles Credit Sesame CEO Adrian Nazari.
  • American Banker reports BancVue sells credit card arm to First Arkansas.
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 Sesame Launches Mortgage Comparison Tool

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Yesterday, California-based Credit Sesame launched a mortgage comparison tool to help consumers identify their best loan options.

How it works:

  1. The user provides information about their current mortgage, property, and income.

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  2. The tool shows the user options for different loan types at various interest rates.

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  3. The user is provided the option to contact lenders for different refinancing options.

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The tool takes into account:

    • Mortgage type
    • Rate
    • APR
    • Closing costs
    • Points
    • Fees
    • Amortization schedules 

To learn more about Credit Sesame, watch its FinovateFall 2011 demo.