CUneXus Demoes Comprehensive PreScreened Lending Platform

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This post is part of our live coverage of FinovateSpring 2015.

CUneXus showed off cplXpress:

Our cplXpress platform allows lending institutions to empower their customers with perpetual loan approval across multiple product lines. This unique and timely solution grants consumers ongoing insight into their personal buying power, and immediate access to preapproved loan offers at every touchpoint. No loan application necessary. Our advanced risk assessment and pricing engine generates a highly personalized and targeted menu of offers based on each individual’s unique financial profile, then communicates these offers within the institution’s online banking, mobile banking, branch, call center, direct mail, and email channels. We are demoing a selection of new online and mobile interfaces, as well as unveiling our latest mobile document delivery, e-signature, and point-of-sale lending capabilities.

Presenters: CUneXus’s Dave Buerger, co-founder and CEO, and Darin Chong, co-founder and COO

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Product Launch: December 2013

Metrics: Founded by a dynamic group of seasoned ex-bankers, CUneXus is privately funded with headquarters 45 minutes north of San Francisco in beautiful Sonoma County. The company’s cplXpress lending automation platform was launched in 2014 and has generated over $100 million in consumer loans in its first nine months of service, a metric projected to grow exponentially in 2015. CUneXus was recently recognized as one of just ten companies to watch on KPMG’s global report of “The Best Fintech Innovators of 2014” and has been selected to participate in Silicon Valley’s renowned Plug & Play Fintech accelerator program for 2015.

Product distribution strategy: Direct to Business (B2B), licensed, white-label

HQ: Santa Rosa, California
Founded: October 2011
Website: cunexus.com
Twitter: @cunexus

FinovateSpring 2015 Sneak Peek: Part 1

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FinovateSpring 2015 launches next month on May 12 and 13. That gives us five weeks to review the 72 companies that will step up on stage in San Jose.

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We’ll be featuring seven companies twice a week in our Sneak Peek series. The first set includes:

This will be Finovate’s eighth conference in the Bay Area and our second year in San Jose. Interested in being among the first to see the newest fintech this spring? Pick up your ticket here to join us.


AlphaPaymentsCloudLogoAlpha Payments Cloud’s AlphaHub consolidates the payments world onto one platform enabling banks, merchants, MSPs and ISOs to access any payment type, any solution provider, anywhere.

Features:

  • Access every transaction-centric solution vendor
  • Consolidate all integrations to one platform
  • Mitigate risks and costs by orchestrating across vendor functionality

Why it’s great
AlphaCloudPresenter1The AlphaHub gives instant access to any payment type, any solution provider, anywhere in the world.

Presenter: Oliver Rajic, CEO
Rajic is a global business development leader and payments expert whose vision is bringing the payments world into the 21st century.
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CUneXusLogoCUneXus is one of just ten to watch on KPMG’s report of “The Best Fintech Innovators of 2014,.” CUneXus stands at the forefront of the transition to a new era of data-driven, on-demand lending and borrowing.

Features:

  • Perpetual Loan Approval
  • “One-Click” access to preapproved loans at every touchpoint
  • Integrated into leading online- and mobile-banking platforms

Why it’s great
CUneXus brings the “one-click” convenience and mobility consumers have come to expect, helping lenders maximize the value and profitability of existing customer relationships.CUnexusPresenter1

Presenters

Dave Buerger, Co-Founder, President & CEO
Buerger is an award-winning financial services marketer and strategist with a noteworthy record of achievement, spanning a diverse array of marketing mediums and industry verticals.
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Darin Chong, Co-Founder & COO
Chong draws from 17+ years of experience in consumer financial services with expertise in marketing, operations, and project management.
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DraftLogoDRAFT changes the way people view, think and act about investing by comparing your returns, fees and allocation to top-performing portfolios.

Features:

  • Track all of your investments in one spot
  • Side by side return, fee, and allocation comparisons
  • Obtain a blueprint showing portfolio gaps to help maximize returns and lower fees

Why it’s great
DRAFT has created a better investment benchmark by comparing real portfolios to one another. It’s simple, transparent, and community focused.DRAFTPresenter1

Presenters

Brad Lawler, President, co-founder
Lawler has 10 years’ experience in the financial services industry, including as a high-net-worth adviser at a risk-analysis software firm. He also spent time with a big-data infrastructure company.
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Jason St. Peter, CEO, co-founder
St. Peter has 15 years of experience in sales, marketing, and business development in the high-tech industry. Prior to DRAFT, St. Peter created and ran the Dell For Entrepreneurs program for Dell, Inc.
LinkedIn


FundAmericaLogoFundAmerica provides API-enabled escrow, payment processing, and securities compliance to portals engaged in technology-driven capital formation via the JOBS Act (506b/c, Reg A+, 4(a)(6) crowdfunding).

Features:

  • Easy-to-implement API and “Invest Now” buttons
  • View all data and events in the control panel
  • Ensure compliance with federal and state regulations

Why it’s great
FundAmerica provides the crowdfunding industry with the best and only technology-integrated compliance and back-office solution.

PFundAmericaPresenter1resenters

Scott Purcell, CEO, founder
Purcell is a leader in the crowdfunding industry with experience in both technology and securities.
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FundAmericaPresenter2Jonathan Self, President, CCO
Self-served as a compliance examiner at FINRA, and was a capital markets specialist at the Federal Reserve Bank of Atlanta.

Scott Andersen, General Counsel
Andersen was the deputy chief counsel at FINRA; enforcement director at the NYSE; and assistant attorney general for the state of New York.


SayPayLogoSayPay enables users to make or schedule bill payments instantly by simply speaking a one-time, secure “SayPay Code”—all without the need to sign in or remember passwords!

Features:

  • Eliminates late charges and interest expense
  • Billers get paid faster
  • Combines voice recognition, biometric voice authentication and mobile technologies into a seamless user experience

Why it’s great
SayPayPresenter1Financial institutions can re-use SayPay across the enterprise, for website sign-in, online purchases, P2P transfers, step-up authentication and more for optimal return on investment.

Presenter

Steve Hoffman, CEO, founder
Hoffman has 25+ years of experience in payments, digital banking, and authentication, and holds several patents for internet and mobile payment technologies.


StockviewsLogoStockViews is an online equity research platform that connects investors with independent analysts.

Features:

  • A meritocratic platform that pinpoints alpha generators
  • Identifies analysts with expertise relevant to the fund manager
  • Harnesses the wisdom of crowds to assist investment decisions

Why it’s great
Our product harnesses collective intelligence by identifying and isolating the opinions of analysts who consistently outperform the market.

StockViewsPresenter1Presenters

Tom Beevers, CEO, co-founder
Beevers is the CEO of StockViews. He was previously a fund manager at Newton in London. He holds a degree in natural sciences from Cambridge.
LinkedIn


TrueAccordLogoTrueAccord offers a machine-learning-based, automated, and friendly collection platform that effectively services the new age of financial services companies.

Features:

  • Adapts to consumer preference with new communication channels; increases satisfaction
  • Adapts to consumer behavior; increases recovery
  • Easy to audit and control; improves compliance

Why it’s great
Debt collection is ripe for disruption on the heels of alternative lending. TrueAccord is leading the market in rethinking this activity.

SametIMG1Presenters

Ohad Samet, CEO
Samet is head of analytics at Fraud Sciences; worked in new ventures at PayPal; founder at Analyzd; chief risk officer at Klarna; published writer, O’Reilly.
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SametIMG2Nadav Samet, CTO
Samet served as a senior software engineer at Google and contributed to several high-profile projects such as gmail, Google Flights, and more. Holds a masters in science in mathematics from Weizmann Institute of Science.
LinkedIn

Alumni News– January 27, 2015

  • Finovate-F-Logo.jpgHarland Clarke to use CUneXus’ cplXpress to enable automated, pre-approved lending to its customers.
  • With grant from Bill & Melinda Gates Foundation, Social Money to pilot CorePro in India to help underbanked.
  • Spreedly crossed the $50 million credit card transactions per month milestone in December.
  • TechCrunch: Prosper purchases American Healthcare Lending for $21 million.
  • Cachet Financial’s Mobile Money Platform integrates with ApplePay.
  • Check out FinovateEurope 2015 Sneak Peek: Part 5. We’ll see you there in two weeks.
  • Hara Partners lists PayStand as one of five ecommerce solutions for SMBs.
  • Tradeshift partners with Recruit Holdings, Japan’s largest staffing company, to solidify presence in Japan.
  • Navy FCU’s Visa Buxx App, powered by Cachet Financial Solutions, named winner in Paybefore Awards.
  • Authentify’s xFA available on Samsung’s Solutions Exchange, enabling two/multi-factor authentication on Samsung devices.
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 Alums Fill Ranks of KPMG’s Fintech Innovators for 2014

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Draw up a list of the top fintech innovators of 2014. Got it? Now tell me how many of your top 50 companies are not just impressive companies in their respective fields, but Finovate alums, as well.

If you are global accounting and consulting group, KPMG, then the answer is “more than half.”

Of the 50 companies recognized by KPMG in its 2014 review of top fintech innovators, 27 have demoed their technologies at Finovate conferences. And of that 27, 13 have won Best of Show at least once.
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The inaugural “50 Best Fintech Innovators” report is a joint venture between AWI Ventures KPMG Australia and the Financial Services Council (FSC). 
The companies chosen were selected based on four factors: total capital raised, rate of capital raising, degree of sub industry disruption, and “degree of product, service, customer experience and business model innovation.” 
Writing in an introduction to the report, AWI Limited CEO Ben Heap explained why fundraising played such a prominent part of the selection process.
“These assessment criteria reflect the fact that venture capital invested is a relevant measure of innovation which in turn fuels enduring competitive advantage,” he wrote. 
“Venture capitalists seek this enduring competitive advantage over and above everything else.”
Here’s a breakdown of Finovate alums in the list, in order of appearance, along with links to their most recent demo video. Boldface indicates Best of Show winner.
“Ones to Watch” 
See the full list of companies here.

Alumni News– December 11, 2014

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgMalauzai Software announces launch of its SmartMarketing program to promote mobile banking.
  • Azimo extends £1 money transfer service to India, Pakistan, Bangladesh, and Sri Lanka.
  • Information Week takes a look at mobile payment apps including Flint.
  • Mortgage Harmony rebrands as Rate Reset.
  • Contact Solutions, IDology, and Pindrop Security team up to Cut IVR Fraud.
  • Examiner.com: Dynamics‘ next-generation credit card features buttons to log-in PIN security code.
  • Lendio CEO explains how his company is fueling the American dream.
  • Prosper comments on Lending Club IPO, expects to top $9 billion in loans this year.
  • PayNearMe partners with Department of Health and Human Services to spread the word about healthcare.
  • Bluefin Payment Systems to provide its PCI-validated Point-to-Point Encryption (P2PE) Solution to Priority Payment clients.
  • Career Bliss lists PayPal, Intuit, and Google in the top 50 happiest companies in the U.S.
  • Lending Club launches IPO, shares rally 70% in early trading.
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– December 2, 2014

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgCompass Plus TranzAxis now supports Futurex hardware security modules.
  • Coinbase introduces USD Wallets, enabling users to store U.S. dollar balances.
  • TradeKing unveils new features for its new LIVE platform.
  • Forbes column on disruption in traditional money exchange features Azimo, TransferWise, and CurrencyFair.
  • CrowdFlower announces support for eight new languages and enhanced support for another four.
  • CEO and co-founder of Trustev Pat Phelan wins MSL Cork Business Person of the Year award.
  • Linqto, Crowd Curity, Xignite, and CUneXus win Future of Money & Technology Summit Startup Showcase.
  • TickSmith adds Amazon Web Services version of its financial big data platforms.
  • The New Daily features SocietyOne as a premium P2P lending option.
  • The Chicago Tribune considers Lending Club’s impending IPO.
  • Google Cloud Platform now PCI compliant, enabling developers to hold, process, and exchange credit card information.
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– August 20, 2014

  • Finovate-F-Logo.jpgCUneXus improves loan acceptance by 68% over 2013 for Educational Employees CU.
  • With Simple’s 2.0 mobile app update, users can send paper check payments via mobile.
  • ID Analytics names Daniel Rawlings as Chief Revenue Officer.
  • Essent Guaranty offering lenders access to rate quotes through an interface with D+H’s MortgagebotLOS.
  • ThreatMetrix selected as one of CIOReview100s Most Promising Technology Companies.
  • EyeVerify and Zumigo selected for Wells Fargo’s accelerator.
  • Expensify integrates with Uber’s API to launch SmartRides feature.
  • PayNearMe and SIMI partner to offer cash collection services to US government agencies.
  • Kony launches MobileFabric to Accelerate Speed of Delivering Great Enterprise Mobile Apps.
  • PayPal announces access to its One Touch mobile payment solution. Join PayPal in San Francisco for FinDEVr this fall.
  • Cartera Commerce unveils new website.
  • Wallaby Financial launches CardBase and The Card Guide, opening its credit card database to the public.
  • National Real Estate Investor features Realty Mogul CEO and co-founder, Jilliene Helman.
  • Forex Brokerz talks about the beta release of Darwinex’s social trading platform.
  • peerTransfer tops $1 billion in international education payments, announces 500th client.
  • Bloomberg.com features Venmo, Fiserv’s Popmoney, and Dwolla in column on Millennials and mobile payments.
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.

FinovateSpring: Behind the Scenes with CUneXus, ID.me, and Venovate

We’ve had a blast following up on the news buzz created by the 68 companies we saw demo at FinovateSpring 2014 last week in San Jose. Now we get to report on a few more details of companies that demoing at Finovate for the first time. 

Today, we’re taking a closer look at:

We’ll have further coverage in the coming weeks, so stay tuned!


What they do
CUneXus’ Perpetual Loan Approval product gives financial institutions a way to show borrowers a constant view their borrowing power across multiple loan products. It pre-approves the customer instead of simply providing a prediction of what the loan payment and terms may be, if the loan is accepted.
This constant pre-approval can create stickiness by keeping the lending institution in the top of the consumer’s mind when they are ready to make a decision about a loan or credit card. And, since the approval automatically changes with the consumers’ financial standing, it is a more efficient way to customize loan promotions.

Stats

    • FI client size ranges from $400 million to $2 billion
    • Launched in December 2013
The experience
The web and mobile screenshots below show the variety of offers the end consumer sees. The platform shows everything from credit cards to auto loans, to personal loans. Since the platform is dynamic, it will change the offers depending on the consumers’ financial situation. 
For example, if the consumer accepts the offer on the car loan, the platform will automatically rescind the offer on the RV or motorcycle loan.
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CUneXus also uses geolocation to target the end user when it matters– at the point of their decision. For example, after a user has been standing at a car lot for longer than 5 minutes, FIs using CUneXus can send them a push notification reminding them of the loan offer for which they are pre-qualified.

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Since the system pre-approves users, activating the offer is easy:
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After selecting the type of loan and amount, users need only to enter their phone number and when they would like to talk to an agent. To speed the process, they have the option to take a picture of a recent pay stub as proof of income.
Beyond creating more borrower transparency, CUneXus makes loan distribution more efficient for the lending institution. The automation of the loan offer, combined with carefully timed push notifications, can drive more revenue from online and mobile banking.

What they do
ID.me works a bit like PayPal for affiliate groups such as students or veterans. Its network proves that the user is affiliated with the group so that merchants can target these specific groups with discounts and rewards, without the hassle of making them prove their identity.
At FinovateSpring, ID.me showed how its identity verification can be used at the physical point of sale, as well as online.
Stats
    • Financing: $16M
    • Federal Grants: $2.8M
    • Employees: 29
    • Revenues (Run Rate): $4M
    • Registered Users: 475,000
The experience
The user selects their affiliate group and adds the required information to verify their affiliation. In the screenshot of the web interface below, Blake has already verified his affiliation as an army veteran. ID.me also gives him the option to verify himself as a student or first responder to receive additional merchant benefits. 
Once he is verified, he is prompted to link a credit card with his account.
 
IDme02DeskTopLink
After the user is verified as a member of the affiliate group and has linked their card, they can receive rewards at the physical point of sale, as well as online.
The screenshot below shows the iPad interface of a brick and mortar merchant’s POS system. After swiping the credit card that he previously linked to ID.me, the user (Blake) automatically received the merchant’s discount for veterans.
Since this merchant has card-linked rewards enabled, the transaction was seamless. Blake did not need to know that the merchant offered special discounts for veterans and the merchant did not need to ask Blake for proof that he is a veteran.
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Below is a snapshot of some of the more than 70 merchants that ID.me is partnering with. CEO Blake Hall advised me to keep an eye out this summer, when ID.me will release news of a slough of new big-name merchants.
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What they do
The Venovate (venture + innovate) platform seeks to make the investing process more transparent, accessible, and efficient. It has a two-pronged approach:
1) For investors 
It curates alternative investment opportunities and serves as a broker so accredited investors can directly invest in them. Venovate carefully vets the list to ensure the opportunities are compliant and have a good likelihood of positive returns.
2) For fundraisers
The platform enables alternative investment funds and private companies to raise funds from $200,000 and up on its platform. Venovate verifies the accreditation of investors before allowing them to invest (non-accredited investors can still join, but are in view-only mode; they are not allowed to invest).
The online platform makes it easy for both parties with search capabilities and e-signature functionality.
Stats
    • Can reduce the fundraising process from 10 months to 10 weeks
    • Launched in April 2014 at FinovateSpring
The experience
When creating their profile, the investor selects the type of investments they are interested in, as well as the dollar range and the number of investments they are willing to make per year. Additionally, the platform shows the investor’s accreditation status and investment history in the upper right hand corner.
This is useful for fundraisers, who are given full visibility to these details before deciding who they will allow to invest in their project.
2 - Venovate - Investor Profile
Venovate’s company directory serves as a resource for investors to search companies seeking investment. It provides high-level information on companies, with an option to drill down into more specific detail.3 - Venovate - Company Directory
Each fundraising company has its own profile that provides more details for interested investors. The deal profile below shows relevant information about the deal. It covers basics such as description and minimum investment amount. It also shows the valuation cap, the number of current investors and the number of users currently watching the investment.

4 - Venovate - Deal Profile

Venovate announced its public beta at FinovateSpring, along with an investment from Studio 9+, an accelerator program based in Silicon Valley.


Stay tuned for more behind the scenes features next week.

CpIXpress from CUneXus Shows Customers Preapproved Loan Offers at Multiple Touchpoints

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This post is part of our live coverage of FinovateSpring 2014.


Then, CUneXus demonstrated its perpetual loan-approval product, cpIXpress:
“Our cplXpress product suite allows lending institutions to empower their customers with perpetual loan-approval status across multiple consumer-lending product lines. The solution grants customers ongoing insight into their personal buying power, with the ability to review and instantly accept preapproved loan offers at every touchpoint. 
No loan application is necessary. Our advanced risk-based assessment and pricing engine generates a highly personalized and targeted menu of offers based on each individual’s unique financial situation and profile. Offers are communicated within the client institution’s online, mobile, branch, call center, direct mail, and email channels. We are demoing a selection of online banking and mobile user interfaces.”
 
Presenters: Dave Buerger (President & Co-Founder) and Darin Chong (Co-Founder)
Product Launch: December 2013
Metrics: Founded by a dynamic group of seasoned credit union professionals, CUneXus is privately funded with headquarters in California’s beautiful Sonoma Wine Country. Our team and client list are growing quickly with FI client asset sizes ranging from $400M to over $2B.
Product distribution strategy: Direct to Business (B2B), through other fintech companies and platforms, licensed
 
HQ: Santa Rosa, CA
Founded: October 2011
Website: cunexus.com
Twitter: @cunexus