Alumni News– August 21, 2014

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgAmerican Banker takes a look at the new Wells Fargo Startup Accelerator, with alums EyeVerify and Zumigo in the inaugural class.
  • Check out our first FinDEVr Preview, featuring Yodlee Interactive. Join Yodlee at FinDEVr in San Francisco this fall.
  • The Paypers spotlights BioCatch and the company’s cognitive science-based biometric technology. See BioCatch at FinovateFall in New York next month.
  • MasterCard partnership with Zimbabwe’s EcoCash designed to boost mobile money services in Africa. MasterCard is a presenter and sponsor of FinDEVr, the first fintech event for developers.
  • Taulia sees more than 350% growth in second quarter of 2014.
  • features AnchorID in latest report. See AnchorID’s live demo at FinovateFall in NYC.
  • GECU providing members with online and mobile digital banking services from Digital Insight.
  • PayNearMe partners with Systems & Methods to offer a way to pay child support in cash. Check out PayNearMe at FinDEVr.
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.

Behind the Scenes with Digital Insight, Loop, and Qapital

We hope you are enjoying our Behind the Scenes series.

Every Finovate conference brings a new cohort of startups and entrepreneurs into the Finovate family. Behind the Scenes helps you get to know these innovators, and the new products and services they are providing, that much better.

Catch up with previous installments of our Behind the Scenes series below.
In our latest installment, we introduce you to mobile banking technology innovator, Digital Insight; mobile wallet specialist Loop; and Swedish PFM developer, Qapital.

What they do
Digital Insight leverages mobile and online channels to help banks and financial institutions intensify customer engagement, and diversify revenues through location-based cross-selling.
The company’s Promotion Suite for mobile, demoed at FinovateSpring, gives banks the ability to provide contextual, highly-relevant products and services to their customers when their customers are most likely to want and use them. 
The solution uses geo-location technology and the ubiquity of mobile phones to give consumers what they want when and how they want it. “Imagine if you were able to be there for your customers at their time of need, exactly when they needed you,” said Digital Insight Director of Product Management Karishma Anand from the Finovate stage. “That’s possible.”
The Stats
  • More than 11 million online banking customers
  • More than 4 million mobile banking end users
  • Acquired by NCR in January 2014
The experience
Helping banks become a greater part of the world of e-commerce is a major theme for FIs looking for new ways to grow revenues. And while there are many potential services banks could provide their customers, facilitating commerce and e-commerce via financing may be among the lowest hanging fruit on the proverbial tree.
Digital Insight provides the example of a consumer shopping for a new car. With a banking app that includes Digital Insight’s location-based cross-selling solution, this shopper could receive a notification alerting her to an auto loan from her bank as soon as she pulls into the parking lot of the auto dealership.
Clicking on the message opens up the notification. In the case of an auto loan, the alert could feature information about the car, the loan rates available, and even a calculator to help the customer determine the affordability of the loan.
If the customer were not interested in the message from her bank – or not interested at the moment – the app provides an easy way to either stop further notifications or to have the bank remind her later via phone, email or text.
Where the app gets especially interesting is the way it allows customers to contact their bank to move the process forward, either by email, phone, or even features such as video chat. Banks also have the ability to integrate their own loan processing technology with the app.
What’s next from Digital Insight? With the tumult of acquisitions now behind it (two in less than a year), the company is focused on product development. Promotion Suite for mobile is on track for limited availability by the end of the year, with video integration likely in 2015.
What’s important, expressed Karishma, is that the company has not slowed down as it has moved from independence, through its growth as part of Intuit, and now as a member of NCR. In fact, she sees the latest acquisition as an opportunity for the company’s technology to reach an even greater number of consumers.
“The financial sector probably doesn’t even know about the entirety of NCR,” she says. “They touch consumers in more ways than people realize.” So, too, may Digital Insight.

Thumbnail image for Loop_logo.jpg

What they do
Loop has developed a smart mobile wallet system that can be used at virtually all POS terminals. The company’s technology does this without the merchant having to make any changes to existing POS hardware and infrastructure.
The stats
  • Founded in August 2013
  • Headquartered in Burlington, Massachusetts
  • Raised more than $10 million in funding
The experience
In Loop CEO Will Graylin’s colorful description, Loop represents the “first mobile wallet bullet train that has existing rails that can reach the vast majority of stations today.”
Why is this important? First, speed. Mobile wallet technology has to be faster and more efficient than pulling a credit or debit card from a physical purse or wallet. Second, in order to be
adopted quickly and widely, there needs to be as little adjustment as possible – for both consumer and merchant.
Having seen Loop in action during a briefing months ago, I can attest to the speed with which a common transaction – purchasing a couple of lattes at a local coffee shop- was completed. I was with Damien Balsan, VP for Business Development and Strategy, who was demoing the technology, and he already had the mobile app loaded with a set of credit and debit cards. Basically any card with a mag stripe that you’d carry in your wallet, he had loaded into his Loop app. 
If anything, there was a modest “Wow” factor on the part of the barista (and a few other employees who happened to pass by). And while that was truly a positive verdict in many ways, it might not have been appreciated had there been a queue behind us.
Being able to rely on existing hardware is a huge deal for potential adoption. On the merchant side, there is literally no change. With the exception of the kind of card readers typical at gas station pumps, readers that require the actual insertion of the physical card, more than 90% of the existing POS terminals that take credit and debit cards will have no problem taking payments via Loop.
On the consumer side, in addition to the mobile app, users can use a fob (below) to swipe card information into the Loop app. The interesting thing about the fob is that it not only stores the users’ card information, but also can be used to make mobile payments independent of the mobile phone in venues like bars and restaurants. 
Users can also opt for a carrying charge case for their smartphone that will serve the same function as the fob when it comes to both entering card information into the app as well as actually making mobile payments at the POS.
The technology behind Loop is fascinating in and of itself. While the rest of the world wrangles over NFC, Loop has leveraged its expertise in magnetic secure transmission technology to produce a way to convince the mag stripe readers of POS systems that they are interacting with the mag stripe of a credit or debit card. The magnetic field created by a simple loop of wire embedded in the Loop fob or charge case is both short-term and short-range (users hold their phone approximately four inches from the card reader), lending to both the speed and security of the transaction.
Loop believes that its technology solves a number of mobile wallet problems at the same time, from ease of use, to the centrality of the smartphone, to the lack of any hardware changes on the merchant end. Will put the challenge this way:
“In order for 1% of lead users to be happy enough to change their habits, and not rely on plastic cards or their leather wallet, they must have a critical mass of merchants that accept that payment form, which we believe is 80%. Until you get to that critical mass, you can’t even get lead users.”

Going forward the company already has its Loop fob on the market, and the charge case is expected to be available soon. Will says that Loop is working with some of the largest mobile device manufacturers to potentially embed the loop technology into mobile devices. This would be a move that would in some ways change the way Loop has introduced its business to the public. But the upside could be getting the technology in the hands of far more consumers far faster, and its hard to see an argument against that.

What they do
Is what keeps many people from spending smarter and saving better simply a matter of how boring and unfulfilling the budgeting process is? Qapital’s insight is to combine the less pleasant aspects of spending analysis (none dare call it budgeting) with the far more pleasant goal-setting and planning. 
By connecting the two, Qapital’s technology helps consumers not only make better choices when it comes to spending, but turns those times when consumers do spend into opportunities to help move them closer to their goals.
The stats
  • Founded in September 2012
  • Headquartered in Stockholm, Sweden
  • Technology live in Swedish market; closed beta in U.S.
  • Estimated product launch in November 2014
The experience
Qapital is designed to make it easy for consumers to answer three of the most common personal finance questions: How am I spending my money? How much money can I spend? How can I manage my finances to help me achieve goals?
Answering the first question was the easy part, in many ways. But as the team continued to develop and test the technology, it became clear that the other two questions were just as important when it comes to helping people effectively managing personal finances in the post-budget era. The company’s testing process (more on this below) encouraged them innovate further, adding and fine-tuning both the savings and goal-managing features of the app.
The result is an app that not only puts the key, must-have, PFM elements – budgeting, account aggregation and so on – alongside more unique features like Smart Saving and Safe Balance. But also the app connects all of these features on a behavioral level (“connecting virtues and vices” as they put it), making saving that much easier for people who have trouble with the admittedly abstract problem of trading off “the now” for “the later.”
Qapital’s Smart Saving approach allows consumers to see their spending in the context of larger goals, like
saving for a vacation in a year’s time. But more than that, the technology actually helps consumers make progress both toward limiting potentially budget-busting (or, at least, goal-diminishing) spending decisions.
And as Qapital CEO noted from the stage at FinovateSpring during his company’s demo, those using the app can move real money from real connected, FDIC-insured accounts. This means, for example, that every time a purchase of one type is made (such as in the example of Starbucks above), a specified amount is transferred to the pre-arranged goal account (the trip to Africa in the above example).
Users can see the goal section of the app, which indicates the deadline by which the goal is to be reached, the estimated duration, and even a motivational photograph to help the user stay on the path to smarter and more fulfilling spending and saving.
Qapital calls this “rule-based savings”. And depending on the user’s disposition, the rules can be set up as rewards (“save a $1 in my vacation account every time I go to the gym”) or punishments (“set aside $5 in my new motorcycle account every time I eat a cupcake”) or both.
Qapital’s app also includes a “safe to spend” feature called “Safe Balance”, something that is a must-have for any PFM today.  In fact, it is technologies like these that are helping people move away from the old-fashioned notion of budgeting toward a real-time understanding (and projection) of cash flow. 
As I mentioned, the beta process has been critical to the technology’s development according to the Qapital team with whom I spoke at FinovateSpring in San Jose. A year’s worth of testing showed that the savings component was critical, turning the app from a run-of-the-mill expense tracking PFM tool to a higher-frequency use resource that actually helps users accomplish real financial goals.
Partnerships with companies like Social Money and Plaid are helping Qapital brings its PFM technology to the U.S. – likely before the end of the year. Qapital is live in its home country of Sweden since December 2013, and is currently in closed beta in the United States.

Alumni News– June 13, 2014

  • Finovate-F-Logo.jpgAstroPay launches Ripple LatAm, a licensed money service business to use Ripple Labs’ payment network.
  • Ron Shevlin looks at Credit Agricole’s bank-run mobile app store.
  • FirstView selects Cachet Financial Solutions to develop a prepaid mobile app to offer to FirstView cardholders.
  • Financial Review: James Packer, Lachlan Murdoch eye stake in peer-to-peer lender SocietyOne.
  • Jumio brings NetSwipe to the mobile web for companies without a native app.
  • PayPal rolls out PassPort to give merchants a resource for stats, tips and general information on selling internationally.
  • Zopa wins Most Trusted Loan Provider and Most Trusted Specialist at 2014 MoneyWise Customer Service Awards.
  • Thinking Bigger features the team from EyeVerify.
  • Green Dot announces new GM of GoBank, Joshua Goines.
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 30, 2014

  • Finovate-F-Logo.jpgThreatMetrix wins Judges Choice for Best Overall Fraud/Security Solution at 2014 CNP Awards.
  • HelloWallet acquired by Morningstar in $52.5 million deal.
  • PandoDaily takes a look at Venovate and its platform for enabling alternative investments.
  • Gonzobanker lists five ingredients in his Franken-banking product: all Finovate alums in Q2ebanking, Digital Insight, ACI Wordwide, and Alkami Technology, and Jwaala.
  • Fast Company profiles NICE Systems in a new feature on voice biometrics.
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 22, 2014

  • Finovate-F-Logo.jpgDigital Insight named a 2014 Confirmit ACE Award Winner.
  • Quisk describes their FinovateSpring experience.
  • Betterment CEO Jon Stein talks with Mad Money’s Jim Cramer about its automated investing service.
  • BankersLab’s CreditLab takes gold at 2014 LearnX Impact awards.
  • Nous adds Spark Feed to trading app to help players analyze market sentiment.
  • Xero ranked No #1 by Forbes in its list of the World’s 100 Most Innovative Growth Companies.
  • Authentify announces expanded biometric support for Samsung Galaxy S5 Fingerprint Reader.
  • InComm and Peoples Trust launch reloadable pre-paid card for m-payments in Canada.
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.

Digital Insight Previews its Promotion Suite for Mobile


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

With a goal of helping financial institutions provide more relevant, more personalized cross-sell offers to their customers, here is Digital Insight with their Promotion Suite for Mobile.

Digital Insight is demoing Promotion Suite for Mobile, an enhancement to Digital Insight’s current Promotion Suite that brings highly personalized, relevant, cross-sell offers from financial institutions to their customers. 
The new Promotion Suite for mobile extends financial institutions’ ability to create, manage, distribute, and measure targeted cross-sell campaigns that reach the right customers online or on their mobile device with the right products at the moment of truth. Extending Promotion Suite to the mobile channel greatly improves offer relevancy to deliver targeted offers anywhere, anytime, and on any device.
Presenting: Karishma Anand (Director of Product Management) and Marshall Yuan (Senior Product Manager)

Product Launch: Promotion Suite for mobile will be in the pilot stage by summer 2014 with limited availability by the end of 2014. Video integration will be in the pilot stage by the end of 2014 with limited availability in 2015.
Metrics: Digital Insight has a diversified customer base of over 1,000 financial institutions with over 11 million online banking and 4.8 million mobile banking end users across mobile devices. Digital Insight was acquired by NCR (NYSE: NCR) in January 2014.
Product distribution strategy: Through financial institutions
HQ: Menlo Park, CA
Founded: July 1995
Twitter: @digital_insight

Finovate Alumni News — March 26, 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.jpgProfitStars’ Gladiator ranks #36 in MSPmentor’s top 501 managed service providers.
  • Kofax Mobile Capture platform wins “Elegant Implementation” category of Housing-Wire magazine’s HW TECH 100.
  • Online TV host Doug Sleeter interviews Xero CEO, Rod Drury.
  • Jumio wins 2014 METAward in “established” category.
  • miiCard bringing its ID verification technology to eMerchantPay.
  • WTOP News asks: is the credit card with keypad from Dynamics is the “card of the future”?
  • MasterCard selects Anna Yip as head of Hong Kong and Macau.
  • Digital Insight to expand online banking portfolio to include shared access and small business payments. Come see Digital Insight demo at FinovateSpring next month.
  • Kraken, the digital currency exchange platform used by Fidor Bank, raises $5 million.
  • ZipZap pauses UK cash-to-bitcoin transfers through its platform.
  • Boku partners with sunhill technologies to enable direct global carrier billing for sunhill’s 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.

FinovateSpring 2014 Sneak Peek: Part 1


The northern hemisphere’s first day of spring last week can mean only one thing: FinovateSpring 2014 is just around the corner. To help you prepare for the upcoming onslaught of innovation, we’ll be dishing up bite-sized pieces of some of the companies you’ll see in San Jose on April 29 and 30.

In this first installment, we showcase ChiaraMail, Dealstruck, Digital Insight,, LendingRobot, and Verde International:


ChiaraMail offers the first technology to protect your customers from becoming victims of e-mail address spoofing, while providing them unprecedented e-mail privacy without the use of encryption.

    • Eliminates spoofing and the resulting identity theft.
    • Ensures in-transit privacy.
    • Adds critical functionality such as changing e-mails after sending, and improved mail network efficiency.
Why it’s great:
ChiaraMail technology assures your customers that a message that claims to be from you is actually from you.  

Robert Uomini, CEO/President
Uomini is founder of ChiaraMail and inventor/developer of the patented technology behind ChiaraMail. He has been developing disruptive technologies for many years.

David Head, Chief Marketing Officer
Head is a senior marketing and sales executive with more than 20 years of experience in enterprise and start-up companies bringing game-changing technologies to market.


Dealstruck is a web-based peer-to-peer lending company that offers a suite of financing products to small business borrowers designed to progressively graduate them toward conventional financing.


    • Real-time access to borrowers and deals
    • Ability to manipulate data from Dealstruck loan packaging to augment underwriting/yield
    • Opportunity to participate alongside others or take down full loans
Why its great:
Dealstruck provides the most complete suite of financing options for business borrowers and investment opportunities for lenders.  


Ethan Senturia, co-founder and CEO
Senturia is Wharton Business School graduate who previously ran Internet marketing for a lead generation startup, Ampush Media, and in distressed credit at Lehman Brothers.


Russell McLoughlin
McLoughlin, co-founder and CTO, is a B.S./M.S. who has worked at the Biodefense Knowledge Center at Lawrence Livermore National Laboratory, and at Google Machine Translation and Apple.


Digital Insight’s Promotion Suite for mobile reaches the right customers on their mobile device with the right offers at the moment of truth.


    • Brings personalized, relevant cross-sell offers from financial institutions to their customers.
    • Engages consumers in their moment of need anywhere, anytime and on any device.
Why it’s great:
Provides personalized engagements and enhanced communications to connect financial institutions with their customers like never before. 


Karishma Anand
Anand is the director of product management for Digital Insight. She is responsible for driving product strategy, execution for digital banking and payments solutions.


Marshall Yuan 
Yuan is a senior product manager at Digital Insight. In this role, he oversees the strategy and go-to-market plan for Android banking applications.

IDmeLogo verifies attributes of a consumer’s identity and ties them to a payment medium


    • CRM, Offers, Loyalty and Authentication via a payment medium
    • Elimination of physical credentials needed at checkout
    • Fraud prevention for high-value transactions via authentication
Why it’s great:
User-centric digital identity, attribute verification and a mobile device enables the holy grail of marketing: personalization  


Blake Hall 
Hall is a former Army Ranger and Harvard Business School graduate. Thanks to The Economist, he is the first Google result for “muscly entrepreneur.”


Matthew Thompson
Thompson is a former Army Ranger and a decorated combat veteran. He co-founded while attending Harvard Business School.


LendingRobot automates loan selection and investment in Peer Lending.

    • Fully automates investment in LendingClub and Prosper
    • Submits orders within one second after new loans appear
    • Automated definition of investment strategies
Why it’s great:
LendingRobot makes investing in Peer Lending simple and efficient, and allows individuals to compete with institutional investors.  


Gilad Golan, CEO 
Golan shipped almost every product he ever built (and he built a lot of them).


Emmanuel Marot, President
Marot uniquely mixes backgrounds in both user experience design and quantitative finance.


Verde International’s Verde Aurora is a next-gen automated loan-underwriting optimization engine satisfying customers, shareholders, regulators, dealers, and other stakeholders, instantly.

    • The best possible decisions and counteroffers, delivered in seconds
    • Loss models that outperform industry leading models by fourfold
    • Scalable deployment that any financial institution can afford
Why it’s great:
Verde Aurora obsoletes today’s decision systems by integrating behavioral models, DCF analysis and MPP-driven optimization for perfect instant offers, pleasing customers and shareholders alike. 

Patrick Reily, CEO and Co-Founder Verde International
Reily’s multidisciplinary approach to strategic planning and business development is the result of 25 years of experience in banking and financial services. 

Robert Hughes, CEO of Finance and Thrift Co.
Bob has over 30 years of experience as the President/CEO of federally insured financial institutions.

Stay tuned for a sneak peek of another six companies later this week.

Finovate Alumni News– February 5, 2014

  • Finovate-F-Logo.jpgKabbage expands platform to serve all SMBs: online, brick-and-mortar, and services businesses.
  • Spend Matters interviews Taulia’s Markus Ament on its discounting philosophy, e-invoicing, and ERP.
  • Gartner recognizes Backbase CXP as being at the forefront of UX design and mobile development support.
  • Washington Federal picks Fiserv’s DNA account processing platform.
  • Digital Mailer adds eight new financial institutions to its My Virtual Strongbox service.
  • Experian launches real-time data sharing service for UK credit providers.
  • Genesis Financial chooses ACI Worldwide to power multichannel call center and eLockbox payment options.
  • LegacyTexas Bank of Plano to work with Digital Insight to deploy online and mobile banking solutions. See Digital Insight demo at FinovateEurope next week.
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– December 4, 2013

  • BBVA Compass announces launch of BBVA Research iPad app.
  • Bank Innovation column on fintech in Israel features TipRanks and Payoneer.
  • Emida launches Handset and SIM Programs.
  • BancVue and other Credit Unions Help U-Haul Refinance Corporate Debt.
  • Prosper’s daily average loan originations grew almost 10% in November over October.
  • The Next Web reports: PayPal launches a digital gift store, featuring Apple as its sole launch partner.
  • City of Gig Harbor Launches on doxo; More than 5% of Residents Go Paperless in the First 90 Days.
  • Forbes: Kabbage Now Uses Square Data to Provide SMB Funding.
  • Mint is now available on Windows 8.1 and Windows Phone 8.
  • btcQuick Bitcoin Exchange working with miiCard to mitigate fraud.
  • EyeVerify interviewed on The Kansas City Power Lunch radio program.
  • IntelliResponse wins bronze in Best in Biz Awards’ Most Innovative Product of the Year category for 2013.
  • Intuit to purchase document startup company, Docstoc.
  • American Banker features Zaydoon Munir, founder of RevolutionCredit.
  • ACI Worldwide adds new executives, open new South American HQ in Sao Paolo, Brazil.
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– December 3, 2013

  • Finovate-F-Logo.jpgSwipely expands to new HQ building.
  • Wipro to buy mortgage consultancy firm Opus Capital Markets Consultants.
  • Apex Community FCU to offer Geezeo white label PFM.
  • Forbes highlights Cardlytics‘ growth and future of card-linked offers.
  • Xero adds 2 Australian banking partners: Greater Building Society and Investec.
  • TechCrunch reports: Blackhawk Network Picks Up Gift Card Startup, Retailo, To Bolster Its Reach In Europe.
  • C-SAM launches MasterPass-powered (MasterCard) digital wallet solution for FIs.
  • Jack Henry Banking wins outsourcing contract with Univest Corporation of Pennsylvania.
  • NCR to buy Digital Insight from Thoma Bravo for $1.65 billion.
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– October 10, 2013

  • Finovate-F-Logo.jpgBackbase on Track to Expand into UK Market. 
  • Arroweye Solutions launches EMV On-Demand.
  • ICBA Mortgage extends its agreement with D+H Mortgagebot.
  • InComm partners with Jackson Hewitt Tax Service to unveil new GPR card.
  • Digital Insight working with Delta Community CU to offer members digital banking services and solutions.
  • Guardian Analytics announces FraudMAP Connect, real-time collaboration platform & fraud intelligence community.
  • Cachet Financial Solutions launches new mobile money management application and platform, Select Mobile Money.
  • Equifax enhances underwriting decisions for lenders and businesses with release of advanced decisioning attributes.
  • Simple announces new MoneyDrop, instant P2P $$ transfer technology.
  • OnDeck ranked #20 in SellingPower Magazine’s 50 Best Companies to Sell For List.
  • Ven partners ValidSoft to secure virtual currency transactions.
  • SecondMarket CEO explains latest Bitcoin move.
  • Tyfone powers P2P m-payments in BVCU m-banking platform.
  • MasterCard joins Fast IDentity Online (FIDO) Alliance in support of innovation in online authentication.
  • Inaugural issue of FIS’s digital magazine FIS InMotion now available.
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.