Finovate Alumni News

On Finovate.com

Around the web

  • FIDO Alliance now certifies security products from Entersekt and MicroStrategy.
  • Prosper updates credit model to PMI 6.
  • Boku acquires Mobileview Italia, offering it access to all four of the major mobile carriers in Italy.
  • NAFCU chooses Geezeo as PFM Preferred Partner.
  • Cloud Lending Solutions unveils CL Originate, its next generation, cloud-based loan-origination platform.
  • PYMNTS.com takes a look at Tradeshift’s acquisition of Merchantry.
  • BlackBerry and PayPal team up to beta test P2P payments via BBM in Canada.
  • Albawaba profiles Zooz and its unique approach to hiring developer talent.
  • Partnership with DigitalMailer to enable Primadata to provide its clients with the ability to send digital statements.
  • The Tennessean names ProfitStars a 2015 Top Workplace.

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 Mailer’s My Virtual StrongBox Provides Secure Storage and Access Anytime, Anywhere

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

Our next presenter is Digital Mailer with My Virtual StrongBox

“My Virtual StrongBox was created by a team of technology innovators with more than 175 combined years of finance industry experience. This product combines the peace of mind of a safe deposit box with the convenience of online storage services. More importantly, your customers can trust that their files will be backed up and safe from prying eyes.”
Presenting: Ron Daly (CEO) & Samantha Thrift (Sales Associate)
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Product Launch: May 2012
Metrics: Available to 1.4M customers and members, available at 16 financial institutions nationwide with over $20B in assets
Product distribution strategy: Through financial institutions, through other fintech companies and platforms, licensed
HQ: Herndon, VA
Founded: May 2012
Twitter: @MyVirtualStrong

DigitalMailer’s Cloud Storage Solution Gains Momentum

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What does it mean that DigitalMailer‘s My Virtual StrongBox is now available from 11 different institutions as 2014 begins?

  • My Virtual StrongBox is being offered to more than one million consumers in the U.S.
  • Total assets of the financial institutions offering My Virtual StrongBox is more than $16 billion
  • Institutions providing My Virtual StrongBox range from $27 million Element FCU to $5 billion Digital FCU

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Additionally, almost 40,000 members of Redstone FCU, one of the first financial institutions to deploy My Virtual StrongBox, have activated the service, which Redstone has enhanced with 125 MB of free storage.
Among the leading solutions from DigitalMailer, My Virtual StrongBox makes it easy for users to store encrypted copies of documents from birth certificates to wills in the cloud. The technology integrates readily with online banking platforms and PFM products via APIs. My Virtual StrongBoxes have been deployed as rewards for loyalty programs, and used in both estate planning and wealth management.
Click here to see the video on YouTube.
Ron Daly, President of DigitalMailer, said: ‘It’s been a busy two years, fine-tuning the product and adding clients. We’ve designed My Virtual StrongBox to be simple to use and to make life easier when it comes to a consumer’s financial life.”
DigitalMailer was last on the Finovate stage as part of the FinovateFall show in 2012. See the company’s demo here.

Finovate Alumni News– August 13, 2013

  • Finovate-F-Logo.jpgYseop a finalist as a technology inventor in Tech Titan Awards.
  • Bank News Magazine features AuthenticID’s pictureID identity authentication solution.
  • VentureBeat takes a look at Locaid’s goal of expanding its geolocation technology to New Jersey and Delaware.
  • FinovateFall 2013 Sneak Peek: Part 1 is up. Get to know the fintech innovators who will be presenting in New York in September.
  • Ron Daly, president and CEO of DigitalMailer, provides insights on making mobile marketing compliance and consumer friendly.
  • ReadyForZero enables users to monitor their credit score as they tackle debt.
  • Free Webinar Wednesdays interviews VerifyValid CEO Paul Doyle. See them demo at FinovateFall 2013 in September.
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 Mailer’s My Virtual StrongBox a Lock for Redstone FCU

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Redstone Federal Credit Union has seen more than 30,000 members (20% of its online banking base) take advantage of the My Virtual StrongBox service powered by DigitalMailer in the five months since the technology was deployed.

My Virtual StrongBox allows users to store copies of everything from wills and birth certificates to deeds and insurance policies. It integrates with online banking platforms and personal finance management (PFM) tools by way of APIs. Files are encrypted so that only the user can access them.

Founded in 1951 and based in Huntsville, Alabama, Redstone Federal is the largest credit union in the state. As of 2012, the company is the 16th largest credit union by membership in the U.S. and 34th largest by assets.

Here are a few additional metrics on Redstone FCU:

  • More than $3 billion in assets
  • More than 350,000 accounts
  • More than 130,000 online banking users

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DigitalMailer has processed more than 60 milllion electronic statements and 80 million emails since inception in March 2000. Its products are used by more than 200 financial institutions. Ron Daly is CEO. 

The company demoed its technology as part of FinovateFall 2012. See them in action here.

Finovate Alumni News– October 24, 2012

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  • PayPal Starts Selling PayPal Here at AT&T Stores, Teams Up with MoneyGram.
  • Finextra reports Clear2Pay and Backbase join forces on customer experience.
  • Forbes looks at Dwolla’s business model.
  • Equifax partners with Lender Processing Services.
  • CU Insight covers DigitalMailer.
  • CNBC interviews Alastair Lukies, Monitise CEO and co-founder.
  • Xconomy lists peerTransfer as 1 of 5 startups to watch.
  • CU Broadcast chats with Mitek’s Daniel Simon.
  • American Banker features BankersLab’s CollectionLab.
  • peerTransfer First to Help Chinese International Students Pay in Renminbi.

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.

DigitalMailer’s My Virtual Strongbox Gives FI Members a Place to Store Personal Documents

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Starting off the second session, DigitalMailer demonstrated how FIs can use My Virtual Strongbox to store copies of personal documents:

“My Virtual Strongbox is a new SaaS application that enables users to store copies of their most personal documents including wills, birth/marriage certificates, insurance policies, deeds, titles, and any other important documents that would be sorely missed if lost or destroyed.”

Product Launched: April 2012
HQ Location: Herndon, VA
Company Founded: March 2000
Metrics: DigitalMailer has 200+ financial institutions using its services, with over 5M combined customers, eleven digital communication products in market and 23 employees in its Herndon, VA and Charlotte, NC offices. Over 60M electronic statements and 80M emails have been processed by the company’s digital communication products since its inception.
Twitter: @digitalmailer
Finovate demo videofinovate.com/fall12vid/ (demo video will be posted next week)
Introducing Ron Daly (President & CEO) and Greg Crandell (EVP)
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FinovateFall 2012 Sneak Peek: Part 1

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We’ve selected over 60 leading innovators to take the stage for the sixth annual FinovateFall conference in New York on September 12 and 13.

Each company provided a sneak peek of what they’ll demo next month. Below is the first installment of these teasers. We’ll have more next week.

Don’t miss your chance to see the live demo from each company and meet the execs responsible. Get your FinovateFall ticket here.

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Socialite from Actiance allows financial advisors, agents and sales and marketing to engage with clients, build customer relationships, and create a personal brand – all while being compliant with FINRA and SEC regulations. 
At Finovate you will see for the first time the integration of Actiance’s Socialite platform with Salesforce enabling users to maximize the power of Salesforce, monetize their social involvement and increase revenue. Now users can Link Socialite contacts to Salesforce accounts and send Socialite activity to Salesforce when contacts provide feedback or respond to posted content. In addition, we will be showcasing our new Socialite Mobile application for the iPhone.
Innovation type: Marketing, sales, security

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Come meet Billhighway at the intersection of technology and philanthropy! It’s your chance to witness the debut of a faster, more compelling way to fundraise. Billhighway’s mobile application, unveiled for the first time at FinovateFall 2012, brings a mobile cashless approach for an easy, secure, fun way for folks to give in real time, and perhaps give more! 
The application is specifically developed for nonprofits to effectively increase funding from new sources. A great example of technology used for good, nonprofit organizations immediately collect and put to use mission-critical donor funds, the lifeblood of their efforts to do more good.
Innovation type: Marketing, mobile, payments

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BCSG will be launching an innovative and customizable cloud-based package at FinovateFall 2012, incorporating the most important tools a small business owner needs to manage and grow their business. For just $25 a month, users will get access to several market leading applications via one online platform using a single username and password. This unique package has been developed specifically to address the day to day challenges small businesses owners face and is supplied through financial institutions.

Innovation type: Online UI, PFM, small business

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CommunityLend’s product, Financeit, enables businesses to offer installment loans to their customers at the point of sale. Since launching in January of 2011, they have signed up over 1,200 merchant partners and processed over $130MM in loans. The key verticals are vehicle, home improvement, retail and health.
CommunityLend has raised over $9MM in financing since launch and is now pursuing a U.S. expansion strategy. Lending capital comes from banks and other institutional investors.
Innovation type: Lending, payments

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Can “The Cloud” be trusted to store important files? Are safe deposit boxes still practical in the age of electronic documents? Is there a way to ensure “Total Information Privacy” for the customer? My Virtual StrongBox is the online answer to safe deposit boxes. Customers store electronic copies of important documents in this easy-to-use filing system AND retain ownership of their documents. Files are managed by, and only visible to, the customer. Financial institutions using My Virtual StrongBox add one more sticky product to their list of benefits and keep customers around for years to come. Learn more at myvirtualstrongbox.com.
Innovation type: Banking products, PFM, small business

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Optimize your online marketing and improve your acquisitions strategies with Experian’s Premium Prequalification, a powerful credit-screening tool that allows institutions to proactively utilize individual credit data online in real time to:

    • Empower and educate consumers with a snapshot of their credit health
    • Save consumers time and money by instantly providing them with their most viable options at the very start of their shopping experience 
This best-in-class process also offers Prequalification Triggers, notifying consumers of recent chan
ges to their credit while offering relevant products, and Credit Comparables, which compares individual credit to the average in their area. Redefine your acquisitions strategies today with Experian’s Premium Prequalification
Innovation type: Cards, lending, sales

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Fiserv understands that convenience and supporting user preference are keys to increased adoption and usage of digital payments. Our innovation seamlessly blends a variety of information input modes in our mobile banking application, Mobiliti Enterprise
Using our applications, users can choose from traditional keypad and screen touch interaction, image capture and OCR, or voice-driven commands and inputs to make payments. And a key feature is that users can effortlessly switch modes at any time, whenever they want – even in the middle of a transaction.
Innovation type: Banking products, mobile, payments

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In a world optimized to get us to spend more at every turn, ImpulseSave has made saving your money just as easy and instantly gratifying as spending it. Our simple web and mobile tools incent consumers to turn every point of sale into a “Point of Saving”, as well as every point in between. 
ImpulseSavers are saving close to $4,000 per year on average. While others argue that greater discipline and better budgets are the answer, ImpulseSave represents the exact opposite approach. Instead of trying to change consumer behavior, encouraging more self-denial, we’ve actually transformed saving itself to leverage that very behavior, making saving as impulsive, fun, even addictive as is spending.
Innovation type: Communications, marketing, PFM

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Ready, Set, Locate! See how one easy-to-use API can locate any customer or cardholder mobile phone for authentication or mobile marketing. No apps to download, it works on feature phones, smart phones or on any carrier. Mobile phone network location can be a low cost, high quality, unspoofable authentication factor for mobile payment and credit card identity. 
See Locaid’s live location demo that can be easily integrated into any CRM system, mobile marketing, web services or anti-fraud applications. With a mobile device number and permission, you can locate 350 million devices via our location privacy platform.
Innovation type: Identity, marketing, mobile

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See how financial institutions can save millions by implementing BankFiling, a first-of-its kind innovation that delivers significant ROI yet requires limited investment. A whole new approach to commercial and business banking! Prepare yourself!
Innovation type: Banking products, lending, small business

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The fear of not getting paid and concern over finding new clients is keeping small business owners up at night. PaySimple is launching a “get paid faster while you grow your business” addition to its PaySimple Pro receivables automation solution. The innovation automates pricing to ensure the small business is paid on time and also fosters social engagement as a natural extension of the payments process.
Innovation type: Online UI, payments, small business

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Times are tough. The kids are in college. You’re caring for aging parents. You’re underemployed. You have bills. Bills that are due. But your family and friends want to help. Because that’s what family and friends do. If only there was a way for them to provide this financial help quickly. Conveniently. Securely. Online. Without the hassle of sending cash and checks, or the high cost of wire transfer services. Meet PayTap.
Innovation type: Communications, payments, PFM

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Personal Capital is wealth management for the Internet Age. The company’s online platform combines digital technology with highly personalized service to provide a holistic view of your unique financial picture. The free online dashboard, iPad and iPhone apps present all of your financial data in one place, showing you exactly what you own and what you owe, in real time. 
At Finovate Fall, Personal Capital will unveil new features that enable even greater transparency into your money for the long-term: your retirement. Do you know how much your 401(k) costs?
Innovation type: Investing, online UI, PFM

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Pindrop Security’s technology is being used by banks to identify fraud callers and to prevent fraud transactions. In the Fall of 2012, we’ll introduce our latest solution for financial institutions that rely on the phone for transactions. Join us for the debut at FinovateFall 2012!
Innovation type: Identity, security

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Prepaid Resources introduces BenefitsDirect ‘Direct Deposit Management’.
Capture recurring Federal benefits, State benefits and Payroll deposits through your accountholder website, in-branch, at retail, by mobile app or via live agent. Track enrollment success and measure direct deposit activity to proactively personalize accountholder relationships.
Innovation type: Banking products, cards

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ShopKeep solves the last mile in local. It enables vertical partners from delivery, payments, loyalty, and deals to connect directly to SMBs. A revolutionary iPad based SaaS product, ShopKeep’s POS system makes traditional cash register products obsolete. 
For $2/day merchants receive a high end operating system and can manage their store even when they are not inside it. Made in NYC, ShopKeep now has over 2,500 customers. It provides merchants flexibility to choose their credit card processor and offers unheard of customer support and economics. ShopKeep POS is the simplest way for retailers to make smarter business decisions.
Innovation type: Payments, sales, small business

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Stockr

Stockr is a finance portal for the social web. For most people, investing is more social than scientific, and investment ideas come from close friends, trusted advisors and various periodicals. 
Stockr embraces this social element of investing, creating powerful connections among those who have actionable information and those who are seeking it. While other portals compete on content, our view is that content becomes most relevant and actionable when it’s shared and discussed.
Innovation type: Investing & asset management, PFM

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Everyone has come to expect innovative, reliable and low cost local currency payment services, yet we continue to live with expensive and unreliable international payments. Over $37 trillion in foreign currency payments are sent or received each year. The international payment services offered by the major banks are far from satisfactory. The Currency Cloud evolves the international payments process – we make currencies simple.
Innovation type: Back office, payments, small business

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With Tuition.io, student loan borrowers can easily access all their loans in one visually appealing dashboard, use graphical visualization tools to compare them and get customized optimization plans that take advantage of little-known and hard-to-understand restructuring options.
Innovation type: Banking products, lending, PFM

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The mobile phone is fast becoming a dominant player in payments and banking worldwide. As electronic fraud will certainly be drawn to the new medium, so too must security be made usable, flexible and ultimately reliable. ValidSoft’s proprietary technology can secure all transaction channels, in real-time. All our solutions are telecommunications-based. 
At FinovateFall 2012 we will show you how our advanced mobile payments authentication platform, SMART, supports a mobile wallet product and demonstrate how scalable and flexible it can be.
Innovation type: Identity, payments, security
Stay tuned next week for another sneak peek of FinovateFall 2012 presenting companies.