Yodlee’s Ynext Unveils New Incubator Class

Ynext_Yodlee_homepage_Nov2015

Ynext, the incubator program from Yodlee, announced its latest class. Featured among the eight startups is FinovateFall 2015 alum Hedgeable, the first private bank for millennials.

General manager of Ynext and chief strategy and development officer for Yodlee, Joe Polverari said his team was “blown away by the quality and diversity” of this year’s cohort, and that being involved with “such an impressive group of entrepreneurs so focused on innovation is what we love.”

Along with Hedgeable, the upcoming class includes:

As participants in the incubator, the startups will get 12 months’ access to Yodlee’s platform, a development team to help with API integration, mentorships from industry professionals, and activities in boot camps in the Silicon Valley area. Directing the class will be former Rutberg & Company vice president, Jeff Cain. Mohr Davidow Ventures, Canvas Venture Fund, Zendesk, RBS, Canaan Partners, Purch, and 1185 Design will provide mentors for the program.

Ynext is no stranger to Finovate alums. A trio of alums—Fidor US, DRAFT and Roostifygraduated from Ynext’s incubator class in May. Since then, Fidor has expanded to the U.K.; DRAFT made the finals of the BBVA Open Talent Competition; and Roostify raised more than $7 million in Series A funding and joined Wells Fargo’s accelerator.

Hedgeable was founded in 2009 and is headquartered in New York. Co-founders Michael Kane and Matthew Kane demoed NEXT, their wealth-management platform, at FinovateFall 2015.

Yodlee was acquired by Envestnet for more than $660 million, less than a year after going public. Based out of Redwood City, California, and founded in 1999, Yodlee is an alum of both Finovate and FinDEVr. Anil Arora is CEO.

Finovate Debuts: How DRAFT Offers Transparency into Investment Performance

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For average investors, understanding asset allocation, fees, and risk is cumbersome; but ignorance can be costly. DRAFT seeks to change that by offering a transparent, read-only view of existing investment funds. Its mobile app crowdsources data from other investors to empower users to make better decisions by better understanding their accounts.

DRAFTPerformanceOverviewDraft facts:

  • Raised $1 million seed funding
  • 10 employees
  • Waitlist of 9,000
  • Headquartered in Austin, Texas
  • Founded 2014

DRAFT’s mobile app targets millennials with $100,000 to $1 million to invest and are underserved by traditional financial advisers.

After connecting to bank and investment accounts, the overview screen compares their risk profile and equity positions against top-performing accounts (pictured right). Accounts can be toggled on and off to view risk and equity by account or as a group.

Why it’s great

1) Uncover fees
Most people are aware of investment account fees, but not everyone grasps exactly how much they are paying. DRAFT makes it easy to discover the percentage and dollar amount paid.

DRAFTFeeFinder

2) Benchmark and compare
Users benchmark their accounts’ historical performance, allocation, and fees graphed alongside the top 10% of performers. They can also compare their metrics with those of an index fund.

DRAFTCrowdsourced

3) Build rapport between client and adviser
The app’s Blueprint option shows where accounts fall short. Using the in-app sharing capability, users can send results to financial advisers to hold them accountable.

What’s next?

DRAFT plans to launch a B2B, white-label version of its app for advisers to brand and distribute to clients, enabling advisers to increase communication, transparency, and trust.

Additionally, by gaining visibility into their clients’ entire portfolio, advisers may discover assets they aren’t currently managing.

DRAFT debuted is mobile app at FinovateSpring 2015 in San Jose.

 

Finovate Alumni News

On Finovate.com

  • “More than 30 Alums Earn Spots on the Hot Topics 100 Most Influential People in Fintech Roster”
  • “Finovate Debuts: How DRAFT Offers Transparency into Investment Performance”

Around the web

  • Patch of Land to directly secure all existing and future loans with underlying collateral.
  • The College Investor reviews FutureAdvisor.
  • The Denver Post profiles Broomfield-based Avoka Technologies. See Avoka at FinovateFall 2015 in New York City in September.
  • Matchi launches new insurance category.
  • Pymnts interviews Flint Mobile’s CEO Greg Goldfarb on how its solution will adapt to the upcoming liability shift.
  • Larky to power CoastHills Credit Union’s privi, a mobile app that delivers instant member savings and loyalty.
  • Let’s Talk Payments looks at Venmo and its new group-payments feature.
  • Payoneer partners with freelance jobs platform, Nebbish.com.
  • Expensify launches real-time expense reports.
  • Royal Bank of Scotland hosts hackathon in partnership with Open Bank Project.

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, FinDEVr Alums Earn Finalist Spots in BBVA Open Talent Competition

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The BBVA Open Talent competition released the list of finalists for its 2015 competition. And five alums from both our Finovate and FinDEVr conferences will be competing for the top prizes.

The three regional finals will be held in September (schedule below). Six winners will be chosen, two from each category. Winners will receive €30,000 to develop their fintech projects in partnership with BBVA.

  • Latin America Finals: Mexico City, 9/10 September
  • USA and the Rest of the World Finals: New York, 14/15 September
  • Europe Finals: Barcelona, 21/22 September

Here’s a look at the alumni who will be competing in September:

Coinalytics_logo_FinDEVr2015_250xCoinalytics provides an end-to-end intelligence platform that helps institutions gain actionable insights from the blockchain. The company will make its FinDEVr debut at FinDEVr 2015 in San Francisco in October. Coinalytics was founded in April 2014 and is based in San Francisco, California.

DRAFT_logoDRAFT made its Finovate debut at FinovateSpring 2015 in San Jose. The company has developed a crowdsourced, mobile investment-analysis solution geared toward mass-affluent millennials. DRAFT was founded in October 2014 and is headquartered in Austin, Texas.

Rippleshot_hi_res_FS2014Chicago-based Rippleshot builds security and anti-fraud solutions. Their cloud-based technology leverages big data to spot bank card data breaches. The company was founded in June 2013 and last demoed for Finovate as part of FinovateFall 2014 in New York.

SizeUp_logoFounded in September 2011 and based in San Francisco, SizeUp uses big data to give small businesses the kind of business intelligence and market analysis often available only to larger companies. The company demoed at FinovateSpring 2015 in San Jose.

FS2015_Token_logo_snagMaking its Finovate debut this spring at FinovateSpring 2015, Token has developed a payment platform that relies on public-key cryptography and digital signatures for faster, more secure transactions. Founded in January 2015 and headquartered in Palo Alto, California.

Now in its seventh year, the BBVA Open Talent competition seeks fintech projects that “contribute to the industry’s evolution and transformation.” Ideal areas for innovation include big data, e-commerce, and security. The Open Talent challenge seeks to emphasize solutions from companies and entrepreneurs interested in becoming “fellow travel companions” with the bank.

Here are the rest of the finalists in the competition (alums excluded).

Latin America category

  • Aflore
  • Bitnexo
  • Bitso
  • CAAAPITAL
  • Culqi
  • Destácame
  • Finvox
  • Moneero
  • Openpay
  • Quotanda
  • Uanbai
  • Volabit
  • Wayniloans
  • Zave App
  • Zoop

USA and Rest of the World category

  • Bitwage
  • ClearServe
  • Control
  • Dyme.co
  • Koho
  • LendingFront
  • ModernLend
  • New Constructs
  • SAASPASS
  • SnapCard
  • Voaztz
  • WeFinance

Europe category

  • Aplázame
  • Continuum Security
  • Cutover
  • Everledger
  • Grow.ly
  • Origin Markets
  • Ormsby Street / Credit HQ
  • PayBox
  • Pich
  • Ringpay
  • Safello
  • Squirrel Financial Wellbeing
  • TheMarkets Trust Ratings
  • Vaultoro
  • Wayerz
  • Wealth-Arc
  • 50wise

 

Finovate Alumni News

On Finovate.com

  • Coinbase Announces Strategic Investment from Westpac’s Reinventure

Around the web

  • Let’s Talk Payments takes a look at interactive debt repayment tool, ReadyForZero.
  • Money Under 30 features personal finance apps from Personal Capital, Mint, Toshl, Mint Bills, Draft, Level Money, Bill Guard, and Credit Karma.
  • TSYS extends multi-year payment agreement with Mexico’s Banco INVEX S.A.
  • Holvi gives a sneak peek of its business debit card.
  • Cachet Financial Solutions enhances Select Mobile Deposit with geo-fencing unlimited user groups with defined business rules, and date, signature and endorsement detection.
  • Kristo Käärmann of TransferWise is quoted in The Guardian column on the relationship between U.K. fintech startups and banks.
  • Tradeshift teams up with C2FO, expanding access to the world’s largest working capital market.
  • Actiance to Deliver Content from 70-Plus Communication Channels to Office 365.

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

 

Finovate Alumni News

On Finovate.com

  • Finovate Debuts: Token Creates a Secure Payment Ecosystem

Around the web

  • PYMNTS chats with Ripple Labs CEO Chris Larsen, co-founder.
  • Forbes lists Transferwise as 1 of 3 fintech startups you should know.
  • Inc. names Planwise, Trulioo, WePay, Flint in its look at the evolution of fintech.
  • After launching with Tradier, QuantConnect saw a 300% jump in user-engagement signals, including traffic, coding and backtesting.
  • Fiserv expands card-production capabilities to speed EMV chip-card migration.
  • TechCrunch column on fintech startups features Lending Club and LearnVest.
  • PYMNTS.com quotes LoopPay CEO Will Graylin in a discussion of how Apple, Google, and Samsung “pitch payments.”
  • Market Prophit adds Nasdaq Last Sale real-time data to its analytics platform.
  • Queens Gazette columnist calls MaxMyInterest “a way to get back at the banking industry for their pitifully low interest rates on savings.”
  • The Financial Times’ review of P2P lending for business and consumers features Zopa.
  • Ernst & Young name TransferWise co-founders Taavet Hinrikus and Kristo Käärmann “Entrepreneurs of the Year” for 2015.
  • Great Friday reading material! Draft co-founder Brad Lawler describes how he was inspired by Finovate.

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.

DRAFT, Fidor US, Roostify to Present Solutions at Yodlee Ynext Incubator

Yodlee_Interactive_homepage_May2015

Out of the eight fintech startups slated to demonstrate their technologies at Yodlee’s Ynext Incubator Demo Day next week, three are Finovate alums.

DRAFT, Fidor US, and Roostify will join five other fintech colleagues at the Ynext Demo Day event on 27 May 2015 at the JCC in Palo Alto, California. As part of their participation in the program, each company gained free access to Yodlee Interactive’s API interfaces for a year, as well as six months’ worth of mentoring, support, and guidance in areas like capital-raising and product development.

DRAFT made its Finovate debut earlier this month at FinovateSpring 2015 in San Jose. The company’s mobile investment-analysis technology is targeted toward mass affluent millennials, and leverages crowdsourced data to help them make better financial and investment decisions.

Roostify demonstrated its technology at FinovateSpring 2014. The company’s solution helps lenders process loans faster while reducing risk and “demystifying” the home mortgage process for buyers.

Fidor US is a branch of the innovative, tech-savvy German bank, Fidor Bank, and represents the company’s strategy to bring its “branchless banking platform” to the United States. Fidor Bank demoed at FinovateEurope 2011 in London.

Yodlee is a long-time Finovate and FinDEVr alum, and multiple Best of Show award-winner. The company’s last appearance on stage was at FinovateSpring 2015.

Also participating in Demo Day are Accredify, Evolved Bookkeping, OCX, Telito, and VOATZ.

Finovate Alumni News

On Finovate.com

  • DRAFT, Fidor US, Roostify to Present Solutions at Yodlee Ynext Incubator
  • $680 Million Raised by 29 Alums in Q1 2015

Around the web

  • BizJournals lists BancVue as one of Austin’s Best Places to Work in 2015.
  • American Banker interviews James Varga, CEO of miiCard, on sharing identity information.
  • Motif adds new trading alerts.
  • P2Binvestor selected as new network company by Blackstone Entrepreneurs Network Colorado (BENCO).
  • MaineBiz takes a look at CashStar and its new offices in downtown Portland.
  • Mountain America rolls out its new biometrics login technology courtesy of EyeVerify.
  • Fuze Networks acquires LiveMinutes’ online workspace platform.
  • Jwaalla celebrates signing its 100th credit union client, Palisades FCU.
  • Business Insider looks at how Klarna and its one-click payment technology could help save the newspaper business.
  • Reid Hislop tapped as new chief marketing officer at Avoka.
  • Inc. Magazine features ID.me CEO Blake Hall in a column on veteran entrepreneurs.
  • Equities.com talks crowdfunding and real estate with Jason Fritton, Patch of Land CEO.
  • Financial News interviews Ripple CEO, Chris Larsen on the future of the financial infrastructure.
  • SocietyOne has originated more than $30 million on its platform since launching in 2011.
  • Prosper announces record first quarter, with $595 million in loans through the platform, up 200% from Q1 2014.
  • WattzOn to help Montana residents save on energy expenses via the Bozeman Energy Smackdown.
  • Larky selected by the Kentucky Bankers Association to provide mobile local rewards program for member banks.

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.

DRAFT Uses Crowdsourcing to Analyze Investment Strategy

DraftLogo

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

DRAFT showcased its mobile investment analysis tool:

Draft is a crowdsourced investment analysis tool that changes the way people view, think and act when it comes to their long-term investment strategy. DRAFT connects directly to a user’s various bank and investment accounts to show them how the performance, asset allocation, and annual fees of their portfolio compares to that of top performers in their category. Through a simple side-by-side comparison, the user can quickly find opportunities to fill allocation gaps and lower fees. DRAFT makes it easy for users to switch to a better long-term strategy through its strategic online investment partners.

Presenters: Co-founders Brad Lawler, president; Jason St Peter, CEO

IMG_8872

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Product Launch: May 2015

Metrics: $650,000 Seed round; 10 employees; pre revenue, 4,000 and growing user waitlist
Product distribution strategy: Direct to Consumer (B2C)

HQ: Austin, Texas
Founded: October 2014
Website: draftapp.com
Twitter: @draftinvest

Finovate Alumni News

On Finovate.com

Around the web

  • D3 Banking unveils its new mobile app.
  • American Banker takes a look at itBit and its plan to become a trust company in New York State. See itBit at FinovateSpring 2015.
  • PYMNTS.com’s roundup of the “Mobile Wallet Wars” features LoopPay.
  • Everett Blog previews version 3.0 of Encap’s smart authentication solution.
  • Financial-SpreadBetting.com interviews Sarah Brylewski, managing director at Ayondo.
  • BioCatch and Mistral Mobile win spots on Red Herring 2015 Top 100 Europe. See Mistral Mobile at FinovateSpring 2015 in San Jose.
  • TradeHero releases version 3.1.0 of its Android app.
  • DRAFT featured at LaunchingNext. See DRAFT’s Finovate debut at FinovateSpring in San Jose next month.
  • NICE Systems partners with Capgemini to deliver a new Robotics Automation Hub.
  • Washington Business Journal interviews Blake Hall, CEO of ID.me.
  • peerTransfer to provide its international tuition payments service at another 56 educational institutions.
  • TechCrunch’s guest column on “industry convergence” in financial services highlights Telenor Banka.

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.