Dwolla Introduces Merchant Directory, “Places”

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Alternative payment network, Dwolla introduced new features today to make it easier to find merchants that accept Dwolla.

Places
Places, found in a tab on the Dwolla dashboard, enables users to search for merchants by entering key words. The screenshot below shows results from the search for a gym.

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Want button
Along with Places, Dwolla is introducing the Want button, which gives users a say into where they want to be able to pay using Dwolla. Dwolla benefits from those suggestions because it informs them where they should focus their networking efforts.

Because the features are still in beta, they may be a bit buggy. Dwolla CEO Ben Milne encourages users to “please break this” to help find out where the bugs are.

To learn more about Dwolla, watch its FinovateSpring 2012 demo.

Finovate Alumni News– June 25, 2012

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgNetbanker highlights Simple’s Safe to Spend balance feature.
  • Money Week discusses non-traditional banking methods such as Zopa and Wonga.
  • Radware and Check Point Software Technologies form partnership.
  • miiCard wins “Technology Innovation in Financial Services” at the 2012 Digital Technology Awards.
  • Mint.com partners with Zillow to give users home valuation reports.
  • Monitise seeks Bankers for possible LSE switch.
  • Mobile Payments Today reports Dwolla is out to change the way money moves.
  • Bill.com wins Stevie Award for customer service.
  • Russian NOMOS-BANK launches Figlo Platform for its premium banking customers.
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– June 18, 2012

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgSimple sends out a wave of new beta invites, including one to Square’s co-founder.
  • The Financial Services Club explores how Fidor Bank is innovating in the traditional banking space.
  • Wall Street Journal looks at Doxo’s role in the bill payment space.
  • Barrons examines how SigFig’s portfolio managers work.
  • American Banker reports BankSimple Aims to Simplify Opening Online Accounts using Andera’s SDK.
  • The Wall Street Journal examines innovation in fintech.
  • Dwolla’s FiSync goes live.
  • Geezeo signs Missouri Credit Union.
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.

Quid Puts FinovateSpring Companies through its Big Data Algorithm

Quid, a San Francisco-based data analytics company, recently compared the FinovateSpring 2012 presenters against its database of 800 financial services companies. The following were determined to be the most unique and valuable (see methodology below): 
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Methodology per Quid:

First, we identified 800 financial services companies in our database hat have raised capital in the past few years, including all of the Finovate presenters. Then, we processed thousands of documents related o these companies (such as patents, job postings, filings, and press releases) to identify key terms and phrases used to describe them. We created the network map by connecting nodes (companies) by a line when here is an overlap in the key terms and phrases used to describe them. Next, we applied a clustering algorithm to detect emerging themes, revealed in the color key.

We then ranked the Finovate presenters by a network measure that filters for companies that are recombining existing technologies (a measure of innovation) and have raised high levels of capital (a measure of market worth). The top 7 companies are highlighted in the map, sized by innovation score.

Finovate Alumni News– June 1, 2012

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgGoogle Director, Russ Laraway, named SVP of Merchant Sales at FreeMonee.
  • American Banker describes the effect of Plastyc’s Kindle Fire app on underbanked consumers.
  • Business Insider points out how SimpleTution & Cartera Commerce are hacking the financial system.
  • IP Commerce launches app development challenge for next-gen POS app.
  • Bank Technology News compares how Plastyc and Mitek use tech to serve the underbanked.
  • American Banker takes an in-depth look at SimpleTuition’s SmarterBank.
  • Dwolla builds payment fees comparison tool.
  • Cachet Financial Solutions and eDOC Innovations partner to provide mobile deposit to Credit Unions.
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 29, 2012

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgLovemoney.com releases new iPhone app.
  • GeekWire examines Bobber Interactive’s move to hire a behavioral economist.
  • Des Monies Register reports Entrepreneur magazine includes Dwolla in ‘100 Brilliant Companies’ list.
  • TechCrunch reports PayPal rolls out to 15 more national retailers, announces deals with 6 top POS software and terminal makers.
  • Payments Journal reports Acculynk to Pilot P2P Product.
  • Kabbage named Red Herring Americas Top 100 Winner.
  • CHOICE Savings Division of IDEON Financial Solutions releases new self-service multi channel solution.
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 23, 2012

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgArroweye Solutions announces 1Q of 2012 was its largest with 9 new clients & sales of over 2 million cards.
  • Check out this month’s CEO interview with Lending Club’s Renaud Laplanche.
  • ValidSoft partners with Adeptra to power a detection & prevention application that helps mitigate SIM card fraud.
  • eToro announces launch of mobile Trade Alerts app that creates actionable trade notifications.
  • Fast Company considers how Tradeshift could disrupt the banking industry.
  • TechCrunch reports: Wall Street Survivor Gamifies Financial Education With Help From Bunchball.
  • AdvisorOne reports BrightScope to propose universal performance standard for financial advisors.
  • Internet Evolution reports: Dwolla Could Speed Online Payments, If Banks Go Along.
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 16, 2012

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgBill.com integrates with NetSuite to deliver seamless, cloud-based financial management.
  • Inc.well interviews Candace Klein, CEO of SoMoLend, about crowdfunding.
  • Virtual Piggy partners with World Industries.
  • American Banker considers if Dwolla is a threat or opportunity for banks.
  • Soshable covers Klarna, CoverHound, Giftly, ZipZap, BillGuard, Dwolla and Virtual Piggy.
  • The Next Web takes a closer look at the tech that powers LearnVest.
  • BCSG partners with Sage to offer MyBusinessWorks customers the bookkeeping application Sage One Accounts.
  • ValidSoft announces partnership with Spindle to provide advanced payments security solutions to US-based customers.
  • Fast Company names Laura Mather, Founder and Chief Visionary of Silver Tail Systems, as one of the Most Creative People in Business.
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 2012 in the Press

Here’s a look at press coverage from FinovateSpring 2012 in San Francisco last week. For comprehensive coverage, be sure to check out Erin McCune’s live blog on PaymentsViews, which covers all 63 presenting companies:

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2 Minute Finance
2MF @ Finovate Spring 2012 Conference
by Bobby Lee
Link

BillGuard Demo @ Finovate Spring 2012 Conference (Day 1)
by Bobby Lee
Cardlytics Demo @ Finovate Spring 2012 Conference (Day 1)
by Bobby Lee
Concur Demo @ Finovate Spring 2012 Conference (Day 1)
by Bobby Lee
Flint Mobile Demo @ Finovate Spring 2012 Conference (Day 2)
by Bobby Lee
Mitek Systems Demo @ Finovate Spring 2012 Conference (Day 1)
by Bobby Lee
TIO Networks Demo @ Finovate Spring 2012 Conference (Day 1)
by Bobby Lee
WattzOn Demo @ Finovate Spring 2012 Conference (Day 1)
by Bobby Lee
Bank Innovation
5 Finovate Demo-ers’ News Catching Our Eye
by Mary Wisniewski

4 More Finovate Products We Like
by Mary Wisniewski

Bank Technology News
Best of Finovate Spring Day 1
by Penny Crosman
Best of Finovate Spring Day 2
by Penny Crosman

Dwolla Pitches Fast Fund Transfers, but Bank Participation is Vital
by Sean Sposito
Edo to Harness Payment Data to Spur Consumer Spending
by Victoria Finkle

WattzOn Helps Banks Help Customers Save on Energy Bills
by Sean Sposito

BankersLab Blog
CreditLab Launch: Reactions and Responses

BankNXT
Finovate, Simple, and Re-Imagining Banking Applications
by Bradley Leimer
Live at FinovateSpring 2012- day 1
by Jelmer de Jong
Live at FinovateSpring 2012- day 2
by Jelmer de Jong

BetaKit
CoverHound Debuts Comparison Tool for Auto Insurance 
by Cheronne Thurab 

Business Insider
Finally, a Mobile App That Helps You Save Money: Meet Urge
by Willy Staley

Business2Community
What Does $4.6 Billion in Coupon Savings Have to Do with Savvy Consumers?
by Andre Bourque

C’est pas mon idée!
FinovateSpring 2012: quoi de neuf?
by Patrice Bernard

Currency Marketing Blog
Four Conference in Four Days
by Tim McAlpine

Credit Union Times
MoneyDesktop Named Best of Show at FinovateSpring Conference
by Natasha Chilingerian

Daily Disruption
Flint Mobile Announces Beta Launch at Finovate and Closes $3 Million Round of Financing
by Tim Rygh

The Daily Guardian (BillGuard’s blog)
Financial Community Awards BillGuard Best Of Show at Finovate
by Maryanne

DCisions Blog
DCisions at Finovate Spring 2012
by Kritika Ashok

Des Moines Register 
Dwolla offers software for free
by Adam Belz

Des Moines Register Blog
Dwolla, Social Money earn praise at national banking conference
by Marco Santana

Exc
elsior
Kuspit, el primer Finovate mexicano
by Alicia Salgado

Experian Blog
Business IQ Express… what is the media saying?
by Roslyn Whitehurst 

FamZoo Blog
Finovate Winners
by Bill Dwight

Finextra
Flint taps phone cameras for card payments
SoMoLend closes $1.17 million seed round

Forrester Blog
Finovate Spring 2012: Digital Financial Services Innovation
by Tiffani Montez

FP Pad
[Video Spotlight] inStream Solutions CEO Alex Murguia at FinovateSpring 2012
by Bill Winterberg
[Video Spotlight] iQuantifi CEO Tom White at FinovateSpring 2012
by Bill Winterberg
[Video Spotlight] Sarah Carter of Actiance at FinovateSpring 2012
by Bill Winterberg

Iconowatch
Accelerating Innovation at Finovate 2012
by Hans Eisenbeis
Investment News
Personal Capital launches iPhone app
by Davis Janowski
Lazy Man and Money
What’s Hot and What’s Not from Finovate 2012
Mercury News
Money Goes Mobile 
Montreal Gazette
Montreal’s Wall Street Survivor teaches about investing
by Jason Magder
MyBankTracker
Can FinTech Stop You from ‘Showrooming?’
by Willy Staley
MoneyDesktop: How Personalized Deals Shine in PFM Tools
by Simon Zhen
Save Your Wallet, and Maybe the Planet, with WattzOn
by by Willy Staley
On Deck Capital Blog
Photo Journal: Our Finovate Demo
PaymentsNews
Highlights from Finovate Spring 2012 San Francisco 
PaymentsViews
Live Blogging Finovate Spring 2012 San Francisco
by Erin McCune
The Paypers
ZipZap rolls out CashCade payment service
PaySimple Blog
PaySimple at Finovate
by Sarah Jordan
PC World
New Web Apps and Services for Business
by Yardena Arar
QuidLabs
Finovate Best in Show
by Aliisa Rosenthal
SecurityPark.net
BehavioSec voted ‘Best of Show’ for biometric solution by audience at Finovate Spring, San Francisco
Silicon Prairie News
With upgraded FiSync, Dwolla cuts 3-5 day wait to real-time
by Michael Stacy
Silver Tail Systems Blog
Finovate Spring Demonstrates a Growing Richness in Online Interactions
by Laura Mather
Social Lending Network
Roundup of Social Lending News – May 12, 2012
by Peter Renton
TechCrunch 
Capital One Snags Mobile Savings Startup BankOns, Team Moving To Capital One Labs
by Sarah Perez
Flint: A New Mobile Payment App For Small Businesses Picks Up $3M From Storm, True Ventures
by Ingrid Lunden
How Personal Capital Wants To Bring Money Management Into The Internet Age [TCTV]
by Colleen Taylor
Nearing The 1M User Mark, Expensify Adds ‘Trips’ Feature To Mobile Apps
by Colleen Taylor
The Anti-Groupon? Edo Launches Real-Time Local Offers Platform, Tied To Your Bank Card For Instant Credits
by Sarah Perez
Tradestreaming
List Of Winners Of Top Fintech Conference, Finovate
by Zack Miller
World News (wn.com)
Instream Solutions Ceo Alex Murguia At Finovatespring 2012

FinovateSpring Best of Show Winners Named

Our fifth annual FinovateSpring in San Francisco concluded a few hours ago. After seeing 63 demos over two packed days, the audience voted for their three favorites each day. The top seven overall were named Best of Show (see notes).

The winners (in alphabetic order):

  • BehavioSec for its new security layer based on user typing/swiping patterns
  • BillGuard for its card charge dispute platform, BillGuard FI
  • Dwolla for its FISync service to enable banks to originate real-time payments
  • iQuantifi for its new financial planning & advice tools
  • MoneyDesktop for its PFM platform and integrated “deals”
  • Personal Capital for its iPhone app and interbank funds transfer
  • SoMoLend for its P2P lending platform

We’ll have videos of all 63 demos posted at Finovate.com as fast as possible (probably 2 weeks out).

Thanks to everyone who presented, attended, tweeted, swapped biz cards, schmoozed and helped push fintech forward. You are the greatest! 

———-

Notes on methodology
1. Only audience members NOT associated with demoing companies were eligible to vote. Finovate employees did not vote.    
2. Attendees were encouraged to note their favorites as the day went on and choose three favorites from just the demos of that day. Ballots were turned in at the end of the last demo session each day.  
3. The exact written instructions given to attendees: “Please rate (the companies) on the basis of demo quality and potential impact of the innovation demoed. Note: Ballots with more than three companies circled will not be counted.”  
4. The seven companies appearing on the highest percentage of submitted ballots were named Best of Show. 
5. Go here for a list of previous Best of Show winners.

Dwolla Releases New FiSync Iteration

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To kick things off, Dwolla launched a new iteration of FiSync:

“Dwolla is releasing the newest iteration of FiSync, the company’s revenue-generating financial services product.”

Product Launched: May 2012
HQ Location: Des Moines, IA
Company Founded: May 2008
Metrics
  • Funding:
    • Series B: $5 million (Union Square Ventures, Thrive Capital, Village Ventures & more)
    • Series A: $1.3 million
  • Employees: 20+
  • Users: 100,000+
  • Merchants: 10,000+
Website: dwolla.com
Introducing Ben Milne (Founder and Builder):

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First Quarter 2012 Funding for Finovate Alumni, $150 Million Raised

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Since we are nearing the end of the first quarter, we wanted to look back at all of the Finovate alums who have raised funding over the past few months.

Here’s the month-by-month breakdown:

January — $25 million raised by 3 companies

February — $57 million raised by 5 companies
March — $68 million raised by 3 companies

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