Finaeos Debuts Back Office and Capital Raise Compliance

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

FS2015_Finaeos_logoFinaeos debuted its compliance automation:

Finaeos Automates the Back-Office and Capital Raise Compliance.

• Private placement memorandums (full version control for legal and disclosure updates)
• Automated/fillable forms and workbooks
• Subscription documents and, when required, promissory note in debt offerings
• KYC “Know Your Customer”
• KYP “Know your Product” (tests for agents)
• AML “Anti Money Laundering” with specific considerations to BSA and the U.S. Patriot Act
• Digital signatures upon EDGAR termination with heightened consideration of website filing and modernization
• Mobile access with consideration of OCIE Cyber Security Initiative April 15, 2014: National Exam Program

Presenter: Tim Vasko, CEO and founder

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Metrics: 42 employees between Canada, our self-owned India Corporation, and the United States; self-funded

HQ: Victoria, British Columbia, Canada
Founded: January 2015

Aurora Financial Systems Presents NOTE, a Vertically Integrated Budgeting Solution for FIs

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

Aurora_NOTE_logoAurora Financial Systems is demoing NOTE, a budgeting solution to help consumers manage discretionary spending.

NOTE is the first vertically integrated budgeting solution for Financial Institutions. Unlike other products, which promote leaving your bank for their products, NOTE was created to manage your discretionary spend and compliment the FIs checking and savings accounts. We use MX’s award-winning budgeting solution and our processor is directly connected to provide real-time budget updates.

Presenters: Scott Stagg, CEO and founder, and Chris Melendez, chief strategy officer

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Product Launch: April 1, 2015

Metrics: $15M raised to date; 15 employees; $2M annual revenues; limited users and website traffic as we’ve previously focused on B2B incentive card business
Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B), through financial institutions

HQ: Purchase, New York
Founded: November 2009
Website: aurora-fs.com

Credit Sesame Launches Co-branded Service

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

Credit Sesame launched its Siri integration and co-branded offering:

Credit Sesame makes it easier than ever for consumers to access, monitor, and manage their credit and loans, and to protect their identity. Our latest innovation fully integrates our mobile technology with our award-winning web service, to bring the convenience of tracking finances and higher security to an increasing number of mobile users on the go. Through the first of its kind Siri integration in the financial services industry, mobile app users can simply ask Siri about their credit score and more, to check on the status of their credit and financial information with the tap of a thumbprint. It’s that easy.

Presenters: CEO Adrian Nazari and Jesse Levey, head of product

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Product Launch: Mobile app: 22 Jan 2015; co-branded service: May 2015

Metrics: Money Raised: $44M; registered users: 5.5M; loans under management: $128B; employees: 50+
Product distribution strategy: Direct to Consumer (B2C), through financial institutions, through other fintech companies and platforms

HQ: Mountain View, CA
Founded: January 2010
Website: creditsesame.com
Twitter: @CreditSesame

 

Dream Payments Debuts its Future-proofed mPOS Solution

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

DreamPayments_logo_FS15Dream Payments debuts its mobile point-of-sale solution:

Dream’s cloud-based payment platform combined with its mobile point-of-sale device allows merchants to accept credit and debit cards, access rich analytics and reports, and provide digital receipts to customers. Dream’s solutions are secure, EMV compliant, and accept Contactless and CHIP payment cards. The solution includes a free mobile app, payment terminal, and comprehensive web-based merchant portal enabling merchants to view their account profile and all transactions and manage settlements and debits. The mobile point-of-sale solution easily integrates with third-party applications extending the breadth and depth of the solution and leveraging existing technology investments.

Presenters: COO Anant Tailor and Christian Ali, VP of business development

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Product Launch: H1 2015

Metrics: 20+ employees
Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B), through financial institutions, through other fintech companies and platforms

HQ: Toronto, Ontario, Canada
Founded: June 2014
Website: dreampayments.com
Twitter: @dreampayments

Kofax Demonstrates its Mobile Capture Platform for Onboarding

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

FS15_Kofax_logoKofax showed how its Mobile Capture Platform onboards customers in real time:

Kofax is demonstrating how its Mobile Capture Platform can onboard customers with the right product at the right time with the right risk-assessment profile in a completely automated fashion. The mobile account-opening solution incorporates mobile-image capture, authentication, workflow, real-time decisioning, product selection, and digital signature capture to “seal the deal.” Kofax’s platform combines the speed and convenience of mobile to enhance the user experience, with the security and confidentiality of a traditional branch experience. This is the only platform in the market that incorporates all of the critical components needed to make real-time, intelligent and risk-balanced decisions using a mobile device.

Presenters: Diane Morgan, senior business development manager, and Dimitri Snowden, solutions architect

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Product Launch: January 2014

Metrics: Subsidiaries in 30 countries; 1,200 employees; 800+ channel partners; products available in 70+ countries; 20,000+ customers; NASDAQ & London Stock Exchange (KFX); $266.3M in revenue; $46.3M adjusted EBITA
Product distribution strategy: Direct to Business (B2B), through financial institutions

HQ: Irvine, California
Founded: January 1985
Website: kofax.com
Twitter: @Kofax

The Slice Platform Enables FIs to Make the Most of Customer Purchase Data

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

FS2015_Slice_logoSlice Technologies‘ platform helps banks access and take advantage of customer online purchase data.

The Slice Platform lets financial institutions build new features and functionalities based on a visitor’s online purchase profile, using the largest and most comprehensive set of online purchase data anywhere. Slice’s customer-partner implementations are white-label applications of Slice data that create new personalization, monetization, retention and advertising opportunities.

Harpinder Singh, standing, CEO and co-founder

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Product Launch: September 2014

Metrics: The Slice panel is comprised of more than 2M users; Slice has recorded data from more than 2M merchants; Slice’s technology recognizes e-receipts from as far back as 2006; the popular Slice shopping app is frequently featured in the app stores and averages 4.5 stars.
Product distribution strategy: Direct to Business (B2B), through financial institutions, through other fintech companies and platforms

HQ: Palo Alto, California
Founded: 2010
Website: slice.com
Twitter: @HelloSlice

Vanguard Debuts Diversification Visualizer

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

Vanguard described its diversification tool:

“The Diversification Visualizer quantifies and visualizes mutual fund diversification in 3D to help investors build well-diversified investment portfolios.”

Presenters: John Buhl, principal, retail digital services, and Mike Padilla, senior manager, retail digital strategy

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Website: vanguard.com

 

Token Creates a Fast Payment Ecosystem

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

FS2015_Token_logo_snagToken showed its payment ecosystem that uses end-to-end secure protocols with digital signatures:

For the past 2,500 years, our payment rails have relied upon the use of shared secrets, such as passwords, account numbers, payment card numbers, and paper signatures. Shared secrets are the root cause of the never-ending security problems with payment cards, checks, and ACH. Tokenization is a band-aid, not a cure. The only real way to create a secure, fast payment ecosystem is to eliminate the use of all shared secrets by using end-to-end secure protocols with digital signatures. This has never been done before anywhere in the world. It is what sets Token apart from all other payment systems.

Presenters: CEO Steve Kirsch and CTO Yobie Benjamin

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Product Launch: May 2015

Metrics: 10 employees; launching in May 2015 with a large public utility; over $50B in sales leads
Product distribution strategy: Direct to Business (B2B), through financial institutions, through other fintech companies and platforms

HQ: Palo Alto, California
Founded: January 2, 2015
Website: Token.io
Twitter: @token_io

LendKey’s MarketPlace Creates Low-cost Lending Options

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

LendKey debuted its MarketPlace that creates and manages online lending programs for banks:

Leveraging LendKey’s experience in building real-time loan-origination systems, the LendKey MarketPlace will empower consumers to browse, customize, compare and complete the entire loan-shopping process via a single interface. This represents a dramatic step forward from current consumer-loan marketplaces which collect consumer information, and may provide some pricing information, but eventually transfer the borrower elsewhere to complete and submit the loan.

Presentrts: Vince Passione, CEO and founder, and Strati Papageorge, chief product officer

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Product Launch: June 2015

Metrics: LendKey’s online lending platform is used by over 300 credit unions and banks and has raised more than $750M in funding for loans to more than 35,000 borrowers. Our success to-date is due in great part to some key partnerships, including CUNA Strategic Services and Western Independent Bankers (as an endorsed service provider); numerous state credit-union leagues and bank associations, and consumer financial service providers like Intuit (Mint.com) and Credit Karma. LendKey raised $23.5M in equity from backers, including Draper Fisher Jurvetson, Updata Partners, and DFJ Gotham Ventures. We have more than 100 full time employees split between our New York City headquarters and an office in Cincinnati, Ohio.
Product distribution strategy: Direct to Consumer (B2C); Direct to Business (B2B)

HQ: New York City, New York
Founded: October 2007
Website: lendkey.com
Twitter: @LendKey

Context Relevant Introduces its Advanced Analytics Platform for Financial Services and Security

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

Context Relevant is the company that helps FIs handle big data in real-time.

Context Relevant’s automated, predictive analytics technology is the only system with sufficient scale to automate, compute, and analyze petabytes of structured and unstructured data in real-time, incorporating findings back into its modeling process automatically. These adaptive learning systems’ ability to make sense of seemingly unrelated data, at scale and real-time, is redefining industries from finance to aeronautics.

Presenters: Divanny Lamas, standing, VP of product management; Konstanin Getmanchuk, financial products

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Metrics: Context Relevant employs more than 65 people across three offices located in Seattle, New York City and Palo Alto and expects to double its size in 2025. The company raised over $42M in a Series B-1 round in Q3 2014.

Product distribution strategy: Direct to Business (B2B), through financial institutions

HQ: Seattle, Washington
Founded: January 2012
Website: contextrelevant.com
Twitter: @contextrelevant

Shoeboxed Receipt Capture Moves Beyond Paper Receipts

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

Shoeboxed showed its expansion into email receipts:

Receipt capture is becoming a standard banking feature: Taking pictures of receipts with a mobile phone that are then matched to the corresponding credit card transaction was just the beginning. We are expanding into pulling email receipts into online and mobile banking apps for people automatically, extracting the actual items people bought from e-receipts, and helping fraud protection.

Presenters: Tobi Walter, COO and co-founder, and Alex Anderson, business development manager

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Product distribution strategy: Through financial institutions

HQ: Durham, North Carolina
Founded: May 2007
Website: shoeboxed.com
Twitter: @Shoeboxed

DriveWealth’s Brokerage as a Service Platform Brings U.S. Markets to Global Investors

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

DriveWealth logo copyDriveWealth demonstrated its “Brokerage as a Service” platform:

DriveWealth’s innovation is to offer “Brokerage as a Service.” By way of our full-technology stack and regulatory licenses, financial companies that currently offer investing in their local markets (i.e., India, China, Latin America, United States) can now offer their clients the ability to trade U.S. stocks in a low-cost, friction-free environment. We present to these partners embeddable HTML5 “widgets” for account opening, funding, compliance document upload and trading. Partners can use these multilingual plug/play widgets as well as industry standard APIs (RESTful and FIX) to easily add U.S. stocks to their offering. We take care of all the “hard stuff” including trade execution, regulatory compliance, safety of funds, and clearing of trades.

Presenters: Michael Fitzgerald, head of corporate strategy, and Aric Rosenbaum, chief technology officer

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Product Launch: April 2015

Metrics: 25-30 employees; $10M raised to date; 40,000+ registered users/customers
Product distribution strategy: Direct to Business (B2B), through financial institutions, through other fintech companies and platforms, licensed

HQ: Chatham, New Jersey
Founded: May 2012
Website: drivewealth.com
Twitter: @drivewealth