Finovate Alumni News — February 19, 2013

  • Thumbnail image for Finovate-F-Logo.jpgRescuecom highlights TransferWise as low cost, currency conversion option.
  • Acculynk‘s Payzur brings person-to-person payments to consumers on PULSE debit/ATM network.
  • Compass Plus helps Russian-based FI SwitchMaster reach processing benchmark.
  • ekmPowershop announces partnership with EZBOB.
  • American Banker reports: Planwise to Participate in Yodlee’s Incubator Program.
  • BillHighway hires new CFO.
  • Arroweye Solutions reports 40% growth due to 175% uptick in open loop card production, added 27 new clients in 2012.
  • Bill.com to provide Frantopia with accounting services.
  • Prosper unveils new protection for lenders.
  • The Next Web reports: Tradeshift adds support for accounting services Sage and Kashflow, helping businesses get paid.
  • Forbes considers how SoMoLend provides capital to small businesses.
  • VentureBeat reports SecondMarket is partnering with CircleUp to allow investors to invest in up-and-coming consumer product businesses.
  • Thomaston Savings Bank selects Q2ebanking’s full suite of ebanking solutions.
  • HiddenLevers launches portfolio stress testing app to help advisors generate leads.
  • Fiserv awarded Best-in-Class rating in 2012 Anti-Money Laundering Technology Review.
  • Gifting app Wrapp selects Braintree to power payments.
  • Pageonce adds person-to-person payment functionality to mobile app.
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.

ACI Worldwide Buys Online Resources, FIS Scoops Up mFoundry

Thumbnail image for Finovate-F-Logo.jpgIt was a big day for Finovate alumni. ACI Worldwide and FIS, themselves both Finovate alums, rang the register on a couple of smaller fintech companies they hope will make them even bigger players in the online banking and payments world.

Online Resources Bought by ACI Worldwide

In an all-cash deal worth $260 million, the purchase of Online Resources will help ACI Worldwide bring broader online banking and full-service bill payment options to its network of financial institutions.   

The deal is also expected to increase the company’s customer base, with 1,000 banks, billers and other FIs coming along with Online Resources into the ACI Worldwide fold.

A look at the numbers:

  • Online Resources provides services to more than 1,000 FIs and billers
  • It processes more than 240 million bill payment transactions each year
  • It connects more than 9,000 billers
  • The combined entity anticipates cost synergies (i.e., saving in operating expenses) of more than $19 million.
  • Common shareholders will receive $3.85 per share, an 83% premium over yesterday’s closing price

FIS Purchases mFoundry

FIS’s decision to buy the 78% of mFoundry that it did not already known is seen as an opportunity for the company to assert itself in the mobile arena, while expanding its customer base in the process.

FIS already has a sizable footprint when it comes to banking and payments technology. And in bringing mFoundry fully on board, the company has helped fuel optimism about the prospects for greater innovation and “convergence” among the various players within the industry.

More on the deal:

  • mFoundry serves more than 800 banks and credit unions across the country
  • The acquisition will cost FIS $120 million (valuing mFoundry at about $160 million) 
  • The deal is expected to close by the end of March
  • Founded in 2004, mFoundry’s clients include Bank of America, Zions Bank, and more than a third of the top-50 financial institutions in the U.S.
  • FIS serves more than 14,000 FIs in more than 100 countries

mFoundry and Online Resources both participated in our very first Finovate back in 2007. mFoundry was also on stage more recently at FinovateFall 2010.

Finovate Alumni News– January 31, 2013

  • Finovate-F-Logo.jpgTechCrunch reports Braintree’s New Payments Layer Lets Users Sign Up For Apps Without Re-Entering Their Credit Card Data.
  • Mitek and Allied Payment Network Expand Availability of Mobile Photo Bill Pay.
  • Backbase and iQStore sign partnership agreement for Russian market.
  • Xero integrates with Harvest, a time tracking and invoicing software company.
  • CNBC’s Squawk on the Street features BOKU.
  • HID Global partners with BehavioSec to improve fraud detection system.
  • FIS acquires mFoundry for $120 million.
  • Facebook integration, customer management features added to Flint mobile app.
  • ACI Worldwide to buy Online Resources for more than $120 million.
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.

Suncorp Selects FIS for ATM and POS Switching

FISLogo.jpgThe ability to manage both POS and ATM networks on a single platform has won FIS a deal with Australia’s Suncorp bank. In addition to managing the bank’s POS and ATM networks, FIS’s CONNEX will also be used to help the bank’s ongoing EMV rollout efforts.<

CONNEX helps financial institutions facilitate terminal driving, transaction acquiring, switching and authorization. The migration of Suncorp’s ATM transactions is planned for the first half of 2013.

A few interesting facts about Suncorp:

  • The fifth largest bank in Australia with more than $60 billion in assets
  • One of the top 25 companies in the Australian Stock Exchange
  • Has 450 offices and branches in Australia and New Zealand, and 2200 ATM access points

FIS has relationships with more than 14,000 institutions in more than 100 countries. See FIS’s most recent Finovate demos here and here.

Finovate Alumni News– January 9, 2013

  • Gartner highlights Comarch Commission & Incentive in recent report.
  • FIS announces expanded relationship with Modern Woodmen Bank.
  • TomTom uses Keynote DeviceAnywhere for real-time performance monitoring in Paris.
  • The New York Times features Simple’s approach to customer service.
  • Check Point Software Technologies introduces new ZoneAlarm 2013 security product line, integrates Facebook Privacy Scan.
  • MyBankTracker looks at Movenbank’s new site layout. Come see Movenbank’s live demo at FinovateEurope Feb 12 and 13.
  • Daily Tekk interviews Brendon McQueen, CEO of Tuition.io.
  • eToro launches new version of its WebTrader platform.
  • Dwolla introduces new look, allows users to apply for higher transaction limits.
  • Cardlytics opens office in San Fran, appoints new SVP of Marketing. Come see Cardlytics demo at FinovateEurope next month.
  • CNBC interviews Barry Silbert, SecondMarket CEO, to understand why entreprenuers avoid IPOs.
  • Bank Systems & Technology considers how NICE’s newest solution uses voice recognition to prevent fraud. Come see NICE demo its new tech live at FinovateEurope in London February 12 and 13.
  • Biometric Update highlights a year of new customers and pilot projects from VoiceTrust.
  • TechCrunch features a video interview with Betterment CEO and founder, Jon Stein.
  • Experian announces deal to provide address and mortality screening services to Guardian Financial 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.

Finovate Alumni News– January 7, 2013

Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpg

  • ACI Worldwide launches ACI Money Transfer System 5.0.
  • Suncorp Bank chooses FIS to manage ATM and POS transactions
  • 500Friends to integrate LoyaltyPlus platform with Bazaarvoice.
  • Financial Edge Community CU partners with SaveUp.
  • Mitek issued new patent for “Methods for Mobile Image Capture and Processing of Documents”.
  • The Financial Brand checks out the “Simple” way of banking.
  • The New York Times looks at SoMoLend’s take on crowdfunding, seeking out institutions to serve as lenders.
  • New York Times looks at Enloop’s hassle free business plan writing service.
  • The Telegraph highlights TransferWise as a cost-saving option for overseas money transfers.
  • Luxembourg’s Nordea Bank picks Temenos to standardize IT infrastructure.
  • GMC Software Technology helps Gala Bingo move to “third generation” bingo tickets.
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 14, 2012

  • Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgBellaDati opens its first international office in Seoul.
  • Klarna co-founder and deputy CEO talks Square and the business of payment processing.
  • Sparkroom wins Readers’ Choice Top Product award.
  • Simple doubles per-transaction limit on its debit cards.
  • Investors Business Daily profiles FIS chairman and CEO Frank Martire.

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 11, 2012

  • From online to the desktop, Bill.com is now fully integrated with Quickbooks.
  • Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgFIS announces deal with VW Credit for North American loan and lease processing.
  • New team at Capital Acess Network to build online lending engine, CapTap.
  • MasterCard launches ‘cash electronification’ service rePower in Europe.
  • Monitise and Intuit partner to bring Mint to financial institutions.
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.

Infographic: Internet Banking Vendor Timeline, 1997 to 2012

Here is a monster infographic from our friends at Mindful Insights LLC, a boutique consulting firm in the digital finance space (previous post). You can click on the image for a larger version, or better yet, grab the PDF version here. We appreciate the opportunity to publish it.

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Monitise Signs 5 Year Partnership Agreement with FIS

MonitiseLogo.jpgFISLogo.jpg

Mobile banking platform company, Monitise and banking and payments technologies provider, FIS have entered into a five year strategic partnership agreement: 

“Under the terms of the five-year deal, which involves multi-million dollar per annum revenues, FIS and Monitise have created an agile mobile development and deployment team that will help banks and other financial institutions defend and extend their role in the payments industry by creating secure and innovative new products and services.'”

While the two were previously in a joint venture agreement, Monitise bought out the joint venture a little over a month ago, leaving FIS with a 3.3% equity stake.

To learn more about Monitise and FIS, watch Monitise’s Finovate 2007 demo and FIS FinovateFall 2010 demo.

BancVue Cracks the American Banker FinTech 100

IMG_1080.JPGThe FinTech 100, a list of the top revenue-grossing fintech firms, was announced Wednesday at BAI Retail Delivery

Nine Finovate alumni made the cut, including BancVue, debuting at number 95. Pictured to the right are James Ladas and Gabe Krarcek from BancVue. 
Here are the Finovate alumni, listed according to rank:

2011 Rank: 1
2010 Rank: 3
Fiserv

2011 Rank: 2 
2010 Rank: 1
2011 Rank: 10
2010 Rank: 11
2011 Rank: 18
2010 Rank: 18
2011 Rank: 19
2010 Rank: 20
2011 Rank: 24
2010 Rank: 15
2011 Rank: 34
2010 Rank: 34
2011 Rank: 62
2010 Rank: 76
2011 Rank: 95
2010 Rank: NR
See the full list here. To learn how the rankings are calculated, see the American Banker article

Finovate Alumni at BAI Retail Delivery Conference

BAIIMG2.jpg

The BAI Retail Delivery conference begins tomorrow with 29 Finovate alumni participating in sessions and/or exhibiting on the trade show floor.
Session Speakers
  • Tuesday, Global Game-Changer Session
    Speaker: Jim Taschetta from FreeMonee
  • Wednesday, Technology for Business Summit 
    Speaker: Mitch Jacobs from On Deck Capital
  • Wednesday, Technology for Business Summit Session 
    Speaker: David Eads from Kony Solutions
  • Thursday, Technology for Business Summit Session
    Speaker: Eric Connors from Yodlee
  • Thursday, Marketing & Product Management Summit Session 
    Speaker: Rod Witmond from Cardlytics
Exhibitors 
BAI Mobile Link
Mobile Link Panel Discussions
Solutions Theatre
Jim Bruene and I (julie@netbanker.com) will be in attendance and will update the blog and Twitter with new developments throughout the event.