- The deal is expected to be complete by September 2011.
- The all-cash $465 million purchase price is more than six times CashEdge’s projected 2011 revenues of $75 million.
- Fiserv’s last large acquisition was CheckFree for $4.4 billion in 2007, which was 4.5 times its expected revenue. In comparison, Jack Henry & Associates’ $300 million purchase of iPay Technologies last year was 5.5 times iPay’s revenue.
- The expected consolidation of CashEdge’s Popmoney P2P transfer service (200 signed clients) and Fiserv’s ZashPay (700 signed clients) will create a stronger competitor to bank-owned clearXchange.
Fiserv
PayPal and Cortera Take Charge in May’s Web Traffic
Each month we survey the Web-traffic performance of our alums, using data from Web-analytics company Compete to review the sites they operate.
Out of 255 alumni, 62 (24%) had more than 10,000 unique U.S. visitors in May 2011 (see tables below). Of the 62 reviewed, 25 (40%) had fewer visitors than in the previous month and 28 (45%) saw a decline year-over-year.
Private Companies
The 44 private companies are as follows:
Notable successes:
- Cortera saw the highest number of unique U.S. visitors in May, with almost 2 million hits.
- HelloWallet experienced the greatest month-over-month growth, with more than four times as many visitors.
- Betterment saw its traffic increase an impressive 38 times from May of last year.
Private Finovate Alumni With More Than 10,000 Unique Visitors in May 2011
Source: Compete.com retrieved June 29, 2011
Public Companies
The 18 public companies are as follows:
Notable successes:
- PayPal experienced the highest number of U.S. visitors in May, with over 32 million visitors.
- TransUnion Interactive saw the highest month-over-month growth with more than two times the number of visitors in May than in April.
- Sybase 365 experienced the highest year-over-year growth, with its traffic up almost 80% from last year.
Public Finovate Alumni With More Than 10,000 Unique Visitors in May 2011
Source: Compete.com retrieved June 29, 2011
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Notes:
1. We reviewed 255 unique sites. Data was unavailable or irrelevant for 201 sites because:
- They had been acquired.
- They were no longer available online.
- They were not covered by Compete for various reasons (including some that were not U.S. domestic companies).
- The number of unique visits was too small to be considered accurate.
- They were subdomains of larger websites.
2. Numbers have been rounded to three significant digits.
3. The charts include companies that did not have measurable traffic in May 2011, indicated by “N/A.”
4. Compete draws its information from the online activity of a panel of more than 2 million U.S. Internet users. It is only an estimate of traffic, and may undercount at-work usage.
Alumni News — Week of June 27, 2011


- Former Lending Club director Joseph Toms joined Prosper as its Chief Investment Officer. Link
- The San Francisco Times reported on Prosper’s growth. Link
Alumni News: Week of May 2 and May 9
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Backbase
Backbase will provide TCS Bank in Russia with a website integration solution through Bank 2.0 Portal. Link
Bill.com
Bill.com rolled out Sage Peachtree Sync, software for controlling bill payment and management. Link
BrightScope
BrightScope released its second annual list of the Atlanta-based companies with the best 401k plans. Link
CashEdge
CashEdge expanded Popmoney service by adding Popmoney for Prepaid. It also announced a partnership with TxVia. Link

Check Point Software Technologies
Check Point was listed on Acadian Asset Management’s Top 15 Buys list. Link
Cortera
Cortera announced a new version of its PULSE app, a customer monitoring service. The new version will add Growth Clues alert. Link
DebtGoal
DebtGoal hired Igor Vaks, former Experian CIO, as new COO. Link
eToro
eToro emerged as the preferred platform for building forex wealth through web trading. Link
Expensify
Expensify advertised on giant billboard in the Bay Area. Link
Fiserv
Fiserv announced improvements to its Relationship Rewards. Link
ID Analytics
CoreLogic partnered with ID Analytics to integrate ID Network with LoanSafe Fraud Manager. Link
ID Analytics will host Advance 2011, its 9th Consumer Risk Management Conference, this September. Link
IP Commerce
IP Commerce recently raised another round of funding. Link
Lending Club
Lending Club issued a record high of $17.5M loans in April. It is the 4th record month in the past 5. Link
Lending Club won Webby Award for the Banking/ Bill Paying category. Link
Mint
Mint won Webby Awards for the Financial Services category. Link
MoneyAisle
Mone
yAisle launched live auctions for unsecured personal loans to help consumers across a wide range of credit scores. Link
PayNearMe
PayNearMe raised $16M in funding from new and current investors. Link
Plastyc
Plastyc won a patent for improved online payment methods. Link
Prosper
Prosper increased loan volume by more than 50% compared to 3 months ago, issuing over $5M in new loans in April. Link
Yodlee
Yodlee is looking into developing mobile apps with new “FinApp Store” strategy. Link
Alumni News — Week of April 4, 2011
To see our Alumni companies’ updates in real time, follow us on Twitter.
Alumni News, Weeks of February 21st and February 28th, 2011
Alumni News — Weeks of January 24, 31, and February 7, 2011
To see Finovate alumni company news in real-time, follow our feed on Twitter here.
FinovateFall 2010 Demo Videos Now Available
We’re pleased to announce that the demo videos from FinovateFall 2010 are now available for free download (or immediate consumption) from the Finovate archives.
This fall’s NYC conference showcased 56 handpicked companies doing 7-minute demonstrations (no slides allowed) of their latest technology innovations to a sold-out audience of 650 financial & banking executives, venture capitalists, press, analysts and entrepreneurs.
Check out these cutting-edge ideas in financial, banking, payments, mobile, lending, investing and security technologies today for inspiration and your next edge on the competition!
(P.S. If you’re interested in joining us at the next Finovate event, tickets are now on sale for FinovateEurope (Feb, 1, 2011 in London). It is going to be an amazing showcase of European and global fintech innovation!)
Eric Mattson is CEO of Online Financial Innovations, the parent company of NetBanker, Online Banking Report and the Finovate Conference Series. He can be reached at [email protected].
FinovateFall 2010 Demo Lineup Revealed
We’re very excited to reveal the 56 cutting-edge companies that have been selected to demo their latest technology innovations on October 4 and 5 in New York City at FinovateFall.
Over the show’s two days, attendees will get to watch the future of fintech and banktech unfold on stage via fast-paced demos (28 each day) from these innovators. And then have a chance to interact with top executives from each of the demo companies during intimate networking sessions.
Without further delay, here’s the list of companies we’re excited to showcase:
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If you’re interested in attending the conference, registering now will save you $100 on your ticket via the early-bird discount and reserve your spot (space is limited and we’re expecting to sell out). We’ll see you in New York!
Eric Mattson is CEO of Online Financial Innovations, the parent company of NetBanker, Online Banking Report and the Finovate Conference Series. He can be reached at [email protected].
Last Chance for FinovateSpring Early-Bird Tickets — Only 2 Days Left to Save!
Just a quick reminder that the early-bird ticket prices for FinovateSpring 2010 (May 11, San Francisco) will expire at the end of March (less than 2 days from now). If you register by March 31, you’ll save $100 on your ticket and lock in your spot to see debuts and demos of dozens of new financial and banking technological innovations.
We’ve handpicked an amazing list of companies to demo their latest including:
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Tickets are selling well with hundreds of registered attendees from great organizations like:
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FinovateSpring is one of our twice-yearly showcases of the best new ideas in banking and financial technology. The show is built around a unique blend of fast-paced demos of actual technology (no slides!) and high-quality networking with an audience of senior FI executives, fintech entrepreneurs, VCs, press, industry analysts and bloggers. It’s an awesome environment to find your next competitive edge.
Don’t miss out on the early-bird price on your ticket to this great show. Register now!
P.S. Online Banking Report subscribers are entitled to an extra discount to our Finovate conferences. Email me to get it.
Eric Mattson is CEO of Online Financial Innovations, the parent company of NetBanker, Online Banking Report and the Finovate Conference Series. He can be reached at [email protected].
FinovateSpring 2010 Demo Companies Revealed
We’re very pleased to announce the lineup for the upcoming FinovateSpring 2010 conference. Taking place on Tuesday May 11 in San Francisco, the conference will showcase dozens of handpicked companies debuting and demoing their latest and greatest fintech innovations. The quality of the new ideas that will be demoed on stage is very high this year and we’re incredibly excited to showcase them to you.
The demoing companies selected (that we can reveal so far) are:
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These companies will be showcased to an audience of senior financial/banking/credit union executives, influential press, industry analysts, venture capitalists, bloggers, tech companies and entrepreneurs.
A sampling of the great organizations already registered to attend includes: AARP, Aite, Alliant Credit Union, BNP Paribas, Capital One, Celent, Discover, Experian, Fidelity, Filene, Forrester Research, Google, Highland Capital, Intuit, Javelin Strategy, Jack Henry, Mechanics Bank, Motley Fool, NY Times, PayPal, Tower Group, USAA, US Bank, Venrock, Wells Fargo, and Wired Magazine.
We’d love to have you join us at the spring event and watch the future of finance/banking unfold onstage. If you register today you’ll save $100 via the early-bird ticket discount. Please note that the early-bird prices expire at the end of this month and space is limited so lock in your spot now!
Eric Mattson is CEO of Online Financial Innovations, the parent company of NetBanker, Online Banking Report and the Finovate Conference Series. He can be reached at [email protected].
Finovate 2008 Fiserv Galaxy
Our second-to-last demo of the morning is MyMoney from Fiserv’s Galaxy unit. Brian Bellhorn, director of marketing, will conduct the demo.
MyMoney is an application that allows customers to view their bank account balance and transaction info within their Facebook account.
The MyMoney application was launched earlier this year and was initially available to Galaxy customers only. Now the service is available for any Fiserv customer. It’s an extremely affordable option.
The MyMoney program includes an online enrollment option. It helps financial institutions find new customers on Facebook. It also encourages word of mouth, by making it easy for users to tell their friends about the program.
They closed the demo by saying that during their 7-minute demo, 1200 more people will have signed up for Facebook. Clever.