United Capital Acquires FlexScore

FlexScoreHomepage

FlexScore, a platform that gamifies financial planning, was purchased by California-based advisory firm United Capital this week. Terms of the deal were not disclosed.

United Capital, which holds $15 billion in assets under management, plans to use FlexScore as a tool to help its advisers engage clients.

The FlexScore platform assesses and scores the user’s financial health and assigns action steps (as seen below) to improve their score. The goal is to reach a top score of 1000, which signifies financial independence.

flexscoremystepsUnited Capital CEO Joe Duran commented to Investment News that FlexScore fits the “missing piece” from the company’s digital suite for clients and advisers. Additionally, Duran stated, “The right intersection is not technology alone, or people alone, but when you have an interactive engaging experience that is powered by people.”

In the future, Duran plans to implement the scoring tool within retirement plans to stimulate engagement. The company is in talks with potential partners for this use case.

United Capital began its relationship with FlexScore in 2014 when it purchased FlexScore’s parent company, Valley Wealth, in a deal that excluded FlexScore.

FlexScore co-founders Jason Gordo and Jeff Burrow launched the startup at FinovateSpring 2013. Since then the San Francisco-based company has raised $4.7 million and created a mobile version of the app (launched at FinovateFall 2014 in New York).

Finovate Alumni News

On Finovate.com

  • Credit Karma Unveils New Mobile App Design”
  • “United Capital Acquires FlexScore

Around the web

  • Striata launches Secure Document Repository solution in the U.S. marketplace.
  • Credit Karma launches redesigned iOS and Android apps.
  • Vantiv Integrated Payments announces the second phase of its Security Pays initiative.
  • KPMG recognizes ebankIT as one of its top 10 “Emerging Stars” in the global market.
  • CoinDesk looks at Dwolla and its new focus on the blockchain.

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

FlexScore Launches the Mobile Version of its Financial Planning Gamification App

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This post is part of our live coverage of FinovateFall 2014.

As we approach the halfway mark of our first session of the afternoon, here comes the FlexScore team to the stage, demoing FlexScore Mobile.

“FlexScore is now available in a mobile version, allowing users to take FlexScore with them wherever they go. FlexScore maintains its core features – the scoring engine, the Action Steps, the Peer Ranking feature – while empowering the user further through our new pocket-sized, accessible format. Just as with our desktop version, the user interface is spacious, simple, and easy to understand, all while retaining the full power of automated financial advice.”
Presenting: Jason Gordo (CEO) & Jeff Burrow (COO & President)
FlexScoreHomepage_LiveBlog
Product Launch: September 2014
Metrics: $2.5M raised to date, 7 employees
Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B), through financial institutions
HQ: San Francisco, CA
Founded: April 2012
Website: flexscore.com
Twitter: @flexscore

FinovateFall 2014 Sneak Peek: Part 3

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Last week we took a look at 12 companies that will present at FinovateFall this September 23 and 24 in New York:

Today, we’re covering six more companies who will hint at what their 7-minute demo will reveal on stage. If you’re interested in seeing the full live demo, get your FinovateFall ticket here.


AlgomiLogo

Algomi

Features:
    • Aimed at financial markets trading
    • Finds trade opportunities on hard-to-trade items through its smart network
    • Connects the right organizations around trades 
    • Does not disclose sensitive franchise data
Why it’s great:

It’s a B2B inter-firm trading social network in high-value, professional financial markets
StuAlgomi

Presenters:

1) Stu Taylor, CEO
Named as one of the 40 most influential individuals in Fintech 2014 by the Wall Street Journal eFinancial News. Previously a managing director in trading at UBS.


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2) Usman Khan, CTO

Before co-founding Algomi, Khan was managing director at CapXD, a company he founded that sells technology solutions to investment banks.





Flexscorelogo.jpgFlexScore is the industry’s first personal financial health score that uses a patented algorithm and gamification to analyze your entire financial life and suggests ways to improve.

Features:
    • Sets up automated financial advice beyond budgeting and investing
    • Integrates with your financial institution’s products and solutions
    • Offers a digital engagement platform for customers and advisors
Why it’s great:
FlexScore simplifies financial planning for everyone and offers institutions a digital engagement platform that drives customer loyalty and profits higher.

JasonFlexScore

Presenters:

1) Jason Gordo, CEO
Jason worked as a financial advisor for thirteen years and co-founded an advisory firm that was recognized by Forbes as a top-fifty emerging RIA.
LinkedIn
JeffFlexScore

2) Jeff Burrow, President and COO

Jeff spent fourteen years as a financial advisor, working with foundations, retirement plan participants, and high-net-worth individuals. He co-founded an advisory firm with Jason Gordo.


HedgeCoVestlogo

HedgeCo Networks’ HedgeCoVest is the first investment platform to allow investors and advisors to mirror actual hedge fund portfolios into their individual brokerage accounts in real time.

Features:

    • Real-time performance and portfolio-monitoring tools
    • Easy-to-use platform to analyze hedge fund’s portfolios
    • Allocate/liquidate intraday with the ability to lever portfolios up or down
Why it’s great:
HedgeCoVest provides an easy-to-use, secure platform for investors to mirror actual hedge fund portfolios in real-time with liquidity, transparency, and simple flat fees.
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Presenters:

1) Evan Rapoport, Founder & CEO
Rapoport is the CEO/Founder of HedgeCo Networks who has been featured as a hedge fund expert on CNBC, MSNBC, FOX and leading publications.
AaronWormusProfile

2) Aaron Wormus, CTO

Wormus is the CTO of HedgeCoVest. Prior to HedgeCoVest, Mr. Wormus was the director of technical operations for HedgeCo websites & chief architect of the analytics suite, Hedge Fund Calculator.
LinkedIn

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Linqto lets you talk to your neighborhood banker, anytime, anywhere. Linqto’s Personal Banker delivers video-based, face-to-face transaction processing and communication with remote customers from any device.

Features: 
    • Instant, easy video connection from any device, website, or kiosk
    • Do-it-for-me transactions add security to mobile banking
    • One-to-many video feature provides cross-sell and social opportunities
Why it’s great:

Consumer trust in banks is at record lows. Linqto’s Personal Banker delivers the essential face-to-face human connectivity and relationship-building benefits your remote customers are missing.
Dune

Presenters:

1) Dune Thomas, Vice President of Mobile Banking Solutions
The innovation leader behind Personal Banker, Dune is also currently leading automation efforts for Linqto clients Digital Insight and NCR in the financial mobile-apps sector.
Bill

2) Bill Sarris, CEO

A recognized expert in the field of streaming and collaborative technology, Bill has delivered major enterprise software applications for Microsoft, Intuit, Digital Insight, NCR, Google and Stanford.



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Malauzai is designed for an exceptional user experience with superior economic value. SmartwebApps deliver the next generation of mobile banking by leveraging the power of an app-like experience on any device.

Features:
    • An app-like experience on any device, even the desktop
    • Responsive design and consistency across channels
    • More efficient and faster implementation
Why it’s great:

Internet banking is dead as you know it.
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Presenters:

1) Robb Gaynor, Chief Product Officer and Founder
Gaynor heads up the product development and marketing for Malauzai, focused on ensuring the company has solutions at the cutting-edge of mobile innovation.
DannyMalauzai
2) Danny Piangerelli, Chief Technology Officer and Founder
Piangerelli leads the technology team and is responsible for all aspects of Malauzai’s technology infrastructure.
LinkedIn

MyVirtualStrongBoxLogo

Virtual StrongBox is an online safe deposit box. Customers store important information for record keeping and disaster recovery. Nothing’s more important than trust.

Features: 
    • Encryption-at-rest for stored documents
    • Easy-to-use interface
    • Enterprise file exchange
Why it’s great:
Secure storage solutions are a valuable addition to the customer experience. Help your customers protect their important personal information with My Virtual StrongBox.
RonVirtualBox

Presenter:

Ron Daly, President and CEO
Daly knows a thing or two about digital communication and bottom-line performance. He is President/CEO of Virtual StrongBox and a former CFO of a $1.5 billion financial institution.

We’ll feature 6 more companies this Thursday in Sneak Peek: Part 4 so stay tuned.

FlexScore Debuts the Advisor Version of its Web-Based Financial Planning Service

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This post is part of our live coverage of FinovateSpring 2014.

FlexScore is making its way to the stage next. The company is debuting its FlexScore Advisor Version.

“FlexScore gives you total financial clarity wrapped up in a single score. Until now, there has never been a product or service that truly meets the needs of both the financial advising community and your average everyday household that has a need to plan financial and find appropriate (not ‘sold’ with high commissions and kickbacks) products and services to solve its problems. 
Over the last 3 years we’ve been developing this web-based financial planning service to benefit both consumers and advisors. We are announcing at FinovateSpring 2014 that FlexScore has created an Advisor version.”
Presenting: Jason Gordo (CEO) and Jeff Burrow (COO & President)

Product Launch: April 2014
Metrics: $2.5 million raised to date; 7 employees
Product distribution strategy: Direct to Consumer 9B2C), Direct to Business (B2B), through financial institutions
HQ: San Francisco, California
Founded: April 2012
Website: flexscore.com
Twitter: @myflexscore

Finovate Alumni News– January 6, 2014

  • Thumbnail image for Finovate-F-Logo.jpgChecking in with FlexScore is top of the list in this Forbes column on financial planning for those turning 50 this year.
  • Mint, Personal Capital, SavedPlus, and LearnVest earn spots on Fox Business’ list of “5 apps to help keep your 2014 financial goals.”
  • CodeSumBlog names BillGuard as its top financial management productivity app.
  • MasterCard completes acquisition of Provus, Turkey’s leading independent payments processor.
  • Google announces that customers can now activate their Google Wallet card via the mobile app.
  • CurrencyFair highlighted in New York Times column on Ireland’s tech start-up scene.
  • The Financial Post covers FinanceIt’s POS financing solution.
  • Expensify revamps UI and adds executive assistant permissions with new “Wingman” feature.
  • Forbes lists LearnVest, Personal Capital and BillGuard as apps for saving money.
  • Xconomy lists Jemstep and Personal Capital as two new online services to put you back in command of your 401(k).
  • TIO Networks acquires Globex Financial Services to add well-known & respected billers to TIO’s business.
  • Signifyd API adds fraud prevention to ecommerce platforms.
  • Saved Plus, Wallaby, FutureAdvisor, Wealthfront, and Level picked for CNN Money’s list of the 15 best financial sites and apps.
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– November 18, 2013

  • Finovate-F-Logo.jpgRentPaidOnline and PayNearMe partner to bring cash payments to its online platform 
  • Daily Finance interviews PaySimple CEO Eric Remer on Next-Gen Payment Processing.
  • ShopKeep POS releasing new version of its iPad-based sales mgmt system to cut checkout time in retail locations.
  • Novant Health launches on doxo to deliver bills & simplify the patient experience.
  • Lendio named one of Utah Business Magazine’s Best Companies to Work for in 2013.
  • Credit Sesame launches banking channel with new interest rate comparison tool.
  • Billhighway ranked no. 146 fastest growing company in North America on Deloitte’s 2013 Tech Fast 500.
  • Former U.S. Treasury assistant secretary for financial institutions and Google SVP join Lending Club’s advisory board.
  • The Paypers reports SumUp extends to Latin America with launch of m-payments service in Brazil.
  • Lend Academy reports: Lending Club now valued at over $2 Billion.
  • Open Bank Project organizing the second edition of Hack/Make The Bank FinTech hackathon in Paris on Nov 30th.
  • EyeVerify competes tonight in Kauffman Foundation’s “Get in the Ring: The American Startup Clash”.
  • Texas Advanced Computing Center to test pilot Toopher’s Invisible Multifactor Authentication solution.
  • MasterCard opens office in Bangladesh.
  • Leaf featured in column on Boston-based mobile payment hardware systems.
  • The Points Guy compares new Coin card to Wallaby Card.
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– November 7, 2013

  • Finovate-F-Logo.jpgAmerican Banker reports: Bill.com Updates Banking Platform.
  • FIS, Fiserv, BancVue, & IND Group included in 2013 FinTech 100 rankings.
  • U.S. News and World Report wonders if FlexScore will replace credit scores.
  • Leaf earns a spot on BostInno’s “50 on Fire Finalists for Tech”.
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.

FinovateFall 2013 in the Press

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Affluent Strategies
Finovate Fall 2013 Best of Show Winners
by JP Nicols
All Marketing (in Hebrew)
הסטארט-אפ הישראלי, TipRanks, זוכה זה בפעם השנייה בכנס Finovate
by Shirley Asa
American Banker
Business Lender Finds Trove of Insights in Client CRM Data
by Penny Crosman
MoneyDesktop Launches Long-Term Goal Setting Tool
by Sean Sposito
PFM Apps Dominate FinovateFall Day One
by Mary Wisniewski
Reporter’s Picks: Three Top Apps at FinovateFall
by Sean Sposito
The Cutting Edge of Online Banking, as Practiced by a Polish Bank
by Mary Wisniewski
The Top 10 Tweets of Finovate
What Engagement Banking Needs Is Less Engagement
by Jeanine Skowronski
Backbase Blog
Backbase Unveils New Commercial Banking Portal Solution at FinovateFall 2013
by Prue Duggan
Bank Innovation
‘Electronic Checks’ Give Paper Payments New Life
by Philip Ryan
European Innovators Throw Down the Gauntlet: Where’s the Innovation, Americans?
by Philip Ryan
Finovate 2013: Our take on the Best of Show winners
by Steven Ramirez
Finovate Fall ’13: Numbrs, Pixeliris, Word Sentry, and Mitek Come on Strong
by Philip Ryan
Finovate Fall ’13: Strong Demos from Float Money, BizEquity, Zighra & SpearFysh
by Philip Ryan
Finovate Fall ’13: Strong Demos from Instabank, SavedPlus & TipRanks
by Phillip Ryan
Finovate Fall ’13: Think Finance, MBank Lead the Pack
by Philip Ryan
Bank Marketing Strategy
Ten Tips To Doing Finovate Like A Pro
by Jim Marous
Bank Systems & Technology and Wall Street & Technology
5 Game-Changing Financial IT Startups
by Becca Lipman
5 Ways Mobile Banking Is Evolving: Finovate
by Jonathan Camhi
Finovate Fall 2013: A Few FinTech Providers for Capital Markets
by Zarna Patel
Finovate 2013: We’re All Infected With Malware
by Becca Lipman
Making Personal Finance Social Spotlighted At Finovate
by Jonathan Camhi
Barlow Research Associates
Innovations that Improve Business Banking Workflow
by Donna Arce
BostInno, Streetwise Media
Franklin-Based Interactions Reinvents the Virtual Assistant Application, Wins Finovate’s Best in Show
by Andrew Amato
Crain’s New York Business 
Financial-technology startups roil banking’s status quo
by Judith Messina
Hottest tech sector is all about money
by Judith Messina
Credit Union Times
Mitek Debuts Mobile Photo Account Opening
by Robert McGarvey
CreditUnions.com
5 Areas Of Innovation All Credit Unions Need To Monitor
by Scott Patterson
The Role Of Innovation In Today’s Credit Union
by David Mooney
CU Insight
Barclays Just Showed Up to the Party We’ve Been Hosting for a Year
by 
Ron Daly
Discerning Technologist
Just In Time For Finovate: Adding More Fun (And More Focus) To Fintech Applications
ExecutiveBoard.com
Scores of fun at Finovate and Money2020
by CEB Icono
Finextra
Yodlee launches financial relationships app
Finovate blog
FinovateFall 2013 Best of Show Winners
by Julie Schicktanz
Forbes
4 New Online Money Management Tools Worth A Try
by Richard Eisenberg
Forrester blog
Highlights and Thoughts From Finovate Fall 2013
by Peter Wannemacher 
GonzoBanker
Finovate Fall 2013 – The Big Apple
by Scott Hodgins
Hotwire PR blog
Mobile, data and security are hot at FinovateFall
by Lindsay Goldwert
Huffington Post Tech
NextGen Investment Advisory Firms–Go Tech Or Go Home!
by April Rudin
Investment News
Start ups pitch automated advice at tech confab
by Trevor Hunnicutt
Javelin Strategy & Research Blog
FinovateFall 2013. Drinking from the Proverbial Firehose.
by Nick Holland
The Jerusalem Post
Tel Aviv-based start-up TipRanks takes top prize at Finovate
by Niv Elis
Medium.com
Reflections On Five Hundred Minutes of Fintech
by Bradley Leimer
miiCard
Fintech Trends From The Innovators at FinovateFall
by Cassie Anderson
Mindful Insights blog
FinovateFall 2013 
The Modesto Bee
Modesto financial planners offer online tool for success
by Patty Guerra
My Bank Tracker
FlexScore Aims to Complement FICO Credit Scores
by Simon Zhen 
FutureAdvisor: Automated Investing With Tax Efficiency in Mind
by Simon Zhen 
Mitek to Simplify Account Opening on Mobile Devices
by Simon Zhen 
MoneyDesktop: Declutter and Visualize Your Financial Goals
by Simon Zhen 
SavedPlus Makes You Save Every Time You Spend
by Simon Zhen 
Yodlee’s New Mobile App Deals With Money Side of Relationships
by Simon Zhen 
The New Age Online
Finovate and the Rise of the African Entrepreneur
by Douglas White
PandoDaily
Taking data analysis to a new plateau: Narrative Science raises $11.5M
by cale Guthrie Weissman 
Payments Source
E-Check Service Offers an Alternative to Online ACH Payments
by Austin Kilgore
PC World
New services tackle small business finance challenges
by Yardena Arar
Plus World (in Russian)
Инновация ТКС Банка представлена на
PYMNTS.com
Payment Innovators Impress At FinovateFall 2013
by Dan Rosen
Silicon Hills
Akimbo and Toopher Pitching at Finovate in New York
by Laura Lorek
Snarketing 2.0
Finovate Fall 2013: Snarketing’s Best-In-Show Awards
by Ron Shevlin
What To Look For At Finovate Fall 2013
by Ron Shevlin
TechCrunch
Mobile-First Banking App Numbrs Bags Further $3.8M For U.S. Launch
by Steve O’Hear
Upstart Business Journal
Bitcoin’s missing link sneaks into main event at Finovate
by Michael del Castillo
Financial gladiator battle ends with 8 startups standing tall
by Michael del Castillo
The Wall Street Journal

How to Get Investment Advice for Less Online

by Andrea Coombes

‘Stupid’ Banks Look for Innovation
by Michael Hickins
William Mills Agency blog and Beyond the Arc blog
Day 1: Live Blog, FinovateFall 2013 by William Mills III & Steven Ramirez
by Steven Ramirez and William Mills III
Day 2: Live Blog, FinovateFall 2013 by William Mills III & Steven Ramirez
by Steven Ramirez and William Mills III
Finovate 2013: Our take on the Best of Show winners
by Steven Ramirez
We’ll continue to add coverage throughout the next few weeks. If you have FinovateSpring press coverage you would like to add, please email the link to julie@finovate.com.

FlexScore’s Action Steps, Peer Ranking Helps Consumer Game the Financial Planning Process

FlexScorelogo.jpgThis post is part of our live coverage of FinovateFall 2013.

Our next presenter is FlexScore, created by two financial advisors to “gameify” the financial planning process.

“FlexScore is an entirely new financial product that empowers people to take more control over their personal finances. It’s financial advice for the rest of us.
We will be demoing our newly patented scoring engine and peer ranking features of the FlexScore web app.”
Product Launch: Beta launch May 2013
Metrics: $1.5M raised & 6 employees
Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B), through financial institutions, through other fintech companies and platforms, & licensed
HQ: San Francisco, California
Founded: April 2012
Metrics: $1.5M raised & 6 employees
Website: flexscore.com
Twitter: @myflexscore
Presenting Jason Gordo (Co-Founder & CEO) and Jeff Burrow (Co-Founder & President)
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The full demo video will be available at Finovate.com in mid-September