Finovate Alumni News– July 12, 2013

  • Finovate-F-Logo.jpgMeniga raises $6.5 million (€5 million) to further develop PFM and online banking.
  • ERN Global raises $1.6 million in seed funding.
  • Lighter Capital extends revenue-based financing to Canadian small businesses. Come see Lighter Capital’s demo at FinovateFall.
  • Bank Innovation reports on the GoBank rollout.
  • Finect president Jennifer Openshaw sourced in USA Today column on SEC’s decision to end the ban on hedge fund advertising.
  • Tinkoff Credit Systems chooses DataSpace for data center facilities and services support. Meet Tinkoff Credit Systems at FinovateFall in New York.
  • Temenos launches SocialComply to help banks go social.
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.

Meniga Raises $6.5 Million (€5 Million) to Further Develop PFM and Online Banking

MenigaLogo.jpg

Stockholm-based PFM expert, Meniga announced early this month that it has raised USD $6.5 million (€5 million) in series A funding.

Iceland-based Kjolfesta led the capital round. Frumtak, a previous investor in Meniga’s 2010 seed round, also participated.

MenigaMobileDesktop.jpg

Meniga will use the funds to better help banks provide a relavant and personalized customer experience by converting raw data into valuable information.

To learn more about Meniga, watch its FinovateEurope 2013 demo.

Finovate Alumni News– June 19, 2013

  • Finovate-F-Logo.jpgBRE Bank, operator of mBank launches “new mBank”, which is based on Meniga´s PFM.
  • U.S.-based life insurance carrier expands use of Kofax solutions by investing an additional $550k to automate document processing.
  • Personal Capital introduces new dashboard features.
  • Bank Innovation visits Dwolla’s new office in NYC.
  • The Next Web reports: Simple launches its Goals feature on the iPhone.
  • Ping Identity named in IDG’s Computerworld 2013 Best Places to Work in IT.
  • Zopa cuts personal loan rate to 4.9%.
  • QuantConnect adds FX, US equity tick data; raises capital.
  • MicroStrategy to partner with Hortonworks to improve Apache Hadoop usability.
  • ixaris shows off its new look and rebranding.
  • Web AppStorm reviews Kashoo’s cloud-based accounting technology.
  • eDeposit teams up with DoubleBeam to integrate mobile account enrollment and eCheck deposits into eDeposits mobile payment network.
  • LICUOS named a finalist in the Next Bank Madrid – Innotribe Startup Disrupt.
  • Fox Business News features Arxan CEO Mike Dager on mobile banking security.
  • Better ATM Services CEO Todd Nuttall talks about the “real lessons” from the Cyprus financial crisis.
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.

FinovateEurope 2013 in the Press

Here’s a look at some of the press coverage we received from FinovateEurope last week:

AllFacebook
Money-Transfer Service Azimo Integrates with Facebook
By David Cohen
American Banker

PressIMG.jpg

Cardlytics Brings Offers, Rewards to Bank Customers on Facebook
by Mary Wisniewski
True Office, Thomson Reuters Partner to Offer Gamified Compliance Apps
by Mary Wisniewski

Backbase blog
Backbase Unveils Amazon-like Digital Marketing Module at FinovateEurope 2013
by Prue Duggan

Bank Marketing Strategy
Moven From Mobile Banking to Mobile Money
by Jim Marous

Bankier.pl
mBank idzie za ciosem i pokazuje kolejne nowości
by Michał Kisiel 
Nowy mBank zapowiada mOkazje i przelewy wysyłane jak wiadomości

Banking Technology
Finovate Europe sees arrival of the Old Guard
by David Bannister
Temenos debuts LiveDesigner at Finovate Europe
by David Bannister

BankNXT
Finovate Europe 2013: Bank to the Future
by Auke Douwe

Berliner Morgenpost
SumUp will traditionelle Kassen abschaffen
by Jürgen Stüber

Computer World
Gamification trend could save banks from huge compliance fines
by Matthew Finnegan

Credit Union Times
Mobile Banking by Voice Next Up? Print Preview 
by Robert McGarvey

Datamonitor 
Finantix takes mobile banking to the next level

Ebests.com
Fresh from a $30m funding round, Kabbage looks beyond the US to launch its loans platform for UK SMEs
by Paul Sawers
SumUp demos its latest mobile-payments tech for Europe: Order a coffee simply by saying your name
by Paul Sawers
El Economista
BBVA participa en FinovateEurope entre ´startups´ europeas
El País blog
Móvil y banca en España
by Álvaro Martín Enríquez
Financial Times
Eye-opening options
by Peter Williams
Money app aimed at Facebook users
by Duncan Robinson
Triumph of technology
by Peter WIlliams
Finextra
Moven gears up for launch
Temenos unveils LiveDesigner tool for Web application development
The Currency Cloud API integrated into Salesforce and Sage 50
Forrester blog
Finovate Europe 2013: Bank to the Future
by Auke Douwe Veenstra
Finovate Europe 2013: Digital Financial Innovation
by Benjamin Ensor
FX-mm
The Currency Cloud’s unique cross-border-payments-a-service capability available for leading enterprise software 
GoMo News
UK startup debuts mobile money app for Facebook
by Dave Evans
ICT journal
Huit innovations financières primées à Finnovate
by Hélène Lelièvre
Temenos étend sa gamme de solutions pour l’expérience utilisateur
by Bastien Brodard
Intelligent HQ
#Finovate NOW a new generation of Social Bankers
by Hayden Richards
FinTech News: #Finovate, #Gamification trends
by Hayden Richards
International Business Times
Sharing Money On Facebook Just Got Easier: Should Banks And PayPal Be Worried?
by Christopher Zara
Mapa Research
Finovate Day One Round Up
by Paul Merry
Finovate Day Two
by Joshua Grant
Money Marketing
Ian McKenna: New tech will drive down costs
by Ian McKenna
PandoDaily
Moven gives sneak peek of new mobile banking app
by Hamish McKenzie
Payments Journal
Kabbage Extends Its Small Business Funding Model To the UK
Payments Source
Cardlytics Searches for Issuer Adoption on Facebook
by John Adams
PR Web
Meniga Awarded its Second “Best of Show” Trophy at Finovate
Programmable Web
Integrate Cross-border, International Payments Processing with Currency Cloud’s XBPConnect API
by Eric Carter
Puls Biznesu blog
Taki będzie Nowy mBank
by EUGENIUSZ TWARÓG
RFP Connect
SAGE SA To Introduce BlackSwan Financial Platform at FinovateEurope 2013
Shiny, Shiny
Azimo lets you transfer money to your Facebook friends
By beccacaddy
Tamebay
Ezbob to expand to the US
By Chris Dawson
Kabbage announces UK launch at Finovate EU
by Chris Dawson
TechCrunch
Kabbage Brings Data-Focused Online Merchant Lending To The UK
by Leena Rao
Social Money Transfer Service Azimo Adds Facebook Integration To Squeeze Western Union
by Steve O’Hear
Telegraph
Now you can use Facebook for international currency transfers
By Justin Harper
The Next Web
Cardlytics’ transaction-linked ads for bank statements to get Facebook integration, as EU launch nears
by Paul Sawers
Open Bank Project aims to bring financial transparency to organizations with an API and Web 2.0
by Paul Sawers
P2P FX platform CurrencyFair announces $500m of transactions so far,
and vies fo $1bn in 2013 alone
By Paul Sawers
SumUp demos its latest mobile-payments tech for Europe: Order a coffee simply by saying your name
by Paul Sawers
TICBeat
BBVA triunfa con Stockbuzz, una app que analiza el IBEX35 en Twitter
by Miriam Castellanos
Travolution
Azimo claims first with Facebook funds transfer service
By Travolution
VentureBeat
Kabbage brings its quick fix loans to UK merchants
by Christina Farr
Thanks to everyone who came and helped make this year’s FinovateEurope the biggest yet.
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We will continue to add to this list throughout the next few weeks as new coverage is published. If we are missing press coverage or if you would like to add to the list, please contact julie@finovate.com with the link.

FinovateEurope 2013 Best of Show Winners

Our third FinovateEurope wrapped up a few hours ago. At the end of each of the two jam-packed days, the London audience voted for their favorite three demos. The top eight overall were named Best of Show (see notes).

The winners (in alphabetic order):

  • Credit-Agricole for its app store where it is wooing outside developers
  • ETRONIKA for its BANKTRON e-channel management platform
  • mBank with Efigence for their Facebook & social platform 
  • Meniga for its PFM platform, including “buy” vs “not buy” feature
  • Moven (Movenbank) for the worldwide launch of its mobile-optimized bank
  • Pockets United for its group purchasing mobile solution
  • SumUp for its mobile point-of-sale system
  • Virtual Piggy for its kids’ payment system with parental controls

We’ll have videos of all 64 demos posted at Finovate.com within a few weeks.

Congratulations to the presenters for our first Finovate with zero demo fails (sure their where a few glitches here and there). And thanks to everyone who attended, tweeted, networked, blogged, and set up an enormous number of post-show meetings. You are pushing fintech forward, and consumers everywhere will benefit.

———-

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 during each day. At the end of the last demo, they chose their three favorites.    
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.”  
4. The eight 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.

Meniga’s New PFM Module Helps Users Decide if They Can Afford Certain Purchases

This post is a part of our live coverage of FinovateEurope 2013.

Thumbnail image for MenigaLogo.jpgWrapping up the first session this morning, Meniga demonstrated its platform that helps users make smart purchasing decisions:

To buy or Not to buy is a white-label module for mobile banking applications, that uses PFM functionality to empower and influence consumers at the point of sale or when considering buying something. 
It allows users to check if they can afford what they are about to purchase or see how much closer to their savings goals they would get if they save the money and use it to feed their goal instead.
One unique aspect of this innovation is allowing users to leverage their social networks and direct messages to crowd-source the decision and instantly collect feedback before making the purchase. This fun and simple feature uses gamification to engage users and their network of friends.”
Product Launch: December 2009
HQ: Stockholm, Sweden
Founded: 2009
Metrics: $1.3M raised, 35 employees, cash-flow positive. European market leaders in white-label PFM solutions for retail banks with 10 implementations and with retail banks in Sweden, Norway, Finland, Germany, Poland, S. Africa, Russia and Iceland.
Website: meniga.com
Twitter: @meniga
Presenting Georg Ludviksson (CEO & Co-Founder) and Einar Gustafsson (VP Product Management)
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IMG_1367c.JPG

FinovateEurope 2013 Sneak Peek: Part 3

FEU13Logo.jpg

With just a few weeks to go before FinovateEurope, here’s the third and final part of our Sneak Peek preview of the companies demoing in London (click here for part 1, here for part 2).

There still time to get your ticket and be a part of the conference in London on February 12 & 13 at Old Billingsgate Market Hall. For more information or to register, visit our FinovateEurope page here.

Each presenting company supplied a few teasers about the innovations they will be showcasing at the event.

___________________________________________________________________________

Thumbnail image for AkamaiLogo.jpg

In a unique demonstration, Akamai will command agents and attack servers across the Internet to launch attacks commonly directed at financial services sites (including SQL injection, slow HTTP post, and DDoS attacks) at a pair of live demonstration banking sites on the public Internet. One site in the clear, and one protected by Kona Site Defender.

The demonstration will show how these attacks can compromise an unprotected site, and how Kona Site Defender is able to detect and mitigate these attacks automatically, live, in real-time. The demonstration will feature innovative adaptive rate control and real-time Web security monitoring security technologies.

Innovation type: Security

BirdbackLoLogo.jpg

Birdback

A lot is happening on the front-end of payments: Mobile POS, mobile wallets, NFC payments … The back-end of payments, however, remains untouched. A card transaction is nothing more than a money transfer.  Meanwhile, developers dread the prospect of having to develop native applications for each of these new, front-end payment platforms.

So why not an API that sits at the very heart of the transaction network, on top of the most widespread means of payment: the payment card? What if one could link applications to payment cards, essentially turning what’s already in consumers’ pockets into a loyalty card, a discount voucher or a means of sending them digital receipts?

Innovation type: Rewards, cards, back office

Device Ident

device_ident_logo.jpg

Device Ident will showcase its new solution to prevent online fraud in real time. Our product identifies and evaluates any device interacting with our customers’ online services, and analyzes history and behavior of the visiting device to prevent fraud and misuse for all our customers.
It is easily integrated into our customers’ online services and it fully complies with European privacy laws.

Innovation type: Security, identity

Five Degrees

five_degrees_logo.jpg

Watch a fully automated model bank with an unparalleled level of self-service giving both customer and bank imminent insight and control in the process.

Through our Web-based, mid-office portal, Five Degrees offers the potential of enormous business benefits in terms of efficiency in adapting new business processes on the go. As today’s market demands, our open services hub integrates with external services like KYC checks, Passport Validation, and PFM.

Come and view the fast and instant response for the next banking generation: rapid deployment, rich customer experience, instant and transparent insight for bank and client alike.

Innovation type: Back office, banking, communications, sales

FreeAgent

Thumbnail image for FreeAgent_logo.jpg

FreeAgent is the UK’s market leader in SME cloud accounting software. The FreeAgent platform’s capabilities extend far beyond traditional accounting software, and are developing toward performance and health measurement tools, providing vital information for both the businesses themselves and current or prospective lenders.

We will demonstrate how cloud accounting and the associated data creation, aggregation and interpretation functions can provide financial institutions with real-time insights into the underlying fundamentals and risk trends existing within a single business or across a base of clients.

Innovation type: Back office, lending, small business

GMC_logo.jpg

GMC Inspire Dynamic Statement is an interactive and engaging way to present your customers’ statements, online or offline.

Instead of the standard online statements, GMC Inspire can generate thousands of dynamic statements in minutes, presenting your customers’ data through attractive charts and graphs that are fully clickable.

Areas that require attention and action can be highlighted and customers can even drill down to granular level detail, providing a fully intuitive service. GMC Inspire also allows you to track usage of every statement and use this data to populate relevant offers and marketing messages for every customer.

Innovation type: Mobile, PFM

Meniga

Thumbnail image for MenigaLogo.jpg

“To Buy or Not to Buy” is a white-label module for mobile banking applications that uses PFM functionality to empower and infl
uence consumers at the point of sale or when considering buying something.

It allows users to check if they can afford what they are about to purchase or see how much closer to their savings goals they would be if they saved the money and used it to feed their goal instead.

One unique aspect of this innovation is allowing the users to leverage their social networks and direct messages to crowd-source the decision and instantly collect feedback before making the purchase. This fun and simple feature uses gamification to engage users and their network of friends.

Innovation type: Mobile, online, PFM, rewards

PhotoPay_logo.jpg

PhotoPay provides the easiest and fastest way to pay paper and PDF bills using mobile devices.

Paying bills on a mobile phone is often difficult. Manual data entry is cumbersome and frustrating for smartphone users. PhotoPay has developed an advanced technology that significantly improves the mobile bill payment experience for both paper and electronic bills.

Banks and payment providers love PhotoPay because it can dramatically improve user experience and increase bill payments transactions. Our first bank customer has seen a 2,000% increase in mobile bill payments after implementing PhotoPay.

Innovation type: Payments, cards

Finovate Alumni News– May 3, 2012

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgCNBC covers how SecondMarket is looking to move from trading Facebook to Pinterest.
  • TechCrunch reports Boku launched billing partnership with Sprint, giving it partnerships with all 4 major U.S. carriers.
  • Meniga’s PFM solution powers Sweden’s first Smartbank, launched by Skandia.
  • SecureKey adds 40 staff in past six months, reaches business and recognition milestones.
  • Lendio sees nearly 500% increase in matching businesses with small business loans.
  • Check Point launches free ZoneAlarm anti-virus/firewall combo.
  • Forbes features article by Mike Alfred, CEO of BrightScope, discussing the differing opinions he, Personal Capital and FutureAdvisor have on the role of financial advisors.
  • Fiserv to offer global ACH payments through partnership with Earthport.
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– March 27, 2012

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  • SimpleTuition’s PayBackSmarter.com now used by over 40 colleges & universities.
  • Meniga’s PFM goes live within Skandibanken’s online bank in Norway.
  • Mobile Enterprise Strategies interviews Kony’s VP of Mobile Strategies, Sam Lakkundi.
  • Super Sprowtz to implement Virtual Piggy’s child-safe e-commerce tool.
  • Swipely launches Main Street Marketing Manager.
  • Seeking Alpha passes 1 million members, doubles its size in less than 2 years.
  • ThreatMetrix lands $18 million in Series D funding.
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.

Meniga Takes its PFM to Australia

Thumbnail image for MenigaLogo.jpg

Personal finance software provider Meniga announced yesterday that it partnered with Rubik, a company that builds software for banks, to bring its PFM to Australia:

“Both of them are offering a hosted option as well as a classic, enterprise play with on premise, white-label PFM, Rubik and Meniga will account for the needs of all sizes of Financial Institutions…”

The partnership is built on Meniga’s PFM solution and leverages Rubik’s relationships with Australian-area financial institutions.

To learn more about Meniga, watch its FinovateEurope 2012 demo.

Finovate Alumni News– March 23, 2012

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgeMudhra partners with Monitise to help launch mobile payments service.
  • Credit Karma profiles SaveUp. Come see SaveUp at FinovateSpring in May.
  • David Stone, CashStar CEO, named business leader of the year.
  • VentureBeat explores PayPal Here’s packaging.
  • ChargeSmart blog looks at what’s behind Dynamics smart cards.
  • AcceptEmail and PostNL enter into a strategic partnership.
  • Meniga takes its PFM to Australia.
  • Lighter Capital makes borrowing even easier by launching Design-A-Loan.
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 Best of Show Winners: 2007 to Present

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We recently looked back at Finovate’s Best of Show Awards archives and wanted to share the list of the 41 award-winning companies.

Here’s the Best of Show history that stretches back to 2007, the inception of Finovate:

Finovate2007.jpg

Held October 2, 2007
Mint: Online PFM for individuals
Mortgagebot’s Mortgage Marvel: Mortgage marketplace
Prosper: P2P lending network
FinovateStartup.jpg

Held April 29, 2008
First ROI (now BancVue): Develops products and services for community financial institutions
Jwaala: Provides software solutions to help financial institutions compete
Zecco: Online stock and options trading
Zopa: P2P lending network
Finovate2008.jpg
Held October 14, 2008
CheckFree: Online banking platform 
Credit Karma: Provides a free and easy way for consumers to understand, monitor and monetize their credit profile
Mint: Online PFM for individuals
Neosaej’s MoneyAisle: Platform where banks compete in live auctions for an individual consumer’s business 
FinovateStartup091.jpg

Held April 28, 2009
BillShrink (now Truaxis): Provides a free cost-savings tool that saves consumers money on everyday bills
Prosper: P2P lending platform
Silver Tail Systems: Predictive analytics to prevent fraud abuse
SimpliFi: A web service that allows anyone to create and update their own financial plan
Finovate2009.jpg
Held September 29, 2009
BancVue’s Kasasa: national checking/ savings account brand for community financial institutions
Credit.com: Provides free interactive tools, education, and unbiased comparisons of quality financial products and services
Digital Insight from Intuit: Provides on-demand banking services to help financial institutions serve clients
Silver Tail Systems: Provides online fraud detection platform 
Yodlee: Provides personalized financial solutions to financial institutions
FinovateSpring2010.jpg


Held May 11, 2010
Bobber Interactive: Money management platform for youth
Expensify: Online and mobile expense report platform
oFlows (Purchased by Andera in 2011): Multichannel paperless solutions for account openings
Wikinvest: A platform for investors to share trading tips
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Held October 4-5, 2010
Betterment: Investment account for savings management 
BillShrink (now Truaxis): Loyalty rewards provider
Bundle: Provides socially informed money management for individuals
Dynamics: Produces and manufactures intelligent powered cards
oFlows (Purchased by Andera in 2011): Multichannel paperless solutions for account openings
PayNearMe: Cash transaction network for the underbanked
SecureKey: Token-based authentication technology
FinovateEurope2011.jpg
Held February 1, 2011
eToro: Social investment network
Finantix: Provides sales and advice solutions for financial services 
Liqpay: Payments platform
Meniga: Online PFM for financial institutions
FinovateSpring2011.jpg
Held May 10-11, 2011
BancVue: Develops products and services for community financial institutions
BankOns: Mobile app offering consumers real-time savings at local merchants
Dwolla: Online, mobile, and social peer-to-peer payment platform
oFlows (Purchased by Andera in 2011): Multichannel paperless solutions for account openings
Mitek Systems: Provides apps for smartphones that allow users to deposit checks and pay bills via their devices’ cameras
PayNearMe: Cash transaction network for the underbanked
Wikinvest: A platform for investors to share trading tips
Thumbnail image for FinovateFall2011.jpg
Held September 20-21, 2011
BillGuard: People-powered antivirus for bills
Dynamics:  produces and manufactures intelligent powered cards
eToro: Social investment network
FamZoo: Online “virtual family Bank”
FeeFighters: Platform that simplifies the process of choosing a merchant account provider
LearnVest: Online PFM for women
Offermatic: Targeted online offers provider
oFlows (Purchased by Andera in 2011): Multichannel paperless solutions for account openings
Personal Capital: Online financial advisor helping people manage their investments
Thumbnail image for FinovateEurope2012Logo.jpg
Held February 2, 2011
Cardlytics: Transaction-based rewards
Dynamics: produces and manufactures intelligent powered cards
eToro: Social investment network
Nutmeg: Online investment manager that democratizes saving and investing