Mitek

Nineteen Finovate Alums Win 2013 PYMNTS.com Innovator Awards

By Julie Muhn (@julieschicktanz) Posted on
Categories: Bill.com, BillFloat, Braintree, Capital Access Network, Credit Karma, Intuit, IP Commerce, Kabbage, Leaf, Lending Club, Mitek, MoneyDesktop, OneID, Pangea Payments, PayNearMe, PayPal, PaySimple, Simple, Waspit

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PYMNTS.com, a website owned by Business Wire and Market Platform Dynamics, recently published the winners of the 2013 Innovator Awards.

Three Finovate alums were selected as overall Best in Show winners:

First place: Pangea Payments

  • Innovation: A new way to send money anywhere, at a flat fee, instantly, leveraging the prepaid rails.
  • Finovate demo: Will demo at FinovateSpring 2013 in May 14 & 15
Second place: Waspit 
  • Description: Combining mobile payments with social media channels to empower and inform the user in everyday purchases.
  • Finovate demo: FinovateFall 2012
Third place: Leaf
  • Description: Small business payments solution
  • Finovate demo: Will demo at FinovateSpring 2013 in May 14 & 15

In addition, five Finovate alums took home Gold awards, five won Silver awards, and seven were awarded in the Bronze category. Here is a summary of all of the winners:

Gold

    • Category: Most innovative
    • Innovation: PayPal POS Initiatives that leverage its worldwide digital wallet accountholder base.
    • Finovate demo: FinovateEurope 2012
    • Category: Best credit
    • Innovation: The consumer’s advocate for demystifying credit with a range of tools and information resources to help them monitor and manage their financial health.
    • Finovate demo: FinovateStartup 2009
    • Category: Best B2B innovation
    • Innovation: Online working capital for small businesses.
    • Finovate demo: FinovateEurope 2013
    • Category: Best SMB innovation
    • Innovation: Small business payment platform integrated with Quickbooks.
    • Finovate demo: Finovate 2009
    • Category: Best innovation via ACH
    • Innovation: Cash flow management, accounts payable/ receivable management platform
    • Finovate demo: FinovateSpring 2011
Silver
    • Category: Most invisible
    • Innovation: Platform-as-a-Service that powers POS 2.0 commerce solutions.
    • Finovate demo: FinovateSpring 2012
    • Category: Best credit
    • Innovation: Offers consumers “more time to pay” their bills on time to help avoid late fees, overdraft charges, service termination and high cost loans.
    • Finovate demo: FinovateSpring 2011
    • Category: Best cash
    • Innovation: Enables consumers to shop online and pay with cash easily for a wide range of goods.
    • Finovate demo: FinovateSpring 2011
    • Category: Best SMB innovation
    • Innovation: Cloud-based, small business platform that integrates invoicing and payment acceptance in one system.
    • Finovate demo: FinovateSpring 2012
    • Category: Best comeback
    • Innovation: Alternative business financing that helps businesses tap into the capital it needs to run the business.
    • Finovate demo: FinovateEurope 2011
Bronze
    • Category: Most disruptive
    • Innovation: Mobile checkout service that enables one touch payments across multiple applications.
    • Finovate demo: FinovateSpring 2011
    • Category: Best technology
    • Innovation: OneID lets people sign in without usernames and passwords, yet delivers authentication solutions with non-repudiation, keeping both people and businesses safe from today’s biggest identity and personal information threats.
    • Finovate demo: Will demo at FinovateSpring 2013 in May 14 & 15
    • Category: Best newcomer
    • Innovation: Aggregates financial account information and allows users to manage their money in one place, online or with a mobile device.
    • Finovate demo: FinovateSpring 2012
    • Category: Best credit
    • Innovation: Brings together investors with creditworthy borrowers to reduce the cost and complexity of traditional lending.
    • Finovate demo: Finovate Startup 2009
    • Category: Best debit
    • Innovation: Reinventing personal banking with modern online and mobile experiences, no surprise fees, and great customer service.
    • Finovate demo: FinovateFall 2011
    • Category: Best prepaid
    • Innovation: A new way to send money anywhere, at a flat fee, instantly, leveraging the prepaid rails.
    • Finovate demo: Will demo at FinovateSpring 2013 in May 14 & 15
    • Category: Best check
    • Innovation: Mitek’s patented mobile imaging technology allows users to remotely deposit checks from anywhere, at anytime by snapping a picture with their camera-equipped smartphone or tablet, and has become the “gold standard” for mobile check deposit.
    • Finovate demo: FinovateSpr
      ing 2012

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Finovate Alumni News– March 18, 2013

By Julie Muhn (@julieschicktanz) Posted on
Categories: BellaDati, Blackhawk Network, Braintree, Kashoo, Klarna, MiiCard, Mitek, Striata
  • Finovate-F-Logo.jpgBella Dati opens office in Singapore.
  • Business solutions company Neopost USA to use Striata as its electronic document delivery partner.
  • Mitek facilitates more than $40 billion in check deposits.
  • GigaOM reports Braintree’s recent move overseas helps double its payments volume to $8B.
  • Blackhawk Network files for IPO of up to $200 million.
  • miiCard 1 of 50 listed on the 2013 FinTech 50 Watchlist, a list companies in Europe that are redefining financial services.
  • Kashoo to partner with InfoStreet’s SkyDesktop.
  • Consumers.com asks whether Klarna will become a “major player” in online payments.
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.

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First Financial, US Bank Launch First Photo Billpay Services

By Jim Bruene Posted on
Categories: Best of the Web, Bill payment, Mitek, Mobile Banking, Mobile Payments

imageI started this post Monday, before I knew US Bank would be making headlines today as the first “major” bank with photo billpay. I got that news last night, when I updated my US Bank iPhone app (see inset).

But First Financial Bank (Abilene, TX; $3.7 billion deposits) actually imagebeat US Bank ($235 billion) to market by more than a month with its 22 Jan 2013 launch (press release; YouTube video). The bank said it had 12,000 bill uploads during the first 10-days of availability.

 US Bank mobile photo billpayBoth services use the Mitek engine to read the image and handle the OCR work. But First Financial also uses Allied Payment Network to process images that don’t get properly digitized on the first pass and Malauzai Software for app development. 

Like remote check deposit, the system will improve over time as it learns the nuances of the thousands of billing statements fed into the front end. But today, there is still work to be done on the minority of statements that don’t read correctly (see note 1).

First Financial features the new service front and center on its homepage (see first screenshot below) with a clever:

Tell your bills to say, “Cheese.”

US Bank has no mention of it on the front page (nor in site search), but if you navigate to its mobile banking page, you can’t miss it (third screenshot below).

image Bottom line: I’m not sure how many people will ultimately use photo billpay (though First Financial seems to be off to a good start). It’s an interim technology until we can convert the country to ebills.

But since that may be a decade from now, using your smartphone to snap-and-pay is the best answer for now. So, we are bestowing our first OBR Best of the Web of 2013 to First Financial  for raising the bar in remote delivery (notes 2, 3). And an honorable mention to US Bank for getting it out to a broader market.  

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First Financial features its new photo billpay on its homepage (6 Mar 2013)

First Financial Bank homepage featuring photo billpay powerd by Mitek


First Financial landing page (link)

First Financial Bank landing page for photo billpay

US Bank’s mobile page features photo billpay prominently (link)

US Bank mobile banking page featuring photo bill pay

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Notes:
1. Just today, the Chase ATM couldn’t read the amount on a computer-generated check we fed into its deposit slot. So we had to manually add.    
2. This Best of the Web goes to First Financial since it was first. Mitek already won when it introduced the technology in 2010 (see our Online Banking Report on Paperless Banking (subscription).
3. Since 1997, our Online Banking Report has periodically given OBR Best of the Web awards to companies that pioneer new online- or mobile-banking features. It is not an endorsement of the company or product, just recognition for what we believe is an important industry development. In total, 89 companies have won the award. This is the first for First Financial. Recent winners are profiled in the Netbanker archives.

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Finovate Alumni News– March 7, 2013

By Julie Muhn (@julieschicktanz) Posted on
Categories: DeviceFidelity, Fiserv, GMC Software Technology, Luminous, Mitek, PaySimple, Temenos, Xero
  • Finovate-F-Logo.jpgMSPmentor reveals some interesting stats from PaySimple.
  • U.S. Bank is first major bank in the U.S. to roll out Mitek-powered mobile photo billpay.
  • Luminous considers its experience demoing BankFiling at FinovateEurope.
  • New Zealand Herald reports Xero becomes billion dollar company.
  • CU Times reports Fiserv integrates Popmoney P2P payment tool with its mobile banking app.
  • Henri Dura to take post of CEO of GMC Software Technology.
  • IBS Intelligence ranks Temenos T24 #1 in its 2013 Sales League Table.
  • DeviceFidelity raises more than $470,000 in 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.

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Finovate Alumni News– February 21, 2013

By Julie Muhn (@julieschicktanz) Posted on
Categories: Azimo, Cartera Commerce, CommunityLend, DeviceFidelity, Dwolla, Expensify, FamZoo, Fiserv, Geezeo, Mitek, MoneyDesktop, ReadyForZero, Simple, Taulia, TSYS
  • Finovate-F-Logo.jpgCommunityLend grows FinanceIt team.
  • Cartera Commerce appoints Brian Michon as CTO.
  • Mitek granted new patent for its mobile photo bill pay capabilities.
  • Geezeo partners with OSG Statement Services to develop a statement option that will allow PFM data to be leveraged in eStatements and printed statements.
  • GoBankingRates reviews Simple’s banking service.
  • American Banker reports: Maine’s Katahdin Trust Company selects Fiserv’s core banking platform.
  • MoneyDesktop reports record year with customer growth of nearly 80% from 2011 to 2012 and a 4.5X increase in recurring monthly revenue.
  • Hallmark chooses Taulia to provide e-invoicing, dynamic discounting and supplier self-services.
  • FamZoo’s prepaid card family pack featured in TIME.
  • Torsion Mobile integrates with Dwolla’s payment network.
  • Dallas Business Journal reports that Device Fidelity has raised $1 million in debt financing.
  • TSYS to begin processing ATM transactions through the LINK network in the UK.
  • Azimo CEO Michael Kent explains the social remittance business in Pymnts.com Q&A.
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.

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Finovate Alumni News– January 31, 2013

By Julie Muhn (@julieschicktanz) Posted on
Categories: ACI Worldwide, Backbase, BehavioSec, Boku, Braintree, FIS, Flint Mobile, mFoundry, Mitek, Online Resources, Xero
  • 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.

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Finovate Alumni News– January 17, 2013

By David Penn Posted on
Categories: Bill.com, BillFloat, Compass Plus, Dashlane, Dwolla, ImpulseSave, Jack Henry, MasterCard, Mitek, PayPal, Standard Chartered Bank, TIO Networks
  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgBillFloat announces $21 million in new funding.
  • Jack Henry & Associates launches retail and commercial lending platform.
  • Compass Plus completes benchmark testing on HP servers.
  • ImpulseSave releases Google Chrome e-commerce plug-in.
  • Dashlane partners with Pwnedlist to enhance security alerts. Check out Dashlane’s live demo at FinovateEurope next month.
  • Mitek to launch Mobile Deposit Alliance, allowing participant banks to share deposit data.
  • TechCrunch reports: eBay And PayPal Expect To Do $20 Billion Each In 2013 Mobile Commerce.
  • El Paso Electric Company partners with TIO Networks Corp to launch EPE MobilePay.
  • Dwolla introduces Guest Send to help developers building bank software make payments from one account to another.
  • Bill.com wins Best Software as a Service category of the 2012-2013 Cloud Awards Program.
  • Clearstream chooses Standard Chartered Bank as its clearing and settlement agent for its investments in South Africa.
  • Payments.com profiles MasterCard Worldwide’s initiatives in Africa.
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.

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Cachet Financial Solutions to Power Tyfone’s Remote Deposit Capture Offering

By Julie Muhn (@julieschicktanz) Posted on
Categories: Cachet Financial Solutions, Mitek, Tyfone

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Remote deposit capture solutions company, Cachet Financial Solutions announced today that it has partnered with mobile banking expert, Tyfone.

Through this partnership, Cachet’s remote deposit capture (RDC) solution, which uses Mitek’s technology to format check images, willThumbnail image for tyfone.jpg enable Tyfone to provide RDC services for its FI customers.

Midwest-based CoVantage Credit Union is the first to implement this solution, allowing its members to remotely deposit funds into their accounts.

Thumbnail image for MitekLogo.jpg

To learn more about Cachet Financial Solutions, watch its FinovateFall 2012 demo. Tyfone demoed at Finovate Startup 2008 and Mitek demoed at FinovateSpring 2012.

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Finovate Alumni News– January 8, 2013

By Julie Muhn (@julieschicktanz) Posted on
Categories: Acculynk, Banno, Credit Karma, Experian, Fiserv, Heckyl Technologies, LearnVest, Manilla, Mitek, Pageonce, PayPal, ProfitStars, ShopKeep POS
  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgThe Financial Brand investigates how Mitek’s bill payment service can aid customer account switching.
  • ShopKeep POS partners with Griffin Technology to launch iPad POS system with a built-in magnetic card reader.
  • Fiserv selects Aconite’s Smart EMV Manager solution to enhance EMV card processing systems.
  • LearnVest app reaches 100,000 downloads.
  • SEO-Cart integrates PayLeap from Acculynk Direct, a division of Acculynk.
  • Profile of Banno CEO in American Banker highlights recent partnership with ProfitStars.
  • Phillip Capital signs Heckyl Technologies to integrate News and Sentiment analytic platform.
  • CreditKarma, PayPal, Experian, Pageonce, and Manilla earn spots on Netbanker’s top 50 iPhone and iPad finance 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.

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Finovate Alumni News– January 7, 2013

By David Penn Posted on
Categories: ACI Worldwide, Bazaarvoice, Enloop, FIS, GMC Software Technology, Lending Club, Mitek, SaveUp, Simple, SoMoLend, Temenos, TransferWise, Xendpay

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  • 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.

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Finovate Alumni News– December 5, 2012

By Julie Muhn (@julieschicktanz) Posted on
Categories: Figlo, Fiserv, Keynote DeviceAnywhere, MasterCard, Mitek, SoMoLend

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  • Mitek to power US Bank’s mobile photo bill pay; launching early 2013.
  • Fiserv reaches milestone, delivers 2 billionth e-bill.
  • The Financial Brand looks at Knab’s online bank that runs on Figlo’s platform.
  • The city of Cincinnati partners with SoMoLend to support small businesses.
  • Forbes ranks Keynote Systems “one of the best 100 companies in America.”
  • US Airways implements MasterCard PayPass for in-flight purchases.
  • Keynote Systems DeviceAnywhere now integrated with HP’s QuickTest Professional.
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.

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Finovate Alumni News– October 30, 2012

By Julie Muhn (@julieschicktanz) Posted on
Categories: Braintree, Cortera, Emida, LearnVest, Manilla, Mitek, Monitise, The Currency Cloud
  • Cortera to open new office in Boston.
  • American Banker reports Mitek Plans Driver’s License Authentication, Mobile Pay Software.
  • The Next Web reports Braintree and LightSpeed team up to launch new payment plan for merchants.
  • Finovate takes an in-depth look at Manilla’s account management platform.
  • Emida partners with Global Business Services and The Mint Corporation.
  • The Currency Cloud raises $1.9 Million.
  • The WSJ takes LearnVest for a test drive.
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.

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