PayActiv Partners with ADP Marketplace

PayActiv Partners with ADP Marketplace

Courtesy of a new partnership, clients of ADP will get access to PayActiv’s Financial Wellness Platform. PayActiv announced last week that the workplace holistic financial wellness services provider will join the ADP Marketplace. This ecosystem of business apps will expose more than 600,000 employers representing 26 million workers to PayActiv’s technology.

“Companies leveraging ADP Marketplace can save as much as $50,000 annually for as few as 100 employees enrolled in PayActiv,” company CEO and founder Safwan Shah said. “Our holistic approach towards financial wellness is a win for both employers and employees.”

PayActiv provides a way for employers to help their employees better manage their financial lives. The company enables workers to get financial relief between paychecks – for example 50% of their already earned income – rather than relying on expensive payday loans or credit cards. PayActiv calls its strategy “timely earned wage access” or EWA and says the platform can be leveraged by both small businesses and larger companies to support not just timely EWA, but intelligent savings and budgeting, financial literacy, and counseling, and more. The platform is voluntary for workers, intuitive, and on-demand.

“Having timely access to earned income alleviates additional debt on already financially stressed individuals,” ADP Marketplace General Manager Craig Cohen said. “By offering PayActiv’s services via the ADP Marketplace, our customers’ employees now have on-demand access to money they’ve earned and can avoid costly alternatives.

PayActiv demonstrated its financial wellness mobile app at FinovateSpring 2016, winning Best of Show. Designed to help the underserved and working poor access quality banking services, PayActiv provides instant cash access, bill pay, bank transfer, savings and budgeting tools, and more.

Headquartered in San Jose, California, PayActiv has raised more than $17 million in funding. The company includes SoftBank Capital, Plug and Play Ventures, and RTA Capital among its investors.

Finovate Alumni News

On Finovate.com

  • Xero Buys Paperless Accounting Firm Hubdoc
  • NestReady Collaborates with Alterna Savings on Home Buying Solution.
  • PayActiv Partners with ADP Marketplace.
  • IdentityMind Global to Help ZED Network MTOs Meet KYC, AML Compliance.

Around the web

  • ProfitStars to automate commercial lending for Ion Bank.
  • Fenergo earns Top Performer status in the Overall Rankings of the RegTech 2018 Report.
  • One World Identity highlights Averon as a Company to Watch in its annual report on innovations in identity and authentication. See Averon at FinovateFall 2018 in September.
  • Arxan experiences double-digit revenue growth, expands global reach.
  • Flashtalking and Neustar partner to fill the void created by the removal of DoubleClick ID.
  • Insight on Business interviews Dwolla’s Stephanie Atkin.
  • Immervox features Bluescape and CRMNext in its list of Five Companies Leading the Charge in the Changing Workplace.

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

On Finovate.com

  • TESOBE’s Open Bank Project Powers API for Forty Seven Bank.
  • TD Bank to Deploy nCino’s Bank Operating System.
  • Malauzai to Power Mobile Banking Tech for Axiom.
  • Endor Raises $45 Million in ICO.

Around the web

  • ayondo celebrates being the first fintech to list in Singapore.
  • TD Bank leverages nCino’s Bank Operating System across corporate and commercial lending divisions.
  • CustomerXPs‘ Clari5 to power real-time AML solution for Bank of Ceylon.
  • PayActiv appoints COO.

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

On Finovate.com

  • Microblink’s Photopay Expands to New European Markets.

Around the web

  • Daon and Experian talk about fighting fraud with biometric technology on CNBC’s Squawk Box.
  • Let’s Talk Payments interviews Yodlee’s Terry McKeown on managing credit risk.
  • Banking Exchange profiles alternative lender, PayActiv.
  • The Silicon Review features Vantiv Head of Product for Integrated Payments, Moin Moinuddin.
  • FintekNews sits down with Unison Co-CEOs Thomas Sponholtz and Jim Riccitelli to discuss shared real estate investing.
  • Tesobe organizes cross-industry payments hackathon in Australia – Aug 11 thru 13th.
  • CRN names Veridium on its list of 2017 Emerging Vendors.
  • Total and Worldline Partner with Africa-based InTouch to help deploy Guichet Unique, a digital solution for retail networks.

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

On Finovate.com

  • NCR Unveils Business Banking Mobile App.
  • Inside Expensify’s New Concierge Bot.

Around the web

  • eFinancialCareers profiles Finovate newcomer, Overbond.
  • P2Binvestor wins finance and banking PowerBook award from Denver Business Journal.
  • Taulia tops one million mark for buyer-supplier relationships in its network.
  • Intellaegis announces new chairman, Mark Floyd.
  • Human Resource Executive magazine names PayActiv among its Top HR Products of 2016.

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

On Finovate.com

  • Holvi and SumUp Join Forces to Serve SMEs and the Self-Employed
  • CUneXus Closes $5 million Series A

Around the web

  • Cybersecurity innovator DefenseStorm adds Libertyville Savings Bank and PrimeRevenue as clients.
  • Prasac, the largest microfinance institution in Cambodia, launches mobile banking services courtesy of TranzWare from Compass Plus.
  • Cachet Financial Services partners with the Central Bank of Kansas City to roll out a reloadable prepaid card program.
  • OutsideIQ Brings Due Diligence Platform DDIQ to New International Markets
  • TSYS EVP and CIO Patricia Watson writes about the importance of strong enterprise architecture in fintech for CIO Review.

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

On Finovate.com

  • Jumio to Power KYC & AML Services for Krypto Commerce
  • NICE Unveils New Recording Technology for Skype for Business
  • Ripple Adds Multi-Sign Functionality to Consensus Ledger Technology

Around the web

  • New York Times DealBook looks at new payday options such as PayActiv.
  • ACI Worldwide taps Marco Bravo as VP for Latin America.
  • PYMNTS talks to Token CEO Steve Kirsh about how Token helps banks comply with the EU’s PSD2.
  • Clari5 Enterprise Fraud Management from CustomerXPs named Best Fraud Detection Product Award at Operational Risk Awards held by Operational Risk magazine and Risk.net.
  • David Foss officially appointed new CEO at Jack Henry.
  • ThreatMetrix sees 52% YOY revenue growth, now serves 17 top global FIs.

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

On Finovate.com

  • “Ripple’s New Partnership Lets Banks Test Blockchain and Ripple Integration”
  • Quantopian Adds Chief Investment, Compliance Officers Ahead of Opening Fund to Public”

On FinDEVr.com

  • UpGuard Brings Better Vulnerability Detection to ServiceNow”

Around the web

  • Kasasa partners with AudioEye to offer accessibility for community banks.
  • Zopa customers have borrowed $72 million+ this year for home improvement, a 54% increase in home improvement loans compared to the same period last year.
  • Ripple launches blockchain pilot program in partnership with Expertus.
  • Banking Technology reports that Temenos is nearing a core banking software deal with Iran’s Ayandeh Bank (Future Bank).
  • Fiserv earns a spot in Newsweek’s 2016 Green Ranking, which evaluates corporate environmental performance.
  • Google’s Economic Impact report profiles Onovative.
  • HousingWire reports: Mason-McDuffie Mortgage announces partnership with tech company Blend.
  • B2B Nation HR interviews PayActiv CEO Safwan Shah.
  • Infoworld feature on AI shares insights from OutsideIQ CEO Dan Adamson.
  • DigSouth highlights DoubleNet Pay and WealthForge in its look at fintech startups from the American South.

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

On Finovate.com

  • “San Francisco Times Recognizes Credit Karma as Best Fintech Company”

Around the web

  • Markit partners with BitSight Technologies to enhance its Know Your Third Party (KY3P) platform.
  • Coinbase launches Buy widget to create a better Bitcoin buying experience.
  • Wipro open sources its big data solution, Big Data Ready Enterprise (BDRE).
  • itBit publishes its Bitcoin OTC Market Recap for March.
  • American Banker looks at the relationship between EyeVerify and Wells Fargo.
  • Money Q&A reviews Wall Street Survivor.
  • AltFi investigates how the loan-validation expertise of Global Debt Registry might help the P2p lending market.
  • Q2 subscribes to FI Navigator’s cloud-based mobile banking module.
  • Top Image Systems delivers $100,000 eFLOW project to subsidiary of a national postal service group in Asia-Pacific.
  • Barron’s features Student Loan Genius and PayActiv as employee benefits aimed at millennials.
  • Xero featured as one of first New & Notable Apps on Google Apps Marketplace.
  • SF Business Times features CEO Talbott Roche of Blackhawk.

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

FinovateSpring 2016 Best of Show Winners Announced

FinovateSpring 2016 Best of Show Winners Announced

IMG_1542

Heading into FinovateSpring 2016, we knew that one of the big themes would be the use of video for everything from authentication to improving customer engagement. And it seems like the hundreds of votes cast in our FinovateSpring 2016 Best of Show awards saw it the same way. Of the six Best of Show trophies awarded on Wednesday afternoon, two went to companies—SaleMove and Silver6that are helping to make visual technology a bigger part of fintech innovation.

In fact, the more we think about it, the more we see how Best of Show award winner Quid—with its interactive maps that help businesses better navigate big data—is part of this larger trend toward leveraging the visual. Whether to better connect customers and clients with merchants and advisers, or to help make data more accessible and actionable, when it comes to fintech innovation, the “eyes” have it.

Our Best of Show voters were also impressed by the way innovators are using technology to solve the challenges of refugee populations and the underbanked (BanQu); the cash-flow struggles of working families (PayActiv); and even to help middle-class investors better track their finances across peer lending platforms (LendingRobot). This year’s Best of Show vote is real testament to both the diversity and social engagement that defines fintech in 2016. And truth told, it is a beautiful thing to see.

So let’s take a closer look at the award winners for Best of Show at FinovateSpring 2016 (in alphabetic order):

BanQu - true vector copyBanQu for its blockchain-based identity platform that enables financial inclusion and empowers the underbanked to join the global economy.

 

 

LendingRobot copyLendingRobot for its dashboard that helps investors track investments across peer lending platforms like Lending Club and Prosper.

 

PayActiv Logos CMYKPayActiv for its real-world alternative to payday loans that gives workers access to earned but unpaid wages.

 

Quid copyQuid for its web-based intelligence platform that leverages big data analytics, natural language processing, and network science to turn data searches into visual explorations.

 

SaleMoveSaleMove for its engagement platform that creates high-touch customer interactions using video, voice, and chat.

 

Silver6 copySilver6 for its financial video platform that enables businesses to use video personalization to provide custom communications.

 

We hope you enjoyed FinovateSpring 2016. We had a great time hosting this year’s event and are already looking forward to our return to San Jose next year. Many thanks to all those who supported, attended, sponsored, partnered with, and demoed their latest and greatest innovations live on stage. We’ll see you again in 2017!


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 six 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 through 2014. Best of Show winners from FinovateEurope 2015 are here. Best of Show winners from FinovateSpring 2015 are here. Best of Show winners from FinovateFall 2015 are here. Best of Show winners from FinovateEurope 2016 are here.

FinovateSpring Sneak Peek: PayActiv

FinovateSpring Sneak Peek: PayActiv

PayActiv_homepage_April2016

FS2016-wdateA look at the companies demoing live to 1,500+ fintech professionals on May 10 & 11. Register today.

PayActiv is a real alternative to small dollar, predatory loans, with no additional debt. PayActiv provides turnkey, on-demand access to earned but unpaid wages.

Features:

  • Re-imagine savings in units of time
  • Change savings mindset—make it fun, practical, and achievable

Why it’s great

End financial stress with savings, dignity, and no additional debt.

PayActiv_SafwanShahPresenter: Safwan Shah, Founder and CEO

An engineer, entrepreneur, and educator, Shah has previously founded, boostrapped, and sold a payments company to TSYS. He is now inspired every day by PayActiv’s transformative impact for society.
LinkedIn

Finovate Alumni News

On Finovate.com

  • “Persado Pulls in $30 Million in Funding Led by Goldman Sachs”
  • “Ally Financial Acquires TradeKing for $275 Million”

Around the web

  • Mistral Mobile unveils its new, two-factor authentication solution, m-Aegis Secure OTP.
  • Azimo announces expansion within Denmark and Sweden.
  • TransferTo adds GGV Capital venture partner, Lee Kheng Nam, to its board of directors.
  • Alpha Payments Cloud teams up with WeCollect to launch China Payments Cloud.
  • Broadway Bank selects Micronotes’s cloud-based marketing automation platform to boost digital customer engagement.
  • RBC partners with BlackRock’s FutureAdvisor for robo-adviser pilot program.
  • “OutsideIQ Chosen To Participate In Brazilian Innovation Summit”

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.