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Finovate Alumni News– April 3, 2014

By David Penn Posted on April 3, 2014
Categories: Actiance, BancVue, Braintree, Insuritas, Kantox, Misys, Nostrum Group, PayPal, Top Image Systems

Top Image Systems wins awards for innovations in crowdsourcing and mobile imaging.

Insuritas E-InsuranceAISLE Platform generated more than 2 million product impressions in March. The technology is deployed in more than 50 banks and credit unions, supporting more than $1.5 million in product sales. See them demo at FinvoateSpring.

Misys trade and supply chain finance processing platform embraced by National Australia Bank (NAB).

Nostrum Group announces opening of new office in London.

Kantox integrates AU10TIX B.O.S solution to auto-classify, authenticate and extract data from of images of customers ID documents.

Compliance Week looks at how Actiance helps banks stay compliant with social media.

The Australian looks at PayPal’s Braintree.

BancVue launches new youth spending app, PiggyBot.

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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Eleven Finovate Alums Win Awards at PYMNTS Innovation Project 2014

By David Penn Posted on March 24, 2014
Categories: Bill.com, Credit Karma, Klarna, Lending Club, Mitek, PayNearMe, PayPal, PaySimple, Prosper, Ripple, Venmo

The votes are in. The judges have decided. And 11 Finovate alums have earned awards at the 2014 PYMNTS.com Innovation Project, including three gold medals.

Finovate alums won awards in a diverse range of categories, from “B2B Innovation” to “Best Comeback Story.” Areas where alums dominated included “Best Credit Innovation,” where Credit Karma, Lending Club, and Klarna swept the field, as well as “Best Innovation via ACH” and “Best Check Innovation.”

The Innovation Project is “powered by PYMNTS.com,” a joint venture between BusinessWire and Market Platform Dynamics. The event is in its second year, and was again held at Harvard University in Cambridge, Massachusetts.

A total of 49 awards were presented. Gold, silver, and bronze in fifteen categories, plus singular Catalyst, Women Driving Innovation in Payments, Lifetime Achievement, and Best in Show awards.

Also announced were three inductees to the Payments Hall of Fame.

See how the rest of the Finovate family fared below.

Catalyst Award

PayPal

International e-commerce payments and money transfers
Finovate demo video: Europe 2012

Gold

Bill.com

Best B2B Innovation
Cash flow management solution for business integrating electronic payments, accounting, digital documents, and more
Finovate demo video: Spring 2012

Credit Karma

Best Credit Innovation
Aggregates consumer financial data from bank accounts and credit scores to mortgage loans in one location
Finovate demo video: Startup 2009

PaySimple eCheck

Best Check Innovation
Enables check payments without having to write paper checks
Finovate demo video: Spring 2012

Silver

Lending Club

Best Credit Innovation
Online, peer-to-peer lender
Finovate demo video: Startup 2009

Pay Near Me

Best Cash Innovation
Cash transaction network
Finovate demo video: Spring 2013

Ripple Labs

Best New Technology
Open-source, distributed payment protocol
Finovate demo video: Spring 2013

Venmo

Best Innovation via ACH
Best Check Innovation
Send money to a Venmo account, bank account or supported debit card for free
Finovate demo video (with Braintree): Spring 2013

Bronze

Klarna

Most Innovative Company
E-commerce solution mitigates credit and fraud risk for online merchants
Finovate demo video: Spring 2012

Ripple Labs

Most Disruptive Innovation

Prosper

Best Comeback Story
Peer-to-peer lending
Finovate demo video: Finovate 2007

Klarna

Best Credit Innovation

Mitek

Best Innovation via ACH
Solution leverages mobile device camera to enable check deposit, account opening, and bill pay.
Finovate demo video: Fall 2013

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Finovate Alumni News– March 21, 2014

By David Penn Posted on March 21, 2014
Categories: App Annie, MasterCard, MiiCard, PayNearMe, Payoneer, PayPal, Ping Identity, Q2ebanking

TechCrunch features an interview with App Annie CEO, Bertrand Schmitt.

MasterCard announces MasterPass debut in China.

Q2 goes public, shares rally early in trading debut as company earns $533 million market cap.

miiCard working with eMerchantPay to offer merchants a more secure payment processing platform.

PayNearMe partners with self-storage management software E-SoftSys to enable users to accept cash payments online.

PayPal to let UK users order food ahead of visiting a restaurant, and use its app to pay for their food with a four-digit code when eating at a restaurant.

Venture Beat: Ping Identity acquires Accells Technologies.

Payoneer wins role as payments provider for Google Trusted Stores.

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– March 19, 2014

By David Penn Posted on March 19, 2014
Categories: BlinkMobile Interactive, Float Money, ID Analytics, IntelliResponse, iQuantifi, Kabbage, Monitise, PayPal, Personal Capital, Ping Identity, ShopKeep POS, TradeKing

Ping Identity announces partnership with Courion.

Desert Schools FCU to deploy mobile banking platform from Monitise.

Check out our CEO interview with Shane Hadden of Float Money.

Blue Cross and Blue Shield of Kansas City to use virtual agent technology from IntelliResponse to respond to Affordable Care Act queries. See IntelliResponse demo at FinovateSpring in April.

ID Analytics launches new versions of its Transaction Protector and Transaction Advanced Intelligence products for eCommerce.

Upstart Business Journal looks at how Kathryn Petralia and Kabbage are rewriting the lending rules.

BlinkMobile Interactive signs first NZ Council deal.

Southern Alpha calls iQuantifi “a budget platform we actually like to use.”

Payment Source features Jason Richelson, founder of ShopKeep POS.

Bill Harris, Personal Capital CEO & former PayPal CEO discusses the future of PayPal on Bloomberg TV. See Harris demo Personal Capital’s latest development at FinovateSpring next month.

TradeKing earns four-stars in Barron’s online broker rankings for eighth consecutive year.

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– March 18, 2014

By Julie Muhn (@julieschicktanz) Posted on March 18, 2014
Categories: Braintree, Budgettracker, DoubleBeam, Fiserv, Nostrum Group, PayPal, PaySimple, Realty Mogul, Tradeshift, Tyfone, Virtual Piggy

Fiserv to adopt Visa’s debit EMV solution to offer issuers, acquirers and merchants an approach for debit EMV adoption.

Tyfone appoints former UBS managing director Nizar Jamal as Chief Technology Officer.

Pymnts considers Tradeshift’s growth.

PaymentsSource: Virtual Piggy’s Oink partners with European Games Group.

App Shopper features BudgetTracker’s iOS mobile app.

Realty Mogul crowdfunders top $100 million worth of real estate investment.

VentureBeat takes a look at mobile payment success stories including PaySimple, Braintree, and PayPal.

TD Bank enhances online money movement services with addition of Popmoney and TransferNow from Fiserv.

DoubleBeam powers new mobile app for Foodland Super Market.

Nostrum Group reports revenue gains of more than 80% to £7 million. for FY 2013.

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– March 13, 2014

By Julie Muhn (@julieschicktanz) Posted on March 13, 2014
Categories: Azimo, BBVA, BBVA Compass, Cardlytics, Kashoo, mBank, Narrative Science, PayPal, Tink

Payments News: MasterCard, Fiserv partner on Debit EMV for Accel Network.

Xero named top choice in the list of “favorite online-based business accounting apps” by both PCWorld and Macworld.

Tate Design blog features BillGuard.

Credit Karma brings in $85 million in financing led by Google Capital.

Compliance Week reports: Actiance’s partnership with Shoutlet provides companies with compliant social marketing.

Expensify integrates with NetSuite and Stripe, raises maximum expense report amount, and more.

Cardtronics announces agreement with BBVA Compass for branded ATMs in Texas H-E-B stores.

PayPal’s Pamela Rice joins OnDeck as SVP of Technology.

Azimo raises $10 million in round led by Greycroft Partners.

Freshminds explains how Tink, mBank and BBVA are “redefining customer centricity.”

Kashoo earns spot on ICT 2014 Ready to Rocket list.

Smart Data Collective highlights Quill from Narrative Science in a column on the business applications of artificial intelligence.

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– March 10, 2014

By David Penn Posted on March 10, 2014
Categories: Blackhawk Network, PayPal, Taulia, Think Finance, TSYS

TSYS announces accessibility update to Credit Care, featuring new UI and single sign-on.

Think Finance teams up with Equifax to bring credit assessment tools to its lending solution, Sunny.

PayPal revamps website.

TechRadar.pro chats with Taulia’s co-founder and CPO, Maex Ament, on the company’s Dynamic Discounting solution.

Blackhawk Network wins Paybefore Award for its “BEFORE YOU” marketing campaign.

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– March 8, 2014

By Julie Muhn (@julieschicktanz) Posted on March 7, 2014
Categories: Actiance, BBVA, Braintree, Kensho, Loop, Moven, Numbrs, On Deck Capital, PayPal, Simple

Actiance partners with Shoutlet to integrate Shoutlet’s social marketing capabilities with Actiance Socialite.

PayPal’s Braintree to waive the first $50k of processing fees for startups building on its platform through its new Ignition program.

On Deck raises $77 million in funding round led by Tiger Capital.

Mechanics Bank’s Bradley Leimer takes a look at the lessons from BBVA’s acquisition of Simple.

Simple, Moven, and Numbrs are listed in American Banker’s feature “6 Apps That Are Making Bankers Jealous.”

Recode reviews Loop. Check out its new payment tech at FinovateSpring next month.

The Tally’s Financial News Fintech Focus column features Kensho.

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 25, 2014

By Julie Muhn (@julieschicktanz) Posted on February 25, 2014
Categories: ACI Worldwide, Allied Payment Network, Aptys Solutions, Authentify, BBVA, Kapitall, Lendio, MasterCard, PayPal, ShopKeep POS, Simple, ThreatMetrix, Tyfone, Wallaby Financial

Netbanker considers why the BBVA Simple Bank deal is extraordinary.

American Association of Motor Vehicle Administrators selects Authentify for NSTIC Trusted Online Identities Pilot.

ThreatMetrix wins Most Innovative Anti-Malware Solution and Best Product Network Access Control Solution at 2014 Cyber Defense Mag Awards.

Tyfone unveils Fluide mobile banking platform.

PayPal to be the first payment provider on the latest Samsung Gear 2 smartwatches.

Lendio marks a year of record growth.

Kapitall announces $13 million in funding in round led by Linden Venture.

Wallaby launches Google Glass payment app.

ShopKeep POS wins global Gold Stevie Award for Sales & Customer Service for 2nd year in a row.

MasterCard partners with Syniverse to pilot location-based, anti-fraud service.

MoadBus to offer Allied Payment Network’s PicturePay.

ACI Worldwide to power online banking for Trustco Bank.

Bankers’ Bank to deploy Aptys Solutions‘ PayLOGICS originating and processing wire service.

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 23, 2014

By Julie Muhn (@julieschicktanz) Posted on January 23, 2014
Categories: Arroweye Solutions, BillGuard, Fidor Bank, HelloWallet, Jingit, PayPal, Wipit

Vanguard partners with HelloWallet to help employees save more for retirement.

Sprint introduces Sprint Money Express; offers subscribers a card for all their cash to pair with Wipit offering.

PaymentsNews shows a graphical view of PayPal’s performance.

Arroweye Solutions named winner in eighth annual Paybefore Awards.

BillGuard brings email-like UI to mobile banking transaction flow.

Jingit talks mobile payments and advertising on CauseTalk Radio.

Fidor Bank to launch bitcoin derivatives market.

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 21, 2014

By David Penn Posted on January 21, 2014
Categories: Azimo, Fenergo, GMC Software Technology, PayPal, SafetyPay, Swipely, Temenos, TransferWise

Fenergo taps Stan De Schepper for SVP, Americas.

National Bank of Andrews, AimBank to adopt Temenos T24 core processing platform. See Tememos at FinovateEurope in London.

Business Review Europe takes a look at Azimo’s expansion into Austria.

GMC Software Technology recognized as industry leader in latest Forrester Research Wave report.

Technics and Time feature PayPal and TransferWise in list of ways to pay without your wallet.

Swipely unveils its “Winter ’14” release to extend its service to help restaurant and hospitality customers make smarter decisions.

SafetyPay signs agreement with Brazilian firm Privalia.

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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PayPal Extends Working Capital Pilot Program to Support Small Business Lending

By David Penn Posted on January 3, 2014
Categories: PayPal

PayPal has announced plans to extend its trial initiative that provides small business loans to its U.S. merchants.

The initiative, called the Working Capital pilot program, offered 90,000 of PayPal’s U.S. merchants the opportunity to borrow against their annual PayPal revenue (up to 8% or a maximum of $20,000). The program was initially set for three months, but PayPal will be extending the initiative en route to a global roll out in 2015.

The move into small business lending puts PayPal in direct competition with Kabbage (also a Finovate alum). According to PayPal, more than 4,000 loans have been processed through the program.

PayPal charges a flat fee for the loans, collecting neither interest nor additional fees (including late fees). In return, PayPal gets paid by deducting 10-30% from the merchant’s daily receipts. The flat fee and the percentage deduction are inversely related, meaning a higher flat fee will produce a lower daily percentage deduction.

PayPal will not deduct from merchants that do not record a sale on a given day. The company says that in addition to not issuing late fees, it will not impose repayment deadlines or conduct credit checks on its small business borrowers.

Founded in 1998, PayPal became a wholly owned subsidiary of eBay in 2002. The company has revenues of more than $5 billion annually and appeared on the Finovate stage as part of FinovateEurope 2012.

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