Finovate Alumni News– October 15, 2012

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgTradeshift announces strategic partnership with PrimeRevenue SCF.
  • Thomson Reuters launches mobile web app for investor relations.
  • CashStar and Comet launch UK’s first comprehensive eGift card program.
  • PaySimple appoints former PayPal employee Andrew Lanthier as CTO.
  • Upstart Business Journal looks at the approach Kabbage and Lighter Capital take on small business financing.
  • Q2ebanking introduces Q2clarity, customizable analytics across mobile, online and security platform.
  • Barron’s recommends using findabetterbank.com to cut bank fees.
  • City AM reports Monitise user numbers quadrupled in the last year to 17m.
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– September 27, 2012

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgZipZap to power global cash payments for omba.
  • Forbes mentions Credit Sesame, Tuition.io, PayTap, Digital Mailer as 4 tools to help you manage your money.
  • Capital Access Network closes $295 mil credit that to serve the small business community.
  • PYMNTS chats with Kabbage’s co-founder & chief operating officer, Kathryn Petralia.
  • GambleID taps Locaid for geolocation services.
  • PC World features Yodlee, ShopKeep POS, Bolstr, PaySimple, CommunityLend, & Billhighway.
  • CU Times reports Mortgagebot Launches First Credit Union on Integrated Platform.
  • SafetyPay, in conjunction with the Bank of Montreal, the RBC, TD Bank & Scotia Bank, offers online payment service via Canadian Interac network.
  • Fiserv selected as Affinity Provider in FPA Practitioner Resource Guide.
  • Currensee delivers PAMM Replacement Solution for CTAs and Money Managers.
  • Netbanker: BillGuard is first financial service to Integrate with the New iPhone Passbook Wallet.
  • Compass Plus partners with WorldWide Financial Services.
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.

PaySimple Helps Small Businesses Get Paid Faster

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Next, PaySimple demonstrated its solution to help small businesses get paid faster and increase customer engagement:

“Late payments and business growth challenges continue to plague small businesses. PaySimple has recently launched a get paid faster while you grow your business feature set. This new innovation ensures small businesses get paid faster through simple automation of early payment incentives and late payment penalties. 

In addition, the innovative features promote business growth by driving social engagement as a natural extension of the payments flow. The social features help businesses grow their social following and improve their online review presence to retain active customer engagements and become a more attractive option to new potential customers.”

Product Launched: April 2010
HQ Location: Denver, CO
Company Founded: January 2006
Metrics: $28.5M raised, 75 employees
Website: paysimple.com
Twitter: @PaySimple
Finovate demo videofinovate.com/fall12vid/ (demo video will be posted next week)
Introducing Eric Remer (CEO) and Jenae Wiegert (VP, Product)
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Finovate Alumni News– August 21, 2012

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgThreatMetrix announces availability of the latest ThreatMetrix Cybercrime Defender Platform.
  • Dashlane wins Two Awards for Innovation in Data Privacy and Personal Data at DataWeek. Come to FinovateFall to see Dashlane’s demo.
  • PaySimple appoints Sue Heilbronner as Chief Revenue Officer. See PaySimple’s demo at FinvoateFall next month.
  • Taulia provides e-invoicing & supplier self-service capabilities to a select group of suppliers for large enterprises, free of charge.
  • Credit Union Times reports Geezeo reaches 100 clients.
  • 2 Minute Finance interviews TASCET at FinovateSpring 2012.
  • E-Loan partners with Credit Karma, Lending Club, and SimpleTuition.
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 2012 Sneak Peek: Part 1

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We’ve selected over 60 leading innovators to take the stage for the sixth annual FinovateFall conference in New York on September 12 and 13.

Each company provided a sneak peek of what they’ll demo next month. Below is the first installment of these teasers. We’ll have more next week.

Don’t miss your chance to see the live demo from each company and meet the execs responsible. Get your FinovateFall ticket here.

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Socialite from Actiance allows financial advisors, agents and sales and marketing to engage with clients, build customer relationships, and create a personal brand – all while being compliant with FINRA and SEC regulations. 
At Finovate you will see for the first time the integration of Actiance’s Socialite platform with Salesforce enabling users to maximize the power of Salesforce, monetize their social involvement and increase revenue. Now users can Link Socialite contacts to Salesforce accounts and send Socialite activity to Salesforce when contacts provide feedback or respond to posted content. In addition, we will be showcasing our new Socialite Mobile application for the iPhone.
Innovation type: Marketing, sales, security

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Come meet Billhighway at the intersection of technology and philanthropy! It’s your chance to witness the debut of a faster, more compelling way to fundraise. Billhighway’s mobile application, unveiled for the first time at FinovateFall 2012, brings a mobile cashless approach for an easy, secure, fun way for folks to give in real time, and perhaps give more! 
The application is specifically developed for nonprofits to effectively increase funding from new sources. A great example of technology used for good, nonprofit organizations immediately collect and put to use mission-critical donor funds, the lifeblood of their efforts to do more good.
Innovation type: Marketing, mobile, payments

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BCSG will be launching an innovative and customizable cloud-based package at FinovateFall 2012, incorporating the most important tools a small business owner needs to manage and grow their business. For just $25 a month, users will get access to several market leading applications via one online platform using a single username and password. This unique package has been developed specifically to address the day to day challenges small businesses owners face and is supplied through financial institutions.

Innovation type: Online UI, PFM, small business

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CommunityLend’s product, Financeit, enables businesses to offer installment loans to their customers at the point of sale. Since launching in January of 2011, they have signed up over 1,200 merchant partners and processed over $130MM in loans. The key verticals are vehicle, home improvement, retail and health.
CommunityLend has raised over $9MM in financing since launch and is now pursuing a U.S. expansion strategy. Lending capital comes from banks and other institutional investors.
Innovation type: Lending, payments

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Can “The Cloud” be trusted to store important files? Are safe deposit boxes still practical in the age of electronic documents? Is there a way to ensure “Total Information Privacy” for the customer? My Virtual StrongBox is the online answer to safe deposit boxes. Customers store electronic copies of important documents in this easy-to-use filing system AND retain ownership of their documents. Files are managed by, and only visible to, the customer. Financial institutions using My Virtual StrongBox add one more sticky product to their list of benefits and keep customers around for years to come. Learn more at myvirtualstrongbox.com.
Innovation type: Banking products, PFM, small business

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Optimize your online marketing and improve your acquisitions strategies with Experian’s Premium Prequalification, a powerful credit-screening tool that allows institutions to proactively utilize individual credit data online in real time to:

    • Empower and educate consumers with a snapshot of their credit health
    • Save consumers time and money by instantly providing them with their most viable options at the very start of their shopping experience 
This best-in-class process also offers Prequalification Triggers, notifying consumers of recent chan
ges to their credit while offering relevant products, and Credit Comparables, which compares individual credit to the average in their area. Redefine your acquisitions strategies today with Experian’s Premium Prequalification
Innovation type: Cards, lending, sales

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Fiserv understands that convenience and supporting user preference are keys to increased adoption and usage of digital payments. Our innovation seamlessly blends a variety of information input modes in our mobile banking application, Mobiliti Enterprise
Using our applications, users can choose from traditional keypad and screen touch interaction, image capture and OCR, or voice-driven commands and inputs to make payments. And a key feature is that users can effortlessly switch modes at any time, whenever they want – even in the middle of a transaction.
Innovation type: Banking products, mobile, payments

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In a world optimized to get us to spend more at every turn, ImpulseSave has made saving your money just as easy and instantly gratifying as spending it. Our simple web and mobile tools incent consumers to turn every point of sale into a “Point of Saving”, as well as every point in between. 
ImpulseSavers are saving close to $4,000 per year on average. While others argue that greater discipline and better budgets are the answer, ImpulseSave represents the exact opposite approach. Instead of trying to change consumer behavior, encouraging more self-denial, we’ve actually transformed saving itself to leverage that very behavior, making saving as impulsive, fun, even addictive as is spending.
Innovation type: Communications, marketing, PFM

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Ready, Set, Locate! See how one easy-to-use API can locate any customer or cardholder mobile phone for authentication or mobile marketing. No apps to download, it works on feature phones, smart phones or on any carrier. Mobile phone network location can be a low cost, high quality, unspoofable authentication factor for mobile payment and credit card identity. 
See Locaid’s live location demo that can be easily integrated into any CRM system, mobile marketing, web services or anti-fraud applications. With a mobile device number and permission, you can locate 350 million devices via our location privacy platform.
Innovation type: Identity, marketing, mobile

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See how financial institutions can save millions by implementing BankFiling, a first-of-its kind innovation that delivers significant ROI yet requires limited investment. A whole new approach to commercial and business banking! Prepare yourself!
Innovation type: Banking products, lending, small business

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The fear of not getting paid and concern over finding new clients is keeping small business owners up at night. PaySimple is launching a “get paid faster while you grow your business” addition to its PaySimple Pro receivables automation solution. The innovation automates pricing to ensure the small business is paid on time and also fosters social engagement as a natural extension of the payments process.
Innovation type: Online UI, payments, small business

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Times are tough. The kids are in college. You’re caring for aging parents. You’re underemployed. You have bills. Bills that are due. But your family and friends want to help. Because that’s what family and friends do. If only there was a way for them to provide this financial help quickly. Conveniently. Securely. Online. Without the hassle of sending cash and checks, or the high cost of wire transfer services. Meet PayTap.
Innovation type: Communications, payments, PFM

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Personal Capital is wealth management for the Internet Age. The company’s online platform combines digital technology with highly personalized service to provide a holistic view of your unique financial picture. The free online dashboard, iPad and iPhone apps present all of your financial data in one place, showing you exactly what you own and what you owe, in real time. 
At Finovate Fall, Personal Capital will unveil new features that enable even greater transparency into your money for the long-term: your retirement. Do you know how much your 401(k) costs?
Innovation type: Investing, online UI, PFM

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Pindrop Security’s technology is being used by banks to identify fraud callers and to prevent fraud transactions. In the Fall of 2012, we’ll introduce our latest solution for financial institutions that rely on the phone for transactions. Join us for the debut at FinovateFall 2012!
Innovation type: Identity, security

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Prepaid Resources introduces BenefitsDirect ‘Direct Deposit Management’.
Capture recurring Federal benefits, State benefits and Payroll deposits through your accountholder website, in-branch, at retail, by mobile app or via live agent. Track enrollment success and measure direct deposit activity to proactively personalize accountholder relationships.
Innovation type: Banking products, cards

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ShopKeep solves the last mile in local. It enables vertical partners from delivery, payments, loyalty, and deals to connect directly to SMBs. A revolutionary iPad based SaaS product, ShopKeep’s POS system makes traditional cash register products obsolete. 
For $2/day merchants receive a high end operating system and can manage their store even when they are not inside it. Made in NYC, ShopKeep now has over 2,500 customers. It provides merchants flexibility to choose their credit card processor and offers unheard of customer support and economics. ShopKeep POS is the simplest way for retailers to make smarter business decisions.
Innovation type: Payments, sales, small business

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Stockr

Stockr is a finance portal for the social web. For most people, investing is more social than scientific, and investment ideas come from close friends, trusted advisors and various periodicals. 
Stockr embraces this social element of investing, creating powerful connections among those who have actionable information and those who are seeking it. While other portals compete on content, our view is that content becomes most relevant and actionable when it’s shared and discussed.
Innovation type: Investing & asset management, PFM

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Everyone has come to expect innovative, reliable and low cost local currency payment services, yet we continue to live with expensive and unreliable international payments. Over $37 trillion in foreign currency payments are sent or received each year. The international payment services offered by the major banks are far from satisfactory. The Currency Cloud evolves the international payments process – we make currencies simple.
Innovation type: Back office, payments, small business

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With Tuition.io, student loan borrowers can easily access all their loans in one visually appealing dashboard, use graphical visualization tools to compare them and get customized optimization plans that take advantage of little-known and hard-to-understand restructuring options.
Innovation type: Banking products, lending, PFM

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The mobile phone is fast becoming a dominant player in payments and banking worldwide. As electronic fraud will certainly be drawn to the new medium, so too must security be made usable, flexible and ultimately reliable. ValidSoft’s proprietary technology can secure all transaction channels, in real-time. All our solutions are telecommunications-based. 
At FinovateFall 2012 we will show you how our advanced mobile payments authentication platform, SMART, supports a mobile wallet product and demonstrate how scalable and flexible it can be.
Innovation type: Identity, payments, security
Stay tuned next week for another sneak peek of FinovateFall 2012 presenting companies.

Finovate Alumni News– June 4, 2012

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgO’Reilly Radar takes an in-depth look at FutureAdvisor, interviews CEO Bo Lu.
  • Business Insider recommends Mint & BillGuard as worthy personal finance apps to help you control your finances.
  • Strands Finance, selected as tech partner of PostFinance, a Swiss FI & payment transactions provider.
  • HIT Consultant features Diversinet CEO on Newest Podcast.
  • Security Service FCU selects Tyfone to deliver next gen mobile services.
  • PaySimple named to JMP Securities Hot 100 Software Companies 2012.
  • Austin’s Statesman.com asks: Can Bazaarvoice IPO be catalyst for new wave of startups?
  • Altoona’s Hearld-Index profiles T8 Webare.
  • Barron’s looks at SigFig as A Take-Charge Portfolio Manager.
  • InComm & Absolute Software form partnership.
  • The Examiner looks at how Virtual Piggy is protecting kids online & interviews Founder & CEO, Dr. Jo Webber.
  • Check out the latest founder interview: Laura Mather of Silver Tail Systems.
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– May 30, 2012

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgTradeshift to Offer Taulia’s Dynamic Discounting.
  • Startup Beat interviews CoverHound CEO, Basil Enan.
  • Acculynk and National Payments Corporation of India Announce Internet PIN Debit Partnership.
  • miiCard Launches Twitter Trust Campaign By Verifying Real Identities.
  • PaySimple Named Red Herring Americas Top 100 Winner.
  • Financial Post discusses Kashoo’s mobile distribution strategy.
  • High Beam Research reports on DoughMain’s financial education pointers.
  • TechCrunch reports BOKU Scales Up, Will Power Carrier Billing For In-App Payments In The T-Mobile Mall.
  • CU Times reports MoneyDesktop Adds 17 Credit Unions as PFM Users.
  • Check Point Introduces New Security Acceleration Module with Advanced SecurityCore Technology for High Performance in Low Latency Environments.
  • CNN Money Launches New Investing Home Page with StockTwits Trending Tickers.
  • Advocate’s Studio recommends Enloop for when you need a fast business plan.
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 2012 in the Press

Here’s a look at press coverage from FinovateSpring 2012 in San Francisco last week. For comprehensive coverage, be sure to check out Erin McCune’s live blog on PaymentsViews, which covers all 63 presenting companies:

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2 Minute Finance
2MF @ Finovate Spring 2012 Conference
by Bobby Lee
Link

BillGuard Demo @ Finovate Spring 2012 Conference (Day 1)
by Bobby Lee
Cardlytics Demo @ Finovate Spring 2012 Conference (Day 1)
by Bobby Lee
Concur Demo @ Finovate Spring 2012 Conference (Day 1)
by Bobby Lee
Flint Mobile Demo @ Finovate Spring 2012 Conference (Day 2)
by Bobby Lee
Mitek Systems Demo @ Finovate Spring 2012 Conference (Day 1)
by Bobby Lee
TIO Networks Demo @ Finovate Spring 2012 Conference (Day 1)
by Bobby Lee
WattzOn Demo @ Finovate Spring 2012 Conference (Day 1)
by Bobby Lee
Bank Innovation
5 Finovate Demo-ers’ News Catching Our Eye
by Mary Wisniewski

4 More Finovate Products We Like
by Mary Wisniewski

Bank Technology News
Best of Finovate Spring Day 1
by Penny Crosman
Best of Finovate Spring Day 2
by Penny Crosman

Dwolla Pitches Fast Fund Transfers, but Bank Participation is Vital
by Sean Sposito
Edo to Harness Payment Data to Spur Consumer Spending
by Victoria Finkle

WattzOn Helps Banks Help Customers Save on Energy Bills
by Sean Sposito

BankersLab Blog
CreditLab Launch: Reactions and Responses

BankNXT
Finovate, Simple, and Re-Imagining Banking Applications
by Bradley Leimer
Live at FinovateSpring 2012- day 1
by Jelmer de Jong
Live at FinovateSpring 2012- day 2
by Jelmer de Jong

BetaKit
CoverHound Debuts Comparison Tool for Auto Insurance 
by Cheronne Thurab 

Business Insider
Finally, a Mobile App That Helps You Save Money: Meet Urge
by Willy Staley

Business2Community
What Does $4.6 Billion in Coupon Savings Have to Do with Savvy Consumers?
by Andre Bourque

C’est pas mon idée!
FinovateSpring 2012: quoi de neuf?
by Patrice Bernard

Currency Marketing Blog
Four Conference in Four Days
by Tim McAlpine

Credit Union Times
MoneyDesktop Named Best of Show at FinovateSpring Conference
by Natasha Chilingerian

Daily Disruption
Flint Mobile Announces Beta Launch at Finovate and Closes $3 Million Round of Financing
by Tim Rygh

The Daily Guardian (BillGuard’s blog)
Financial Community Awards BillGuard Best Of Show at Finovate
by Maryanne

DCisions Blog
DCisions at Finovate Spring 2012
by Kritika Ashok

Des Moines Register 
Dwolla offers software for free
by Adam Belz

Des Moines Register Blog
Dwolla, Social Money earn praise at national banking conference
by Marco Santana

Exc
elsior
Kuspit, el primer Finovate mexicano
by Alicia Salgado

Experian Blog
Business IQ Express… what is the media saying?
by Roslyn Whitehurst 

FamZoo Blog
Finovate Winners
by Bill Dwight

Finextra
Flint taps phone cameras for card payments
SoMoLend closes $1.17 million seed round

Forrester Blog
Finovate Spring 2012: Digital Financial Services Innovation
by Tiffani Montez

FP Pad
[Video Spotlight] inStream Solutions CEO Alex Murguia at FinovateSpring 2012
by Bill Winterberg
[Video Spotlight] iQuantifi CEO Tom White at FinovateSpring 2012
by Bill Winterberg
[Video Spotlight] Sarah Carter of Actiance at FinovateSpring 2012
by Bill Winterberg

Iconowatch
Accelerating Innovation at Finovate 2012
by Hans Eisenbeis
Investment News
Personal Capital launches iPhone app
by Davis Janowski
Lazy Man and Money
What’s Hot and What’s Not from Finovate 2012
Mercury News
Money Goes Mobile 
Montreal Gazette
Montreal’s Wall Street Survivor teaches about investing
by Jason Magder
MyBankTracker
Can FinTech Stop You from ‘Showrooming?’
by Willy Staley
MoneyDesktop: How Personalized Deals Shine in PFM Tools
by Simon Zhen
Save Your Wallet, and Maybe the Planet, with WattzOn
by by Willy Staley
On Deck Capital Blog
Photo Journal: Our Finovate Demo
PaymentsNews
Highlights from Finovate Spring 2012 San Francisco 
PaymentsViews
Live Blogging Finovate Spring 2012 San Francisco
by Erin McCune
The Paypers
ZipZap rolls out CashCade payment service
PaySimple Blog
PaySimple at Finovate
by Sarah Jordan
PC World
New Web Apps and Services for Business
by Yardena Arar
QuidLabs
Finovate Best in Show
by Aliisa Rosenthal
SecurityPark.net
BehavioSec voted ‘Best of Show’ for biometric solution by audience at Finovate Spring, San Francisco
Silicon Prairie News
With upgraded FiSync, Dwolla cuts 3-5 day wait to real-time
by Michael Stacy
Silver Tail Systems Blog
Finovate Spring Demonstrates a Growing Richness in Online Interactions
by Laura Mather
Social Lending Network
Roundup of Social Lending News – May 12, 2012
by Peter Renton
TechCrunch 
Capital One Snags Mobile Savings Startup BankOns, Team Moving To Capital One Labs
by Sarah Perez
Flint: A New Mobile Payment App For Small Businesses Picks Up $3M From Storm, True Ventures
by Ingrid Lunden
How Personal Capital Wants To Bring Money Management Into The Internet Age [TCTV]
by Colleen Taylor
Nearing The 1M User Mark, Expensify Adds ‘Trips’ Feature To Mobile Apps
by Colleen Taylor
The Anti-Groupon? Edo Launches Real-Time Local Offers Platform, Tied To Your Bank Card For Instant Credits
by Sarah Perez
Tradestreaming
List Of Winners Of Top Fintech Conference, Finovate
by Zack Miller
World News (wn.com)
Instream Solutions Ceo Alex Murguia At Finovatespring 2012

PaySimple Demonstrates its Accounts Receivable System for Small Business

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Later this morning, PaySimple showed how its cloud-based management solution can help small businesses:

“PaySimple provides a cloud-based accounts receivable management solution for small business. With PaySimple, businesses can accept credit card and ACH payments and automate billing across channels including recurring billing, electronic invoicing, and web, mail, phone, and mobile payments. This is integrated with customer management and smart reporting to help small businesses not only save time and get paid faster, but also grow their business.

Additionally, PaySimple is available as a turn-key, custom-branded solution for large institutions looking to provide their members with a value-added offering. Partners with custom-branded products in market today include American Express, Chase, Western Union, and Vantiv.”

Product Launched: May 2012
HQ Location: Denver, CO
Company Founded: January 2006
Metrics: PaySimple has raised $28.5 million in capital through three rounds. In its most recent round in September 2011, PaySimple received $16 million of growth capital from Susquehanna Growth Equity. Approximately 10,000 small businesses use PaySimple to save time and get paid faster. Recent results reported by customers say that 85% of them save time, 55% get paid faster, 91% started with ease, and 96% love our support. PaySimple currently has 70 employees.
Website: paysimple.com
Introducing Eric Remer (Founder and CEO) and Jenae Wiegert (VP, Product & Marketing)

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FinovateSpring 2012 Sneak Peek: Part 2

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Here’s part 2 of the sneak peek of the companies that will demoing at FinovateSpring May 8 and 9 in San Francisco. Each company provided a short summary of the innovation they will debut on stage. We published 23 last week and we will complete the preview next week.
Don’t miss the opportunity to experience the hottest innovations in financial technology. Get your FinovateSpring ticket here.
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InvestorBee puts data at consumers’ fingertips so they can make smart, confident investments.
  • It’s fact, not opinion. Users can tap into the database to learn from the experiences of nearly 1.5 million investors.
  • It’s an investment health check. Users can compare their portfolios and multi-asset products with fact-based, relevant benchmarks to understand whether they receive fair value.
  • It’s simple investing without guesswork. Users can choose an objective risk-based strategy to track that’s right for them in a few easy steps.
Users extract wisdom from the crowd to make better, simpler investment decisions – all for free at InvestorBee.
Innovation type: Investing, marketing, PFM

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iQuantifi takes you way beyond budgeting! It helps you reach all your financial goals and tells you exactly how you can do it. No estimates. No calculators. Just solid advice and the power to do it all online.
Innovation type: Banking products, investing, PFM
Historically, investing in securities has been 
a difficult proposition for retail investors, 

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mainly due to the lack of access to competitive products and the absence of user-friendly financial education tools.
This problem is exacerbated in emerging markets, where financial markets tend to be less developed.
Kuspit offers retail investors an online platform to learn about investing, apply what they’ve learned, and invest in the same platform. All of this is available in an easy and progressive manner, while sharing ideas with the community.
Innovation type: Investing, online, PFM

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The current infrastructure to deliver capital to Main Street businesses is broken. It’s simply too expensive for banks to manually analyze and underwrite a small loan – whether it is $10,000 or $100,000. As a result, banks make fewer loans, and creditworthy small businesses are denied the capital they need to grow. 
On Deck has created an efficient, effective and proven solution to this fundamental problem. By leveraging new digital sources of data, any institution can increase its small business lending through the On Deck platform, delivering funding decisions in minutes rather than weeks.
Innovation type: Lending, payments, small business

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PaySimple is launching an innovative platform for banks to set up their own private-labeled version of cloud-based receivables automation. With this platform, banks of all sizes can easily bring to market a sticky value-added offering to attract and retain small business members, while adding a new revenue stream. 
PaySimple will demonstrate how banks can set up custom-branded software in a few simple steps and how small businesses can immediately benefit from a system that combines payment acceptance across channels integrated with customer management.
Innovation type: Online, payments, small business

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Portfolio Football is a first-of-a-kind application that addresses the need for financial planning and literacy through gamification. Portfolio Football plays on the popularity of American Football and the adoption of fantasy sports into the lives millions. It makes financial management competitive, fun and easy to understand, while providing users with a powerful tool for personal finance and portfolio management. It’s a true “game changer.”
Innovation type: Investing, Online, PFM

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With 80% of Americans between the ages 20-40 now using social media and playing social games, how can financial institutions reach their customers in new ways?
Introducing SaveUp – an innovative program that uses game mechanics to reward good financial behavior. When users save money and reduce debt, they earn credits to play for prizes like cars, travel, and cash up to $2 million.
Financial institutions can use a customized SaveUp experience to help their customers make better financial decisions, increase engagement, and cross-sell products. Current FI partner campaigns have conversion rates of up to 44%.
Build a deeper relationship with your customers while helping them succeed.
Innovation type: Marketing, rewards

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SoMoLend makes investing in your online community simple, affordable, and social. SoMo is an online platform that uses patent-pending lending technology executed within a hyper-localized geographic scope to connect small business borrowers with individual and organizational investors.  
SoMo’s user-friendly technology allows business borrowers to raise capital from friends and family, customers and community supporters as well as from Facebook, Twitter and LinkedIn connections. Investors lend money directly to borrowers through the SoMo platform, which then packages the loans and sells them as notes, bypassing banks and credit-card issuers.
Innovation type: Investing, lending, small business

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Thomson Reuters is pleased to introduce their new App Store solution that enables access to the latest innovative capabilities and tools for use across the digital enterprise. Thomson Reuters’ solution makes it easy for financial institutions and third-party developers to create and integrate pioneering market monitoring and investing apps. 
By seamlessly enabling the combination of Thomson Reuters content, firm’s customer account data and firm’s internal and other data sources, Thompson Reuters is helping institutions leverage the providers of financial content. This delivers a differentiated experience for their customers while lowering both development costs and time to market.
Innovation type: Investing, marketing, mobile, online, PFM

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Approximately half of the world’s population are cash-preferred consumers (unbanked, underbanked, teens or privacy-concerned) and have no bank account or limited access to traditional financial services. eCommerce merchants have not had a way, until now, to monetize this segment of consumers simply missing out on the substantial revenues they represent.
ZipZap will unveil the latest innovations in global cash transaction solutions for eCommerce merchants. CashCade ensures no more lost revenue from card-based transactions being declined, while CashPayment enables consumers worldwide to make payments for online purchases at offline locations using cash.
Innovation type: Back office, payments

Finovate Alumni News– March 30, 2012

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgMSN Money UK explains how Zopa represents the future of banking.
  • MintLife blog reviews FutureAdvisor. Come see their live demo at FinovateSpring.
  • Silicon Prairie News covers a SXSW panel discussion where Dwolla discussed growth. See its new tech at FinovateSpring.
  • Forbes interviews PaySimple CEO, Eric Remer, on how he began the startup. Come see PaySimple at FinovateSpring in San Fran.
  • MSN Business on Main interviews Dwolla’s Ben Milne, asks if it’s the next PayPal.
  • Currensee expands into Latin American region with Spanish website.
  • Xero partners with Abukai, helps MYOB users migrate accounting software.
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.