Phony Invoices

PhonyInvoices Provides Scalable, Robust Technology to Curb Invoice Fraud

By David Penn Posted on
Categories: FinovateFall 2013, Phony Invoices

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This post is part of our live coverage of FinovateFall 2013.

PhonyInvoices is making its way to the Finovate stage now. The company’s solution helps combat phony invoice schemes that cost businesses millions every year.

“PhonyVendorCheck is a data driven SaaS solution that is much more scalable, robust and comprehensive in its ability to curb invoice fraud.
Implementation of our two current products has led to the development of PhonyVendorCheck, a data-driven SaaS solution that is much more scalable, robust, and comprehensive in its ability to curb invoice fraud. We are rolling out this new product right here at FinovateFall 2013:
  • phonyvendorcheck.com – a website for customers to upload their vendor list for immediate verification
  • Financial Software ‘Plug-Ins’ – Quickbooks App for automated vendor check. More accounting software add-ons to follow
  • Payment Processors – through a customized API, financial institutions can access our database to provide their customers a real time safeguard from paying invoice scams
  • Data Companies – API allows other companies to leverage our data”
Product Launch: September 2013
Metrics: Personally funded by Barnett Helzberg & 5 employees
Product distribution strategy: Direct to Business (B2B), through financial institutions, through other fintech companies and platforms, & licensed
HQ: Kansas City, Missouri
Founded: January 2012
Twitter: @PhonyInvoices
Presenting David Cacioppo (Founder) and Jonathan Lee (VP Business Development)
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The full demo video will be available at Finovate.com in mid-September.

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FinovateFall 2013 Sneak Peek: Part 4

By David Penn Posted on
Categories: Akimbo Financial, BizEquity, FinovateFall 2013, Motif Investing, Phony Invoices, RevolutionCredit, SaaS Markets, Unleash, Zighra

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There’s no better way to get to know the companies that will be on stage at FinovateFall 2013 than our Sneak Peek series. If you’ve missed an edition or two, click on the links beow to read earlier installments of our preview.

This year, FinovateFall will take place on September 10 and 11, at the Manhattan Center in New York. Find out more about the event here.

Today’s installment introduces our fourth set of fintech presenters: Akimbo Financial, BizEquity, Motif Investing, Phony Invoices, RevolutionCredit,  SaaS Markets, Unleash, and Zighra.

Want to join us in New York in September? Get your ticket to FinovateFall 2013 here.
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Akimbo Financial provides turnkey, white-label, prepaid card programs and develops custom web and mobile solutions for banks, credit unions, and other businesses.
Features:
  • Create sub-cards with any name
  • Link bank accounts and set up automatic allowances
  • Deliver money to a card with immediate access to funds
Why it’s great: Akimbo is reinventing allowance with a card that delivers money anytime, anywhere. It’s great for teens, students, staff, or anyone.

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Houston Frost, Co-Founder, CEO, Akimbo Financial
Mr. Frost previously worked at J.P. Morgan in fixed income strategy. He holds a PhD from Northwestern University.

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Thomas Turner, Co-Founder, Chairman, Akimbo Financial
Mr. Turner previously worked at Wachovia Securities in M&A and is currently the CEO of Turner Holdings, LLC.
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Biz Equity is the first and leading patented cloud-based online business valuation service. BizEquity is democratizing and putting online a $2.8 billion dollar industry.
Features:
  • Dynamic search of 15,000 industries
  • Real-time business valuation scoreboard
  • Online dashboard to monitor and manage your value with a 17-page report
Why it’s great: BizEquity’s patented service answers the most important question facing the business owner and their advisor online and in real-time.

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Michael M. Carter, CEO and Founder, BizEquity
Mr. Carter is MD of The Musser Group, and Managing Partner, Entrepreneurs Management Group
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Motif Investing is a new kind of online broker introducing the first-of-its-kind crowdsourcing of a financial product that uses Motif’s innovative social technology.
Features:
  • Build Your Own Motif – a collection of up to 30 securities trading real-time for only $9.95.
  • Feature it in Motif’s Community Catalog
Why it’s great: Stop Picking Stocks, Start Picking Ideas and build your own mofit of up to 30 stocks for $9.95

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Hardeep Walia, Co-Founder, CEO, Motif Investing
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Phony Invoices is launching “Phony Vendor Check” at FinovateFall 2013. It’s the fastest and most robust software toolkit available to root out invoice scams.
Features:
  • The most comprehensive database of invoice scams
  • Real-time access through secure website or customized API
  • Automatic updates
Why it’s great: Scammers make millions off of these
phony invoice scams every year. Protect your money. Stop invoice fraud.
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RevolutionCredit’s engagement platform and database of unique consumer behavioral economic data are a quantum shift in the credit decisioning process for both lenders and consumers.
Features:
  • Transforms credit decisioning
  • Helps creditors identify upwardly mobile customers
  • Offers just-in-time consumer financial capability development
Why it’s great: The launch of RevolutionCredit’s engagement platform will transform the credit decisioning process for creditors and consumers for good.

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Zaydoon Munir, Founder, CEO, RevolutionCredit
Mr, Munir is an 18-year veteran of the financial services industry.
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SaaS Markets designs and delivers app stores for the Software-as-a-Service (SaaS) market. Its MarketMaker platform allows companies to deploy a business app store for its customers or employees.
Features:
With a MarketMaker app store powered by SaaS Markets, you can:
  • Win new customers
  • Generate additional revenue and reduce churn
  • Gain new insights
Why it’s great: MarketMaker Enterprise is the enterprise app store for your employees or customers.

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Ferdi Roberts, CEO and Founder, SaaS Markets
Mr. Roberts is a former senior executive at Yahoo, Cisco, and Ariba, and was educated at Imperial College, London.
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Unleash is a cloud CFO that helps small business owners make better decisions faster.
Features: 
  • Eliminates hours spent analyzing data
  • Compares your business to the competition
  • Shows you what you’re doing well and what to fix
Why it’s great: Cloud CFO – Simplifying business intelligence and making it super easy to use.
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Zighra’s KineticID accelerates transactions by using human kinetics to make mobile authentication implicit, frictionless, and much more secure.
Features:
  • Accurate, effortless, and instantaneous multi-factor user recognition
  • Securely avoids vulnerable PINs/passwords and other biometrics
Why it’s great: KineticID provides FIs, mobile banking and payment platforms with increased customer convenience while reducing fraud cost and risk.

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Deepak Dutt, CEO, CTO, Zighra
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Learn more about the companies and entrepreneurs who will be presenting at FinovateFall 2013 in New York in our next Sneak Peek preview, coming on Tuesday.
Want to join us in New York this September? Get your ticket to FinovateFall 2013 here. And to learn more about the event, visit our FAQ here.

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Finovate Alumni News– August 21, 2013

By David Penn Posted on
Categories: Arroweye Solutions, Cardlytics, FinovateFall 2013, Fiserv, Manilla, MasterCard, Phony Invoices, SecureKey
  • FinovateLOGO.jpgWhat Themes Will Heat Up the FinovateFall Stage?
  • Cardlytics announces patent on offer placement and management systems.
  • MasterPass gains traction as 16 payment service providers in Australia agree to provide MasterCard’s digital payment option for business customers.
  • Arroweye Solutions launches CustomerConnect, a data-driven, card marketing technology solution.
  • Jonathan Lee of Phony Invoices talks about invoice fraud at Accounting Today. See them demo at FinovateFall in September.
  • SecureKey Technologies wins contract with USPS to develop Federal Cloud Credential Exchange (FCCX).
  • Fiserv renews technology relationship with Community First Credit Union in Wisconsin.
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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Meet the Innovators of FinovateFall 2013

By David Penn Posted on
Categories: Akimbo Financial, authenticID, Backbase, BehavioSec, BillFloat, Biometric Signature ID, BizEquity, Capital Access Network, Cardlytics, CommunityLend, CoverHound, CR2, DoubleBeam, Financial Guard, Finect, Fiserv, FlexScore, Float Money, GMC Software Technology, Guide Financial, Ignite Sales, Innovation Agency, Instabank, Interactions, Jumio, Kofax, LearnVest, Level, Lighter Capital, Lumesis, Luminous, Manilla, MasterCard, mBank, MiiCard, Mitek, MoneyDesktop, Motif Investing, Narrative Science, Numbrs, P2P Cash, PayWith, Pendo Systems, Phony Invoices, Place2Give, QuarterSpot, RevolutionCredit, SaaS Markets, Saved Plus, Simple Verity, Socure, SpearFysh, Spreedlly, StockSmart, StrategyCorps, Tinkoff Credit Systems, TipRanks, Toopher, Unleash, VerifyValid, Versafe, WordSentry, Yodlee, Yseop, Zenmonics, Zighra, Zooz

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FinovateFall 2013 is right around the corner. That means it’s time to start getting to know the entrepreneurs and innovators that will be presenting their technologies on stage in New York City in September.

Remember, the early bird deadline is this Friday, August 2nd. So to reserve your spot and register now.

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Akimbo Financial offers a social bank account alternative that makes sharing money easier than ever.
authenticID‘s identity tools pictureID and catfishID, are the most accurate, time-saving solutions for the forms of ID we already carry.
Backbase‘s Launchpad, the Commercial Banking Edition, making CFO’s work easier.
BehavioSec uses behavioral analytics to transparently tackle web and mobile security.
BillFloat revolutionizes credit delivery to consumers and businesses.
Biometric Signature ID has a patented software-only biometric for secure ID online verification.
BizEquity is the first and leading cloud-based business valuation engine, an innovative solution to small business lead generation.
Capital Access Network is the largest and most experienced small business finance specialist.
Cardlytics uses consumer purchase data to drive a patented advertising platform. Ads are so relevant–they’re expected. 
CoverHound is a comparison insurance adviser, helping people discover, buy, and manage insurance online.
CR2 is the innovative provider of self-service banking solutions including ATM, Internet, and mobile banking.
DoubleBeam‘s SDK powers mPayments inside other mobile apps, helping signup customers quickly and save a ton on the cost of payments.
FinanceIt offers businesses the ability to provide consumer financing to their customers at the POS.
Financial Guard helps you protect your investments, providing online investment advice at the right price, finally.
Finect is the leading online network for the financial services industry.
Fiserv is a leading global technology provider serving the financial services industry, driving innovation in payments.
FlexScore “gamifies” financial planning, gives a “score” of your financial fitness, and provides education, advice, peer comparisons.
Float Money offers interest-free credit to members of its shopping club and financial health partners.
FutureAdvisor manages your investments for better returns, making quality financial advice available to everyone.
GMC Software Technology is a leading software developer of solutions that transform the customer experience.
Guide Financial is like a healthcheck for your finances – automatically scanning your accounts for ways you can earn or save more, and providing simple, easy fixes.
Ignite Sales is the leader in retail banking, customer acquisition, and retention technology.
Innovation Agency, where you can execute on your innovation mandate and unlock the wealth of ideas in your ecosystems.
Instabank – Beautiful money.
Interactions provides natural language Virtual Assistant application services for the automation customer care processes.
Jumio is a next generation credentials management company offering payments and ID scanning and validation products for mobile and web transactions.
Kofax is a leading provider of smart process applications that simplify the business critical First Mile of information-intensive customer interactions.
LearnVest empowers people everywhere to take control of their money and live their richest lives.
Level Money is a financial GPS, designed to replace budgeting.
Lighter Capital provides growth capital to technology companies in a highly-automated basis – Capital-as-a-Service.
Lumesis provides software for the fixed income municipal market. Compliance and credit-focused. 
Luminous is a boutique innovation company that has become synonymous with innovative banking around the world.
Manilla is the leading free and secure service to simplify and organize daily financial life.
MasterCard is a technology company in the global payments industry, operating the world’s fastest payments processing network.
mBank is the biggest, pure-play online bank and the third largest retail bank in Poland.
miiCard is the first digital identity verification service to prove ‘you are who you say you are’ entirely online.
Mitek is positioned as the leading innovator in mobile imaging software. 
MoneyDesktop empowers financial institutions to provide online/mobile banking experiences to promote personal financial intelligence.
Motif Investing is a thematic, customizable, low-cost and crowdsourceable ETF-like product that is disrupting investing economics.

Narrative Science enables companies to uncover the insight hidden in their data and create new content at a scale and frequency never before possible.
Numbrs – One App – Every Bank.
P2P Cash is the mobile wallet with switch technology that allows us to aggregate all other mWallets and mobile financial services.
PayWith is powered by MasterCard. Funded by Merchants. Loved by Consumers.
PhonyInvoices provides invoice fraud detection and prevention. We check a company’s vendor lists and transactions for suspicious activity.
Place2Give provides valuable and trustworthy information to make the most impactful social capital investment decisions.
QuarterSpot lending platform delivers the lowest cost and most favorable term small business loans.
RevolutionCredit is a revolutionary solution that transforms the credit decisioning process for both creditors and consumers.
SaaS Markets is the enterprise app store company for financial organizations looking to leverage cloud-based applications for their employees or customers.
SavedPlus is an automatic savings program that helps customers save money with every purchase.
Simple Verity provides business credit reports on any SMB in America.
Socure offers a social identity verification solution to combat the growing risk of online identity fraud for financial institutions.
SpearFysh leverages mobile, speech analytics, big data, and SaaS technology to improve sales processes and drive growth.
Spreedly provides vault cards in the cloud and work with more than 50 payment gateways.
StockSmart apps and platform offer insight and information on the world’s best companies and people.
StrategyCorps delivers local/mobile/social consumer checking solutions so appealing and relevant, your customers will gladly pay for them.
Tinkoff Credit Systems is Russia’s leading provider of online financial services.
TipRanks is a cloud-based service that measures the performance of anyone giving investment advice.
Toopher eliminates online fraud using your phone’s location. Simple, secure, your phone stays in your pocket.
Unleash is the cloud CFO that helps small businesses make better decisions faster.
VerifyValid and Deluxe are giving checks their first major upgrade in more than 200 years.
Versafe protects all users from all malware, threat types. On all devices, all transparently. 
WordSentry software analyzes messages during composition, identifying non-compliant components, for correction before sending.
Yodlee is the platform for financial innovation, powering the world’s largest collection of transactional data.
Yseop creates a new age where financial services delivered to customers are driven by AI and human collaboration.
Zenmonics is a global technology services and mobile product provider to the financial services market.
Zighra empowers banks and financial institutions to leverage implicit mobile user authentication and accelerate payments.
Zooz provides complete payment essentials at your fingertips: a robust set of tools that will improve the payment process.
Plus more stealth companies to be announced in the weeks to come.
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To find out more about the upcoming FinovateFall 2013 event in New York, September 10 and 11, visit our FinovateFall information page here.

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