Q2ebanking Secures $20 Million Series C Financing

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Online banking solutions company Q2ebanking recently closed a $20 million Series C financing round.

New investor, Battery Ventures, led the round. Adams Street Partners, which has been involved in each round of Q2ebanking’s funding, also participated.

Q2ebanking states that it will use the new round to invest in continued platform innovation and to expand sales and marketing efforts.

The Austin-based company also released some quick figures:

    • About 400 FIs use its ebanking technology, reaching over 3 million users
    • More than 70 of its clients have assets exceeding $1 billion
    • From 2011 to 2012, its revenue growth expanded from 49% to 51%

To learn more about Q2ebanking, watch its FinovateSpring 2011 demo.

Finovate Alumni News — February 19, 2013

  • Thumbnail image for Finovate-F-Logo.jpgRescuecom highlights TransferWise as low cost, currency conversion option.
  • Acculynk‘s Payzur brings person-to-person payments to consumers on PULSE debit/ATM network.
  • Compass Plus helps Russian-based FI SwitchMaster reach processing benchmark.
  • ekmPowershop announces partnership with EZBOB.
  • American Banker reports: Planwise to Participate in Yodlee’s Incubator Program.
  • BillHighway hires new CFO.
  • Arroweye Solutions reports 40% growth due to 175% uptick in open loop card production, added 27 new clients in 2012.
  • Bill.com to provide Frantopia with accounting services.
  • Prosper unveils new protection for lenders.
  • The Next Web reports: Tradeshift adds support for accounting services Sage and Kashflow, helping businesses get paid.
  • Forbes considers how SoMoLend provides capital to small businesses.
  • VentureBeat reports SecondMarket is partnering with CircleUp to allow investors to invest in up-and-coming consumer product businesses.
  • Thomaston Savings Bank selects Q2ebanking’s full suite of ebanking solutions.
  • HiddenLevers launches portfolio stress testing app to help advisors generate leads.
  • Fiserv awarded Best-in-Class rating in 2012 Anti-Money Laundering Technology Review.
  • Gifting app Wrapp selects Braintree to power payments.
  • Pageonce adds person-to-person payment functionality to mobile app.
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– January 28, 2013

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgSaveUp begins Stamp Card rewards program. Collect 10 stamps and redeem card for reward.
  • Chargebee blog features Braintree as a payment gateway integration optionin the U.K.
  • Firmology reports on new Dwolla features: Send Money to Non-Dwolla Users and Split Payments for Multiple Facilitators.
  • eToro launches YouTube channel for free trading lessons.
  • The M Report features BankersLab’s Banc-it: Scoring Edition app.
  • Dexter Credit Union implements Q2ebanking’s full suite of eBanking solutions.
  • Locaid partners with CAMS to provide solutions for mobile gaming industry.
  • Jingit chooses Direct Source as its preferred systems integration partner.
  • Compare Broker reviews the latest developments in the Zecco/TradeKing merger.
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– November 26, 2012

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgAmerican Banker reports MoneyDesktop aims to make PFM more appealing.
  • Bass Pro Shops and Zappos.com added to Virtual Piggy’s digital distribution channel.
  • The Globe and Mail features SecureKey.
  • The Austin Statesman reports: Workers Praise Q2ebanking’s “Family-Type Environment”.
  • TransCard to use DeviceFidelity’s NFC tech to offer a new white-label mobile wallet. 
  • Kashoo Accounting version 2.0 for iPad now available on iTunes. 
  • Tech in Asia calls TradeHero “probably one of the best startup ideas in Singapore.”  
  • Ian McKenna takes a detailed look at innovations demoed at FinovateAsia.
  • Shamir Karkal, Simple CFO, explains where Simple’s ideas came from and how the project got off the ground.
  • The Banker interviews Bailey Klinger, Co-founder and CEO of EFL.
  • BancBox to set up a development center in Chandigarh, India.
  • Greedful.com features WeSeed: “The Stock Market Game that Pays Off”. 
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.

Alumni Updates from BAI Retail Delivery 2012

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Last week, I attended BAI Retail Delivery in Washington D.C. where over 200 exhibitors lined the trade show floor of the Walter E. Washington Convention Center.

There were 31 Finovate alums on the expo floor, and even more in attendance. My schedule was packed, but I was able to catch up with a handful of Finovate alums.

Here’s what I learned.

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The card-linked offers company is in the middle of a successful mobile deployment effort with BofA, PNC, Regions, and a few other unnamed FIs. After launching their respective rewards programs on mobile, the FIs have seen an increase in user engagement and an increase in the number of online banking visits per user.

It is also working on International expansion. So far the top 3 European card issuers have signed.

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BofA’s BankAmeriDeals on tablet interface


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BofA’s BankAmeriDeals on iPhone mobile app

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The consumer credit reporting agency recently launched its Insight Score for Retail Banking, a solution that will help FIs generate a risk score for underbanked individuals with no credit data or history. It does this by using non-FI-related payment data from companies like Telco and other TV and cable providers.

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The fintech provider showed me its SpotPay payment dongle and back-end solution. It appears to be Fiserv’s response to Square that it will co-brand with FIs. Fiserv is able to on-board FIs with SpotPay in a couple of days, so it is a quick way for FIs to get into the payments game. 
While there is an $8.95 per month fee, it is competitively priced, charging only a 1.99% fee on a swipe, and a 3.19% fee on card-not-present transactions.

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Fiserv’s SpotPay dongle being used on an iPhone

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Because volume and sophistication of fraud has grown, Guardian Analytics started bank-sourcing (think crowdsourcing) fraud by bringing multiple institutions together to collaborate on the types of fraud they’re seeing so the whole industry will be better at fighting it. Tiffany Riley, Guardian Analytics’ VP of marketing tells me they’ve received positive feedback so far.

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Mobile banking solutions company, mFoundry launched its Fin.X platform. This platform can be thought of as a type of app store for FIs to select which products/services they want to include in their mobile app. 
At BAI, mFoundry announced partnerships with Blackhawk Network, Dwolla, and Micronotes 
to white-label their solutions within the Fin.X platform.
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An example of what the Fin.X app platform could look like on a tablet

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The PFM won CUNA Tech Council’s Best of Show Award at BAI. This counts as its 5th Best of Show award.
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MoneyDesktop team with BAI President & CEO, Deborah Bianucci

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After the mobile money solutions company acquired Clairmail 3 months ago, Monitise now has 17 million active users. It is in trials of an NFC solution with a few banks. The solution uses a sticker as opposed to a chip inside of the actual device.

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The electronic banking solutions provider launched Q2clarity, a tablet-optimized dashboard that provides customizable analytics and visibility to how customers are using an FI’s mobile and online platform. Providing these metrics to a branch manager, gives them the ability to make more informed decisions about which products and services to offer.
These eight companies are just a fraction of what I saw at BAI this year. For more information on who attended the trade show, visit here.

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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 4, 2012

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgFenergo launches new online FATCA Self-Certification Tool for W-8 and W-9 form collection.
  • ABABanking Journal profiles Guardian Analytics.
  • Geezeo signs Commonwealth and General.
  • Bank of China (Hong Kong) and Monitise form partnership.
  • Visible Banking interviews Matthias Kroener, Fidor Founder and CEO.
  • Social Lending Network reports: Lending Club cracks $70 mil, Prosper has a down month.
  • North Bay Business Journal lists mFoundry and Monitise as fast growing tech companies in 2012.
  • American Banker reports Pacific Continental switches to Q2ebanking as business app provider.
  • Tykoon and LearnVest host contest to help families get money smart.
  • Leadfusion extends aid to financial institutions struggling to respond to the latest serious Java security threat.
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– August 20, 2012

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgSoMoLend launches small business competition.
  • The Next Web features Raphael Ouzan, BillGuard founder and CTO.
  • The Washington Post looks at HelloWallet’s move to D.C.
  • TBA Services Company renews endorsement of Q2ebanking’s services.
  • Credit Union Journal reports Franklin Mint FCU Adds Geezeo.
  • Braintree acquires Venmo for $26 mil, ranked 415 on Inc 500 list.
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– July 10, 2012

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgBinary Now begins accepting PayNearMe payments from customers without credit card.
  • Mootwin drives BNP Paribas Group’s new iPad economic news app.
  • Mitek hires former Green Dot CTO, Michael Strange, as CTO.
  • Fiserv appoints Dennis Lynch to Board of Directors.
  • Diversinet appoints Bret Jorgensen as Chairman of the Board.
  • Tradestreaming names Wall Street Survivor app of the week.
  • Cachet Financial launches Merchant RDC Tablet Solution.
  • Lending Club wins AlwaysOn Global 250 Award for third consecutive year.
  • Wiltshire business looks at positive returns from Zopa.
  • Q2ebanking opens office in Atlanta to support growth.
  • 2 Minute Finance gets a demo from Portfolio Football.
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 22, 2012

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgPersonal Capital updates privacy and security policy.
  • Geezeo signs Westmoreland Community Federal Credit Union.
  • Bobber Interactive adds Scott Rigby, Ph.D, Founder of Immersyve Inc., to its executive team.
  • Mortgagebot launches consumer loan product to automate mortgage & consumer loan origination.
  • Pawtucket Credit Union selects Q2ebanking for ebanking services.
  • Virtual Piggy appoints best-selling author, Stedman Graham, to its board of advisors.
  • MyBankTracker comments on Money Desktop’s integration of Deals into a PFM.
  • Mobile Payments Today looks at the CSI globalVCard.
  • Business2Community looks at Linkable Networks’ technology.
  • Crain’s Chicago Business covers Kabbage’s Social Klimbing.
  • Acculynk announces a UX upgrade to their graphical PIN pad.
  • Luup powers National Bank of Abu Dhabi’s real-time international account-to-account money transfer service via mobile.
  • Figlo wins Best Demo award.
  • SoMoLend wins Startup 2012 business pitch competition.
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.