Finovate Alumni News

On Finovate.com

  • Finovate Debuts: How the Kore Bots Deliver More than Your Average Chatbot
  • DriveWealth Expands APIs for Wealth Managers
  • Braintree, Finicity, and Twilio Take Top Honors at API World Awards

Around the web

  • BankBazaar wins “Emerging Brand of the Year” and “CEO of the Year” at seventh CMO Asia Awards.
  • Fintech News Switzerland highlights Currency Cloud and Zopa in a look at London’s top rising fintech stars.
  • Boku brings direct carrier billing to Windows 10 phones in the United Kingdom and Italy.
  • Markit enhances WSO software suite to offer new levels of automation for syndicated loan 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.

 

Finovate Alumni News

Around the web

  • Fortune.com recognizes Shoeboxed among its five startup companies to watch in Durham, North Carolina.
  • Business Builders interviews Harper Reed, head of commerce at Braintree.
  • Kurtosys features Personal Capital, Wealthfront, LearnVest, and Betterment in a look at the future of roboadvisers.
  • Kasasa (formerly BancVue) launches Retail Portfolio Optimization solution with enhanced, data-driven account analysis.
  • New York Times column on apps that help you save highlights Qapital.

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

  • “Uber, Green Dot Partner to Help Drivers Get Paid Promptly”

On FinDEVr.com

  • “Symbiont and Ipreo Team Up to Accelerate the Loan Settlement Process”

Around the web

  • Western Independent Bankers (WIB) picks Bizfi as its exclusive premier alternative finance solution provider.
  • Coinbase adds stop orders to its Coinbase Exchange platform.
  • Markit unveils new tax utility service.
  • Eris Industries chooses Ledger as its blockchain hardware security partner.
  • Medium.com features Klarna and Qapital in a look at building a startup “the Swedish way.”
  • SuiteBox listed among fintechs that are developing tools to help superannuation funds.
  • Envestnet wins the 2016 Technology Innovation Award from the Bank Insurance and Securities Association (BISA).
  • Pakistan’s Soneri Bank selects T24 core banking system from Temenos.

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

  • Dream Payments Unveils Mobile Merchant Platform for Banks and Acquirers.
  • Blackhawk Network Names Talbott Roche New CEO.
  • Coinbase and Motif Investing Earn Spots on Fast Company’s Most Innovative Companies of 2016 List.

Around the web

  • Fiserv named to Fortune magazine’s list of the World’s Most Admired Companies in 2016.
  • Pindrop launches its comprehensive call center fraud-prevention platform, IVR Anti-Fraud.
  • Sussex County FCU picks Insuritas to deploy new insurance agency solution.
  • iSignthispaydentity KYC service is suitable for use by businesses in the regulated sector of the Isle of Man, a global financial hub.
  • Inc. profiles Sweden’s Klarna and its plans for U.S. expansion.
  • Co-founded by former Check CMO Daniel Kjellen, MovoCash announces $700,000 seed investment.
  • Ingo Money partners with PayPal, adds instant check-splitting.
  • Roostify to integrate with zipLogix to facilitate communication between lenders and realtors.
  • American Banker features SecondMarket.
  • Bluefin Payment Systems and Worldnet partner for PCI-validated P2PE on Worldnet’s payment platform.
  • Cachet appoints new Chief Financial Officer Bryan Meier.

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

Around the web

  • Alpha Payments Cloud teams up with Paysera to expand payment options for its customers.
  • Qapital launches solution to help freelancers set aside money for annual or quarterly taxes.
  • Telegraph looks at P2P lender Zopa, and its plans for growth in 2016.
  • Insuritas to provide its full-service insurance agency solution for Heartland Financial USA.

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

  • “What’s Trending at FinovateFall?”

Around the web

  • PayPal’s new PayPal.me gives users a customized URL to request money.
  • BigRentz and Kabbage partner to offer equipment-rental financing.
  • Forbes: “PayPal’s Small Business Lending ‘Accelerating‘ On The Way To $1 Billion”
  • EVO Payments purchases Citigroup’s merchant-acquiring business in Mexico.
  • ThetaRay launches its new credit-risk model for online lenders. See ThetaRay at FinovateFall 2015 in September.
  • Boku sells its pay-by-call business to DaoPay.
  • YA partners with InComm to enhance client program delivery.
  • Expensify now enables users to import Items from QuickBooks Online and use them in place of categories for expenses on policies.
  • Kony opens new company headquarters in Austin, Texas.
  • Adobe’s mobile marketing platform is combining Adobe Analytics and Adobe Target, to help app developers and marketers better understand, attract, and retain users. Come see Adobe’s live demo at FinovateFall.
  • itBit adds former NYDFS general counsel Danny Alter as chief compliance officer and general counsel.
  • First Internet Bank unveils Eyeprint ID authentication from EyeVerify for its mobile banking 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

On Finovate.com

  • “Socure Secures $2.5 Million in Debt Financing”
  • “Five Finovate Alums Named 2015 Technology Pioneers by World Economic Forum”

Around the web

  • Let’s Talk Payments interviews Stephane Dubois, Xignite CEO and founder. See Xignite at FinDEVr 2015 in San Francisco in October.
  • Flint Mobile upgrades its iOS mobile app to improve compatibility with Apple Wallet.
  • Cloud OS Corezoid is now available via the Amazon Marketplace (in Russian).
  • Forbes notes MaxMyInterest, Dragon Wealth, and EverSafe in a feature on the global growth of fintech accelerators.
  • Market Visual integrates with the Tradier API to enable investors to manage stock portfolios and trade on a single platform.
  • Q2 Holdings acquires Centrix Solutions for $20 million.
  • Ayasdi named a 2015 Technology Pioneer by World Economic Forum.
  • Delaware Business Times profiles Global Debt Registry.
  • RateFuel asks if Qapital represents the “future of banking.”
  • PayNearMe partners with The California Department of Child Support Services to offer a new payment option for cash-paying customers.
  • FutureAdvisor launches FutureGift to help friends and family easily contribute to kids’ college funds.

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

  • “Behalf Closes $119 Million Series D”
  • “Neon Release Adds Touch ID and Enhanced Notifications to Oink 2.0″
  • “ShopKeep Rings Up $60 Million Investment”

Around the web

  • Citibank India and MasterCard launch digital wallet, Citi MasterPass, in India.
  • This is Money features TransferWise in a look at the lack of transparency in exchange fees.
  • LoanNow earns #4 spot in Orange County Business Journal’s “Best Places to Work in Orange County 2015” roster.
  • PYMNTS looks at how PayPal’s Paydiant is powering Subway’s mobile-payments app.
  • Payments Views talks with Doug Yeager, HCE inventor and CEO of SimplyTapp, in its latest podcast.
  • Expensify launches New Investment Fund, Expensify Ventures, for fintech startups.
  • American Banker considers how banks are using startups such as Social Money and Qapital to bolster their offerings.
  • Dashlane launches One-Tap Password Changer for Apple Watch and iPhone.
  • John Hancock Retirement Plan Services now offers Morningstar’s HelloWallet financial wellness tool to plan-sponsors on its Total Retirement Solution platform.
  • Arroweye Solutions to provide EMV Credit and Debit Cards for Mountain America Credit Union.
  • TechCrunch: Betterment tops 100,000 customers and $2.5 billion AUM.
  • Taulia reports record revenue and ten customer wins for Q2 2015.
  • Mobile Payments Today looks at InComm’s drive to bring open-loop prepaid to mobile wallets.

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

  • Currency Cloud Cooks Up $18 Million in New Funding Round
  • FutureAdvisor Grows 10x to $600+ Million Under Management
  • Xignite Inside: Market Data Provider Powers Apple Watch Apps for Finovate Alums
  • Prairie Cloudware Announces New Round of Investment

Around the web:

  • Insuritas to power insurance-agency solution to First Federal Savings Bank of Wyoming.
  • American Banker mentions how Qapital and Moven recently updated their software to make saving easier.
  • Digital Transactions recognizes Payzur from Acculynk as a P2P payments leader.
  • Misys wins Best Trade Finance Tech Solutions Company at the Trade Finance Awards for Excellence.
  • Fortune profiles Blooom President Greg Smith, former Goldman Sachs banker.
  • Personal Capital CEO Bill Harris, former PayPal CEO, discusses how PayPal fits into mobile payments.
  • InComm partners with U.K.-based Sainsbury’s to help consumers save on the cost of fuel at Sainsbury’s petrol stations after buying gift cards.
  • Jo Ann Barefoot podcast interviews Lending Club founder and CEO, Renaud Laplanche.

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.

Social Money Teams Up with Sallie Mae to Provide Goal-based Savings Accounts

SocialMoney_homepage_June2015

Having established itself as a goal-saving solution for millennials with its SmartyPig solution, Social Money is now gearing up for the next generation with its new partnership with educational lender, Sallie Mae.

Sallie Mae will use Social Money’s CorePro technology to build savings accounts for educational expenses such as tuition and books. The accounts are part of Sallie Mae’s Upromise program and will be rolled out this summer.

The partnership “validates a lot of trends” said Social Money co-founder Jon Gaskell in a telephone conversation after the deal was announced. First, it demonstrates the value of its new technology organizations can use to make goal-based savings accounts easy to set up, administer and, importantly, be cost-effective.

SocialMoney_FS2012_stage

(Left to right): Social Money co-founders Scott McCormack, president, and Mike Ferrari demonstrated their GoalSetter solution at FinovateSpring 2012 in San Francisco.

Second, Social Money’s relationship with Sallie Mae shows banks there may be more value in their “low-balance” clientele than they think. “Sallie Mae would have to pay a lot of money to bank these accounts,” Gaskell said. “CorePro makes it easy to provide an account to customers and not affect the business model.”

Social Money co-founder and President Scott McCormack agreed. A banker by trade, McCormack spoke about the challenges of serving low-balance segments such as students and the underbanked. Often the only way to offset the costs is through higher fees, he said, which is not what low balance segments want or will pay for.

“CorePro eliminates that issue,” McCormack said. “We provide a core processing solution to the bank at a cost-effective entry point so (the bank) can provide a value-added user experience.”

CorePro-main+image

“We help (banks) profitably bank customers they can’t reach,” said Gaskell. “Many of them don’t have the best feelings about banks, or about needing them. We provide a bridge to the next generation of bank customer.”

The Upromise program from Sallie Mae helps students and their families save money for education expenses via a rewards program that provides cash back for school when shopping with any one of Upromise’s more than 850 retail partners. Upromise also provides a MasterCard credit card with a cash-back-for-college plan, and a high-yielding savings account. Even though Upromise has been in operation for 13 years, Sallie Mae’s Charles Rocha, executive vice president, welcomes the new relationship with Social Money.

“We are consistently looking for new ways to enhance our customer experience and provide products and services to help our customers effectively save, plan, and responsibly pay for college,” Rocha said. “Social Money’s platform will provide a simple, straightforward, and consumer-friendly system for our new college savings account.”

Headquartered in Des Moines, Iowa, Social Money was founded in 2008 as SmartyPig, and rebranded as Social Money ahead of its appearance at FinvoateSpring 2012. CorePro was officially launched in 2013. The technology has been deployed by FIs like The Bancorp and Lincoln Savings Bank, as well as payment processors such as The Members Group. Qapital, another Finovate alum, has leveraged Social Money’s savings account and core processing power to build its own PFM app.

Finovate Alumni News

On Finovate.com

  • “PayPal’s Braintree Tapped to Turn Pinterest Browsers into Consumers”
  • “EyeVerify’s Partnership with Turkish Reseller Yields Vodafone Contract”
  • “U.K.-based TransferWise: Growth and Metrics Updates

Around the web

  • TradeHero updates mobile iOS app.
  • WSJ features how Venmo helps users instantly move money more cheaply.
  • Apple lists Xero among group of business apps Apple is using to market the iPad for use in business.
  • Indianapolis Business Journal looks at the rise of robo-advisors Betterment, Wealthfront, Hedgeable, and Motif Investing.
  • TSYS launches its Chip Card on Demand to help issuers make the transition through the October chip-liability shift.
  • Top Image Systems unveils its new mobile account opening and onboarding app, MobiENROLL.
  • Benzinga interviews Igor Gonta, CEO of Market Prophit, on the launch of his Twitter-based, social media, smart beta index.
  • Fox Business features Planwise, LendUp, Trulioo, Plaid, Wealthfront, TrueAccord, WePay, Flint, Lending Club, Prosper, LendingRobot, and FutureAdvisor in its roundup of “30 Hot Fintech Startups to Watch.”
  • New York Business Journal reviews its gamification strategy of PFM solution, Qapital.
  • Financial Times profiles LendUp and the “grubby end of U.S. debt.”

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

  • Xero & TransferWise Team Up to Save SMBs on Foreign Currency Exchange Fees

Around the Web

  • Bloomberg interviews LendingTree founder and CEO Doug Lebda.
  • Nashville Business Journal features iQuantifi and its recent study on millennials and their money.
  • Safeco grants Insuritas “Premier Partner” status.
  • Fenergo appoints former Adobe Systems executive Colm Heffernan to chief operating officer.
  • Mitek launches DoubleNet Pay financial app to help workers pay bills and fund savings. See the technology live at FinovateSpring in San Jose.
  • PYMNTS.com looks at the status of Prosper as tech’s latest “unicorn.”
  • Realty Mogul launches commercial offering.
  • BBVA acquires leading user experience firm Spring Studio.
  • Toshl Finance launches new features with WalletGear 2.0.
  • New York Tech Journal profiles Qapital.
  • InComm Partners with KUBRA to Simplify Cash Payments for Customers.
  • Tuition.io launches flex395.com, an employee-benefits product that enables employers to contribute directly to their employees’ student loans.
  • Air France-KLM to use Tradeshift for global e-invoicing.

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.