Ripple

Finovate Alumni News– May 21, 2014

By David Penn Posted on
Categories: Cortera, Credit Sesame, Expensify, Fiserv, FutureAdvisor, Heckyl Technologies, InComm, Ripple, Wallaby Financial

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  • Expensify’s new mobile release now lets you use the Wingman feature on your phone.
  • InComm launches mobile platform for mobile wallet providers and merchants.
  • Heckyl opens for business in London.
  • Cortera launches new receivables management tool, Cortera Open Receivables.
  • Pymnts.com interviews Chris Larsen on how Ripple Labs simplifies B2B payments.
  • Wallaby Financial teams up with CreditCards.com to launch WalletUp.
  • FutureAdvisor raises more than $15 million; seeks to grow team.
  • Fiserv to participate in University of Connecticut Business School’s Financial Accelerator Program.
  • Credit Sesame earns spot on the 2014 Red Herring Top 100 Most Promising Companies list for North America.
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– May 6, 2014

By Julie Muhn (@julieschicktanz) Posted on
Categories: BancBox, Banno, Fiserv, Holvi, Insuritas, Jack Henry, Leaf, Lending Club, LendUp, MiiCard, Ripple
  • Finovate-F-Logo.jpgCU Alliance hires Insuritas to build non-cyclical fee income for credit union members.
  • Wade Arnold wins CEO of the Year award from Technology Association of Iowa, weeks after selling Banno to Jack Henry & Associates.
  • Holvi moves HQ to downtown Helsinki.
  • Fidor AG is first bank to deploy Ripple protocol.
  • Lending Club announces partnership with Union Bank.
  • Fiserv’s TradeFlow enhanced to support SWIFT’s GETC.
  • Sonora Bank implements SilverLake core processing platform from Jack Henry Banking.
  • LendUp raises $50 million credit debt facility from Victory Park Capital.
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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Fidor AG is First Bank to Deploy Ripple Protocol

By David Penn Posted on
Categories: Fidor Bank, Ripple

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We don’t know who reported the news first, but Finovate was glad to be among the few who figured out late last week that Fidor Bank AG was using Ripple to move money in three different countries. 

And once we were able to track down the source of this exciting development in the world of alternative payments, we couldn’t wait to share it.

Today we get further confirmation as Ripple announces that Germany’s Fidor Bank is indeed the first bank to adopt the Ripple protocol. Ripple Labs CEO Chris Larsen celebrated the occasion by emphasizing the benefits of his technology, chiefly its ability to provide “real-time settlement in any currency … at highly competitive rates” anywhere in the world.

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Fidor will use Ripple in a number of ways, including inter- and intrabank payments between other financial institutions and its own branches. The Ripple integration will also allow the bank to offer its customers faster and less expensive money transfer options.
It will be interesting to see how much Fidor’s deployment of Ripple influences other financial institutions to pursue similar alternatives. In nothing Fidor’s adoption of Ripple in a panel discussion at the Finextra Future Money conference last week, the Anthemis Group’s Udayan Goyal did so in the context of saying that “Swift will be gone in 3 years.” He tweeted later:

SWIFT, the Society for Worldwide Interbank Financial Telecommunication, is the leading provider of international interbank messaging. 
Developed by Ripple Labs, Ripple is an open-source, distributed payment protocol. The system allows anyone to transmit value anywhere in the world, securely and in real-time. Virtually free transactions and the lack of chargebacks make the technology attractive to merchants. And consumers can take advantage of the flexibility of Ripple to support everything from real and virtual currencies to non-currency value such as frequent flier miles and mobile minutes.
Ripple Labs won Silver in the “Best New Technology” category at the PYMNTS.com Innovation Awards this year, and has raised $9 million in funding. A Finovate alum, the company demoed its Ripple protocol at FinovateSpring 2013 in San Francisco.

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Finovate Alumni News– April 14, 2014

By Julie Muhn (@julieschicktanz) Posted on
Categories: Dashlane, FIS, Ignite Sales, Ripple, SeedInvest, TradeHero
  • Finovate-F-Logo.jpgPYMNTS looks at how Ripple hopes to build a global payments network.
  • Android Headlines reviews TradeHero.
  • FIS acquires CMSI, provider of consumer loan origination and portfolio management software.
  • CNBC’s Squawk on the Street interviews Dashlane CEO Emmanuel Schalit on Heartbleed.
  • SeedInvest raises $2 million in crowd funded investment campaign.
  • Ignite Sales wins 2014 Monarch Award for its Profitability Dashboard for OmniChannel Measurement.
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
Categories: Bill.com, Credit Karma, Klarna, Lending Club, Mitek, PayNearMe, PayPal, PaySimple, Prosper, Ripple, Venmo

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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.”

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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 
  • International e-commerce payments and money transfers
  • Finovate demo video: Europe 2012
Gold
  • Best B2B Innovation
  • Cash flow management solution for business integrating electronic payments, accounting, digital documents, and more
  • Finovate demo video: Spring 2012
  • Best Credit Innovation
  • Aggregates consumer financial data from bank accounts and credit scores to mortgage loans in one location
  • Finovate demo video: Startup 2009
  • Best Check Innovation
  • Enables check payments without having to write paper checks
  • Finovate demo video: Spring 2012
Silver
  • Best Credit Innovation
  • Online, peer-to-peer lender
  • Finovate demo video: Startup 2009
  • Best Cash Innovation
  • Cash transaction network 
  • Finovate demo video: Spring 2013
  • Best New Technology
  • Open-source, distributed payment protocol
  • Finovate demo video: Spring 2013
  • 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
  • Most Innovative Company
  • E-commerce solution mitigates credit and fraud risk for online merchants 
  • Finovate demo video: Spring 2012
  • Most Disruptive Innovation
  • Best Comeback Story
  • Peer-to-peer lending
  • Finovate demo video: Finovate 2007
  • Best Credit Innovation
  • 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 17, 2014

By David Penn Posted on
Categories: Dwolla, Heckyl Technologies, Ripple, rplan, SmartAsset, Zopa
  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgrplan announces new “simple, transparent” charging structure.
  • Crypt.la lists its top 10 most interesting Ripple protocol services.
  • Tech Cocktail Austin interviews Dwolla COO, Charise Flynn.
  • SmartAsset launches Retirement Planning Tool, Announces 40% Month-Over-Month Growth.
  • The Tally focuses on India-based Heckyl Technologies.
  • Zopa embraces ThoughtWorks technology to improve data analysis capability.
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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Ripple Opens Developer Portal as CrossCoin Launches Accelerator

By David Penn Posted on
Categories: Ripple

ripplelogo1.jpg

Two news items from the Ripple end of the digital currencies universe offer promise for those developers looking for good news among the Bitcoin gloom.

The first is word that Ripple Labs will be launching its developer portal. These two main features of the portal initially will be documentation for the new REST API, and a developer blog that will include not just news and updates on Ripple, but also in-depth interviews with engineers and developers engaged in real-world projects using Ripple.

Chris Larsen, Ripple CEO, states, “We are committed to providing more transparency for developers, making it easier for them to build on Ripple, and empowering them with the tools they need to be successful.”
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The second news comes courtesy of CrossCoin Ventures, The venture capital firm announced that it was launching an accelerator program specifically for digital currencies. Program participants will have access to the resources available through Ripple Labs, as well as funding, mentoring, and office space.
The goal is to leverage the Ripple protocol to create business models around remittance, real-time micro transactions, and business and consumer wallets. Said team member Adam Marsh, “we’re trying to use the power of crypto currency to change the world.”
Ripple debuted its technology at the FinovateSpring 2013 show in San Francisco, See the video here.

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Finovate Alumni News– January 15, 2014

By David Penn Posted on
Categories: BBVA, BillGuard, Fiserv, HelloWallet, Nutmeg, Ripple, Trustev
  • Thumbnail image for Finovate-F-Logo.jpgDiginomica takes a look at Trustev and the problem of e-commerce fraud. Come see Trustev demo its new tech at FinovateEurope this February 11-12.
  • HelloWallet noted as a third-party PFM option for employers who want to help their employees with their finances.
  • The Times Money section features Nutmeg in a review of ten myths about individual savings accounts.
  • BBVA to deploy next generation touch-screen ATMs courtesy of Wincor Nixdorf.
  • Ripple debuts on “TV’s No. 1 New Show” – NBC’s The Blacklist.
  • Travis Credit Union extends 30 year partnership with Fiserv by selecting DNA account processing platform.
  • Ron Shevlin recommends using BillGuard in tandem with credit monitoring.
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 14, 2014

By David Penn Posted on
Categories: ACI Worldwide, Backbase, Better ATM Services, IDology, Linkable Networks, Moven, Ripple
  • ACI Worldwide announces its point to point encryption (P2PE) solutions now supported by VeriFone, Ingenico, and Equinox.
  • New contract with Advanced Network helps Better ATM Services grow its reseller network.
  • Netbanker reports: Moven Offers Free Ride, but Only to New Uber Customers.
  • Industry analyst Ovum names Backbase a Market Leader for next generation digital banking platforms.
  • Linkable Networks partners with marketing content publishers to form The Linkable Network, its new card-linked shopper marketing network.
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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Ripple Labs Announces $3.5 Million in New Funding and a New Real-Time Pricing App

By David Penn Posted on
Categories: OpenCoin, Ripple

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With participation from Core Innovation Capital, Venture 51, Camp One Ventures, IDG Capital Partners, as well as additional individual investors, Ripple Labs (formerly OpenCoin) announced that it has raised an additional $3.5 million in financing. 

Boosting the company’s total funding to $9 million, the new capital will be put to use building tools for developers and consumers alike, geared toward enhancing the Ripple ecosystem.

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What is Ripple? One of the more compelling innovations of the still-nascent Bitcoin era, Ripple is a payment system that enables fast, secure, and virtually free transactions with no chargebacks to merchants. 

Transactions can take place anywhere around the world, and in any size, allowing users to send money in one currency and receive it in currencies ranging from dollars to yen to Bitcoin.
Says Ripple Labs CEO Chris Larsen, “Similar to the way in which email and other technologies drove the creation of a new global information web where anyone can communicate instantly and for free, Ripple is changing the way the world transacts with the first global value web.”
Arjan Schütte, founder and managing partner of Core Innovation Capital, agrees: “Ripple removes friction from even the most basic of payment transactions, leveling the playing field for underserved individuals and emerging markets around the globe.”
In addition to the funding news – and the name change – Ripple Labs has announced its platform is now fully open-sourced, and has produced its first app, Ripple Price (see above left). Ripple price provides real-time pricing for users, making it that much easier to discover and track the current price of XRP. Read more about the new app at the Ripple blog. 
Ripple Labs, as OpenCoin, made its Finovate debut at our spring show in San Francisco earlier this year. See their presentation here.

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