FinovateSpring Sneak Peek: Status Money

A look at the companies demoing live at FinovateSpring on May 8 through 10, 2019 in San Francisco, California. Register today and save your spot.

Status Money is a marketing platform that enables advertisers to deliver hyper-targeted offers and rewards via its budgeting app, email, and Chrome extension.

Features

  • Hyper-targeted offers produce profitable leads
  • Rewards motivate consumers to engage
  • Chrome extension delivers contextual offers

Why it’s great
The Status Money platform enables advertisers to reach the right person, with the right offer, at the right time.

Presenters

Majd Maksad, CEO and Co-founder
Maksad is the co-founder and CEO of Status Money. He was previously the Head of Analytics for the Citi Global Digital Payments group.
LinkedIn

 

Korash Hernandez, COO and Co-founder
Hernandez is the co-founder and COO of Status Money. He was previously a VP at Marcus by Goldman Sachs.
LinkedIn

Finovate Alumni News

On Finovate.com

  • NIIT Technologies to Acquire WHISHWORKS IT Consulting.
  • How Flywire Uses Machine Learning.

Around the web

  • NetGuardians partners with the University of Applied Sciences and Arts in Western Switzerland to improve ML and AI software for financial fraud detection and prevention.
  • Brewin Dolphin, one of the U.K.’s largest wealth managers, selects Avaloq’s software as a service solution for its back office infrastructure.
  • The Paypers: Worldline rolls out payment solution for online marketplaces.
  • Payjo relaunches as Interface.ai with a new interface, a new brand, and a platform for intelligent virtual assistants.
  • TurnKey Lender receives accreditation from the Singapore government’s IMDA, a certification that enables companies to expand into international markets easier.
  • Mambu to open a second North American-based office this year.
  • Authority Magazine interviews Ed O’Brien, CEO of eMoney Advisor.

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.

Dwolla Helps Status Streamline Cash Rewards for Savings

Status Money, the personal finance app that leverages peer comparisons and cash incentives to encourage users to make better financial decisions, announced a payments partnership with fellow Finovate alum, Dwolla, earlier this month. Status Money will leverage its new relationship with Dwolla to access the ACH network, so it can send earned cash rewards to members more efficiently.

Dwolla will also be a major part of the company’s referral program, which offers cash rewards for referring non-members to the app. Status members earn $1 for each referral who signs up, with the new referred member earning a $7 reward. After a member accumulates $10 or more in total rewards, they can redeem them for cash by way of a Dwolla-enabled, free ACH bank transfer.

Status Money CEO and co-founder Majd Maksad praised cash rewards as a new way to incentivize savings in the PFM industry, and said that working with Dwolla would enable the company to get cash rewards to members quicker. Status offers users powerful financial insights based on peer comparisons, national averages, and more than one million custom groups. This data, combined with personal finance algorithms, helps users better manage spending, savings, debts, and investments, and connects them with partnering FIs that offer relevant financial services.

Status Money demonstrated its technology at FinovateSpring 2018. With more than 200,000 members, the company has raised $4 million in seed funding from Altpoint Ventures. Earlier this month, Status announced adding its first $100 reward. Founded in 2016, the company is headquartered in New York City.

Dwolla demonstrated its FiSync technology at FinovateSpring 2015. Earlier this year, the company announced that it was powering AutoInvest, a new automatic investing feature from OneGold. Late last year, Dwolla announced a pivot to focus on its white-label API, discontinuing its final branded solution, Transfer. The Des Moines, Iowa-based company was founded in 2008, and has raised more than $54 million in funding.

Finovate Alumni News

On Finovate.com

  • AI Foundry and Ellie Mae Leverage AI to Accelerate Lending.
  • Dwolla Helps Status Streamline Cash Rewards for Savings.
  • Live from London: Breaking Banks Power Hour Rocks FinovateEurope.

Around the web

  • Marketing Technology Insights interviews BlueRush CEO, Steve Taylor.
  • PaymentsSource features nCino, Jumio, MX, LendKey, Kasasa, Jack Henry & Associates, Alkami, Finicity, and Prosper Marketplace in its list of the Best Fintechs to Work For.
  • Fiserv joins Financial Data Exchange as a sustaining member.
  • Partnership with Mercury FX brings Ripple to the Middle East and Canada.
  • TurnKey Lender highlighted as a top auto loan origination platform by HCCResearch.
  • European CFD/FX firm Windsor Brokers goes live with iSignthisISXPay and Paydentity solutions.

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 Sneak Peek: Status Money

A look at the companies demoing live at FinovateSpring on May 8 through 11, 2018 in Santa Clara, California. Register today and save your spot.

Status Money is the first platform that gives everyone the power to anonymously compare their spending, interest rates, and all other aspects of their finances.

Features

  • See how your finances compare with your peers
  • Get personalized insights and offers
  • Track your credit report, interest rates, and all your accounts

Why it’s great
Status is shattering the money taboo and giving everyone the power to compare their finances and make smarter financial decisions.

Presenters

Majd Maksad, Founder and CEO 
Maksad is the founder and CEO of Status Money, and was previously the head of decision management for Citi Global Digital Payments in New York.
LinkedIn

 

Korash Hernandez, Co-Founder and COO
Hernandez is the co-founder and COO of Status Money, and was previously an executive at Citi Cards and Goldman Sachs.
LinkedIn

Finovate Alumni News

On Finovate.com

  • doxo Teams with Coinstar to Facilitate Cash Payments for Underbanked.
  • Agreement Express Lands Funding from Frontier Capital.
  • Low-Code Development Platform OutSystems Forges Strategic Partnership with Atos.

Around the web

  • Iowa City-based Farmers & Merchants and Savings Bank to deploy Fiserv’s retail and business banking platform.
  • Zopa announces restructuring in advance of the launch of its challenger bank.
  • PYMNTS.com features Trulioo CEO Stephen Ufford in a conversation about the present and future of KYC.
  • Santander introduces its Santander One Pay FX service, a blockchain-based money transfer offering that leverages Ripple’s xCurrent technology.
  • Meniga CEO Georg Ludviksson selected as one of top 200 Fintech leaders in Europe
  • NuCypher teams with Origin Protocol to control access to sensitive information in decentralized marketplaces.
  • Efigence powers concept, UX, and design for BGŻOptima Bank’s new portal.
  • PYMNTS.com profiles anti-cyberfraud startup, Emailage.

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.