Finovate Alumni News– October 6, 2011

  • Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgNetbanker highlights BillGuard’s monthly credit/debit card scan report.
  • Offermatic unveils OfferMatch, a pay-for-performance marketing channel that brings customers.
  • NBC Chicago names Ben Milne, Dwolla CEO, as a person to watch during Ideas Week.
  • WealthTouch partners with TILE Financial to create portfolio-reporting offerings for high net worth young adults.
  • Wall Street and Technology lists Zecco as 1 of 6 brokerages leading the way in social media.
  • New York Times blog reports BankSimple to go live on the Web next month.
  • HelloWallet announces its fall webinar series.
  • Business Daily Africa compares Xero and Kashoo accounting services with QuickBooks.
  • Credit Karma’s new feature graphically compares credit card clientele.
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 News — Week of July 11, 2011


Last week, AlwaysOn released its 2011 AlwaysOn Global 250 Top Private Companies List that represents the top emerging companies Worldwide. Twelve Finovate Alumni were selected:
  • BillFloat
  • Bling Nation
  • Boku
  • Cardlytics
  • ClairMail
  • Expensify
  • IDAnalytics
  • Lending Club
  • SecondMarket
  • Wikinvest
  • Wonga
  • Yodlee
In other Alumni News:
Aptys Solutions

Aptys Solutions.jpg

Aptys Solutions announced that the ACH functionality in its PayLogics payment platform provides same-day settlement. Link 
Balance Financial
  • Balance Financial launched Balance Certified Pro, a new software that is geared toward professionals. Link
  • Balance Financial released an iPhone App. Link
TechCrunch reported that BillGuard’s “Anti-virus for Bills” is now completely free for users. Link
CNNMoney’s article, Simplify Your Retirement Savings, pointed to BrightScope to provide a clear understanding of retirement savings. Link
ChargeSmart announced that its Bill Payments customers can now pay many of their utility bills with an American Express card. Link
Continuity Control
Continuity Control raised $1.1 million in financing from convertible promissory notes and warrants. Link


The Miami Herald reported that Cortera’s Risk Data and Reporting is now an SAP-endorsed business solution. Link
Cortal Consors
Institutional Investor ranked Oliver Le Grand, CEO of Cortal Consors, number 13 of 50 in its Tech 50 ranking of financial tech leaders and innovators. Link
Credit Karma
Credit Karma’s new feature, Credit Alerts is available for free to the first 200 people to click the link. Link
Credit Sesame
The Hands On Home Buyer blog recommended Credit Sesame for its interactive property taxes tool. Link
The Business Insider reported that Currensee plans to launch its Trade Leaders program in China. Link
  • The E-News publication, Business Record, commented on Dwolla’s positive impact on Iowa’s startup culture. Link
  • Financial Plus Credit Union adopted Dwolla’s FiSync integration. Link
Dynamics revealed its angel investors in Series A and Series B funding rounds. Link
Guardian Analytics
  • American Banker reported that Guardian Analytics is planning to launch an outsourced fraud prevention service that will help financial institutions meet new FFIEC guidelines. Link
  • Guardian Analytics introduced its FraudDESK service to provide fraud analytics support to financial institutions. Link
  • Guardian Analytics is hosting a free webinar on Tuesday that will explore FFIEC guidance. Link
iPay Technologies
iPay Technologies helped Generations Community Federal Credit Union increase bill pay adoption and its number of transactions. Link
Lending Club
  • San Francisco ABC News Channel 7 explained the benefits of P2P loans from Lending Club. Link
  • Finextra news blog discussed Lending Club’s success. Link
  • American Banker reported that, in June, Lending Club saw an increase of 7% in loans originated that totaled a record $20 million. Link
Lodo Software
The Silicon Prairie News reported that Lodo Software is seeking to raise $5 million in a round of Series D funding. Link

Columbia Credit Union announced that it deployed mFoundry’s mBanking, a mobile banking platform. Link


MSN Money reported that Mitek Systems began a NASDAQ market listing on July 14th, and is trading under the symbol MITK. Link
  • CNBC reported that Monitise’s ReliaCard will be offered to U.S. Bank’s Visa cardholders in some states. Link
  • Monitise, US Bank, and FIS announced that they are planning to offer a mobile app for Visa’s ReliaCard users. Link
  • San Francisco’s ABC News Channel 7 explained the benefits of P2P loans from Prosper. Link
  • Finextra news blog discussed Prosper’s success with its P2P lending service. Link
Q2ebanking’s director of security solutions, Ward Howell, published an article detailing a Credit Union’s perspective of the FFIEC guidelines in The Credit Union Ti
mes. Link
Receivables Exchange
Institutional Investor ranked Justin Brownhill and Nicolas Perkin, Co-Founders of The Receivables Exchange, as number 42 of 50 in its Tech 50 ranking of financial tech leaders and innovators. Link
Standard Chartered
Institutional Investor ranked Jan Verplancke, CIO of Standard Chartered, as number 37 of 50 in its Tech 50 ranking of financial tech leaders and innovators. Link
TILE Financial

TILE Financial.jpg

Daily Finance interviewed Amy Butte, CEO of TILE Financial. Link
TradeKing announced the public availability of its API. Link
CoVantage Credit Union chose to implement Tyfone’s mobile wallet solution. Link
  • Zopa founder Giles Andrews was interviewed on BBC’s The Bottom Line. Link
  • Finextra news blog discussed Zopa’s success as a P2P lending service. Link

Alumni News — Week of May 23, 2011

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Aptys Solutions
Aptys Solutions signed with Banker’s Bank, a top check depositor with the Federal Reserve Link

Backbase to host webinar on how to use social media in financial services Link


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  • Betterment announced a growth of over $10M under management and over 4000 customers in first year Link
  • Betterment celebrated its first birthday Link is working to improve its mobile offering for small and midsized businesses Link

Mobile Entertainment explained how Boku will revolutionize pay-by-mobile for digital goods Link

Capital Access Network
CNBC explained how Capital Access Network solves the need to use financial creativity Link

Credit Karma
WiseBread Blog interviewed Credit Karma CEO Link



  • doxo’s first fan video was posted online Link
  • Oregon employees were the first to give its members doxo’s online file cabinet Link
  • TechFlash highlighted the benefits of using doxo to achieve paperless business Link
  • 2Minute Finance interviewed doxo at FinovateSpring Link


  • Dwolla was listed by inc Tech as one of three startups you must know from Big Omaha Link
  • Credit Union Times listed Dwolla as a new P2P service rivaling ‘bank giants’ Link

edo Interactive
MyBankTracker interviewed edo Interactive COO about its Prewards service Link

Slate explained how Expensify will help the ‘frequent flier’ Link


Technorati described how Kabbage works with eBay Link

Lending Club

  •’s blog covered what you need to know about Lending Club Link
  • San Francisco Business Times commented on Lending Club’s strong backing from both investors and lenders Link
  • San Francisco Times reported that Lending Club stated it is not planning to go public for several years Link

Entrepreneur featured LendingKarma as a good tool to use when borrowing money from family or friends Link

San Francisco Chronicle reported that Lendio offers funding opportunities for new grads Link

Lodo Software
Lodo Software was described as a startup providing jobs in the “Silicon Prairie” region, a.k.a. Omaha Link


Monitise released a report predicting that the majority of consumers will use mobile money services within the next three years Link

Mortgagebot reached 1000 clients, one of its goals from the beginning Link

2MinuteFinanced interviewed PayDivvy about its services Link


BillShrink examined PayNearMe’s cash payment service Link

Mass High Tech interviewed Iker Marcaide from peerTransfer about becoming an entrepreneur Link

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ProfitStars announced a new version of Margin Maximizer that’s now available as a hosted solution Link

Robot Dough
2MiniuteFinance toured RobotDough’s demo during interview at Finovate Spring Link


  • Wall Street Journal stated that SecondMarket helped fuel the tech boom Link
  • CNBC interviewed SecondMarket for an explanation of the change in trading numbers Link and LinkThumbnail image for smartypig.jpg

Smarty Pig
Smarty Pig launched new sharing features, including activity sharing and goal sharing Link

Striata will host a June 2 webinar for implementing successful ebilling strategies Link

San Francisco Chronicle covered ThreatMetrix’s research around mobile transaction activity Link

TILE Financial
TILE Financial released a Financial Identity Profile to strengthen the connection between advisors and under-30 consumers Link


TradeKing divulged the lineup of its free webinars in June Link

Tyfone won 2010 Asia Pacific Smart Card Association Award for its NFC innovation and implementation Link

Dow Jones Advisor highlighted Wikinvest as a way to analyze portfolios Link


  • Wonga won 2011 Red Herring Top 100 Europe Award for exceptional accomplishments Link
  • Wonga won the Media Momentum Awards, a coveted award for digital media companies in Europe Link
  • Wonga’s Errol Damelin discussed consumer-centric credit Link


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  • Diversity Limited commented on Xero’s move to the US markets Link
  • Xero and Keebo teamed up to help you manage and process receipts Link
  • New Zealand Herald commented on Xero’s surging revenue Link


  • The Wall Street Journal reviewed Zecco’s new Facebook app Link
  • Zecco launched an app for stock trades & viewing realtime market data on Facebook Link

Zopa shows how it helps consumers protect against inflation Link

Spend Grow Give: TILE Financial’s New Learning Environment


During FinovateSpring last week, I spent a lot of time talking with demoing companies about their new products and services. I was impressed by the overall utility of the products and the friendliness of the entrepreneurs. Over the next few months, I’ll be profiling a number of the companies that presented last week. 
Amy Butte, former CFO of the New York Stock Exchange, founded NYC-based TILE Financial in 2008 with a goal to help financial institutions hold onto the $1.5 trillion in assets projected to be inherited during the next 10 to 15 years.  
Thumbnail image for WhatMoneyMeans2Me.jpg
TILE seeks to help young adults establish a financial identity, learn to follow a budget, and understand financial terms and concepts. It’s also meant to facilitate a dialogue with their parents, grandparents or other funder, and their financial advisor. 
Through TILE’s Spend Grow Give interface, the topics of money and finance are expected to transition from taboo to comfortable subjects. The unique user-interface is very visual, perfect for the target audience of 15 to 25-year-olds.  
How it works
  • Account Overview
    After logging in, I see an overview of my account divided into three categories: 
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Each contains a pie chart of my spending, investments and charitable contributions. Please note that the Grow category is empty because I am using a test account without investments.
  • Reference Bar
    Pictured below, this feature has eight tabs and is located at the bottom of the user interface (see homepage screenshot at end of post). My favorite tab is TILEcasts, a unique reference tool that contains video clips of experts talking about subjects such as, “Here’s Why You Need Insurance.” The clips break down complex financial issues into bite-sized pieces with digestible language. 
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  • Alerts
    The interface includes customized alerts such as portfolio changes, budget limit approaches, and so on. Alerts are delivered via the TILE site, email, or text message.
Profile Page: 
  • My Profile
    At first glance, the profile appears similar to Facebook. I can upload my picture, update my status, and share with the TILE community, my financial advisor, my funder (i.e., parent/grandparent), Twitter, or Facebook.
  • Features
    The main part of the profile page is My Financial Identity, which features the homepage categories: Spending, Growing, and Giving, as detailed below. Each contains quizzes and tutorials that allow the user to understand what money means to them. TILE refers to this as a person’s “financial identity.”
– Spending

Here, I can see how well I know my budget. I take a quiz to test my knowledge of how much I spend on certain categories and am guided through a tutorial to help adjust 

monthly spending habits. Another lesson teaches the basics of establishing credit.Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for BudgetQuizIntro.jpg

– Growing 

In this section I can learn when to start investing, how to time financial 

markets, and take a risk profile assessment. There is an easy-to-use calculator that inputs age, investment 


amount, and interest (see graph on the right) to show growth over time.
– Giving
This area features a quiz to help me discover causes I really care about and would allocate charitable giving to.  It requires much thought and in the end helped me create my own mission statement. 
My user experience documented here covers only a small section of what is available in TILE’s Spend Grow Give product. To see it in action, stay tuned to to check out TILE’s demo that will be posted in the next few weeks.
TILEfullScreen.jpgHomepage View