Finovate Alumni News

On Finovate.com:

  • Twitter Talk from FinDEVr 2017 New York.

Around the web

  • FinDEVr New York newcomer Fiserv announces enhancements to its real-time, loan servicing solution, LoanServ.
  • Credit Donkey lists StockTwits, TradeKing, SigFig, DriveWealth, and Personal Capital among its Best Investing Apps of 2017.
  • Swiss financial sector infrastructure operator SIX partners with IBM Watson to build cyber-security hub. Video of IBM’s FinDEVr 2017 New York presentation last week will available soon in our video archives.
  • PYMNTS.com looks at speculation that Kabbage may acquire OnDeck.

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.

FT Partners New Research Report on Digital Wealth Management Features a Dozen Finovate Alums

FTPartners_logo_2The new research report on digital wealth management from Financial Technology Partners is a timely reminder of just how deep the firm’s dedication to, and insight into, the fintech world goes (that the report features a dozen Finovate and FinDEVr alums is pretty neat, too).

FT Partners’ report “Are the Robots Taking Over? The Emergence of Automated Digital Wealth Management Solutions” looks at the different platforms and business models used by digital wealth management companies, as well as the response by industry incumbents. The 140+ page report also features interviews with CEOs from leading major digital wealth-management companies such as Betterment, Nutmeg, and SigFig.

Writing about this FT Partners’ report on digital wealth management for Bloomberg View, columnist and money manager Barry Ritholtz noted:

“For those of you who may not have thought much about how technology might affect Wall Street, the work you do each day, and how you do it—not to mention what it means for your careers—this report is invaluable.”

Ritholtz outlined how his own experience as a money manager had been shaped by the rapidly changing technology landscape (“My office is small, but thanks to technology, and fintech in particular, we are able to be very productive with just 14 people,” he wrote). He also admits this productivity comes at a cost for some. “Those people who don’t adapt will find themselves with limited career options,” Ritholtz writes.

So who are the disruptors in the digital wealth management space of whom both FT Partners and Ritholtz speak?

Betterment_logo

 

dyme

 

 

 

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HedgeableLogo

 

 

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  • Founded in 2008
  • Headquartered in Los Altos, California
  • Kevin Cimring and Michael Blumenthal are joint CEOs
  • Acquired by Invesco, January 2016
  • FinovateSpring 2013

LearnVest_logo

 

 

  • Founded in 2009
  • Headquartered in New York, New York
  • Alexa von Tobel is CEO and founder
  • Acquired by Northwestern Mutual, March 2015
  • FinovateFall 2013

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  • Founded in 2005
  • Headquartered in Boca Raton, Florida
  • Donato Montanaro is CEO
  • Acquired by Ally Financial, April 2016
  • FinovateSpring 2008

 

Finovate Alumni News

On Finovate.com

  • “Big Blue Backs Mobile Banking in Rural China”
  • “BRIDGEi2i Closes Series A Funding Round”
  • “NICE Funding! CallVU Raises $3 Million”
  • “Ping Identity Acquired by Vista Equity Partners”

Around the web

  • “Check Point Named Leader for Vision and Execution in the Gartner Magic Quadrant for Firewalls”
  • Boku brings mobile carrier billing to U.K. sports and entertainment venues.
  • Thomson Reuters launches FX benchmark service.
  • Monitise no longer plans to sell its marketing content business Markco Media.
  • “Jack Henry & Associates and Inlet Partner to Bring Enhanced eBill Functionality to 4,000 Financial Institutions”
  • Wealthfront introduces its 529 College Savings Plan.
  • Intelligent Environments teams up with Queen’s University Belfast’s Centre for Secure Information Technologies (CSIT).
  • Wall Street Journal features Tuition.io in a look at how employers are providing low-cost loans to employees.
  • Ally Financial announces completion of TradeKing acquisition.

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

Ally Financial Acquires TradeKing for $275 Million

TradeKingHomepage

TradeKingan online brokerage firm that prides itself on straightforward, low pricing, has been acquired by Detroit-based Ally Financial (NYSE: ALLY), a publicly traded financial services company primarily known for auto-lending. The purchase price paid in cash is $275 million.

Ally is purchasing the Florida-based company for its online broker/dealer, digital portfolio-management platform; educational content; and social collaboration channels. According the the Wall Street Journal, the acquisition will serve as a stepping stone to help Ally expand its services into wealth management, mortgages, and credit cards. Ally CEO Jeffrey Brown says, “The addition of wealth management is the next key step in Ally’s digital product evolution and will create a powerful combination of segment-leading direct banking and innovative investment services in a single integrated customer experience.”

The deal is expected to close in Q3 of this year. Once it does, TradeKing’s 180 employees will join Ally Financial. TradeKing, with $4.5 billion in assets under management, will operate under the branding of Ally Financial.

In the early days of Finovate, TradeKing presented the TradeKing Community at FinovateSpring 2008TradeKing Community is one of the first brokerages to create a social network that enables investors to share their online trades with others.

Finovate Alumni News

On Finovate.com

  • “Persado Pulls in $30 Million in Funding Led by Goldman Sachs”
  • “Ally Financial Acquires TradeKing for $275 Million”

Around the web

  • Mistral Mobile unveils its new, two-factor authentication solution, m-Aegis Secure OTP.
  • Azimo announces expansion within Denmark and Sweden.
  • TransferTo adds GGV Capital venture partner, Lee Kheng Nam, to its board of directors.
  • Alpha Payments Cloud teams up with WeCollect to launch China Payments Cloud.
  • Broadway Bank selects Micronotes’s cloud-based marketing automation platform to boost digital customer engagement.
  • RBC partners with BlackRock’s FutureAdvisor for robo-adviser pilot program.
  • “OutsideIQ Chosen To Participate In Brazilian Innovation Summit”

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

  • “Gusto, Formerly ZenPayroll, Closes on $50 Million Funding”
  • “U.K.-Based Yoyo Rolls Out Mobile Wallet in U.S.”

Around the web

  • B2B commerce technology company Handshake teams up with Xero.
  • Braintree launches new extension of its v.zero SDK in partnership with Magento Commerce.
  • CRIF Credit Solutions unveils new, fully responsive website geared toward international audiences.
  • Business Insider names Kabbage, Twilio, and Prosper as 3 of 42 startups that grew to be worth billions in 2015.
  • Top Image Systems to deploy eFLOW Digital Mailroom at GED Bulgaria.
  • NerdWallet’s five financial tips from robo-adviser CEOs feature insights from leaders of Betterment, Wealthfront, TradeKing Advisors, FutureAdvisor, and Personal Capital.
  • Nine months after launching, One Touch from PayPal reaches 10 million users in 23 countries.

This post will be updated throughout the day as news and developments emerge. You can also follow alumni news headlines on the Finovate Twitter account.

Alumni News– January 23, 2015

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgInternet Retailer looks at the relationship between product reviews and revenue courtesy of a new report from Baazarvoice.
  • Xero highlighted as “our best purchase of 2014” by Business Betties.
  • MakeMoneyYourWay profiles EZBOB and its new business loan promotion, the New Year’s Revolution.
  • Zee News’ Money Guru interviews Abhishek Dwivedi, vice president operations at BankBazaar.com.
  • Liverpool Echo features Toshl Finance in its list of must-have apps for busy moms.
  • Investopedia’s guide to choosing roboadvisors spotlights nine Finovate alums: Betterment, FutureAdvisor, JemstepLearnVest, Motif Investing, Personal Capital, SigFig, TradeKing, and Wealthfront.
  • Benzinga Fintech Awards publishes its video interview with Gary Zimmerman, CEO of MaxMyInterest.
  • American Banker covers OnDeck’s small business loan marketplace for institutional investors.
  • Pymnts interviews René Lacerte, CEO and Founder of Bill.com about how to simplify B2B payments.
  • Mifos welcomes new partners: SkooliLabs and iSystems
  • Google Cloud Platform releases beta of Google Container Registry for secure hosting, sharing, and management of private container repositories.
  • BlueVine Grabs $18.5 Million to Increase Small-Business Lending.
  • Encap Security CEO Thomas Bostrom Jorgensen asks if biometrics provide a “false sense of security” in a column for Bob’s Guide.
  • Akimbo Financial acquired by Payment Data Systems.
  • Kreditech Secures $200 Million Line of Credit.
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– January 22, 2015

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgKreditech secures $200 million credit line from Victory Park Capital.
  • GMC Software and Silanis Technology partner to integrate eSignLive with Inspire.
  • Internet Retailer features Trustev CEO Pat Phelan in discussion on consumer fraud.
  • TradeKing unveils Risk Assist to protect clients against steep market declines.
  • Braintree completes initial integration with Coinbase; opens up private beta access.
  • Financial Post business section features Digital Retail Apps in its look at digital payments in 2015.
  • Realty Mogul adds new Senior VP of Mortgage Operations, Kendra King.
  • Temenos forges strategic alliance with EFT processor, Elan Financial Services.
  • Check out our latest FinovateEurope 2015 Sneak Peek, Part 4 featuring Bendigo and Adelaide Bank, CPB Software AG, Ixaris, JSC Delta Bank, QCR, and Topicus Financial.
  • Planwise launches Connect, leveraging affordability tools to help real estate agents engage potential buyers.
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– December 23, 2014

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  • The Tech Bulletin profiles Heckyl Technologies.
  • Sonavation announces acquisition of assets of Arkami.
  • Chelsea State Bank launches Larky-powered mobile app.
  • EVRY announces a four-bank, $160 million payments partnership.
  • Kashoo unveils version 4.1 of its cloud accounting and bookkeeping app for iOS. 
  • Walmart to distribute GreenDot prepaid products in 2015.
  • BMO Financial Group’s deployment of Xignite Enterprise wins American Financial Technology Award.
  • IT Qlick takes a look at Jwaala Personal Financial Manager and roomMaster.
  • CashStar teams up with Spafinder Wellness.
  • NY Times DealBook looks at disruptive startups in fintech including Lending Club, On Deck, and TradeKing.
  • Forbes.com column on how companies stand out from the crowd features Silanis Technology.
  • Jemstep to power Redhawk Online Advisor.
  • Continuity Control taps Peter Rawlinson as Chief Marketing Officer.
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– December 19, 2014

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgMoney Facts looks at how TransferWise helps consumers save on money transfer fees.
  • Huffington Post features Matthew Goldman of Wallaby Financial in a conversation on credit card strategies for travelers.
  • PYMNTS.com interviews LoopPay Chief Technologist George Wallner.
  • A comparison between Stockholm and Silicon Valley in The Independent highlights Klarna.
  • Virtual Agent Chat checks in on post-acquisition IntelliResponse.
  • Cardflight’s SwipeSimple joins MasterCard mPOS providers.
  • News.com.au reports: How Xero went from a scribbled figure on a serviette to a $2 billion company.
  • Crealogix and Meniga create Digital Bank and PFM Solution for BNP’s Consors Bank.
  • peerTransfer named 2014 Winner of BostInno’s 50 on Fire Award.
  • Forbes lists Holvi as 1 of 5 Finnish startups to watch.
  • Programmable Web considers how Open Bank Project’s API brings more openness to banking internationally.
  • Ayondo launches ad campaign on 2 major German TV networks.
  • Business Insider features Betterment, Financial Guard, FutureAdvisor, Jemstep, Personal Capital, SigFig, TradeKing, and Wealthfront in a look at the growth of robo-advisors.
  • BrightScope releases its Top 30 401(k) Plans List.
  • Management Today profiles David Harrison, managing partner at True Potential.
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.