Tradeshift’s Instant Payments Gives Businesses a Faster Way to Receive Cash from Invoices

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Next, Tradeshift showed off its Instant Payments technology that will be released in April of this year:

“Instant Payments will allow businesses – and particularly SMEs – to receive instant payment for invoices approved through the platform. Companies will benefit from interest rates significantly lower than alternative funding options and will no longer see cash flow impacted by long payment terms or late payers. This new service integrates seamlessly with Tradeshift’s existing e-invoicing solution which is free to suppliers, providing the financial flexibility small businesses need to succeed.”

Product Launched: April 2012

HQ Location: San Francisco, CA
Company Founded: May 2010
Metrics: 60 employees, 60,000 signups across 190 countries, $30 million USD (YTD) in funding
Website: tradeshift.com

Presenting Christian Lanng (CEO) & Jeppe Rindom (CFO)
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FinovateEurope 2012 Sneak Peek: Part 2

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As promised last week, here is our second “sneak peak” into the hot young startups and established leading companies that will demo their latest fintech innovations at the second annual FinovateEurope next February 7th in London.
As we mentioned in the first sneak peak, we asked each handpicked company to “whet your appetite” by providing a short summary in their own words of the innovation that they will be debuting on stage. We’ve compiled them below.
Don’t miss your chance to see fast-paced demos of the newest ideas from each company and meet the execs responsible for the cutting edge of innovation in financial and banking technology. Plus get your FinovateEurope ticket before December 23rd and you’ll lock in the early-bird price!
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Backbase will be presenting major new features in its Bank 2.0 Portal Manager, focusing on the following key points:
  • Improved editor for page composition on regular browsers and mobile devices
  • Advanced segmentation and targeting for different customer groups
  • Fully integrated forms editor for enrollment and BPM
  • Advanced analytical and performance tools
Innovation type: Marketing, mobile and tablet UI, online UI


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Aimia’s unique advertising platform, powered by Cardlytics, enables banks to deliver rich, relevant rewards to their customers. The platform uses customers’ unique purchasing history to deliver rewards that strengthen retention rates, increase card usage and improve customer relationships. The Cardlytics platform does all this without the need for any personally identifiable customer data.   
Critical to the success of the programme is merchant engagement. Aimia and Cardlytics will be demonstrating the portal which is used by merchants to track offers and report on revenue. The suite of merchant management tools allows merchants to deliver targeted strategies that deliver measurable results. 
Innovation type: Cards, marketing, rewards
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eToro provides you with immediate access to the largest investment network in the world giving you the ability to quickly find and easily build your own people-based portfolio of top performing traders. Automatically copy every trade your personal dream-team makes into your own investment account and start copying the success of the most successful traders. 
eToro reinvents the way people invest their money by propelling them into the fast growing world of social investing. Take advantage of the wisdom of the crowds and make smarter investment decisions with full transparency and control over your invested funds at any given time.
Innovation type: Investing, online UI, PFM
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KYC compliance is a hot topic for financial services and Fenergo will introduce its Deal Manager application for client on-boarding, KYC compliance and account opening.
Fenergo will demonstrate how banks and financial institutions can reduce the burden and cost of KYC compliance with its straightforward application which manages all of the complex KYC data gathering and document processes and ensures full compliance with industry regulations. 
The best bit is that its Deal Manager application also supports credit processes and legal document execution, so processing new client applications has never been so straightforward. 
Innovation type: Back office, sales
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An onboarding tool that increases customer engagement at the same time? Figlo offers you a complete solution to gain insight in financial matters on a consumer level. Financial planning is now accessible for everyone on any device. 
Curious? Figlo’s 7 minute demo will reveal the power of financial insight.
Innovation type: Mobile and tablet UI, sales

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Handpoint will be demonstrating the first totally secure mobile Chip & PIN payment solution for tablets and smartphones. The solution supports all card payments; magstripe (MSR), Chip & PIN, Chip & signature and contactless NFC Payments (2012).
With Handpoint’s Platform-as-a-Service acquiring, banks and MNOs can offer small/micro merchants card payments, tablets, and smartphones under their own brand name.
Innovation type: Payments, mobile and tablet UI
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Holvi replaces the plain old bank account with a current account built from the ground up for group activities. It helps customers collect more money, better understand their finances, and save time for their core activities. Customers include event organisers, sports clubs, and student associations and they can do all their banking with Holvi, without needing another bank account. 
Holvi is regulated as a payment services provider by the Finnish Financial Supervisory Authority (FIN-FSA), and it has the necessary banking partnerships in place to operate payment accounts for customers on a pan-European basis.
Innovation type: Banking, online UI, payments

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Facebook logins are crucially important. Online banking logins are severely difficult to remember. Can something be done about this and still meet the highest standards of identity security? 
Ping Identity will show you how to deliver the best login experience to your prospects and customers. Don’t turn them away with form filling and repetitive password requirements. Give them access to your financial networks and partners. Build trust and relationships with your customers.
Innovation type: Identity, marketing, security
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Meniga is expanding its PFM solution to add a new, highly user-centric layer on top of traditional online/mobile banks. 
The interface de-emphasizes real accounts and actual balances and instead shows “uncommitted balance” and virtual accounts. It also allows users to automate routine tasks and includes an alert framework designed to bring peace of mind by alerting users before bills go unpaid or before any account’s balance becomes too low to meet commitments and forecasted expenses.
Innovation type: Online UI, Payments, PFM
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Investing is scary. I can invest, but I forget to buy or sell or rebalance. My financial advice has been useless. I want to be in control of my finances. I know I should be doing more with my money. 
Nutmeg knows that investing is about more than money. It’s a passport to the life you want. That opportunity shouldn’t be reserved just for the wealthy, or just for those in-the-know.
Nutmeg asks, what if investing were simple and beautiful? And what if everyone could do it?
Innovation type: Investing, online UI, PFM
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Banks around the globe have really struggled to understand how they can leverage the power of Facebook. 
Serverside has developed a new and unique way to leverage Facebook in an exciting and engaging manner that drives real brand value, loyalty and engagement from your customers.
Innovation type: Cards, marketing

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Going paperless saves money and improves customer service. However, most customers are not switching off paper because the registration process is inconvenient, complicated and results in having to remember another username and password and to fetch the document every month.
Striata’s eConsent puts you in control of the paperless conversion process. Its clients are exceeding their paperless objectives and achieving a positive ROI in a matter of months.
Innovation type: Back office, communications, marketing

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What would make the biggest impact on the way you manage cash flow and financing? Improved processes? Streamlined operations? Or maybe more flexibility in the way you manage payment terms with suppliers?
Things change. Shift happens. Tradeshift has already transformed invoicing, now its doing the same with supply chain finance. 
Innovation type: Back office, payments, small business

Tradeshift Signs Deal With French Government

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Recently, the French government signed a deal with online invoicing company Tradeshift. One of the government’s divisions, ADETEF, plans to implement the London-based startup’s invoicing technology:

“ADETEF, which is the international assistance agency of the ministries for economy, budget and sustainable development, will use the company’s online platform to connect with suppliers and manage invoices digitally, eliminating the need for manual processing.”

This move aligns with The Pan-European Public Procurement Online (PEPPOL) initiative that aims to standardize e-invoicing for the European Union.

To learn more about Tradeshift, come watch its live demo at FinovateEurope February 7, 2012 in London.