ZimpleMoney

FinovateSpring 2024 Sneak Peek Series: Part 8

By Madeline Clines Posted on
Categories: Cardlay Payment Solutions, FinovateSpring 2024, FinovateSpring 2024 Sneak Peek, Foresight, Transvision Solutions, TruStage, ZimpleMoney

A look at the companies demoing at FinovateSpring in San Francisco on May 21 and 22. Register today using this link and save 20%.

Cardlay Payment Solutions

Cardlay Payment Solutions’ white-label card and expense management product, Cardlay Expense, delivers an exceptional, real-time experience for card users.

Features

A fully bank-integrated, real-time product that helps banks provide corporate card clients a highly competitive user experience.

Who’s it for?

Banks, card issuers, fleets, other payment providers, and small, midsize and large corporations.

Foresight

Foresight is the operating system for the private market. Their software makes sourcing, diligence, and portfolio management data driven.

Features

  • Finds the right company to lend to, invest in, or buy
  • Makes diligence smarter and faster
  • Sees and models portfolios in real-time with all data integrated

Who’s it for?

Venture capital and private equity firms, commercial banks, pension funds, M&A advisors, and corporate development teams.

Transvision Solutions

Transvision Solutions is a tech firm specializing in AML solutions and analytics consulting. They offer advanced software to global financial institutions, focusing on combating financial crimes.

Features

  • Detects unusual activity efficiently using advanced analytics
  • Ensures compliance with real-time alerts and reporting
  • Reduces compliance costs by 30% minimum and increases efficiency

Who’s it for?

Banks, payment service providers, money service businesses, lending firms, law firms, credit unions, insurance companies, and retail organizations.

TruStage

Payment Guard by TruStage is a first-of-its-kind insurance solution built for digital lenders, designed to attract more borrowers and build more resilient loan portfolios.

Features

  • Attracts more borrowers
  • Strengthens loan portfolios
  • Reduces time spent on collections

Who’s it for?

Digital lenders.

ZimpleMoney

ZimpleMoney makes private lending simple between families, friends, and businesses, while empowering banks and credit unions with added visibility and control.

Features

  • Improves customer satisfaction
  • Increases account retention
  • Creates new channels for non-interest revenue and deposit growth

Who’s it for?

Banks, credit unions, and any business or other private party extending financing to their borrowers, customers, tenants, friends, or family.

Share this:

Send Post Twitter LinkedIn Facebook

ZimpleMoney Launches Peer-to-Peer Loan Platform to Power Social Finance

By Jim Bruene Posted on
Categories: Launches, Loans & Credit, P2P Lending, ZimpleMoney

image Start-up activity in the financial technology sector has slowed dramatically since Sept./October when a dozen online finance startups launched (see previous post), not a surprising development given economic conditions and the time of year. 

Still, a number of companies remain in the pipeline, and yesterday we saw the launch of an entrant into the battered P2P lending space. But ZimpleMoney is not entering into the newly SEC-regulated market occupied by Prosper, Lending Club, Loanio and other hopefuls. Instead, the Costa Mesa, CA-based startup is offering a platform with tools so that third parties can either build lending services on top of it, or use ZimpleMoney’s processing capabilities to manage loans and financial transactions.

ZimpleMoney can also be used like Virgin Money USA or LoanBack to handle a single loan amongst friends and family, either for personal or business use. The introductory price for an individual loan is $39 plus $7.99/mo.  

The site, which opened Monday, still looks more like a beta operation. The registration system wasn’t fully functional yesterday, and I ran into several broken links today. But minor annoyances aside, it’s an interesting development that should help drive social finance forward.

Given Prosper’s recent woes, we are not likely to see new Prosper-like P2P exchanges using the ZimpleMoney platform any time soon. But it could be a good way for nonprofits, foundations, or microfinance organizations to launch Web-based loan operations with a minimal amount of development time and expense. Banks, credit unions, and other financial services companies could also private-label the service for their clients.

In his announcement email Monday, CEO (aka ZEO) Steven Rabago said they’d had interest from several nonprofits, a realty company, an investment management company, a student lender, and a large regional bank. Rabago started his career as a commercial banker at Bank of America. He left in 1983 to start National Corporate Finance (now called Archarios). In 2001, he co-founded a location-based services company Telogis, where he remains as a board member.

ZimpleMoney homepage (9 Dec 2008)

image

Note: For more info on the market, see our Online Banking Report on P2P Lending.

Share this:

Send Post Twitter LinkedIn Facebook