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My favorite session at Money2020 Expo, the massive new trade show organized by Google Payments execs(see note 1), was about as far away from the buzzy mobile wallet and payment schemes as one could get. I was struck by the potential of alt-business lending. The technology could have a more lasting economic benefit, at least Read more…
Online payments platformPayPal made two key announcements earlier this week. First, it announced that PayPal Here is being sold at 1,800 AT&T stores nationwide. The payment dongle costs $15, but you can recoup that money after signing up for a PayPal Here account. In comparison, PayPal Here competitor, Square, sells for $10 with a $10 Read more…
This month, we interviewed John Waupsh, Chief Innovation Officer and Creative Director of BancVue, to get an inside scoop on the Austin-based company. BancVue has demoed at FinovateStartup 2008, Finovate 2009 and FinovateSpring 2011. It took home Best of Show titles all three times. Finovate: What’s the biggest mistake you’ve made at BancVue and how did you fix it? Read more…
Last up for this session, ValidSoft showed the audience its SMART technology: “ValidSoft’s SMART platform caters for the disparity in mobile networks and devices, use cases and the corresponding transactional risk intrinsic in mobile payment applications. SMART achieves this by providing a layered architecture of voice and mobile network‐based security protocols and technologies, both visible and Read more…
Next, TouMetis showed off $mart, a PFM for small businesses: “TouMetis will be launching an extension to Personal Financial Management for small business owners. With over 25M+ small/micro business owners in the United States, it’s the second largest customer segment for financial institutions behind consumer banking. We believe small business owners are largely underserved by today’s Read more…
Second, Emida demonstrated a cash alternative for underbanked consumers: “Cash and Transact allows consumers to apply cash to their virtual mobile account without requiring an existing bank account or credit card collateral. Account holders can load value to their Cash and Transact account and then transfer cash or pay for goods and services with anyone, anytime, Read more…
Afterward, Backbase demonstrated Launchpad, a solution that minimizes time-to-market for mobile projects: “Backbase Launchpad is a new and unique banking experience, based on Backbase Portal technology. Launchpad offers the latest innovations and best practices in user experience design and cross device customer journeys. The goal of Launchpad is to drastically bring down time-to-market for online and Read more…
Luminous, who was last up for the first session, launched BankFiling: “BankFiling is an innovative solution that enables banks to recover significant cost leakage by automating the timely collection of periodic financial information from business customers with credit exposure to the bank.” Product Launched: September 2012 HQ Location: Johannesburg, South Africa Company Founded: 2007 Metrics: Luminous Read more…
Afterward, Thomson Reuters took the stage with its App Store solution: “Thomson Reuters is pleased to introduce their App Store solution that enables access to the latest innovative capabilities and tools for use across the digital enterprise. The Thomson Reuters solution enables financial institutions and third party developers to effortlessly create pioneering market monitoring and investing Read more…
First up after intermission, Yodlee demonstrated its platform for small businesses: “Yodlee’s dynamic banking experience is now targeting small businesses on the go, with easy to use financial management tools that simplify cash management in a digital environment. We’ll be showcasing how small business owners can aggregate their account information, view key business metrics, manage and Read more…
Truaxis (formerly BillShrink) announced that it has been acquired by MasterCard for an undisclosed amount. As part of this deal, the Truaxis platform will be integrated with MasterCard’s network, enabling it to offer merchants and FIs access to Truaxis’ card-linked offers solution. Additionally, the deal will help Truaxis expand. According to CEO Schwark Satyavolu: “Being Read more…
DemystData, a company that helps FIs tap into the power of data, announced a Series A investment today. The investment, lead by Accion and Arbor Partners Asia, was for an undisclosed amount. The New York-based company plans to use the new funding to grow its team of engineers and data scientists to support a rising Read more…