Recently in Credit Karma Category

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  • WorkLight launches special program for enterprise mobile and ISV developers.
  • TRUSTe certifies miiCard's website to display the TRUSTe Web Privacy Seal.
  • Clifford Change law firm deploys Check Point software for a network security solution.
  • Bill.com helps banks offer business customers a more powerful payment, invoicing, and cash management platform.
  • SC Magazine considers ValidSoft's view of voice biometrics. Come see ValidSoft at FinovateEurope Feb. 7.
  • Huffington Post recommends Mint.com, HelloWallet, Credit Karma, TradeKing, ReadyForZero, & Betterment for college students.
  • Q2ebanking selects Matt Flake as new CEO.
  • Doxo looks back at 2011 achievements.
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.
  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgAGBeat highlights doxo's free cloud storage and bill pay.
  • Blogger Crystal Beasley analyzes the password selection process in Simple's interface.
  • The Arizona Republic recommends using CreditKarma to compare credit cards.
  • PandoDaily reports, "Wealthfront: The Antidote to the Wealth Management Zombies"
  • FiPath For Advisors (formerly eRollover) partners with social media monitor, Arkovi.
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.
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  • American Banker describes how T8 Webware, Micronotes, and FreeMonee predicts what customers will buy.
  • Seattle's King 5 News highlights Linkable Networks' digital coupons.
  • TechCrunch reports Credit Karma enrolls 100,000 users for its credit monitoring service in one day.
  • Business Insider recommends using BillGuard to prevent credit and debit card fraud.
  • BetaBeat looks at what LearnVest is doing with its $19 million round of funding.
  • TechCrunch reports John Donahue, Ebay CEO will serve as PayPal's interim president since PayPal President Scott Thompson left for Yahoo.
  • ProfitStars reaches milestone of providing image & data conversions for 1,000 FIs over the past 5 years.
  • Check Point Software Technologies works with Amazon Web Services secure the cloud.
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.
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Today, Credit Karma launched a free credit monitoring service for all U.S. consumers. The service will monitor a consumer's credit file on a daily basis and notify them of significant changes.

Here's how it works:

    • The consumer visits CreditKarma.com and begins the free, two-minute registration process.
    • Every day, Credit Karma monitors the consumer's credit report.
    • After a new credit inquiry, missed payment, or improved payment status hits the consumer's credit file, Credit Karma alerts the consumer via email.

Credit Karma is the first company to provide this service for free and existing Credit Karma members need only to opt-in to take advantage of the service.

To learn more about Credit Karma, watch its FinovateStartup09 demo.

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgRobotDough leaves GoDaddy due to SOPA support conflict.
  • Philly.com describes the Jemstep signup process.
  • Providence Business News reports Andera moves to a new office building.
  • eToro blog launches new column dedicated to analyzing the weekly activity on eToro OpenBook.
  • Forbes looks at Dwolla's payment revolution.
  • Ping Identity announces PingFederate is now available as an Amazon Machine Image on the Amazon Elastic Compute Cloud.
  • Credit Karma launches free credit monitoring service.
  • The Receivables Exchange announces strategic alliance with Insperity Investment.
  • Lending Club removes service fee on large loans.
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.
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  • Steven Kietz, former Mobile Money Ventures CEO, joins EDO Interactive as GM & EVP of Strategic Partnerships.
  • CNNMoney discusses how Simple can provide a no hassle bank account.
  • Melrose Mutual Insurance Company, Grinnell Mutual, & ID Theft 911 partner to remind shoppers to safeguard identities.
  • Forbes names Dwolla's Ben Milne to '30 Under 30' list for finance.
  • BizReport interviews Xero to discover how the cloud is helping small businesses.
  • Fox Business News recommends visiting Credit Sesame and Credit Karma to check your credit score.
  • INOVA FCU depicts its success from using Mortgagebot's PowerSite.
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.
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Credit Karma announced today that it has teamed up with Intuit to provide free credit scores to Intuit-powered financial institutions within their online banking platfom:

"With NorthCountry FCU as Credit Karma's first Intuit-powered partner, Credit Karma is certified to work with Intuit Financial Services clients to provide the Free Credit Score Service within the financial institution's branded environment. The Free Credit Score for Members Service gives consumers a monthly credit score and a suite of personalized credit management tools to better manage their credit."

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When signing in to Credit Karma via Intuit's Digital Insights online banking system, consumers will have the benefit of a single sign-on.

To learn more about Credit Karma and Intuit, watch Credit Karma's FinovateStartup09 demo and Intuit's Finovate 2009 demo.

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  • The Wall Street Journal lists Prosper, Lending Club, and Weemba as resources for home financing.
  • PayNearMe partners with iSend to simplify international gift giving this holiday season.
  • Doxo wins Red Herring Global 100.
  • Credit Karma and Intuit team up to provide credit services within FI-branded environments.
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.
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  • Credit Union National Association reports ProfitStars' service helps FIs support energy markets.
  • Lifehacker recommends visiting Credit Karma or Credit Sesame to view your credit score for free.
  • Computerworld takes you behind-the-scenes with MyCyberTwin's AI technology.
  • Kabbage joins the X.commerce Global Ecosystem.
  • ID Theft 911 chosen to offer data breach services to Safeonline LLP.
  • MyBankTracker explores how FeeFighters cuts payment processing fees for merchants.
  • Expensify lists growth figures.
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.
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NorthCountry FCU and A+ FCU members now have free access to Credit Karma's credit management tools on their online banking website:

"Through a member-centric approach, Credit Karma's service provides a monthly credit score and a suite of personalized credit management tools. The tools enable members to access their credit scores, easily digest information on credit scoring, empower informed financial decisions, and put their credit to work to get the best products for their credit profile."

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Credit Karma provides the same white-label service to over a dozen credit unions and also makes the tools available to the public at creditkarma.com. 

To learn more about Credit Karma, watch its FinovateStartup 2009 demo.

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgFox Business News recommends banking with Simple as a way to counter bank fees.
  • The Sacramento Bee reports SafetyPay expands to U.S. marketplace in the airline & travel payments industries.
  • GeekWire reports Lighter Capital awards undisclosed amount of cash to HireAHelper.
  • Barganeering looks at what sets Personal Capital apart from Mint.com.
  • Business Insider explores the differences between SecondMarket and SharesPost.
  • Sun Life partners with Kony on claims mobile app.
  • Weemba adds 3 financial institutions to its network of lenders.
  • Two credit unions deploy Credit Karma's tools on their online banking platforms.
  • GoalMine to launch holiday gift card trade-in service.
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.
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  • FamilySearch now using eWise's Secure Vault Payments Technology.
  • Business Insider recommends Credit Karma as a free way to learn your credit score.
  • Netbanker: WV United FCU offering both Square and Dwolla payments.
  • The Globe and Mail adds ticker content from StockTwits.
  • Brightscope holds off on adding yelp-like investor reviews in order to add a Q&A section to the site.
  • Wall Street Survivor launches affiliate program.
  • Williams-Sonoma works with CashStar to provide e-gift cards.
  • Lendio works with LegalZoom to bring legal resources to users.

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.
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  • Credit Karma correlates consumers' credit scores with their email domain name.
  • Fierce Finance IT looks to Cardlytics, BillShrink, Clovr Media, FMN Technologies & Segmint for transaction-driven marketing.
  • Credit Union Times shares Andera's stats from bank-transfer day.
  • GCS Federal Credit Union to offer Geezeo's online PFM tools.
  • CIBC selects Kony Solutions to develop and deploy CIBC's mobile brokerage app.
  • City AM lists eToro as a way to sell your trading homework.
  • Citywire money discusses P2P platforms Zopa, Prosper, and Lending Club.

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.
  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgNetbanker: Credit Karma Launches "Hands Free" Account Aggregation.
  • Kony and CIBC deliver new mobile brokerage application.
  • Backbase & Forrester Research to host free webinar Nov 9: 'Banks Need to Become SUPER.'
  • Everything PR lists BillGuard in the Money category of 2011′s Top 100 Best Startups for PRs.
  • eToro launches mobile HTML 5 App for social trading on the go.
  • SecureKey Technologies Inc. to power the Government of Canada's new online authentication service.
  • Malta Independent Online looks at Wesabe, Geezeo, and Budgettracker as key online money management tools.
  • BankSimple launches to the public, changes its name to Simple.
  • eToro launches iOS mobile app for on-the-go trading.

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.
Each month we survey the Web-traffic performance of Finovate alums using data from Web-analytics company Compete. 

Out of 268 alumni, 80 had more than 10,000 unique U.S. visitors in September 2011 and are included in the tables below. Of those, 33 (41%) had more visitors in September than August. Year-over-year, 42 (52%) had traffic increases.

Private Companies

  • Seeking Alpha and Cortera had the highest traffic in September with 2.1 and 2.0 million unique visitors, respectively. Cortera also had the highest increase in number of unique year-over-year visits with over 1.5 more visits in 2011 than in 2010.
  • Kabbage had the highest percentage growth year-over-year, up 280x.
  • Weemba saw the highest monthly growth percentage with more than 7.5 times the number of unique visitors in September compared to August.
  • SmartCredit.com had the highest increase in number of unique year-over-year visitors, growing by 126,000.
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Source: Compete.com retrieved the week of October 26, 2011

1) The previous month recorded was August 2011
2) Sears Credit Score is powered by CreditKarma.com
3) Truaxis was formerly BillShrink
4) Kasasa is powered by BancVue

Public companies

  • CheckFree had the highest percentage growth year-over-year, with over 7 times the number of visitors this year than last year.
  • Intuit had a notable increase in number of unique, year-over-year visitors, increasing by 300,000 visits.
  • Check Point had the highest month-over-month percent growth, with 41% more visitors in September than in August.
PublicWebTrafficSeptember2.jpgSource: Compete.com retrieved the week of October 26, 2011

1) The previous month recorded was July 2011.
_______________________________________________________
Notes:
1. We reviewed 268 Finovate alumni. Only those with at least 10,000 unique visitors in July are listed. 
3. NM = not measurable
4. t= tie
5. Compete estimates online visitors based on the activity of a panel of more than 2 million U.S. Internet users. It is only an estimate of traffic and may undercount at-work usage.
  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgCredit Karma is giving away free credit-monitoring service to first 12,500 readers.
  • HelloWallet opens a second office in San Francisco.
  • FreeMonee tells AOL Daily Finance that it is to launch a merchant-reward plan with a major U.S. bank on Nov 17.
  • Credit Union Times reports that mShift is one of the three largest providers of mobile banking tools to credit unions.
  • ABC News looks at BankSimple's alternative banking approach.
  • Auto insurance & finance providers The General, Mark One Holdings, &  Freeway Insurance add BillFloat as a payment option.
  • Continuity Control endorsed by Western Independent Bankers.
  • Expensify launches an app for the Windows phone.
  • Mlive.com recommends using BillShrink (Truaxis) to avoid an outrageous mobile bill.
  • Mint.com and Budgettracker.com are recommended as two tools for mitigating financial mistakes.
  • Bank of America will use Yodlee's FinApp Platform.
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.
Each month we survey the Web-traffic performance of Finovate alums using data from Web-analytics company Compete

Out of 268 alumni, 75 had more than 10,000 unique U.S. visitors in August 2011 and are included in the tables below. Of those, 41 (55%) had more visitors in August than July. Year-over-year, 45 (60%) had traffic increases.

Private Companies

  • Seeking Alpha -- the most-trafficked in August with 2.5 million unique visitors -- also had the highest increase in number of unique month-over-month visits with 300,000 more visits in August than in July.
  • Budgettracker.com saw the highest monthly growth percentage with more than 6.5 times the number of unique visitors in August compared to July.
  • Betterment had the highest percentage growth year-over-year, up 88x.
  • Cortera had the highest number of unique year-over-year visitors, growing by 1.5 million. 
August2011PrivateWebTraffic4.jpg
Source: Compete.com retrieved week of October 3, 2011
1) The previous month recorded was July 2011
2) Truaxis was formerly BillShrink
4) Kasasa is powered by BancVue
5) Checkingfinder.com is powered by BancVue

Public Companies

  • Fiserv had the highest month-over-month percent growth, with 50% more visitors.
  • CheckFree had the highest percentage growth year-over-year, with over 5 times the number of visitors.
  • S1 also had a high percentage growth year-over-year, doubling its visitors.
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Source: Compete.com retrieved the week of October 3, 2011
1) The previous month recorded was July 2011.
_______________________________________________________
Notes:
1. We reviewed 268 Finovate alumni. Only those with at least 10,000 unique visitors in July are listed. 
3. NM = Not measurable
4. t= Tie
5. Compete estimates online visitors based on the activity of a panel of more than 2 million U.S. Internet users. It is only an estimate of traffic and may undercount at-work usage.
  • Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgGCS Federal Credit Union selects Geezeo to provide PFM service.
  • T8 Webware presents Thinc Iowa Opening Party Oct. 20.
  • Clairmail wins BAI Mobile Pace Setter Award.
  • Silver Tail Systems is selected as a SINET 16 Innovator.
  • CarryQuote wins prestigious 2011 Bully Award.
  • Everything Finance Blog reviews Prosper.com.
  • Bank Innovation reports that Tyfone now allows banks to provide clients with mobile wallet solution.
  • Financial Edge lists the Credit Karma blog as 1 of 6 blogs to help you budget better.
  • T8 Webware signs 14 bank customers to its Grip Platform.
  • Lighter Capital CEO Andy Sack guest-posts about revenue-based financing on AVC blog.
  • Q2ebanking partners with Unwired Nation to expand its mobile banking.

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.
  • Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgMountain West Capital Network names Lendio fastest-growing company in Utah.
  • Business Insider recommends signing up for BillGuard if you're a victim of ID theft.
  • Firmology profiles Samurai by FeeFighters.
  • Truaxis wins the Innotribe Start-Up Challenge for StatementRewards Platform.
  • Kony names Sriram Ramanthan as Chief Technology Officer.
  • The Examiner advises using Credit Karma's Credit Simulator and reading LearnVest's blog to keep aware of money matters.
  • Dave Enjoys' blog highlights features of BankSimple.
  • Credit Karma's CEO Ken Lin reports What Banks and Lenders Know About You From Social Media on Mashable.
  • KAPITALL launches interactive news site KAPITALL WIRE.

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.
creditkarmalogo.jpgUsing data collected from 5+ million credit cards it tracks, Credit Karma recently released a new feature called Credit Card Statistics. It can be used by consumers, or banks, to compare the customer attributes of various cards or card issuers. 

The following portfolio metrics are available:

    • Credit-score distribution (see example below)
    • Average credit-limit distribution
    • Average balance distribution
    • Credit limit-utilized distribution
    • Age-of-cardholder distribution
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It also provides a Yelp-like platform where clients can write and read reviews about the credit card.

To learn more about Credit Karma, watch its FinovateStartup 2009 demo.
  • 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.
Each month we survey the Web-traffic performance of Finovate alums using data from Web-analytics company Compete

Out of 255 alumni, 59 (23%) had more than 10,000 unique U.S. visitors in July 2011 (see tables below). Of those, 19 (32%) had more visitors than in the previous month and 25 (42%) were flat. Year-over-year, 26 (44%) had an increase, 10 (17%) were flat, and 23 (39%) were down. 

Private Companies
Notable successes:
  • Seeking Alpha had the most traffic in July with more than 2 million unique visitors.
  • eToro saw the highest monthly growth percentage with 3 times the number of unique visitors in July compared to June.
  • Bundle had the highest increase in number of unique month-over-month visits, with 450,000 more visitors in July than in June.
  • eRollover had the highest percent year-over-year traffic increase, with 260,000 more visitors from last July. 
JulyWebTrafficPrivate6.jpg
Source: Compete.com retrieved week of August 15, 2011
1. The previous month recorded was May 2011
2. Sears Credit Score is powered by CreditKarma.com
3. Kasasa is powered by BancVue

Public Companies
Notable successes:
  • PayPal had the highest number of U.S. visitors in July, with more than 30 million visitors.
  • Jack Henry & Associates saw the highest monthly growth with twice as many visitors in July than June.
  • Wipro Technologies had the highest year-over-year growth, with 3 times as many visitors this year compared to last year.
  • FIS Global and Online Resources also doubled their traffic compared to last year. 

JulyWebTrafficPublic4.jpg
Source: Compete.com retrieved the week of August 15, 2011
1. The previous month recorded was May 2011.
_______________________________________________________
Notes:
1. We reviewed 255 Finovate alumni. Only those with at least 10,000 unique visitors in July are listed. 
3. NM = Not measurable
4. Compete estimates online visitors based on the activity of a panel of more than 2 million U.S. Internet users. It is only an estimate of traffic and may undercount at-work usage.

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ChargeSmart 
AOL's Daily Finance highlighted Chargesmart's secondary gift card market that allows 
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consumers to pay for bills in exchange for gift cards. Link

CheckFree 
Family Wealth Report stated that CheckFree is leading the way in UMA processing. Link

Credit Karma 
  • CBS Money Watch discussed Credit Karma's data on America's debt. Link
  • Fox Business News listed Credit Karma's credit score simulator tool as a 15-minute fix for your credit score. Link
doxo 
Practical Ecommerce listed doxo as one of 17 apps for productivity. Link

Dwolla  
  • Dwolla hit $1 million in payments per day and Ben Milne, CEO, shared a sneak peak of future plans. Link
  • Ace Community Credit Union provided customers with access to Dwolla through its site.
  • Dwolla CEO Ben Milne explained why starting a business in Iowa isn't hard. Link
  • Dwolla introduced a new Autoload feature. Link
  • Dwolla was listed on The Next Web as one of eight awesome ways to pay with your phone. Link
eToro 
eToro Partners began testing a new foreign exchange affiliate tool called Custom Links. Link

Expensify 
  • The Info.rmatics blog testified to Expensify's ease of use. Link
  • ipCommerce showcased Expensify's innovation. Link
GoalMine 
GoalMine.jpg
Mango Money added GoalMine to its list of services. Link

HelpMyCash 
HelpMyCash revamped its website to be more consumer-friendly. Link

IDTheft 911
Barnstable County Mutual Insurance Company selected Identity Theft 911 for its LifeStages service. Link

iPay Technologies 
TechCrunch reported that Bill Ready, former President of iPay Technologies, joined Accel Partners as an Executive in Residence. Link

Lending Club 
  • ATM Options discussed seven good reasons to invest through Lending Club. Link
  • Netbanker discussed Lending Club's record high growth. Link
Lendio 
  • Lendio added TAB Bank to its network of lenders. Link
  • Reuters reported that Swift Capital and Lendio partnered to help small businesses. Link
mFoundry 
mfoundry.jpg
  • American Banker considered Bank of America's recent investment in mFoundry. Link
  • Credit Union Journal discussed Colombia Credit Union's adoption of mFoundry's mobile banking. Link
Mint.com
  • Mint.com introduced a manual transactions feature for its iPhone app. Link
  • TechCrunch reported Mint.com's debut of a new feature that tracks bills and sends reminders. Link
Monitise 
  • Monitise signed over 6,000 users in Nigeria to a mobile payments trial. Link
  • TechMarketView discussed Monitise's financial success. Link
peerTransfer 
Yahoo! Finance reported peerTransfer's growth in international student payment processing. Link

Prosper 
  • Netbanker discussed Prosper's record high growth. Link
  • Prosper raised its interest rates by 2.5 percent. Link
SmartyPig 
SmartyPig introduced its back-to-school cash giveaway contest. Link

ThreatMetrix 
ThreatMetrix announced its upcoming user conference October 9th through 10th. Link

TradeKing 
TradeKing launched a new video series to help consumers understand options trading. Link

Tyfone 
tyfone.jpg
Oregonlive.com described Tyfone as a major player in mobile payments. Link

Wikinvest 
Forex Promos shared an interview with Mike Sha, Wikinvest CEO. Link

Xero 
Reuters reported that Xero agreed to acquire Paycycle, a payroll company. Link

Zecco 
Wealth Building Tips and Strategies blog shared Zecco's options trading video series. Link

ZimpleMoney 
ZimpleMoney adjusted its services in response to the Dodd-Frank reform. Link

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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
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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
BillGuard
TechCrunch reported that BillGuard's "Anti-virus for Bills" is now completely free for users. Link

BrightScope
CNNMoney's article, Simplify Your Retirement Savings, pointed to BrightScope to provide a clear understanding of retirement savings. Link

ChargeSmart
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

Cortera
cortera.jpg
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

Currensee
The Business Insider reported that Currensee plans to launch its Trade Leaders program in China. Link

Dwolla
  • 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
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

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

Mitek
mitek.jpg
MSN Money reported that Mitek Systems began a NASDAQ market listing on July 14th, and is trading under the symbol MITK. Link

Monitise 
  • 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
Prosper
  • 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
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 Times. 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
TradeKing announced the public availability of its API. Link

Tyfone 
CoVantage Credit Union chose to implement Tyfone's mobile wallet solution. Link

Zopa 
  • 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

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Boku
Boku.jpg
CNNMoney examined Zong's competition with Boku. Link

BrightScope
  • The Forbes blog recommended BrightScope as a tool to check your financial advisor's history. Link
  • The Washington Examiner discussed how BrightScope helps consumers make informed decisions about their 401(k) plan. Link

Clairmail
Clairmail increased its security by using authentication from the RSA Secured Partner Program. Link

Credit Karma
The Forbes blog recommended Credit Karma as a tool to track and monitor your credit score. Link

Credit Sesame
Credit Sesame.jpg
The Forbes blog recommended Credit Sesame as a tool to track and monitor your credit score. Link

Dwolla
Dwolla updated its iPhone app to allow customers to send money via email. Link

Dynamics
American Banker discussed Dynamics' adaptability to the mobile payment world. Link

Enloop
Small Biz Technology outlined three of Enloop's features. Link

eToro
AlphaTrade Finance discussed eToro's CopyTrader network. Link

Expensify
Expensify's app was listed as Gearburn's App of the WeekLink

Finsphere
finsphere.jpg
GeekWire reviewed Finsphere's new round of $1.75 million funding. Link

Geezeo
American Banker reported that Geezeo's partnership with Sharetec Systems will help Geezeo reach more credit unions. Link

Guardian Analytics
The Street reported that Guardian Analytics' Anomaly Detection & Fraud Monitoring will help financial institutions meet updated FFIEC guidelines. Link

Kony Solutions
Kony Solutions announced a partnership with Donriver for the delivery of multi-channel mobile apps. Link

Mint.com
The Quickbooks blog examined Mint.com's PFM tool. Link

Monitise Americas
monitise.jpg
Monitise developed two banking apps designed for the iPad for NatWest and RBS. Link

PayNearMe
The Paypers interviewed Avangate and PayNearMe regarding their partnership and various future endeavors. Link

PayPal
TechCrunch speculated that eBay's acquisition of Zong  will advance PayPal's mobile payments. Link

ProfitStars
Credit Union Times discussed ProfitStars' partnership with Corporate One Credit Union. Link

Prosper
The Social Lending Network reviewed Prosper's new Quick Invest feature. Link

Q2ebanking
q2ebanking.jpg
Q2ebanking commented on the security implications of the new FFIEC guidelines. Link

RobotDough
The Motley Fool highlighted RobotDough as a powerful new tool for individual investors. Link

SilverTail Systems
  • Credit Union Times reported that SilverTail Systems' capabilities enable financial institutions to comply with FFIEC guidelines. Link
  • Homeland Security Television profiled SilverTail Systems. Link

ThreatMetrix
ThreatMetrix enhanced its security in anticipation of FFIEC guidelines. Link

TradeKing
Stockbrokers4u.com analyzed TradeKing's services. Link

Xero
Xero hired a CFO onto to its team. Link
yodlee.jpg

Yodlee
  • Yodlee released its new MoneyCenter app. Link
  • Quickbooks' blog examined Yodlee's PFM tool. Link
  • TechCrunch reported that Yodlee reached 30M users. Link

Each month we survey the Web-traffic performance of our alums, using data from Web-analytics company Compete to review the sites they operate. 

Out of 255 alumni, 62 (24%) had more than 10,000 unique U.S. visitors in May 2011 (see tables below). Of the 62 reviewed, 25 (40%) had fewer visitors than in the previous month and 28 (45%) saw a decline year-over-year.

Private Companies
The 44 private companies are as follows:

Notable successes:

  • Cortera saw the highest number of unique U.S. visitors in May, with almost 2 million hits.
  • HelloWallet experienced the greatest month-over-month growth, with more than four times as many visitors.
  • Betterment saw its traffic increase an impressive 38 times from May of last year.

Private Finovate Alumni With More Than 10,000 Unique Visitors in May 2011

Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for May2011PrivateWebTraffic.jpg






Source: Compete.com retrieved June 29, 2011

Public Companies
The 18 public companies are as follows:

Notable successes:

  • PayPal experienced the highest number of U.S. visitors in May, with over 32 million visitors.
  • TransUnion Interactive saw the highest month-over-month growth with more than two times the number of visitors in May than in April.
  • Sybase 365 experienced the highest year-over-year growth, with its traffic up almost 80% from last year.

Public Finovate Alumni With More Than 10,000 Unique Visitors in May 2011 

May2011PublicWebTraffic.jpg

Source: Compete.com retrieved June 29, 2011

_____________________________________________________________________________

Notes:

1. We reviewed 255 unique sites. Data was unavailable or irrelevant for 201 sites because: 

  • They had been acquired.
  • They were no longer available online.
  • They were not covered by Compete for various reasons (including some that were not U.S. domestic companies).
  • The number of unique visits was too small to be considered accurate.
  • They were subdomains of larger websites.

2. Numbers have been rounded to three significant digits.

3. The charts include companies that did not have measurable traffic in May 2011, indicated by "N/A."

4. Compete draws its information from the online activity of a panel of more than 2 million U.S. Internet users. It is only an estimate of traffic, and may undercount at-work usage.

AlumNewsIMG.jpg
ActivePath
A top Brazilian card issuer implemented an ActivePath solution. Link

AlphaClone
AlphaClone incorporated new sentiment scores into its stock view pages. Link

Bills.com
Bills.com released the results from its Consumer Money Survey that gauges money attitudes and behaviors. Link
BlazeMobile.jpg

Blaze Mobile
Blaze Mobile was awarded a patent for NFC on stickers. Link

BOKU
BOKU released 1-Tap Mobile Billing for the Android and took it live in 56 countries. Link

Braintree
Braintree received $34M in Series A funding from Accel. Link

Currensee
Currensee.jpg
Reuters outlined the benefits of Currensee. Link

Credit Karma
Credit Karma CEO Ken Lin advised consumers how they should deal with credit card offers. Link

doxo 
doxo won the Stevie Award for New Product of the Year for financial services in the 2011 American Business Awards. Link

Dwolla
Dwolla said its Grid payment network is more secure than Visa and MasterCard's card networks. Link

Dynamics
Dynamics raised $35M for computerized smartcards and payment systems. Link

eToro
etoro.jpg
Reuters outlined the benefits of eToro. Link

eWise
gotoBilling, Inc. added eWise's Secure Vault Payments as another payment platform. Link

Expensify
The Wall Street Journal listed Expensify as a must-have mobile tech tool for entrepreneurs. Link

Fiserv
Fiserv entered into an agreement to acquire CashEdge for $465 million to advance its digital payments and channel strategies. Link

Guardian Analytics
GuardianAnalytics.jpg
Yahoo! Finance reported that Guardian Analytics' FraudMAP is helping financial institutions meet FFIEC guidelines. Link

HelloWallet
HelloWallet was added to Mercer's Outsourcing business benefits administration. Link

Intuit
Intuit purchased Mobile Money Ventures' web banking technology to augment its mobile banking capabilities. Link

Kony Solutions
KonySolutions.jpg
The American Business Awards selected Kony Solutions as the Most Innovative Company of the YearLink

Lendio
The Launch blog highlighted Lendio. Link

Outright
Outright rolled out a new report function allowing clients to view sales by state. Link

PayPal
PayPal reached 100 million active users. Link

Profit Stars
Profit Stars introduced its new Remote Deposit Anywhere solution. Link

Prosper
  • Former Lending Club director Joseph Toms joined Prosper as its Chief Investment Officer. Link
  • The San Francisco Times reported on Prosper's growth. Link

Q2ebanking
q2ebanking.jpg
Q2ebanking was noted as a service to help community financial institutions meet FFIEC Guidance. Link

SimpleTuition
SimpleTuition expanded its student loan payment options by partnering with Discover Card. Link

SmartyPig
SmartyPig was recommended by Mint.com as a way to save for impulse purchases. Link

TradeKing
TradeKing implemented SunGard's MarketMap to deliver market data to its active trading platform. Link

UBank
Mashable highlighted UBank's feedback forum. Link

Voice Commerce
Voice Commerce launched a payment solution for the iPhone. Link

Wikinvest
wikinvest.jpg
PC mag reviewed Wikinvest's mobile app. Link

Xero
Tech Day assessed Xero's Debtor Daddy service. Link

Credit Karma, founded in May 2007, provides free ad-supported access to consumer credit reports. Based on website traffic, it is one of the most popular companies to demo at Finovate (see previous coverage). The company has closed in on the million-visitor mark several times this year (see chart below).  

Web Traffic: 
(Retrieved June 23, 2011 from compete.com) 
WebTraffic.jpg

Number of Employees: 22

Headquarters: San Francisco, CA

Market Position: Credit score provider

Value Proposition: Credit Karma uses targeted advertisements to offset the cost of purchasing credit information from TransUnion. The company also provides tools and calculators to help understand and predict credit score changes. 

Revenue in 2010: Over $3 million

Timeline:
Timeline.jpg

The User Experience:
1) Create a user profile with email and a password. 
ProfilePage.jpg

2) Provide personal information to retrieve your credit information.
Account info Page.jpg

3) Confirm your identity. 

4) View your credit score, learn how it was calculated, and see how it compares to others.
Credit Score.jpg
5) Use Credit Karma's tools to see how future events, such as applying for a new credit card, will impact your credit score.
Manipulator tool.jpg

6) Credit Karma provides recommendations from advertisers based on your credit score. A
Endorsements.jpg
 high credit score might yield a credit card offer similar to the Chase offer to the right, whereas another might trigger an auto loan offer.

Recently, Credit Karma announced a new service called Approval Odds, which is a free feature that aims to help consumers avoid being declined for a credit card.

To see a live demo of this service from FinovateStartup 2009, check it out here.

AlumNewsIMG.jpg
AlphaClone
AlphaClone launched a new feature that measures sentiment. Link

BillFLO
Taulia acquired BillFLO. Link

Bills.com
Bills.com.jpg
Bills.com shared money-saving strategies for recent college graduates. Link

BrightScope
BrightScope was highlighted on the Tuscon NBC news channel series, "4 Your Money." Link

CashEdge
Ally Bank began offering CashEdge's Popmoney service. Link

Continuity Control
ContinuityControl.jpg
LEVERAGE, the Service Corporation for the League of Southeastern Credit Unions, began offering Continuity Control's CreditUnion Assistant program. Link

CreditKarma
Credit Karma introduced its Approval Odds service to help avoid being declined for a card. Link

Currensee
Currensee reached $6 billion in trading volume and $12 million under management. Link

doxo
The MakeUseOf blog reviewed doxo's online filing cabinet. Link

Dwolla
  • Dwolla CEO commented on the Bitcoin virtual currency debate, exchange, and hysteria.  Link
  • Dwolla's fees were compared to PayPal's. Link
  • Silicon Prairie News discussed Dwolla CEO's comments on Bitcoin. Link
eWise
eWise Payo's smartphone app won the Editor's Award for Consumer Focus at the 2011 Cards International Awards. Link

Expensify
Expensify.jpg
  • The Dallas News highlighted Expensify. Link
  • Expensify was listed as one of 25 tools to help you manage spending by cmvlive.com Link
HelloWallet
HelloWallet posted a short video series explaining its wealth-tracking service. Link

Jwaala
Jwallaa.jpg
KEMBA Financial Credit Union implemented Jwaala's platform. Link

Lending Club
  • Lending Club is approaching its financial breakeven point. Link
  • Reuters commented on Lending Club's P2P marketplace. Link
Lendio
Lendio helped banks increase business loans by finding qualified borrowers. Link

Mortgagebot
mortgagebot.jpg
Mortgagebot and Business Solutions extended their Tech Alliance to provide mortgage application solutions at preferred terms. Link

PayNearMe
PayNearMe facilitated 7-Eleven's partnership with Greyhound for cash transactions. Link

Prosper
Reuters commented on Prosper's P2P marketplace. Link

Receivables Exchange
Receivables exchange.jpg
The Receivables Exchange won 2011 "Management Team of the Year" at the Stevie Awards. Link

Strands
Strands Personal Finance landed in the 2011 Red Herring Top 100 North America list. Link

TradeKing
TradeKing announced its free webinar series on trading advice beginning July 12th. Link

Voice Commerce
VoiceCommerce.jpg
Voice Commerce launched its CashFlows app. Link

Xero
Getapp.com reviewed Xero's cloud-based software. Link

Thumbnail image for Finovate_Alumni_news.jpg

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

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

Betterment

Thumbnail image for Thumbnail image for Betterment.jpg
  • Betterment announced a growth of over $10M under management and over 4000 customers in first year Link
  • Betterment celebrated its first birthday Link

Bill.com
Bill.com is working to improve its mobile offering for small and midsized businesses Link

Boku
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

doxo.jpg
  • 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

  • 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

Expensify
Slate explained how Expensify will help the 'frequent flier' Link

Kabbage.jpg

Kabbage
Technorati described how Kabbage works with eBay Link

Lending Club

  • Mint.com'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

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

Lendio
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

lodo.jpg

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

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

PayDivvy
2MinuteFinanced interviewed PayDivvy about its services Link

paydivvy.jpg

PayNearMe
BillShrink examined PayNearMe's cash payment service Link

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

Thumbnail image for ProfitStars.jpg

ProfitStars
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

SecondMarket

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

ThreatMetrix
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.jpg

TradeKing
TradeKing divulged the lineup of its free webinars in June Link

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

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

Wonga

  • 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

Xero

Thumbnail image for Thumbnail image for Thumbnail image for xero.jpg
  • 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

Zecco

  • 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
Zopa shows how it helps consumers protect against inflation Link

On April 27, Prosper gave 200 new lenders $104 to get started. The company is celebrating the news that prosper lenders are averaging 10.4% returns. http://bit.ly/finovate426111

American Banker on Yodlee and Geezeo growth in the PFM market. Yodlee grows French market, and Geezeo signs more credit unions. http://bit.ly/finovate429111

Author Jean Chatzky opens her Debt Diet Challenge to 5 Credit.com readers who are in debt. http://bit.ly/lDmZ54

Bank Innovations highlights six companies as noteworthy to see at Finovate Spring on May 10th & 11th in San Francisco. http://bit.ly/kqBr39

Bill.com releases site upgrade. The upgrade, made over the Easter weekend, includes improved calendar, a revised mobile application, receivables managements and online payments and more. http://bit.ly/finovate427113

BrightScope featured on TechCrunch. The post highlights BrightScope's launch of advisor pages. http://tcrn.ch/finovate426113

Capital Access Network awarded prestigious award. The company won the 2011 Monarch Innovation Award from Barlow Research Associates. http://bit.ly/finovate425113

CashEdge's Small Business Survey finds that small businesses want electronic payment solutions. http://bit.ly/kmC1lM

Consumer Reports integrates BillShrink's recommendations into reviews. BillShrink has similar affiliate relationships with Walmart.com and T-Mobile. http://tcrn.ch/finovate426112

Credit Karma releases Credit Score Climate Report stating credit scores fell two points in the Q1 2011. http://mwne.ws/lnXZn7

Currensee makes Lead411's Hottest Boston Tech Companies list second year in a row. See them at Finovate Spring. http://bit.ly/lmrLNK

H&R Block names former eBay exec as new CEO. http://buswk.co/ipszZa

Mengia signs with Icelandic banks, Arion and Landsbanki. Mengia will provide PFM services to both banks, which will provide 90% of Icelandic banking customers with access to an integrated PFM platform. http://bit.ly/finovate427112

Monitise launches Hong Kong mobile service with JETCO, which will help it break into the Asia Pacific market. http://bit.ly/kEEcCP

Stock Twits names Francisc Costello chief operating officer.  http://bit.ly/finovate429114

Tile Financial releases the "Spend Grow Give" app. Now available free in the App Store. http://bit.ly/finovate425111

USA Today covers BrightScope's new tool for choosing the right financial adviser & informs what attributes to look for. http://usat.ly/msrb7l

Wescom Resources Group offers Geezeo PFM to clients. Wescom will be rolling out Geezeo as a complement to the Credit Union's existing online banking platform. http://bit.ly/finovate425112

Xero releases Xero Touch, its new app built on HTML5 that will run on iPhone, Android, Windows7 and Blackberry. http://bit.ly/eLPrdA

Yodlee holds a mobile banking webinar on May 3. Attendance is free. Details online at  http://bit.ly/finovate427111

Alumni News -- Week of January 2, 2011

To see updates on Finovate alumni companies follow our live feed on Twitter

Finovate alums Blippy and Expensify land on Robert Scoble's list of 25 startups to watch for 2011. http://scoble.it/finovate13114

Credit Karma now offers free insurance scoring tools in addition to free credit scores. http://bit.ly/finovate13113

Expensify launches iPhone/iPod app version 2.6. - The upgrade includes support for 100 currencies. http://bit.ly/finovate14114

Lending Club mentioned in CNN Living - Borrowing from the family bank? http://bit.ly/finovate13112

Prosper alters the way its loan prices are set, switches to preset loan rates based on risk profile. http://bit.ly/finovate14113

From PayPal X Conference: Bill.com uses PayPal business payments to transform how businesses get paid. http://bit.ly/finovate10273 and gets a makeover. http://bit.ly/finovate10255

From PayPal X Conference: Bling Nation launches "FanConnect" platform. FanConnect helps consumers and businesses to connect at checkout via social media platforms like Facebook. http://bit.ly/finovate10272

Blippy and Sephora work together to spread the word about cosmetic products via Twitter. See TechCrunch's story. http://tcrn.ch/finovate10271

Continuity Control and uMonitor partner for compliance automation. http://bit.ly/finovate11334


Dynamics Inc. is profiled in "the future of credit cards" in the New York Times. http://j.mp/finovate102510

From PayPal X Conference: Expensify announces support for expense reimbursement via PayPal. See a demonstration: http://bit.ly/finovate1142.

How Finsphere is helping to prevent identity theft with geo-location and mobile check-ins. http://rww.to/finovate10281

Ixaris partners with Apigee to create payment application development API platform.  -- The new platform will be named Ixaris Opn (pronounced "open"). http://bit.ly/finovate1121

From PayPal X Conference: More on Kabbage's service to provide working capital for eBay Sellers. http://bit.ly/finovate10276

Lending Club welcomes North Carolina and Kansas. Peer-to-peer personal loans are now available in 42 states. http://bit.ly/finovate1141

Mint.com launches MintData to delve into the spending habits of Mint's 4 million users. The data is anonymous and provides insight into the pocketbooks of customers in 300 U.S. cities. http://tcrn.ch/finovate1122

From PayPal X Conference: Outright.com launches free accounting app in PayPal apps marketplace. http://bit.ly/finovate10274

Citi takes CashEdge's Popmoney Service live. FinVentures breaks it down. http://bit.ly/finovate1123

The Receivables Exchange Co-Founder and CEO Justin Brownhill was named one of  Silicon Alley Insider's "Silicon Alley 100." The list covers New York's "Coolest Tech People in 2010." http://bit.ly/finovate11335

SafetyPay pioneers new ways to provide micropayments in the gaming industry. http://bit.ly/finovate10277
creditkarmalogo.jpg
Since Credit Karma first demonstrated its unique credit-monitoring service at Finovate Fall 2008 (video) and Finovate Spring 2009 (video), many changes have taken hold at the company. 

New features
  • June 2009: Financial advice center, which allows members to share experiences and questions with one another (see image 1). 
creditkarmaadvice.jpg
  • September 2009: a white-label platform currently in use by Sears/KMart among others (see  Netbanker article) provides even more consumers with free credit-score information. 
  • February 2010: launches a free service that allows members to view how much they could save by refinancing their existing loan products (see our earlier post). The service works by evaluating the information on the user's credit report and credit score. It runs in real-time, encouraging users to frequently return not only to check their score, but also their financial options (see image 2).
creditkarmaimage2.jpgFuture plans
According to Credit Karma, members continue to be frustrated by misleading credit-monitoring services and hard-to-understand financial products. "Our goal is to address each of these needs as we continue to build out the product," said Nichole Mustard, Credit Karma's VP of strategy. "In the near term, we'll be launching more user-submitted areas that allow members to critique and review financial products. In the mid-term, we'll expand our educational features to help more people understand credit scores and the financial services sector." 

What they are doing must be working. The company has doubled in size since spring 2009 and anticipates doubling again by year end. Credit Karma has 1.5 million members and is adding more than 100,000 each month. According to Compete, Credit Karma has more than 380,000 unique visitors per month (see chart below). 
creditKarmatraffic.jpg

The company has received $3 million in funding since founding in May 2007, including $2.5 million in series B funding in fall 2009 (source). 

Each month we survey the Web-traffic performance of our alums, using data from Web-analytics company Compete to review the 132 sites they operate. (Our review for the previous month is available here.)

Out of 105 sites with data available (see note 1), 44 (42%) had more than 10,000 unique U.S. visitors in March 2010 (see table #1, below), up from 42 last month. Of the 105, only seven (7%) had fewer visitors than in the previous month and 25 (24%) saw a decline year-over-year.

Notable successes:

  • Mint saw the most unique U.S. visitors in March, with more than 1.6 million hits.
  • Expensify saw impressive month-over-month growth, with more than three times as many visitors.
  • BillShrink and Credit Karma (including its Sears site) both saw traffic double year over year.

While the top six positions remained unchanged between January and February, March brought several changes. Previous monthly leader FiLife has dropped to number five, being replaced at the top by Mint. BillShrink joined the top five for the first time this year, rising from seventh to fourth. Motley Fool CAPS and Digital Insight both rose on the list, while Credit.com and Credit Karma fell one place.

#1. Finovate alumni with more than 10,000 unique U.S. visitors in March 2010

Rank

Previous rank

Company

Unique visitors: March 2010

Unique visitors: March 2009

Change over previous year

Unique visitors: Feb. 2010

Change over previous month

1

2

Mint

1,610,000

1,040,000

55%

1,110,000

45%

2

3

Motley Fool CAPS

837,000

1,290,000

(35%)

769,000

9%

3

4

Digital Insight (Intuit)

580,000

801,000

(28%)

576,000

1%

4

7

BillShrink

479,000

204,000

2.4x

239,000

2.0x

5

1

FiLife (DowJones/IAC)

463,000

336,000

38%

1,530,000

(70%)

6

5

Credit.com

353,000

428,000

(18%)

344,000

3%

7

6

Credit Karma

346,000

207,000

67%

335,000

3%

8

12

Billeo

175,000

202,000

(13%)

101,000

73%

9

8

CashEdge

170,000

345,000

(51%)

162,000

5%

10

11

SimpleTuition

169,000

153,000

10%

133,000

27%

11

9

Prosper

149,000

793,000

(81%)

145,000

3%

12

13

Strands

112,000

34,500

3.3x

97,400

15%

13

19

TradeKing

107,000

115,000

(7%)

78,800

36%

14

14

Outright.com

107,000

49,300

2.2x

96,600

11%

15

15

Andera

104,000

140,000

(26%)

92,800

12%

16

16

Zecco

102,000

123,000

(17%)

89,500

14%

17

18

Quicken Online (Intuit)

101,000

433,000

(77%)

82,800

22%

18

10

Sears Credit Score (Credit Karma)

92,300

N/A

N/A

139,000

(34%)

19

17

Lending Club

89,900

109,000

(18%)

85,700

5%

20

21

Yodlee

81,300

121,000

(33%)

51,100

59%

21

20

Fiserv

66,600

60,100

11%

66,000

1%

22

35

Expensify

63,300

11,200

5.7x

17,800

3.6x

23

25

Sybase 365

54,100

40,700

33%

37,000

46%

24

22

CheckingFinder

50,000

65,600

(24%)

45,800

9%

25

27

SmartyPig

44,400

86,400

(49%)

25,200

76%

26

30

MoneyAisle (NeoSaej)

37,400

66,900

(44%)

22,000

70%

27

23

TrustedID

34,800

55,200

(37%)

45,200

(23%)

28

33

Check Point

32,800

31,300

5%

19,300

70%

29

27

Wesabe

32,500

124,000

(74%)

25,400

28%

30

41

SecondMarket

31,700

4,300

7.4x

11,300

2.8x

31

24

CheckFree

31,500

N/A

N/A

39,600

(20%)

32

34

BrightScope

30,900

14,000

2.2x

19,200

61%

33

36

SocialPicks

27,200

20,100

35%

17,200

58%

34

37

Infosys

24,600

25,400

(3%)

16,500

49%

35

38

CircleUp

21,200

29,400

(28%)

15,000

41%

36

29

Centrro

19,100

51,500

(63%)

22,900

(17%)

37

39

Online Resources

19,100

61,900

(69%)

14,600

31%

38

32

Fidelity National Information Services

17,700

N/A

N/A

20,400

(13%)

39

40

Expensr (Money Strands)

17,500

9,960

76%

13,600

29%

40

43

S1 Enterprise

16,500

6,500

2.5x

7,620

2.2x

41

31

kaChing

15,500

15,800

(2%)

21,100

(27%)

42

45

WeSeed

12,800

56,900

(78%)

7,470

71%

43

59

Rudder

10,500

17,400

(40%)

4,230

2.5x

44

44

Thrive (Lending Tree)

10,100

20,300

(50%)

7,500

35%

Totals:

44 Companies

6,950,000

7,780,000

(11%)

6,800,000

2%

Source: Compete.com, April 15, 2010

#2. Finovate alumni with year-over-year growth of at least 5,000 U.S. visitors

Rank

Company

Unique visitors: March 2010

Unique visitors: March 2009

Increase in number of visitors

Change

1

Mint

1,610,000

1,040,000

570,000

55%

2

BillShrink

479,000

204,000

275,000

2.4x

3

Credit Karma

346,000

207,000

139,000

67%

4

FiLife (DowJones/IAC)

463,000

336,000

127,000

38%

5

Sears Credit Score

92,300

N/A

92,300

N/A

6

Strands

112,000

34,500

77,500

3.3x

7

Outright.com

107,000

49,300

57,700

2.2x

8

Expensify

63,300

11,200

52,100

5.7x

9

SecondMarket

31,700

4,300

27,400

7.4x

10

BrightScope

30,900

14,000

16,900

2.2x

11

SimpleTuition

169,000

153,000

16,000

10%

12

Sybase 365

54,100

40,700

13,400

33%

13

S1 Enterprise

16,500

6,500

10,000

2.5x

14

BancVue (Kasasa)

8,780

N/A

8,780

N/A

15

Expensr (Money Strands)

17,500

9,960

7,540

76%

16

SocialPicks

27,200

20,100

7,100

35%

17

Refinance.com (Home-Account)

7,500

820

6,680

9.2x

18

Portfolio Monkey

7,930

1,380

6,550

5.8x

19

Fiserv

66,600

60,100

6,500

11%

20

The Receivables Exchange

9,150

3,000

6,150

3.0x

Source: Compete.com, April 15, 2010

Notes:

1. We reviewed 132 unique sites. Data was unavailable for 27 sites because they had been acquired, were no longer available online, or had active sites that were not covered by Compete for various reasons, including some that were not U.S. domestic companies.

2. At larger companies we tried to measure traffic to the sub-domain most closely aligned with the Finovate demo, e.g., www.checkfree.fiserv.com. Also, searscreditscore.com, a private-label site supported by Credit Karma, and Money Island, a new BancVue site, have been added to the list.

3. Numbers have been rounded to three significant digits.

4. The charts include companies that did not have measurable traffic in February 2009, indicated by a N/A.

5. Compete draws its information from the online activity of a panel of more than 2 million U.S. Internet users. It is only an estimate of traffic, and may undercount at-work usage.

Alumni News – Week of March 8

Here are the news headlines we posted this week on Twitter (follow it here).

AlphaClone to Launch Investment Accounts -- Investment research firm AlphaClone announced that it plans to offer managed account services later this year. http://bit.ly/ayOI5t

BrightScope Partners with Acceleration Retirement -- BrightScope announced a partnership with Acceleration Retirement, a provider of marketing and lead-generation services to retirement plan advisors. The deal combines BrightScope's data and analytical tools with Acceleration's marketing and practice-management experience. http://bit.ly/c780Zs

CashEdge to Support HelloWallet -- CashEdge will provide financial data aggregation for new PFM website HelloWallet. CashEdge draws data from bank accounts, investments, retirement accounts, insurance plans, credit cards, mortgages and annuities. http://bit.ly/9xjRqD (Netbanker coverage of HelloWallet here.)

Check Point Wins Award from SC Magazine -- Security software firm Check Point was recognized with a Reader Trust Award from SC Magazine for its Security Gateway R7, which took the award for Best Enterprise Firewall. This is the sixth time SC Magazine has given Check Point an award for achievement in information technology and security. http://bit.ly/doRu4B

Expensify Offers App on Google Apps Marketplace -- Expensify announced that its small-business expense management app is now available on Google Apps Marketplace, Google's recently launched storefront for online products and services. The Expensify app enables users to import expense data from their credit cards, manage receipts online, and create expense reports. http://bit.ly/cYjDLq

Four Finovate Alumni in Panel Discussion at SXSW - Credit Karma, Lending Club, Mint, and SmartyPig will discuss banking industry innovation at the SXSW conference on March 13 in Austin, Texas. The panel discussion will include Rob Garcia, Senior Director of Product Strategy for LendingClub.com; Aaron Forth, VP of Product at Mint.com; Kenneth Lin, CEO of CreditKarma.com; and Bob Weinschenk CEO of SmartyPig.com. http://bit.ly/dbuYuR

GreenSherpa Upgrades -- GreenSherpa announced several upgrades to its web-based application, including changes to user collaboration and integration features, cash flow projection capabilities, and the graphical user interface. http://bit.ly/alnZeW

New Funding and Board Member for Home-Account -- Bills.com has doubled its financial investment in Home-Account. In addition, Mark Goines, a former director of Mint and a former Intuit executive, has joined Home-Accounts Board of Directors. Goines also made an unspecified angel investment in Home-Account. http://bit.ly/aJGuzs

Intuit Offers Payroll Suite on Google Marketplace -- Intuit is offering its Online Payroll suite of web applications on Google's new Apps Marketplace. Intuit also intends to make the payroll solution available through its own Intuit App Center. http://bit.ly/9dsR19

iPay Technologies Partners with Q2ebanking -- iPay Technologies and Q2ebanking announced a new alliance that will allow iPay to offer its bill payment solutions to Q2's customers. Q2 provides financial services technologies to community financial institutions. http://bit.ly/9T6CQ9

Tom Burgess Joins Micronotes' Advisory Board -- Tom Burgess, the founder and CEO of Third Screen Media, has joined the advisory board of online marketing company Micronotes. Burgess will serve as a marketing practices advisor. Third Screen Media was a wireless advertising company that was acquired by AOL in 2007. http://bit.ly/bUEd7Q

mFoundry Receives Paybefore Award -- mFoundry won the Best Virtual Prepaid Card category in Prepaid Media's fourth annual Paybefore Awards. mFoundry was recognized for its work on Starbucks Mobile, which allows consumers to use mobile devices to track activity on Starbucks cards. http://bit.ly/doCsP4 (Netbanker blog on Starbucks Mobile here.)

Mozo Launches Program for Students - Australian financial comparison company Mozo has launched a new service called the Student Room. The program helps university students find deals on banking services, including special offers designed for students. http://bit.ly/dBsgMu

S1 acquires PM Systems -- On March 4, S1 completed acquisition of PM Systems for $29 million. PM Systems provides internet banking, bill payment, and security solutions for credit unions. S1 announced the acquisition in its statement of its fourth quarter results. http://bit.ly/aF2Jvz

The Receivables Exchange Reports Sales Growth -- The Receivables Exchange, an online marketplace for receivables trading, reported 100% quarter-over-quarter growth in receivables sold in Q4 2009. http://bit.ly/asQqNm

Finovate is a unique conference series that showcases financial and banking technology innovation. This blog tracks the companies that have demoed at Finovate. Register now for FinovateEurope 2012 (London, February 7) and FinovateSpring 2012 (San Francisco, May 8 & 9).
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