Finovate: Kabbage Archives

Finovate Alumni News-- January 31, 2012

By Julie Schicktanz on January 31, 2012 10:45 AM

StockTwits now powered by Revere Data.

PC World includes HelloWallet in its list of software that does it all.

Investment News looks at SigFig's free service.

American Banker examines Dwolla's role in digital disintermediation in the banking industry.

Technorati explains how Kabbage can help small businesses. Come to FinovateEurope to see its live demo.

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.

2011 Funding for Finovate Alumni-- Over $423 Million Raised

By Julie Schicktanz on December 22, 2011 2:06 PM

To wrap up 2011, we've compiled a list of all of the funding Finovate alumni received over the course of the year.

The results were impressive:

A total of 34 companies received funding, some more than once
The companies collectively raised over $423 million dollars
The months with the highest number of companies receiving funding were June August, both with 8 companies
The highest amount of funding came in the month of June, when the alumni brought in over $124.4 million

Here is a month-by-month breakdown of funding received:

January -- $40.8 million raised by 3 companies

Kabbage: $6.7 million -- Blog post

Kony Solutions: $19.1 million -- Blog post

On Deck Capital: $15 million -- Press release

February -- $10.3+ million raised by 3 companies

eToro: $8.3 million -- Press release

Plastyc: $2 million -- Blog post

SecureKey: Undisclosed -- Blog post

March -- $20.4 million raised by 4 companies

Bobber Interactive: $1.4 million -- Press release

Credit Sesame: $6.2 million -- Press release

Finsphere: $1.8 million -- Blog post

Guardian Analytics: $11 million -- Blog post

June -- $124.4 million raised by 8 companies

Balance Financial: $1.5 million -- Blog post

Braintree: $34 million -- Blog post

Dynamics: $35 million -- Press release

eWise: $14 million -- Blog post

Prosper: $17.2 million -- Press release

Silver Tail Systems: $20 million -- Blog post

Ftrans: $650,000 -- Blog post

Lendio: $2 million -- Blog post

July -- $1.1 million raised by 1 company

Continuity Control: $1.1 million -- Blog post

August -- $103.4 million raised by 8 companies

edo Interactive: $20 million -- Press release

Kabbage: $17 million -- Blog post

Lending Club: $25 million -- Blog post

miiCard: $900k -- Press release

On Deck Capital: $19 million -- Blog post

peerTransfer: $7.5 million -- Press release

Simple (Formerly BankSimple): $10 million -- Blog post

Xero: $4 million -- Press release

September -- $33 million raised by 1 company

Cardlytics: $33 million -- Blog post

October-- $22 million raised by 2 companies

BillGuard: $10 million -- Blog post

CashStar: $12 million -- Press release

November -- $16.3+ million raised by 3 companies

Braintree: Undisclosed -- Blog post

Ftrans: $1.3 million -- Blog post

SecondMarket: $15 million -- Press release

December -- $52.2 million raised by 5 companies

Bill.com: $15.5 million -- Press release

Kabbage: $12 million -- Press release

mFoundry: $18 million -- Press release

MOOTWIN: $5.5 million -- Blog post

Plastyc: $1.2 million -- Blog post

Note: Funding that companies received before they demonstrated at Finovate was not counted. If you see any funding that is not on this list, please send the name of the company along with a link to the funding information to julie@netbanker.com and I will add it.

Finovate Alumni News-- December 16, 2011

By Julie Schicktanz on December 15, 2011 9:21 PM

Kabbage secures second U.S. patent for online merchant finance platform.

IP Commerce to assist BillingTree with expediting merchant boarding services.

MyBankTracker compares PFMs including Mint, HelloWallet, and Pageonce.

Business Insider gives an tour of Credit Sesame's new mobile app.

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.

Kabbage Secures $12 Million in Financing

By Julie Schicktanz on December 13, 2011 11:33 AM

Kabbage, provider of working capital to online retailers, announced a new round of financing today. The startup received $12 million in debt financing from California-based Western Technology Investment.

Kabbage states that the money will help it provide more working capital to its network of 10,000-plus online merchants.

To learn more about Kabbage, watch its FinovateFall 2011 demo.

Finovate Alumni News-- December 7, 2011

By Julie Schicktanz on December 7, 2011 9:31 AM

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.

RIABiz profiles HiddenLevers.

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.

Finovate Alumni Website Traffic in September

By Julie Schicktanz on November 2, 2011 1:00 PM

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.

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.

Source: 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.

Finovate Alumni Website Traffic in August

By Julie Schicktanz on October 20, 2011 6:30 PM

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.

Source: Compete.com retrieved week of October 3, 2011

1) The previous month recorded was July 2011

2) Truaxis was formerly BillShrink

3) Sears Credit Score is powered by CreditKarma.com

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.

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.

Finovate Alumni News-- October 10, 2011

By Julie Schicktanz on October 10, 2011 12:46 PM

NY Times reports how BancVue works with community FIs to offer checking accounts.

Prosper looks at its growth and returns over time.

Cnet reviews the BankOns iPhone app.

CTV News recommends Wall Street Survivor as a learning tool.

BizNews looks at how Kabbage provides capital to online businesses.

SF Gate reports how PayNearMe makes paying bills easy for the underbanked.

CU Insight reports GCS Federal Credit Union signs with Geezeo.

Payments Journal examines CashStar's plan for a mobile app.

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.

FinovateFall 2011 Live Twitter Transcript

By Julie Schicktanz on September 28, 2011 8:56 AM

Here's a transcript from Finovate's live twitter stream during FinovateFall last Tuesday and Wednesday.

The entries appear in chronological order:

Day 1, Session 1

Here we go, Finovate number 10 starts in 10 minutes. Lots of cool tech coming! Follow the #finovate hashtag for next 2 days.

Weemba is launching a "reverse lending" system that puts borrowers in control. Only lenders they authorize can contact them. Link

Demyst.Data is launching a lender predictive analytics system to grow portfolios through better segmentation. Link

Google is showing its new Advisor that is designed to improve the search experience for mortgages, credit cards, etc. Link

Google is showing how you can easily compare terms and conditions. It is inviting banks to talk to them to participate.

Betterment is launching goal-based investing to its simple investing platform. Link

Betterment is showing how to create multiple goals with different asset allocations. This is a great, understandable investment UI.

Segmint is launching SegmintSocial, a platform for financial institutions to interact with customers on Facebook. Link

Segmint is demoing a bank dashboard and live chat-like user interface to engage customers in Facebook.

Kabbage is debuting its SocialKlimbing system that uses social activity as part of the credit evaluation process. Link

Kabbage is demoing the social and sales analytics around an eBay merchant's store in order to assess the merchant's risk and increase credit.

RobotDough is launching an "antivirus for your portfolio" that monitors a brokerage account for accounting red flags. Link

RobotDough has massive coverage: it is worldwide on 130 stock exchanges, has 45,000 companies worldwide, and has options coverage coming soon.

RebirthFinancial is showing a new way for lenders to analyze small businesses. JAS (pronounced jazz) is a neural network rating system. Link

Rebirth Financial is looking to popularize a small business predictive model-- there is a big need for that.

CreditSesame is launching its "badges of financial responsibility" to "certify credit worthiness" to the world. Link

Day 1, Session 2

TandemMoney is launching a system for users to "borrow" from themselves, then repay. This helps to minimize interest. Link

TandemMoney is demoing the "loan" process that uses a "plain talk promise" to disclose exactly what's going on.

Equifax is demoing a freemium service that shows "Places" on its mobile app and has real-time access to your credit file. Link

Equifax is showing how you can use its mobile app to determine "neighborhood safety" based on credit scores. It also has a "credit report" lock toggle.

Transecq is showing its ENTERSECT out-of-band transaction authentication system using a mobile phone. Link

Transecq is using push-based notifications rather than an SMS message for the 2nd-factor authentication.

Balance Financial is demoing a bill upload process using an iPhone camera. It also launches a FaceTime chat with the personal bookkeeper. Link

Balance Financial's app has receipt uploads that are managed with help of a personal bookkeeper at $40 per month.

Micronotes is showing its new KulaX cross-sell engine 1st Advantage Credit Union on stage demoing it Link

1st Advantage FCU says it gets three times the number of leads using Micronotes compared to the traditional method of direct marketing.

PersonalCapital is launching its company today at Finovate, calling itself an "investment management for the Internet age." Link

Personal Capital is demoing an investment management UI which really pops, showing an "investment checkup" with fee projections.

Personal Capital demonstrates its free service using an iPad app with FaceTime connection to your financial advisor. It ends its demo with an iPad giveaway.

Kony is showing its new mobile commercial banking application that streamlines approvals and transactions. Link

MyCyberTwin is debuting an "emotionally responsive AI virtual agent" that is able to use emotion, smile, frown, etc. Link

MyCyberTwin is demoing a fully automated avatar deployed on Australia's NAB. It captures customer mood and responds to what they really want.

Day 1, Session 3

CashStar is launching its Digital Gifting platform where the iPhone app turns card points into mobile gift cards. Link

Authentify is launching 2CHK for a secure, 2-way window into user accounts for review, approval, or cancelation of transactions. Link

Backbase debuts its Retail Bank of the Future, and suggests products that "other people like you use" (Similar to Amazon.com's recommendations). Link

Andera is showing its new FortiFI system that scans new account applications submitted to over 500 financial institutions. The system discovers fraud patterns. Link

Andera is demoing a fraud app made on BankSimple app. Side note: this is the first Finovate company with masked man driving the laptop!

eToro is launching "Copy.Me," a store where you can find the top traders to follow and copy their trades. Link

The best jokes delivered at Finovate so far: eToro's Yoni Assia (high school copying) and Kabbage's Marc Gorlin (naked tweeting).

Yodlee is showing its new "Dynamic Consumer Experience" with a large "deals" section in the upper-right. Link

Yodlee is showing a goal-oriented profiling tool, Smart Credit, in its FinApp Store. Real-time PayPal payments can be used to pay bills.

BillGuard is demoing its new "Antivirus for Bills," a crowd-sourced database with information on bad charges to inform all users of the fraud. Link

BillGuard is demoing a Yodlee-powered daily scan on credit card transactions across all your cards. It flags potential issues and likely fraud.

BillGuard today is launching "BillGuard browser extension," so far it has found fraudulent charges on 20% of cards-- this adds up to $350,000 in savings.

BillGuard is launching a collaborative industry working group to track fraudulent charges.

Day 1, Session 4

modoPAYMENTS is showing its full-service mobile payments service using a live helmet cam at a local bar. Link

So glad that modoPAYMENTS the helmet cam demo worked!

cbanc Network is showing a "social network-like" system for bankers to work with each other to tackle issues. Link

cBanc uses a virtual currency to incent bankers to upload answers and solutions to the network so that others can "buy" the solutions.

cBank has 2,900 participating financial institutions and 3,000 solutions and answers in the system, including exam sharing. It even has a method to NOT share the information with competitors.

cBank Network is launching vendor opportunities today such as advertising, review responses, surveys, etc.

SigFig is a "second set of eyes for your portfolio." It can set up a meeting with your adviser within the system.

SigFig is showing its system for avoiding trading fees, showing a real example where the user could save $150k per year. Link

Mootwin is showing its new mobile investment management and trading system with real-time updates. Link

Experian is demoing its new myID privacy and identity monitoring system. Link

Experian myID will help you opt out from tracking services. This helps get your name and mobile phone number removed from data aggregation services.

Experian myID can be white-labeled for financial institutions.

Plastyc is showing its new savings account attached to Upside prepaid account. It includes goals and achievements. Link

Plastyc is showing its systematic savings tools and cash-back rewards to incent savings (currently 6% rate).

Dynamics is launching Chip & Choice, enabling advanced EMV applications without the need to update point of sale terminals. Link

Dynamics drops its card into a glass of water to show that it can go through the washer, nice.

Day 2, Session 1

FinovateFall 2011 day 2 starts off with T8 Webware.

T8 Webware is launching Grip, a mobile banking app with aggregation to monitor all accounts. It also includes receipt upload. Link

T8 Webware built its own aggregation engine. The app carries a fee of $0.99 for each month used.

Swipely is launching a "loyalty for main street," platform that is linked to customer credit and debit cards. Link

CREALOGIX is launching CLX.SentinelDisplay, a USB device with keypad, display, and a hardened browser for out-of-band authorizations. Link

CREALOGIX also includes complete data confidentiality: when the USB device is disconnected, nothing about the session remains on the PC.

ACI Worldwide and MShift are unveiling their Mobile Enterprise Banker," a business banking app for tablets. Link

ACI and MShift are demoing on the iPad, showing how an urgent push notification from a bank overrides an "Angry Birds" session-- nice visual.

FuzeNetwork is launching Swipe2Pay to make a cash payment or deposit to a bank by swiping a card at a retailer's point of sale. Link

Fuze Network is demoing actual point of sale transactions where "any card" works. The system is live at ACE now.

FreeMonee is showing its new card-linked offers system to provide simple cash back rewards. Link

MitekSystems is debuting "Mobile Balance Transfer" for banks to acquire new credit card customers. Link

Mitek is demoing "point.shoot.transfer.save." Users take a photo of a credit card statement, the tool extracts the APR/balance, then uploads the information to the issuer for an offer.

Mitek is showing what happens in the back office when an image is received and how it is evaluated.

Truaxis (formerly BillShrink) is demoing its new platform that delivers personalized discounts via web, mobile, and email. Link

Truaxis says that the majority of its users want "Netflix-like" recommendations for purchases. There is great potential for banks to showcase this information.

LearnVest is creating the 1st online 'financial fitness center'. Its goal is to make financial planning more accessible to women. Link

LearnVest has put 250,000 users through its "financial boot camp" in past 3 months. It is showing a PFM with a "Gmail look and feel."

LearnVest is demoing a "financial advice center" with costs $130/yr or $4.99 for 1-day.

Day 2, Session 2

Cartera Commerce unveils its Local Offers solution, part of its card-linked offers service. Link

Cartera Commerce is demoing its merchant self-service interface.

FamZoo is showing its system for teaching kids good money habits via co-branded FamZoo Virtual Family Bank. Link

FamZoo is demoing how kids and parents interact through its online interface, manage spending, incent savings/giving, and create rewards.

FamZoo is launching a "partnership edition" today, a private branded version for banks, credit unions, and advisors.

oFlows is launching a broad-based paperwork solution; allowing for the digitization of all types of paper-based transactions. Link

oFlows is demoing the upload of a voided check to handle account verification on-the-go.

InComm and CorFire are showing a new mobile platform for retailers to personalize the consumer payment experience. Link

InComm and CorFire are demoing an offer delivered in-store on a mobile device. It then uses a mobile barcode to pay at the point of sale.

planwise is debuting its company at Finovate today. It is designed to help consumers understand their financial plans. Link

planwise offers "Secure Share" to provide the ability to share parts of your financial plans with others-- this is a much-needed online finance feature.

Jingit is launching a transactional ad platform where consumers can earn cash for engaging with brands. Link

Jingit is demoing how it works with an online music store: "instant earn/instant spend." It is working with US Bank for cash-back rewards.

LighterCapital showing its new Revenue Loan that offers "debt-like risk with equity-like returns." Link

Ligher Capital is showing its two-question loan application--that should raise eyes. It is also discussing real "Tomato Battle" funding.

Lighter Capital is launching "social security" with partners. It combines "light-weight lending platform" with social media-based decisioning.

MasterCard is showing its new Small Business Controller, part of the inControl suite to create unique payment products. Link

MasterCard is demoing virtual card creation by small businesses with real-time alerts to employees.

BankSimple is showing its user interface publicly for the first time today, focusing on speed and simplicity. Link

BankSimple features a "Safe-to-spend" balance that is "red flagged" in the upper left corner of the main page. It is also demoing a "Goggle-fast" natural-language search.

BankSimple is "helping users learn from their transactions". It is demoing fast bill-pay with real-time processing.

BankSimple is demoing a goal setup. Users can pause, lock, resume, or manually add to it. It is also showing a mobile interface that was "designed before online UI."

Day 2, Session 3

PayNearMe is launching its new automobile-loan payment service using cash at local stores such a 7-Eleven. Link

PayNearMe is demoing with a Monopoly board and a toy cash register--a Finovate first.

PayNearMe demos making payments for rent and utilities with a mobile bar code scanned at a 7-Eleven.

CarryQuote is showing its Intellicast system to quickly publish investment research to mobile and tablet apps. Link

CarryQuote is launching a "conference feature" to connect with customers before, during, and after investment events. It also has real-time updates.

FeeFighters is launching the Samurai payment gateway, the "simplest way to accept payments online." Link

FeeFighters is demoing how to add its gateway to a webpage. It uses "intelligent routing" of payments to ensure the lowest cost.

Wall Street Survivor is launching a new interface catering to investing beginners. It uses missions to educate the learning investors. Link

Wall Street Survivor is the "largest fantasy stock market online," with 350,000 registered users.

Wall Street Survivor is demoing a stock trading "mission" with virtual cash and points to reward users. It also includes Facebook integration.

miiCard is showing "Assured Identities" to serve as "drivers license/passport checks" for the online world. Link

miiCard is designed to reduce high levels of "financial cart" abandonment, showing how it can be integrated into a banking site.

DoughMain is launching a family financial management platform and three age-relevant financial game sites. Link

DoughMain is showing a financial homepage for pre-teens with a service that includes a prepaid card. It also has a gift card purchase cart.

DoughMain is looking to offer versions for banks.

Bundle is using actual spending data to help "cut through the noise" of user-review sites like Yelp. Link

Bundle is demoing its advanced "search results filtering" to hone in on restaurants that attract repeat customers.

Day 2, Session 4

Transparency Labs is working on the transparency genome to decode and explain financial "fine print." Link

Transparency Labs is demoing how it can break down the "fine print" and uncover fees and important conditions, showing it in a dashboard.

Transparency Labs also monitors existing agreements and sends alerts when the "fine print" changes.

ActivePath and Cardlytics are teaming up to deliver in-statement offers delivered directly to clients via email. Link

Cardlytics and ActivePath are showing "active mail" within Gmail. It includes an "offers" tab within the emailed bank E-Statement.

The Cool House of Financial Media is launching eyeOpen, a financial matching service that provides the best-fit in financial products. Link

The Cool House of Financial Media is demoing a consumer profiling session with eyeOpen, and recommends products based on what other people liked.

IND Group is launching IND Innovation, a new online and mobile platform that includes a "bank feed." Link

IND Group is demoing mobile P2P payment with a QR code. It supports "mobile first" banking.

Offermatic is reinventing "daily deals" by making them relevant and easy to redeem through bank card linkage. Link

Offermatic is offering "guaranteed net new profitable customers." It is demoing a dashboard of metrics for merchants with zero cost to the merchant.

Offermatic is launching Dynamic Offers, the first system that pegs the value of a discount to the value of the customer. It also track repeat purchases.

ReadyForZero is showing a new system with loan repayment automation and data sharing. Link

ReadyForZero found that its users pay down debt twice as fast as non-users; its designed to reduce credit losses for banks/card issuers.

Bobber Interactive is launching its GoalCard app on Facebook. Link

Bobber Interactive's social-game-based system is geared towards GenY; asks "who would you rather loan $50 to?" using Facebook tools.

Bobber Interactive "is helping Gen-Y win at money" ($200 billion market).

That's it-- FinovateFall is a wrap...see you in the networking hall!

With Kabbage's SocialKlimbing, Online Merchants Benefit From Being Social

By Julie Schicktanz on September 20, 2011 9:50 AM

This morning, Kabbage demonstrated SocialKlimbing, which enables online merchants to benefit from engaging in online social activity:

"Kabbage has launched the SocialKlimbing feature of its system, which enables online merchants to associate their social activities with their Kabbage account. By doing so, Kabbage incorporates information from these social media sites to underwrite risk and enable online merchants to receive a benefit by actively engaging with audiences interested in their products and services."

Product Launched: June 2010

HQ Location: Atlanta, GA

Company Founded: February 2009

Metrics: Just under $26M raised from accredited investors and partners, 22 employees

Website: kabbage.com

Presenting Marc Gorlin (Chairman & Co-Founder) & Kathryn Petralia (COO)

Kabbage Receives $17 Million in Series B Funding, Secures Patent

By Julie Schicktanz on August 17, 2011 10:26 AM

Kabbage, a startup that provides working capital to online businesses, revealed two big announcements today.

First, it received $17 million in funding from Mohr Davidow Ventures, BlueRun Ventures, David Bonderman, Warren Stephens and UPS Strategic Enterprise Fund. With this funding, Kabbage says:

"We're able to explore new territories; we can pursue additional marketplaces, new financial products and expand our model even further now."

Second, it has been awarded a US patent:

"The US Patent is an 'apparatus to provide liquid funds in the online auction and marketplace environment.' Basically, it's a system that lets use an online merchant's shop and selling history to best determine how dire a need there is of funds."

To check out how Kabbage works, watch its FinovateSpring 2011 demo.

Alumni News -- Week of May 23, 2011

By Julie Schicktanz on May 31, 2011 12:18 PM

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

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'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
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

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

PayNearMe
BillShrink examined PayNearMe's cash payment service Link

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

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 Link

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
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

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

Alumni News -- Week of January 9, 2011

By Jessica Ward on January 17, 2011 9:58 AM

To see Finovate alumni company news in real-time, follow our feed on Twitter here.

Backbase is holding an engagement banking seminar on January 27. -- Attendance is free, but pre-registration is required. http://bit.ly/finovate114111

Blippy has been nominated for a Crunchie award. -- The awards, given in a number of startup categories, are a joint effort by three tech blogs: TechCrunch. VentureBeat and GigaOM. http://tcrn.ch/finovate113114

FeeFighters (formerly TransFS) has raised an additional $1.6 million in funding. -- FeeFighters helps businesses comparison shop for credit card processing services. http://tcrn.ch/finovate113112

Fifth Third Bank will offer Popmoney from CashEdge. -- Popmoney, an e-mail based money transfer system, will be available to Fifth Third customers in mid-2011. http://bit.ly/finovate110113

Firstmark Credit Union selects Geezeo for PFM platform. -- The credit union, with 90,000 members with $700 million in assets, will use Geezeo's white label platform . http://bit.ly/finovate1101

iBearSoft releases Money 5.0 mobile app. -- The new release includes several speedups and new features. http://bit.ly/finovate1112

Jwalla offers free trials of the Better Online Banking (BOB) platform for credit unions. -- The trial platform can be launched within two days of the request and allows prospective clients to see all of the available features. http://bit.ly/finovate113113

Kabbage raises an additional $6.5 million to support its loan business targeted to eBay and other online sellers. -- This round was led by BlueRun Ventures and UPS Strategic Enterprise Fund. http://tcrn.ch/finovate113111

Kashoo users get a 30% discount on electronic tax filing with eSmart Tax. http://bit.ly/finovate114112

PerkStreet and Lending Club offer cash prizes for creatively shredding credit cards. http://bit.ly/finovate111113 or shredyourcreditcard.com

Plastyc and eBillMe launch a new banking system for self-employed users. -- The platform allows users to receive clients' electronic payments directly. http://bit.ly/finovate112112

SafetyPay signs deal with Brazil's Banrisul. -- This will allow Banrisul Bank's three million customers to make purchases in their own currency by way of SafetyPay's service. http://bit.ly/finovate111111

SmartyPig launches its first iPhone app. -- Users can add to their savings, manage goals and even contribute to another user's goal. The app also includes a location-based tool to find participating merchants. An Android app is planned for February. http://bit.ly/finovate110112

Tyfone receives a fourth patent for mobile e-wallet technology. -- This newest patent, is entitled, "Asymmetric cryptography with user authentication." http://bit.ly/finovate112111

The Mii card, powered by Yodlee, becomes a digital passport for online authentication. -- See the Mii card in Action at FinovateEurope. http://www.miicard.com/

Weekly Updates -- Weeks of Oct. 25 and Nov. 1, 2010

By Jessica Ward on November 9, 2010 1:01 PM

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

TechCrunch recognizes Credit Karma. http://tcrn.ch/finovate10262

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

Alumni News -- Week of August 18, 2010

By Jessica Ward on August 21, 2010 5:56 PM

Here are the news updates for the week of August 16, 2010. To view in real-time, follow us here.

Acculynk partners with NetWorks to provide pin debit solutions. NetWorks is a nonprofit processing organization which serves credit unions in ten states, processing 13 million transactions a month. http://bit.ly/finovate8171

BlingNation founder Meyer Malka interviewed by The Paypers. The story focuses on new innovation in mobile payments. http://bit.ly/finovate8192

ClairMail unveils new tools for international currency conversion. The tools include multi-currency management, international bank/ATM locators, and multi-language capability. http://bit.ly/finovate8191

Warren Buffett buys 4.4 million shares of Fiserv. The $220 million investment boosts confidence in the fintech sector. http://bit.ly/finovate8193

Finovate alum Kabbage selected as Microsoft BizSpark partner of the day. http://bit.ly/finovate8182

Want to see Lending Club, BillShrink and more at SXSW 2011? See Lending Club's post and vote for the panels you would like to see. http://bit.ly/finovate8161

Prosper releases 12-month P2P lending statistics. Prosper considers itself the world's largest peer-to-peer lender with 34,000 loans totaling $202 million. http://bit.ly/finovate8181

Alumni News -- Week of August 1, 2010

By Jessica Ward on August 9, 2010 12:08 PM

Here are our news updates for the week of August 1, 2010. To get our updates real-time, follow us here.

Home ATM announces the addition of OB Rawls IV to its board of directors. Mr. Rawls most recently served as vice president at the Hypercom Corporation. http://bit.ly/finovate834

British PM David Cameron visits Infosys HQ. The Prime Minister visited to discuss opportunities between Britain and India in technology. http://bit.ly/finovate833

See how Kabbage borrowers really use their loans to start online (eBay and Etsy stores). This post on the Kabbage blog was written by Kabbage borrowers to break down how Kabbage is helping to build their business. http://bit.ly/finovate812

Kapitall has added a class of 19 "Summer Investors." Follow their progress on the Summer Investors blog. http://bit.ly/finovate832

Kapitall hosts mock portfolio challenge to win an iPod touch. Read the rules here. http://bit.ly/finovate862

Kapitall just got friendlier. Meet up with your Facebook friends via the new Kapitall/Facebook integration. http://bit.ly/finovate813

Kasasa changes their Kasasa Giving program. Kasasa allows users to decide how much to give. http://bit.ly/finovate863

Kasasa Tunes are now available in Mississippi. Magnolia Federal Credit Union went live with Kasasa Tunes on July 18. http://bit.ly/finovate814

Card Services for Credit Unions (CSCU) partners with MShift. The partnership will provide CSECU's 3,000 member credit unions with the latest in mobile-banking technology http://bit.ly/finovate835

PayPal upgrades Android app. See TechCrunch's review comparing the Android version to the iPod version of the P2P payments app. http://tcrn.ch/finovate861

The Receivables Exchange is listed as one of the 40 most influential financial tech companies in a list compiled by Institutional Investor Magazine. http://bit.ly/finovate811

SecondMarket appears in CNBC story about Techonomy 2010 business conference. The conference is being held this week in Lake Tahoe, California. http://bit.ly/finovate831

Hard-core Wesabe users can download some of the open source code. For other users, Wesabe offers a list of alternatives at their blog. Sorry to see them go. http://bit.ly/finovate815

Alumni News – Week of April 5

By Andrew Dolbeck on April 8, 2010 3:50 PM

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

Acculynk Introduces Program for Independent Sales Organizations - Acculynk, which provides online PIN debit payment services, introduced PaySecure Plus, a new program that expands the company's services to include Independent Sales Organizations. http://bit.ly/bV5xgA

BancVue Launches MoneyIsland.com - BancVue launched MoneyIsland.com, a teaser site for its financial literacy game that becomes available to community financial institutions in September 2010. MoneyIsland 1.0 is an expansion of the beta CentsCity game, which BancVue picked up in its recent acquisition of Skill-Life. http://bit.ly/bY7WFf

Boulevard R Partners with Financial Planning Association - Boulevard R has partnered with Financial Planning Association to offer its finance management software to consumers on FPA's website. http://bit.ly/aSCwKS

CashEdge Appoints Global Head of Product & Marketing - CashEdge appointed Catherine Palmieri to Global Head of Product and Marketing. Prior to joining CashEdge, she served as Executive Vice President, General Manager, for Citibank, overseeing Citibank.com, Citibank Direct, and CitiMobile. http://bit.ly/azYw56

Centrro Launches Mortgage Product Beta - Centrro launched the beta version of its new product, Centrro Leads, which helps connect mortgage brokers to consumers based on credit profiles. http://bit.ly/bGgZBE

iPay Technologies Joins High Impact Portfolio - iPay Technologies joined the High Impact Portfolio, a public/private partnership of between Louisville Metro Government and Greater Louisville Inc.'s ENTERPRISECORP designed to support Louisville, KY businesses. iPay was named as one leading top-growth companies in the Louisville metro area. http://bit.ly/bpW2GC

Kasasa Signs its First Virginia Member - Kasasa signed its first financial institution in Virginia, Northern Star Credit Union. The credit union will offer three new products, Kasasa Cash, Kasasa Saver, and Kasasa Giving. http://bit.ly/dmLGKV

Lending Club Offers Cash Bonus to Members - In an email to its members, Lending Club offered its members cash bonuses on new deposits in an invitation-only rewards program. Lending Club will provide a bonus of 1% to funds over $2,500 and 1.5% to funds of $15,000 or more. www.lendingclub.com

Monitise Enters Joint Venture in Asia - Monitise has signed a 50/50 joint venture agreement with First Eastern Investment Group to develop services in the Asia Pacific region. First Eastern is based in Hong Kong. http://bit.ly/9TcpCF

Monitise Americas Publishes White Paper - Monitise Americas has published a white paper examining the adoption of mobile services as a strategic option for financial institutions. The paper includes a case study following H&R Block. http://bit.ly/9llGRW

Zecco Releases New Web Tools - Zecco launched two new browser-based tools, Zecco Streamer and Zecco Streamer Lite, which provide traders with real-time market data. The Lite version is free, while the standard version, which covers more stock exchanges and offers email alerts, has a monthly fee. http://bit.ly/bt9wb4

And news from our soon-to-be alumni presenting at FinovateSpring 2010:

Bill.com wins Monarch Innovation Award -- Bill.com has been recognized with a 2010 Monarch Innovation Award from Barlow Research Associates. The company received an honorable mention in the Industry Partner category. Bill.com was one of only six companies awarded this year. http://bit.ly/bCCati

Kabbage Loans to eBay Users - Kabbage is offering short-term business loans to eBay sellers. The company will evaluate sellers based on eBay ratings, whether they have an eBay Store, and funds flowing through their PayPal and merchant credit card accounts. http://bit.ly/bcOd9c

Last Chance for FinovateSpring Early-Bird Tickets -- Only 2 Days Left to Save!

By Eric Mattson on March 30, 2010 3:49 PM

Just a quick reminder that the early-bird ticket prices for FinovateSpring 2010 (May 11, San Francisco) will expire at the end of March (less than 2 days from now). If you register by March 31, you'll save $100 on your ticket and lock in your spot to see debuts and demos of dozens of new financial and banking technological innovations.

We've handpicked an amazing list of companies to demo their latest including:

Tickets are selling well with hundreds of registered attendees from great organizations like:

AARP
BNP Paribas
CBS
Experian
Google
Intuit
Kaiser Permanente
Mechanics Bank
Tower Group
USAA
Visa

Aite
Capital One
Celent
Filene
H&R Block
Jack Henry
Motley Fool
Target
PayPal
US Bank
Wells Fargo

Alliant Credit Union
Canaan Partners
Discover
Forrester Research
ING DIRECT
Highland Capital
Javelin Research
NY Times
TransUnion
Venrock
Wired Magazine

FinovateSpring is one of our twice-yearly showcases of the best new ideas in banking and financial technology. The show is built around a unique blend of fast-paced demos of actual technology (no slides!) and high-quality networking with an audience of senior FI executives, fintech entrepreneurs, VCs, press, industry analysts and bloggers. It's an awesome environment to find your next competitive edge.

Don't miss out on the early-bird price on your ticket to this great show. Register now!

P.S. Online Banking Report subscribers are entitled to an extra discount to our Finovate conferences. Email me to get it.

Eric Mattson is CEO of Online Financial Innovations, the parent company of NetBanker, Online Banking Report and the Finovate Conference Series. He can be reached at eric@netbanker.com.

FinovateSpring 2010 Demo Companies Revealed

By Eric Mattson on March 17, 2010 7:19 PM

We're very pleased to announce the lineup for the upcoming FinovateSpring 2010 conference. Taking place on Tuesday May 11 in San Francisco, the conference will showcase dozens of handpicked companies debuting and demoing their latest and greatest fintech innovations. The quality of the new ideas that will be demoed on stage is very high this year and we're incredibly excited to showcase them to you.

The demoing companies selected (that we can reveal so far) are:

These companies will be showcased to an audience of senior financial/banking/credit union executives, influential press, industry analysts, venture capitalists, bloggers, tech companies and entrepreneurs.

A sampling of the great organizations already registered to attend includes: AARP, Aite, Alliant Credit Union, BNP Paribas, Capital One, Celent, Discover, Experian, Fidelity, Filene, Forrester Research, Google, Highland Capital, Intuit, Javelin Strategy, Jack Henry, Mechanics Bank, Motley Fool, NY Times, PayPal, Tower Group, USAA, US Bank, Venrock, Wells Fargo, and Wired Magazine.

We'd love to have you join us at the spring event and watch the future of finance/banking unfold onstage. If you register today you'll save $100 via the early-bird ticket discount. Please note that the early-bird prices expire at the end of this month and space is limited so lock in your spot now!

Eric Mattson is CEO of Online Financial Innovations, the parent company of NetBanker, Online Banking Report and the Finovate Conference Series. He can be reached at eric@netbanker.com.

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