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OBR 215 April 1, 2013 OBR 215 April 1, 2013 Finovate Report First Quarter 2013 Executive Summary ..............................................4 Industry activity.....................................................6 Funding/M&A .....................................................6 Financial Institution from Finovate alums ...........8 Product development at Finovate alums ..........10 Milestones at Finovate alums ...........................12 Partnerships with Finovate alums.....................13 FinovateEurope 2013 ..........................................17 Highlights..........................................................18 Presenter lineup................................................21 Best of Show winners Credit Agricole ..............................................29 ETRONIKA ...................................................33 mBank + Efigence ........................................37 Meniga..........................................................41 Moven...........................................................45 Pockets United..............................................50 SumUp..........................................................55 Virtual Piggy..................................................60 Future Events ......................................................64 2 Background After 12 years in the newsletter business, Online Banking Report organized the first Finovate conference in the fall of 2007 in the financial heart of North America, New York City. We quickly added a version for the tech center of the universe, Silicon Valley (2008). Then we went global in 2010 with FinovateEurope. And last year, we traveled the 13,000 miles to Singapore to capture the fintech excitement in Asia. As we enter our seventh year, we look forward to introducing in a new batch of innovators to the fintech industry (see back page for 2013 calendar). Finovate by the numbers • Finovate has hosted more than 9,000 attendees (we’ll host 10,000+ at FinovateSpring) • Nearly 500 companies have been on stage (including the 50 new ones at FinovateSpring 2013) • More than 700 live demos totaling 84 hours have appeared on the Finovate stage, all archived on our website (http://www.finovate.com/archives.html) • 1,500 blog posts published on the Finovate blog (http://www.finovate.com) which has served more than 400,000 unique visitors • Over 6,500 of you follow @Finovate on Twitter, where we’ve tweeted 5,000 times The report is divided into three parts: • Executive Summary: Trends from FinovateEurope and the industry • Industry Activity: Fintech industry highlights from Q1 of 2013 • FinovateEurope 2013 Coverage: A closer look at the highlights from the February event Industry Trends This quarter, we’ve included a breakdown of significant news that was reported throughout the fintech industry. Here’s an at-a-glance view of some recurring themes: 1. At financial institutions, we saw a significant surge in mobile technology adoption: > see Cachet Financial Solutions, TASCET, Comarch, Device Fidelity, Jwaala, and Keynote DeviceAnywhere 2. The mobile trend resurfaced in Product News (see pp 10-11), with significant development activity: > see Braintree, BankersLab, Simple, eDeposit, PlayMoolah, Planwise, Pageonce, and Xero 3. In Partnership News (see pp. 13-16), international expansion was a recurring trend > see Backbase, Monitise, Emida, TIO Networks, Virtual Piggy (pp. 60-64), and Luminous FinovateEurope 2013 Themes At Finovate’s first two day European conference in February, 64 companies took the stage at the Old Billingsgate Market Hall in London to debut new technology to an audience of upwards of 750 attendees from across the globe. Here were the main themes: 1. Mobile It’s no surprise that mobile was once again a major theme. Ever-evolving smartphones and tablets combined with an on-the-move culture, make it a high priority at most financial institutions. Here were the mobile demos at Finovate: Ayondo, Biletu, Credit Agricole (pp 29-32), CurrencyFair, Finantix, Fiserv, Leanbanking, Liqpay, Meniga, Metaforic, Mistral Mobile, Moven, Nice Systems, OPENTECH, PhotoPay, Pockets United, SumUp, Temenos, Virtual Piggy, Xendpay 2. Gamification Encouraging users to do unpleasant tasks, such as manage their money or sitting through mandatory compliance training, is no easy task. Fortunately, once made into a game, it’s much easier to motivate. Here were the financial game-makers appearing on stage: True Office, Meniga (pp. 41-44), PocketsUnited (pp. 50-54) 3. Virtual Assistance Good customer experience is tough to scale. Fortunately, with the penetration of mobile, many consumers are becoming more self-reliant. We saw a number of innovations around virtual assistance: additiv, Comarch, CR2, ETRONIKA (pp. 33-36), eWise, Finantix, IND Group, ITSector, Nice systems, PhotoPay, and Yseop 4 5 Financing Activity Finovate alums January • ACI Worldwide acquires Online Resources for more than $120 million. • Azimo earns £300,000 ($480,000) in angel investment. • BillFloat raises $21 million in funding. • Clover raises $3.3 million in funding. • FIS acquires mFoundry for $120 million. • Fiserv acquires Open Solutions. • PayNearMe raises $10 million in Series D funding. • Prosper raises $20 million in funding. • True Office scores $3 million financing round. February • On Deck secures $42 million in financing led by Institutional Venture Partners. • TSYS agrees to acquire NetSpend for approximately $1.4 billion in cash. • Tuition.io secures $1 million in financing. March • SoMoLend secures $400,000 in financing from QED Investors. • Wealthfront secures $20 million funding round • Q2ebanking secures $20 million in Series C financing • DeviceFidelity raises more than $470,000 6 Fintech at large January • Trust One Payment Services bought by Charge Payment LLC. • Mozido acquires PagoVision. • Panaya wins $16 million in Series D funding. • Digital River completes acquisition of LML Payment Systems. • MSCI to acquire InvestorForce. February • Founders acquire DailyDeal from Google. • Fortumo secures financing from Intel Capital and Greycroft Partners (rumored to be $10 million). • Optimal Blue secures financing from Serent Capital. • Paymill secures $5 million in financing from Blumberg Capital. • Trustev raises $300,000 in financing. • Linedata agrees to acquire CapitalStream. • Mambu secures $2 million in financing from Runa Capital and Point Nine Capital. • Ayojak secures financing from HBS Alumni Angels, Blume Ventures and Srijan Capital. • CloudSway raises $1.4 million in financing. • Plastiq secures more than $5.8 million in financing. • Student Loan Hero secures $20,000 financing from Expansion Venture Capital. • Bango raises more than $10 million in financing. • BlueKite acquires RedCycle Networks. • uBank (Russia) secures $8 million in financing from Runa Capital. March • Net Element International agrees to acquire Unified Payments. • Primax agrees to acquire NEBA’s processing business. • Cardtronics acquires i-design for $12.8 million in cash. • WorldPay acquires YESpay. • Stamp.it secures $225,000 in financing from Markco Media. • BitPay secures financing. • Spire Payments acquires Thyron. 7 FI Deals with Finovate alums January • Dexter Credit Union implements Q2ebanking’s full suite of eBanking solutions. • Commercial Bank of Qatar to deploy latest version of TSYS card and merchant management platform. • Cachet Financial Solutions partners with Volunteer Corporate to provide mobile RDC to their 325 member CUs. • Bridge Community Bank becomes first in the U.S. to adopt TASCET’s Financial ICONN. • ING Business Mobile for iOS and Android leverages Comarch Mobile Banking. • American Banker reports: STAR Financial Bank Rolls Out PFM Software from MoneyDesktop. • Al Rajhi Bank launches online banking platform built with Backbase Portal. • Zapsibcombank launches loyalty program with technology from Compass Plus. • U.S. Bank to deploy mobile payments technology from DeviceFidelity. • Credit Union Journal reports: Congressional FCU chooses Geezeo. • Financial Edge Community CU partners with SaveUp. • Bremer Bank to implement Fiserv’s mobile banking and payment technology. • Boeing Helicopters Credit Union moves to Andera’s oFlows for online account opening. • Jwaala helps Michigan First Credit Union improve remote deposit capture services. • Alior Bank to deploy Comarch Smart Finance. • Geezeo to power Wings Financial PFM. • Andera adds Gesa CU & Central Star CU for online account opening, loan applications. 8 February • BBVA Compass picks Keynote’s DeviceAnywhere platform for mobile app testing. • Thomaston Savings Bank selects Q2ebanking’s full suite of ebanking solutions. • Continuity Control partners with Community BancService Corporation. • Rabobank launches Figlo-powered widgets for online banking homepage. • Bank of the West launches new mobile banking app powered by Fiserv March • American Banker reports: Randolph-Brooks chooses Andera's online account opening platform. • Identity Theft 911 expands service partnership with VyStar Credit Union. • Communications Federal Credit Union to provide Tyfone mobile wallet services to its members. • American Banker reports: Union Bank signs up for Fiserv’s Bill Pay. • Finextra reports Geezeo signs 1st United Services Credit Union • U.S. Bank is first major bank in the U.S. to roll out Mitek-powered mobile photo billpay. • American Banker reports: Bank of Zachary Selects Andera’s Account Opening System. • Finextra reports East River FCU & Ishpeming Community FCU to integrate Geezeo's PFM product. • American Banker
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