FinLab - R&D
The world of financial innovation is constantly evolving, from the creation of new processes and systems to the implementation of cutting-edge technologies. Discover the latest news, research, and developments from the world of nontraditional banking.
By pf wilson - 10/05/2012 14:48:33
Back in the Spotlight, On Deck Seeks to Bring Main Street and Wall Street Together
Since 2008, when the current economic downturn started, there has been a lot of talk about Main Street versus Wall Street. The latter seems to have rebounded, while the former continues to lag. One company that is trying to help bridge that gap is On Deck, which was founded in 2007, right before the world economy stumbled. It was originally conceived as way for investors to more clearly evaluate a small business’s financial health, before injecting capital. This spring the company rolled out a new platform that will allow large banks and other financial institutions to more easily invest in small businesses. It introduced this new platform at the FinovateSpring2012 conference in San Francisco. [1]
It has
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By Rachel Schramm - 23/02/2012 13:46:00
Now It's Personal: Offermatic Helps Businesses Reach Customers With Coupon-Based Marketing
Offermatic customers will never need to search for coupons again. Instead, they’ll sign up to receive weekly offers, choose the coupons they want to use, and have their selected savings applied directly to their credit or debit cards. While innovative on its own, this online payment system also provides companies with a highly personalized marketing channel. Businesses seeking to build customer loyalty and awareness can use Offermatic to make customized offers and connect with users who are already interested in their products.
Easy and Safe for Customers to Use
1. Consumers sign up at Offermatic.com.
2. They register their credit or debit card with Offermatic, granting the company read-only access to their account.
3. Offermatic uses OfferMatch technology to select the best
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By Rachel Schramm - 21/02/2012 07:00:00
Xignite: Knowledge is Power
Information is one of the most powerful tools and most sought-after commodities in today's economy. The more businesses know, the better they can plan, and the more successful the company can be. Xignite, a leading financial market data cloud provider, can give companies access to the kind of information they need to prevail in a highly competitive business environment.
Cloud Computing Technology
As a company, Xignite offers more than 50 APIs (Application Programming Interface) to their cloud computing technology, and they complete more than five billion service requests a month for instantaneous data covering everything from global equities to mutual funds. This information helps companies power applications for mobile financial services, financial websites, investor relations, e-commerce, corporate ERP(Enterprise Resource Planning) and BI (Business Intelligence).[1]
International Success
Their information must
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By Rachel Schramm - 07/02/2012 07:00:00
Valuecruncher Helps Consumers Build Better Investing Strategies
Investing can be an intimidating prospect, especially since it’s hard to tell how a company will do in the future. Valuecruncher helps everyday investors predict how companies are going to perform so they can make better decisions about their investing strategies.
How Valuecruncher Helps Consumers
Valuecruncher uses "deep corporate finance and software development expertise"[1] to help the general public estimate how much they can expect to earn by investing in a specific company. They create a report based on the same "corporate finance methodologies"[1] that professionals use and allow anyone to get a lot more information about a particular company.
Without even registering for the service, a site visitor can find out some important details about
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By Rachel Schramm - 31/01/2012 07:00:00
How ACTA Could Squash Financial Innovation
Despite a huge outcry against SOPA and PIPA, there has been relatively little noise made about ACTA, the Anti-Counterfeiting Trade Agreement. While it didn't provoke venture capitalists to hold off on online start up funding, ACTA's draconian measures could still stifle online financial innovation.[1] Potentially more alarming? ACTA was written up behind closed doors and signed without congressional approval.[2]
What does ACTA Do?
Like SOPA and PIPA, ACTA was created to safeguard intellectual property rights and give the government the right to take action if they believe a website violates copyright laws.[3] Unlike SOPA and PIPA, it extends beyond United States borders. While protecting the rights of businesses and artists remains important, many online entrepreneurs criticize that the ACTA:
By Rachel Schramm - 17/01/2012 07:00:00
Vator: How Young Companies Can Get Ahead
Vator, a professional business network for entrepreneurs, stays on top of changes in the entrepreneurial world, holding competitions that help startups get a foothold in the competitive business industry.[1]
Their recent competitions are some of the most celebrated in the world of financial services. The 2011 SPLASH (Systems Programming Languages Applications Software for Humanity) competition was held in San Francisco. At the competition, ten companies, chosen by their peers and vetted by judges, have three minutes to pitch their startups on stage. Their audience consists of around 400 business professionals, executives, angel investors, VCs, and members of the media. Even though only one winner can take home the first place prize—which includes a sit-down meeting with Javelin
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By Joseph Dalton - 12/01/2012 07:00:00
Is Mobile Malware On the Rise?
In 2011, hackers directed their sights on mobile devices, especially those running on the Google Android operating system. According to a report conducted by McAfee, one of the world's biggest and most respected cyber-security firms, mobile malware saw a 22% increase in the first half of 2011 compared to the same period in 2010. Google's Android operating system was the most popular target, most likely because it's relatively new to the mobile software market. But its vulnerability could be attributed to more than just its nascent status on the market; Android software has been developed to work with a multitude of different mobile phones and service providers, making it difficult to create security solutions across different products and networks.
Those responsible for spreading malware often
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By Joseph Dalton - 15/12/2011 07:00:00
2012 FinTech Lab Unites Innovators and Investors
The financial industry's biggest innovators are gearing up for the second annual FinTech Innovation Lab. This year, the program will feature another fine crop of growing companies looking to eventually market their technology products to the world. Their cutting edge products will be targeted at financial services customers. Chosen contestants will have the ability to tote their financial innovations in a competition judged by Chief Technology Officers from the world's leading financial service firms, as well as reputable venture capitalists. FinTech 2012 will be put on by the New York City Investment Fund and Accenture, a global management consulting, technology and outsourcing company.[1]
Applying for the FinTech Innovation Lab
The FinTech Lab is now accepting entries from companies looking to unveil America's next big
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By PF Wilson - 29/11/2011 14:12:00
Harvard University Opens Innovation Lab
Established in 1636, Harvard University is the oldest institution of higher learning in the United States.[1] Its advanced age however, hasn’t kept it from remaining at the forefront of disciplines like law, medicine, technology, business, and economics. So it was hardly a surprise that on November 21, the school cut the ribbon on its brand new Innovation Lab, or i-lab as it’s been dubbed.
The i-lab will advance entrepreneurial and team-based activities, according to university officials, as well as form deeper connections between faculty, students, entrepreneurs, and the Greater Boston business community. By seamlessly integrating these groups, the lab hopes to create an environment where the unexpected can be expected.[2]
Operating under the auspices of the Harvard Business School, the lab is housed on the university’s Allston
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By PF Wilson - 29/11/2011 11:43:00
Developing Story: Bank Enters Non-Traditional Financial Services Space
The proliferation of check cashing centers and payday lenders over the past decade can be traced in part to the fact that a significant portion of the population is not served by traditional banks. A 2009 report by the FDIC shows that 9 million Americans are un-banked meaning they have no checking or savings account.[1] Some studies place that number closer to 28 million, with an additional 47 million classified as under-banked.[2] Nature abhors a vacuum and so does the free market, so it’s not surprising that nearly 15,000 check cashing stores have opened since the early 1980s.[3] Nature and the free market also promote competition, so it’s also no surprise that traditional banks have started to look for ways to reach the otherwise un-banked
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