“KulaX is a cross-sell engine that enables financial institutions to leverage their online banking platform to generate more leads faster without interfering with core banking functions. Online banking customers are targeted with the “next best product” where they are invited, at logout, to engage in an automated one-on-one microinterview with their financial institution about their financial products’ needs and preferences. Upon interview completion, customers are presented with special offers for the FI’s products and services that have been tailored based on interview responses; requested offers are emailed to the customers. KulaX has generated 5 leads per 1000 online customers per week in field application.”
Category Archives: Micronotes
Micronotes & Yodlee Power Logout Promotions at 1st Advantage Credit Union
Last week, Bank Technology News reported how 1st Advantage Federal Credit Union transitioned away from banner ads during online banking sessions due to low clickthrough rates.
“(KulaX) presents three questions, targeted to a specific user and designed around a specific product. The questions are presented only when the user logs out.The technology can use either transaction data gathered by the bank or its own analysis engine to target its questions. KulaX tracks responses and the actual use of the offers it presents.”
“In addition to cross-selling bank products, Micronotes can present merchant-funded offers through another product it has developed with the vendor Yodlee Inc. called Yodlee Offers.”
FinovateFall 2011 Sneak Peek: Part 1
More than 60 leading fintech innovators, both startups and established companies, are gearing up to present at the biggest Finovate ever, Sep. 20/21 in NYC.
- Motivates people to share their best work
- Uses points as currency to incentivize users
- Helps FIs prepare for exams
- Protects users around legal and competitive concerns of sharing
uding credit issuance, risk assessment, segment identification, and offer customization.
, and give a detailed explanation about how current leading financial institutions are using the technology today and will use the technology in the future.
utions for the financial services market. All the services leverage the security of Digital Fingerprint technology which uniquely ties a user and his/her mobile phone to an encryption key.
Alumni News — Week of July 25, 2011
- American Consumer News provided a comparison guide for borrowers and lenders to Prosper’s and Lending Club’s services. The benefits included high rates of return and flexibility. Link
- Brian Wong’s Database blog looked at what its like to invest in Lending Club. He presented his opinion on the usability of the service. Link
FinovateFall 2010 Demo Videos Now Available
We’re pleased to announce that the demo videos from FinovateFall 2010 are now available for free download (or immediate consumption) from the Finovate archives.
This fall’s NYC conference showcased 56 handpicked companies doing 7-minute demonstrations (no slides allowed) of their latest technology innovations to a sold-out audience of 650 financial & banking executives, venture capitalists, press, analysts and entrepreneurs.
Check out these cutting-edge ideas in financial, banking, payments, mobile, lending, investing and security technologies today for inspiration and your next edge on the competition!
(P.S. If you’re interested in joining us at the next Finovate event, tickets are now on sale for FinovateEurope (Feb, 1, 2011 in London). It is going to be an amazing showcase of European and global fintech innovation!)
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.
FinovateFall 2010 Demo Lineup Revealed
We’re very excited to reveal the 56 cutting-edge companies that have been selected to demo their latest technology innovations on October 4 and 5 in New York City at FinovateFall.
Over the show’s two days, attendees will get to watch the future of fintech and banktech unfold on stage via fast-paced demos (28 each day) from these innovators. And then have a chance to interact with top executives from each of the demo companies during intimate networking sessions.
Without further delay, here’s the list of companies we’re excited to showcase:
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If you’re interested in attending the conference, registering now will save you $100 on your ticket via the early-bird discount and reserve your spot (space is limited and we’re expecting to sell out). We’ll see you in New York!
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.
Alumni News — Week of June 6, 2010
Here are the news headlines posted this week on Twitter (follow our feed here).
MoneyAisle appears in Kiplinger’s Retirement Report (print only). The story appears in the June issue and explains the new “auto loan search” features at MoneyAisle. More from MoneyAisle at http://bit.ly/FINOVATE671
BBVA Compass Bank replaces West Bank as SmartyPig’s banking partner. BBVA Compass is the 15th largest bank in America. http://bit.ly/FINOVATE672
Kapitall unveils “search by brand” feature. The new search helps investors to identify the parent company of their favorite brands. http://bit.ly/FINOVATE681 or www.kapitall.com
SecondMarket CEO Barry Silbert interviewed by Dan Rather [vid]. See more on SecondMarket’s management of “illiquid assets.” http://bit.ly/FINOVATE691
MoneyAisle featured in Wallet Pop. Read more about shopping for an auto loan from MoneyAisle at http://bit.ly/FINOVATE692.
SmartCredit.com featured on the Oprah Winfrey Show. See SmartCredit.com at work with Oprah and Jean Chatzky as part of the “Debt Diet” series on the program. http://bit.ly/FINOVATE693
Ebay recognizes Outright.com as most innovative app. Outright.com received an award for most innovative application at the Ebay developer’s conference. http://bit.ly/FINOVATE6101
MPower Ventures in the running for Business Week’s “Most Promising Social Entrepreneurs.” Twenty-five companies are finalists. Read more at http://bit.ly/FINOVATE6102 or www.mpowerlabs.com.
Micronotes raises another $1.6 million in funding. Yahoo Business reports on the startup’s fund raising success. http://bit.ly/FINOVATE6103
TransFS.com helps merchants shop for better credit-card processing. TransFS claims that user merchants can save up to 40% by shopping around for merchant services. http://bit.ly/FINOVATE6111
Billeo expands merchant directory. Billeo users can now pay their bills online with more than 10,000 merchants. http://bit.ly/FINOVATE6112
Peer-to-Peer lender Prosper.com seeks regulation as a lender to avoid SEC. Prosper has asked to become regulated as a lender to ease the regulatory burden of being regulated as an investment firm. http://bit.ly/FINOVATE6113
Micronotes Pushes Forward on Plans to Drive Advertising Revenue from Online Banking
I checked in last week with Christian Klacko of Micronotes to see how they’ve been doing this past year.
Glen Urban, MIT Professor of Marketing and the former dean of the MIT Sloan School of Management.
Drazen Prelec, leading behavioral economist at MIT
Tom Burgess, serial marketing entrepreneur and former CEO of Third Screen Media
Consumer brands pay bank customers for engaging with them through the MicroInterview and banks earn a revenue share for each completed interview.
The interview questions appear at the end of an online banking transaction. Upon completion of the MicroInterview, the cash back amount is transferred into the customer’s account.
Since its Finovate debut, the company has completed 2 field trials and grown its customer base to include both national (e.g. Sears, Barnes & Noble, Marriott) and local brands. Micronotes is also in trial with several banks and expects to bring more financial institutions on board in 2010.
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