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5 Finance Startups You Should Know

September 20, 2013
Investing
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We adhere to strict standards of editorial integrity. Some of the products we feature are from our partners. Here’s how we make money.

For the past three years, Fintech Innovation Labs has helped early and growth stage financial services technology startups develop. Startups selected for the Fintech Innovation Lab receive mentoring from top financial firms and VCs. At the end of the 12-week program, they have a Demo Day where they make presentations to the press and investors. Since it has been a few months since Fintech’s class of 2013 had their Demo Day, NerdWallet thought it would be a good idea to get updates from some of the hottest finance startups around.

Dashlane

You probably have different passwords for all of your accounts. If you don’t, you probably should. But unless your name is Cam Jansen, you probably have trouble remembering all of your passwords. Dashlane acts as a digital wallet and password manager, so you never have to click “Forgot Your Password?” ever again.

Since graduating from Fintech Innovation Labs, Dashlane has strengthened its partnerships with financial institutions, according to Senior Marketing Manager Ryan Merchant.

“We’ve come up with use cases for improving customer experience around discovery of card-linked offers, redemption of rewards points, and card activation and usage on the web. Customers can get these benefits from their bank in the form of a secure app that helps them manage their digital life, and the bank, of course, gains by being able to engage and connect with that customer in a contextual way.

“These conversations are taking place in parallel with our work on the consumer product. We’ve seen amazing engagement from our users; the average user stores over 90 passwords in the app and spends over $7000 annually shopping online with Dashlane. The feedback we’ve received during Fintech Innovation Labs confirmed our beliefs that amazing user experience is key to growth, so that’s our focus for the standalone product, as well as any partnerships we enter.”

ScrollMotion

Instead of screaming at your salespeople to drive sales, maybe you should talk to the folks at ScrollMotion instead. ScrollMotion is a SaaS company that offers a platform for sales, marketing and training communications on tablets. The help companies streamline inefficiencies and increase production.

ScrollMotion’s Vice President of Marketing, Mark Blessing, felt Fintech Innovation Labs was crucial to ScrollMotion’s success:

“Being selected to participate in the Fintech program was a great opportunity for ScrollMotion. Prior to FinTech, we were unclear how to apply our successes in other vertical markets to meet the particular needs of financial institutions.  The FinTech program provided opportunities to receive mentoring from senior technology and business professionals from some of the largest firms on Wall Street.  The advice we received through the program was invaluable in helping us understand and articulate the value we bring to financial services firms.

“Beyond advice, our participation in FinTech led to several proof of concept opportunities for the ScrollMotion Enterprise Platform. We are already applying what we learned in the program to help financial services firms create, distribute, integrate and learn from interactive tablet apps, without the need for scarce tablet programmers or additional IT infrastructure.”

BillGuard

If you’ve ever seen a mysterious charge on your credit card statement, you should use BillGuard. BillGuard is a personal finance security company that alerts users to bad chargers. People are often victims of “grey charges,” which are charges such as subscriptions you signed up for, but meant to cancel or other charges you might not notice. BillGuard uses data analytics to identify instances where you might be subject to a grey charge. Using BillGuard’s new self-learning iPhone app, once you see an unwanted charge, you can directly dispute the charge within the app.

Digital Reasoning

Digital Reasoning is further evidence that robots will soon take over the world. With their Machine Learning Platform, Digital Reasoning helps computers think more like humans. They are able to take large amounts of data, determine what is important and finally come up with a conclusion. Digital Reasoning is able to help locate insider trading and help finance professionals make better decisions.

Openfin

You’re still manually installing software on your computers? What is this 1995? Openfin provides runtime technology for financial desktops, so that financial desktop applications are instantly deployable, interoperable and cross-platform. Openfin is also secure, so you don’t have to worry about compliance issues.

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