FinDEVr APIntelligence

FDLD17_EventLogoV1_wdate(large) (1)We saw some great stuff at FinDEVr New York earlier this year. If you missed out, check out FinDEVr London on June 12 & 13 during London Tech Week. Register today and save big time.

On FinDEVr.com

  • FinDEVr Veteran OutsideIQ Acquired by Exiger

Alumni updates

  • Plaid and Dwolla partner to provide fully-tokenized ACH payment integration.
  • Xero features its partnership with Equifax.
  • London Metal Exchange locates LMEselect Platform at Interxion’s Data Center
  • Envestnet unveils expanded data analytics portfolio for wealth management.
  • FinDEVr Alum Quovo Raises $10 Million
  • Prival Bank of Panama to deploy Temenos’ core banking solution, T24.
  • Trulioo adds new Canadian data sources to its GlobalGateway verification technology.
  • Jay Shah promoted to CEO of Personal Capital
  • Xero awarded the Best Overall Fintech Platform by the Fintech Breakthrough Awards.

Stay current on daily news from the fintech developer community! Follow FinDEVr on Twitter.

FinDEVr APIntelligence

We saw some great stuff at FinDEVr New York last week; stay tuned for videos of the live presentations! If you missed out, check out FinDEVr London on June 12 & 13 during London Tech Week. Register today and save big time.

On FinDEVr.com

Alumni updates

  • FinDEVr New York newcomer Fiserv announces enhancements to its real-time, loan servicing solution, LoanServ.
  • Swiss financial sector infrastructure operator SIX partners with IBM Watson to build cyber-security hub.
  • PYMNTS.com looks at speculation that Kabbage may acquire OnDeck.
  • BBVA among the latest companies to join Hyperledger.
  • MasterCard introduces new fraud detection solution, Decision Intelligence.
  • Credit Donkey lists StockTwitsDriveWealth, and Personal Capital among its Best Investing Apps of 2017.
  • Forrester recognizes FinDEVr newcomer Outsystems as a leader in low-code development platforms.
  • E-commerce services from Vantiv achieve Oracle Validate Integration. Video of Vantiv’s FinDEVr 2017 New York presentation will be available soon.
  • VISA to enable electronic business payments for SME clients of B2B electronic invoicing network, Viewpost.
  • Fiserv reports nearly 30 banks and CUs deployed its digital banking technology in 2016, taking the total number of FIs using its online banking solutions to 3,500.

Stay current on daily news from the fintech developer community! Follow FinDEVr on Twitter.

Personal Capital’s Growth Leads to Additional $25 Million in Funding

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Digital advisory service and wealth management firm Personal Capital is closing out 2016 by adding another $25 million to the $75 million in equity investment the company took home from IGM Financial in May. Today’s funding was part of a contingency from investor IGM Financial that stated Personal Capital had to reach a certain growth milestone by Q2 of 2017. Since the California-based company exceeded the specified growth target, the funds were distributed early, just in time for the new year. This closes Personal Capital’s Series E round, increases its 2016 funding to $100 million, and boosts its total funding to just over $175 million.

“IGM Financial has been a great investor,” said Bill Harris, CEO of Personal Capital. “Over the past six months, we’ve been able to grow marketing, staffing, and offerings to our users and clients. With the final $25 million in investment secured, we look forward to seeing even more growth as we help more families manage their financial lives.” The company used the initial $75 million to increase its marketing efforts and hire new staff across its offices in San Carlos, San Francisco, and Denver.

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Above: Personal Capital’s Ravi Gundlapalli (Director of Engineering, Frontend) and Ehsan Lavassani (Founding Engineer and Chief Engineering Officer) presenting at FinDEVr Silicon Valley 2016

The new investment lifts Personal Capital’s valuation to around $500 million. That’s double what the company’s valuation was after its Series D funding round closed in 2014 and $200 million shy of competitors’ valuations. Betterment and Wealthfront (pure roboadvisory plays), as well as SigFig (a hybrid roboadvisor) each have valuations of $700 million.

In addition to the funding from IGM Financial, Personal Capital has received a $25 million line of credit from Silicon Valley Bank. With regard to the credit, Mike Armsby, CFO of Personal Capital says it will help the company “spur rapid growth in the New Year.”

Personal Capital delivers financial planning and investment portfolio management services. The company combines high tech with high touch by blending a non-biased, algorithmic investing approach and conversations with real, human advisors via video chat. Personal Capital has added $1.5 billion in AUM in 2016. This represents 80% growth in less than 12 months and brings the company’s total AUM to $3.4 billion. In addition, Personal Capital offers a free, account aggregation tool to help its 1.3 million registered users view all of their accounts in one place.

Personal Capital most recently presented at FinDEVr Silicon Valley 2016, where the company’s founding Engineer and Chief Engineering Officer, Ehsan Lavassani, talked about data-driven account opening. At FinovateSpring 2014, CEO Bill Harris and Chief Product Officer Jim Del Favero debuted One Click Investment Proposals.

FinDEVr Preview: Personal Capital

FinDEVr PreviewsFinDEVrSV16-withdate highlight companies presenting new developer tools, platforms, and integrations at FinDEVr Silicon Valley 2016, October 18 & 19. Tickets are on sale now. Visit our registration page and save your spot today.

Personal Capital will show how by enabling both the user and her advisor to see the same holistic financial picture, we have transformed the traditional “opening and funding of an account” transaction into a natural conversation about the best way to implement a financial plan.

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Why it’s a must-see
If you are interested in this user story then join us: As a FinTech developer, I want to build a product that leverages all of users’ financial, goals and profile data and make their account opening process conversational and collaborative.


Check out more of today’s FinDEVr Previews:

FinDEVr APIntelligence

FinDEVrSV16-withdateOur FinDEVr New York developer showcase was a success! FinDEVr Silicon Valley will be held October 18 & 19 in Santa Clara. Register today and save.

On FinDEVr.com

Alumni updates

  • Thomson Reuters unveils its KYC due diligence solution, Org ID.
  • Personal Capital Offering Digital Wealth Management for BancAlliance’s Member Banks.
  • Trulioo extends its identity verification platform, Global Gateway, to the Middle East and North Africa.

Stay current on daily news from the fintech developer community! Follow FinDEVr on Twitter.

FinDEVr APIntelligence

FinDEVrSV16-LogoV2(wdate)Our FinDEVr New York developer showcase was a success! FinDEVr Silicon Valley will be held October 18 & 19 in Santa Clara. Register today and save.

On FinDEVr.com

  • Markit Agrees to Acquire Prism Valuation.
  • Goldman Sachs Leads $44 Million Investment in Plaid.
  • Mambu Unveils FinTech Startup Program.

The latest from FinDEVr New York 2016 presenters

  • Personal Capital Brings on Former Yodlee CFO.
  • FICO acquires cybersecurity firm QuadMetrics, announces plans for “enterprise security scores.”

Alumni updates

  • Let’s Talk Payments asks if fintech startups should be able to access bank data in the wake of Plaid’s $44 million Series B.
  • MX Adds Cash Flow Feature to MoneyDesktop Platform.
  • Trulioo expands to South America as part of Canada’s Fintech Mission to Brazil.
  • Thomson Reuters named 2016 European Tax Technology Firm of the Year by International Tax Review.

Stay current on daily news from the fintech developer community! Follow FinDEVr on Twitter.

FinDEVr APIntelligence

FinDEVrSV16-LogoV2(wdate)Our FinDEVr New York developer showcase last week was a success! FinDEVr Silicon Valley will be held October 18 & 19 in Santa Clara. Register today and save.

Developer news:

  • Magic Leap to give 10 Twilio devs early access to its SDK.

On FinDEVr.com:

  • Fintech Developers, Lock in Presale Savings for FinDEVr Silicon Valley.

The latest from FinDEVr New York 2016 presenters:

  • OnDeck adds to credit offerings available to Canadian small businesses.
  • Markit unveils compliance solution to help meet new FRTB, market risk capital requirements.

Alumni updates:

  • Trulioo’s GlobalGateway Available in BRIC Countries.
  • Kabbage Reaches $2 Billion in Loans in 5 Years.
  • TechCrunch column on APIs features Plaid, and Twilio.
  • CardFlight Adds Global Payments as EMV Processor.
  • New Investment for Personal Capital Takes Valuation to $500 Million.

Stay current on daily news from the fintech developer community! Follow FinDEVr on Twitter.

FinDEVr APIntelligence

FinDEVrNY16-V2(wdate)We’re taking our FinDEVr developer showcase to New York on March 29 & 30, 2016. Register today.

Developer news:

The latest from upcoming FinDEVr New York 2015 presenters:

  • PayStand to Power New Online Payments Service from ONE UP.
  • Xignite announces its XigniteGlobalCurrencies API is now available in the Oracle Cloud Marketplace.

Alumni updates:

  • PYMNTS reports: Worldpay transactions up 14% post-IPO.
  • Mitek launches Mobile Deposit in the U.K. with other countries to follow.
  • CardFlight integrates with Stripe to encourage developers to build EMV payment functionality within their mobile apps.
  • Xero extends partnership with MidPoint to make cross-border procurement easier.
  • Personal Capital Exceeds $2 Billion AUM.

Stay current on daily news from the fintech developer community! Follow FinDEVr on Twitter.

FinDEVr APIntelligence

FinDEVr2016-NY-(Stacked)V2

Building a new financial technology? Check out our coverage from our developer conference in San Francisco this fall, and mark your calendars for our spring developer event in New York, March 29 and 30, FinDEVr 2016.

Developer news:

  • BankNXT interviews Stefan Weiss, head of APIs at Fidor Bank, on the APIs, regulation, and expansion.
  • American Banker quotes Simon Redfern, founder of the Open Bank Project, in a look at the drive for open bank APIs in the U.K.

The latest from FinDEVr San Francisco 2015 presenters:

  • Kashoo launches period locking feature to lock data within prescribed timeframes.
  • CenturyLink and Cogent enter into interconnection agreement.
  • Deluxe Corporation celebrates its 100th birthday by ringing the opening bell at the NYSE.
  • Entrust Datacard’s Kurt Ishaug named 2015 CFO of the Year by Minneapolis-St. Paul Business Journal.
  • The TRADE names Markit to its Hall of Fame.
  • Personal Capital lowers investment minimum from $100,000 to $25,000.

Alumni updates:

  • PRUDENA launches online marketplace for stock market research.
  • StockTwits offers brokerage functionality powered by Robinhood.
  • CardFlight announces EMV approval and certifications via TSYS for mPOS solution.

Stay current on daily news from the fintech developer community! Follow FinDEVr on Twitter today!

FinDEVr Live: Personal Capital Describes Data-Driven Retirement Planning

PersonalCapitalHomepage

personalcapital.com | techblog.personalcapital.com | @PersonalCapital

PersonalCapitalLogoPersonal Capital is a next generation financial advisor, named by CNBC as a “Top Disruptor” for our innovative approach to wealth management. Our award-winning free tools and mobile apps give clients a complete picture of their net worth, and we offer comprehensive financial advisory services previously only available to the ultra-wealthy. This combination of high-tech and high-touch drives our ability to deliver truly personal and objective wealth management for the Internet and mobile age. We believe this is the best way to empower individuals and their money.

Data-Driven Retirement Planning:
Presenting the inner workings of a truly data-driven retirement planner created by leveraging user’s aggregated financial data, enhanced by machine learning and personalized by user’s life events and goals. We will discuss how the investing and financial planning strategies are triggered to update as the user moves through different stages of her life and makes changes to her spending and saving behaviors. Finally, we will show how this functionality is visualized through a UI that makes sophisticated algorithms and complex data easy to use for any user, regardless of investing knowledge.”

Key takeaways

  • How we employ machine learning techniques to forecast growth of a user’s portfolio and
    estimate available retirement spending
  • How we create a connected ecosystem that allows a user and his/her dedicated advisor to collaborate on the same financial data and retirement plan
  • How we use AWS infrastructure to supercharge our data-driven retirement planner

Presenters:

personalCapital_findevr

Fritz Robbins, CTO
LinkedIn | @fritz_robbins | fritz@personalcapital.com
Fritz Robbins is the CTO of Personal Capital, responsible for definition and execution of the technology roadmap and leadership of the technology teams. He has previously led technology and engineering efforts at Wells Fargo, Excite@Home, RSA Security, and elsewhere.

Ehsan Lavassani, VP Engineering & Founding Engineer
LinkedIn | @EhsanLavassani | ehsan@personalcapital.com
Ehsan Lavassani is Personal Capital’s VP Engineerying and its first employee. He architected Personal Capital’s core systems from ground up and formed its world-class engineering team. Previously, he was one of the main architects of RSA’s Adaptive Authentication system.