TrustEgg, a Y Combinator-backed startup which lets parents set up trusts for their children is actually launching. That’s a milestone in and of itself, because, as a financial services company, it had been facing a lot of regulatory hurdles. The company has also recovered from the loss of its first co-founder, Gabe Krambs, who left CEO Jeff Brice to take a job that paid the bills. It has since… → Read More
Today the USPTO published an Apple patent application that ventures a little farther afield than most, and describes a mobile banking concept that is truly innovative, which could essentially turn iTunes into a micro-lending bank. The patent outlines a system whereby a user would post requests for small amounts of cash using their iPhone, which other nearby users could respond to to provide some… → Read More
Bync, a new startup launching today, will sync with your bank and credit cards in order to provide you with more relevant deals, offers and coupons which are sent out via email. You can think of it as the daily deals email that you actually want to read. The company began its life as Budgetable, a more comprehensive personal finance suite similar to Mint.com, but with offers. However, following… → Read More
Online and mobile digital cash network Dwolla is partnering with mobile banking and payments service provider mFoundry, the companies are announcing today at the BAI conference in Washington, D.C. This is Dwolla’s first publicly announced partnership with a financial service provider, and the deal opens its service up to mFoundry’s 800+ banks and credit unions using its cloud banking platform… → Read More
TrustEgg, the Y Combinator-backed startup which will allow anyone to set up a trust for their children without expensive legal fees or detailed financial know-how, is finally moving towards launch by opening up access to their beta list today. The startup, like many of those in the financial services space, has faced a number of regulatory hurdles which has caused slowdowns, as well as the loss of… → Read More
BancBox, a startup that’s been flying under the radar over a year, is launching its new payment services platform today. At first, you might think the most apt comparison is that of Stripe, which also offers a developer-friendly way to accept payments on web and mobile. But BancBox goes much further than transactions. The platform lets developers build all sorts of payment services within their… → Read More
A major milestone for disruptive payments platform Dwolla: the company has just switched on FiSync, its real-time money transfer system which aims to replace the outdated – and much slower – ACH process. ACH, or Automated Clearing House, is the traditional means for making electronic payments here in the United States. A 40-year old system, ACH enables money to move from Bank A to Bank B, but the… → Read More
Simple (formerly known as BankSimple), the startup with $13.1 million in funding to build a better banking experience for customers, has today introduced its first mobile application, surprisingly ahead of its public launch. Operating in private beta/invite-only mode for now, co-founder Joshua Reich says that anyone with a Simple account can now use the app, which had been limited to TestFlight… → Read More
San Francisco-based BankOns, an early stage mobile startup, has been purchased by Capital One and will now be incorporated into Capital One’s Digital Labs. This very young company was founded in summer 2010, and launched in May 2011, with the aim of offering tools that would allow banks to reward users based on their geo-location and their purchase history.
Investors in the company include… → Read More
Wave Accounting Inc. has just closed $5 million in financing, in a Series A round led by Charles River Ventures, with the participation of OMERS Ventures. The financing will be used by the company to continue the development of its free online accounting software for small businesses and market it internationally.
Wave is a completely free (not freemium, but free) accounting package that… → Read More
Whoops. Fox News is reporting that the World Bank is smack-dab in the middle of what “may be the worst security breach ever at a global financial institution.” It’s not really clear what exactly has happened but it is clear that this isn’t the first time that the bank has had problems with its cyber security and that some of the more serious past intrusions have come from IP addresses… → Read More
Get this. You know how when you have to confirm your bank account with, say, Paypal or Google Checkout or any number of online services that want to make sure the bank account that they’re going to be depositing money into belongs to you? So you’ll generally receive two small deposits — pennies each — that you’ll have to confirm, right? Well some guy used an automated… → Read More
Cingular is looking to break new ground by offering its customers the ability to do their banking via a mobile phone. Apparently Cingular is currently beta-testing this new program which would enable customers to check their account balance, transfer funds, and pay bills with their phone. However Cingular has no firm deals made with banks, which means it could be Wachovia, it could be Bank of… → Read More
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