Using prequals

6. Upstartwww.upstart.comPalo Alto, CA

• What it does: Upstart is an online lending platform that goes beyond the FICO score to finance people based on signals of their potential lending credibility including schools attended, area of study, academic performance, and work history. The company offers 3-year fixed interest loans, whose funds can be used for starting a business, paying for a coding bootcamp, eliminating student debt, or paying off credit cards.

• Why it’s hot: Their proprietary underwriting model identifies high-quality borrowers despite limited credit and employment experience.

• Customers: Upstart is used by consumers and small businesses.

• Bottomline: Upstart is an online lending platform that uses data to bring together high potential borrowers and investors.

Silicon Valley figured this out.  The original idea was a vendor just focused on MBA students fr loans because they had the lowest default rates.  u the technique can be applied anywhere as long as the borrow knows the rules and can enhance his credit scores with tech help, robotic budgeting.

We are moving toward cash in advance, and when that is achieved we deploy S%L automated pit bosses.

Everyone is talking about the Silicon Valley invasionof Wall Street.  Here is one:

PERSONAL INVESTING

9. Wealthfrontwww.wealthfront.comPalo Alto, CA

• What it does: Wealthfront provides online money management. It’s an automated investment service that manages a diversified and rebalanced portfolio of index funds at the low cost of only 0.25% per year.
• Why it’s hot: One of the more entertaining FinTech battles is betweenSilicon Valley FinTech Wealthfront and NYC FinTech Betterment. Both are disrupting traditional investment companies like Schwab and Vanguard. But Wealthfront’s leadership in the robo-investing segment of financial services shows that Palo Alto can do online personal finance as well as, or better than, Wall Street.
• Customers: Wealthfront has achieved over $2.6B in managed assets with higher individual account averages than its competitors.
• Bottom line: Banks should investigate if Wealthfront could be a partner to expand its online customer base and/or a way to compete on cost as investment fees decline.

Wealth management.  The way it work is little people vote to give all the new tech to wealthy people.  Here is one example:

10. SigFig
www.sigfig.comSan Francisco, CA

• What it does: An intelligent, mobile software that allows anyone to build a sleek, intelligent portfolio for the fraction of the cost of a financial advisor- though they do have a full concierge service available as well.
• Why it’s hot: If one company is bringing the competition to banks rather than solutions for them, it’s SigFig. SigFig is a new kind of investment company, using science and data to help everyday investors invest better.
• Customers:  SigFig delivers reports and guidance to more than 750,000 investors.
• Bottomline:  SigFig is the easiest way to manage your money – simply connect your accounts and they will tailor a portfolio based on your goals. 

Intelligent agent hiding in your wallet. I suspect it is an internet hot wallet, not a handheld, but that soon changes.:

PERSONAL FINANCE

11. NerdWalletwww.nerdwallet.comSan Francisco, CA

• What it does: NerdWallet provides financial education and empowerment via online tools, research, and real-life experts to help people take control of their finances.
• Why it’s hot: When it comes to credit cards, bank accounts, mortgages, insurance, loans, or expenses like hospital costs and medical bills, consumers make almost all their decisions in the dark. NerdWallet gives consumers and small businesses clarity around all of life’s financial decisions with free, accessible tools, research, and expert advice.
• Customers: NerdWallet is targeted toward consumers and small businesses.
• Bottomline: No matter what your financial situation, NerdWallet is designed to help the everyday consumer and small business to develop and implement the necessary, financial habits to work toward becoming debt-free.

Another. Again the idea is to provide steps to a pre-qual score that gets you cash in advance at some level.  sh in advance is a theoretical necessity, it allows the currency issues to automate and stay that one step ahead of the deposit/borrow queues. 

12. Dyme
www.dyme.coSan Francisco, CA

• What it does: Dyme helps people keep their hard-earned cash away from being spent in their checking accounts, turning spenders into savers, using text messages and unique tone/voice. Bank accounts are for paying bills and the Dyme account is for paying the saver. Dyme works with a customer’s existing bank, is simple to set up, and it’s free.
• Why it’s hot: Dyme is engaging smart ways to approach finance by understanding how to motivate the consumer to save using fun and funny ways to get their attention.
• Customers: Consumers.
• Bottomline: Dyme makes building savings simple and promotes financially healthy habits.

What is missing in Silicon Valley?

Pure cash botnets, direct support for the no arbitrage cash layer of sandbox. I guess we have Telegram for that.