Envestnet, EVERFI Drive Financial Literacy; Lessons in Digital Transformation


The 2019-2020 school year has been one of the many casualties in the fight against the coronavirus. While there have been some areas where student life has been relatively unchanged, for thousands of students around the world – from the youngest grades through collegiate ranks – learning has been disrupted significantly.

Financial education has suffered as well – which makes the newly-announced partnership between fellow Finovate alums Envestnet and EVERFI good news for the cause of financial literacy. The two companies have teamed up to provide clients and families of advisor customers with complimentary access to digital financial literacy courses.

“At a time when schools around the nation are closed, we are providing students and their parents with fun, interactive digital resources that can bring them closer together as families, while making progress toward financial wellness,” SVP and Head of Envestnet Wealth Marketing Kimberly Beck said. “We are there to provide advisors, clients, and their families with financial insights and learning at every point in their schooling, and their careers.”

Envestnet unveiled its first two digital financial literacy courses: Marketplaces and Vault, and noted that 20 additional courses from EVERFI also will be made available for a limited time. Marketplaces is directed toward high school students and helps them understand the global and real-world forces that can impact an investment portfolio. Vault enables elementary school age students to develop responsible decision-making skills using real-life financial scenarios such as creating a budget and goal-setting.

Envestnet most recently demonstrated its financial data management technology at FinovateFall last year. EVERFI made its Finovate debut a year ago at FinovateSpring, presenting its financial wellness solution, EVERFI Achieve.

Fintech in Extraordinary Times: Finovate Podcast and Learning Lessons from Leaders

In his latest Fintech in Extraordinary Times podcast, host Greg Palmer talks with fintech expert and author of the new book, Doing Digital: Lessons from Leaders, Chris Skinner.

Chair of the European networking forum, The Financial Services Club and Nordic Finance Innovation, Skinner is a well-known, independent voice on fintech and the financial markets. He maintains a blog, the Finanser.com, where he shares his insights and observations.

What are the challenges that financial institutions face in pursing digital transformation at a time of renewed uncertainty? How will fintech respond the new needs of small businesses, savers, and consumers in the current environment? Join the Finovate podcast and hear where the industry’s best analysts see fintech headed next.

Here is our weekly roundup of news from our Finovate alums.

  • Realrates goes live with RealCheck, a free credit affordability checking service, courtesy of a partnership with AccountScore.
  • Fenergo introduces remote access opening solution in the EMEA.
  • SecuredTouch takes home Best Product award at Loyal Security Association conference.
  • BlueRush launches COVID-19 personalized video library microsite featuring best safety practices for dealing with the coronavirus pandemic.
  • RedRock Biometrics partners with HYPR to provide palm-based authentication.
  • YUKKA Lab joins accelerator F10’s incoming class.
  • Jack Henry & Associates has helped banks process 38k+ in PPP Loans, totaling $4+ billion in potential funding.
  • ThetaRay selected as winner of the “Best Fraud Prevention Company” in FinTech Breakthrough Awards program.
  • Revolut partners with Adzooma to boost benefits for business customers.
  • Plinqit has helped users save more than $1 million since launch.
  • Azimo announces free money transfers to Nigeria to help support remittance flows during the global pandemic.
  • FIS to power core banking tech for Bambu’s U.S. launch.
  • ndgit and Neonomics partner to enhance access to payments and account data.
  • Transferwise relaunches transfers to Colombia.
  • Meniga sees fivefold increase in new installs of its PFM app.
  • Payfone launches mobile authentication in U.K.
  • Lendio to help Mindbody’s fitness, wellness, and beauty business customers access SBA’s PPP funds.
  • Brattleboro Savings & Loan selects NCR for digital banking.
  • DeutscheBank extends contract with Avaloq to 2028.
  • Finovate Best of Show winner Sonect earns spot in Fintech Europe’s incoming incubator class.

Finovate Alumni Features and Profiles

Taulia Teams Up with J.P. Morgan on Trade Finance – The collaboration will enable J.P. Morgan to build a “unique and differentiated” trade finance solution for its clients, giving them the ability to onboard a wide range of supplier types and sizes. 

FIS’ New Venture Arm Unveils Plan to Invest $150 Million in Fintechs – The Florida-based company is targeting a goal to invest $150 million in fintechs over the course of the next three years.

Finovate Alums Earn Top Honors in Wealthtech 100 –  The collection of companies is meant to represent the most innovative businesses operating in the wealth and asset space worldwide.

How One Bank-Fintech Partnership is Working for Small Businesses – After seeing how both banks and businesses were grappling with the application process, digital transformation expert and multiple-time Finovate Best of Show winner MX stepped in to help. 

Motif Investing to Close its Doors – The company notified users via email on April 17 in a message saying, “At this time, we’ve made the decision to cease operations and transfer your account to Folio Investments.”

Micro Investment Platform Stash Secures $112 Million – The round, which also involved existing investors Union Square Ventures, Breyer Capital, Goodwater Capital, and Greenspring Associates, gives the company $300+ million in total capital and boosts the firm’s valuation to more than $800 million.

Personalization and One-to-One Communication – Gregg Hammerman has seen first hand what works when it comes to personalization. In fact, in 2012, he launched a company built around the entire premise of personalization.