EyeLock Partners with ViaTouch to Bring Iris Authentication to Smart Shelf Vending

Iris-based biometric authentication specialist EyeLock has signed an agreement with ViaTouch Media that will integrate EyeLock’s iris recognition technology within ViaTouch’s smart-shelf vending solution, Vicki.

Calling the new partnership a “major breakthrough,” EyeLock CEO Jim Demitrieus said the agreement was the culmination of years of working with leaders from a variety of industries to bring embedded security solutions to market. “This win is indicative of the many potential commercialized applications for iris authentication,” Demitrieus said. “The ViaTouch partnership underscores an innovative approach to protecting consumer identity and transaction security.”

EyeLock’s iris authentication will be deployed as part of the interface for Vicki (ViaTouch Intellishelf Cognitive Kinetic Interactions), a smart shelf vending machine with an AI-enabled shopping assistant. Formerly known as Lisa, Vicki engages consumers by authenticating them, learning their preferences, providing loyalty, rewards, and discounts, and using smart shelf technology to note what products shoppers are viewing as well as  which they are selecting and deselecting. The virtual clerk-powered machine communicates using directional speakers so that only the person standing in front of it can hear the conversation.

The company said EyeLock-enabled machines will be available early in the second quarter of 2018. ViaTouch Media CEO Tom Murn said the solution, which will be operated on First Data online payment networks, will “create the most secure AI iris authentication self-checkout payment solution in the world.”

Founded in 2006 and headquartered in New York City, Eyelock demonstrated its USB-powered Iris Identity Authenticator, myris, at FinovateFall 2014. A majority-owned subsidiary of Voxx International Corporation, the company announced a trio of new patents last month, affirming the company’s innovations in iris and facial imaging, biometric matching, and visual guidance in gaze alignment.

“We continue to achieve significant technical breakthroughs that have served as significant barriers to market-wide adoption of iris authentication technology,” EyeLock CTO Jeff Carter said. “With each successful patent, we are able to expand our IP to deliver the fastest, most cost-effective and easy-to-use solutions that our end users require.”

EyeLock has spent much of 2017 forging major partnerships that will bring its full suite of hardware and software access control solutions to customers throughout North America and around the world. In October, EyeLock teamed up with Australian security solutions vendor, CSD (Central Security Distribution), and in August, the company signed a licensing agreement that will enable the company to build iris authentication solutions for Qualcomm Technology’s Qualcomm Mobile Security platform. A May partnership with STANLEY Security, an integrated security solutions provider and division of Stanley Black & Decker, rounds out a busy year of partnerships for EyeLock.

Rising in the East: Asian Fintech Startups Shine in Showcase

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From lending and P2P payments to the blockchain and AI, fintech companies and entrepreneurs in Asia are innovating in every area of fintech. The unique cultures of the Far East – increasingly mobile-friendly, cash-agnostic, and with fewer legacy financial institution incumbents and more willing government support – create a set of opportunities for businesses and technologies that are unlike those anywhere else in the world.

So who are the companies taking advantage of this new landscape for fintech in Asia? This year at FinovateAsia we highlighted some of the rising fintech startups from the Asia-Pacific region in our Startup Showcase. Through the lens of some of the area’s most engaged incubators and accelerators, we got a glimpse of what the future holds for fintech in Asia. Below are the four incubators and accelerators that participated in our Showcase, along with their respective portfolio companies.


With more than 900 technology companies, Cyberport is a Hong Kong-based digital community. Cyberport’s emphasis on fintech, ecommerce, IoT/wearables, and Big Data/AI is designed to help transform Hong Kong into a Smart City. Initially conceived in 1999, Cyberport is owned and managed by the Hong Kong Cyberport Management Company, which is owned by the Hong Kong SAR Government.

Notable startups:

  • Galileo Platforms is an insurtech innovator founded in 2016 and headquartered in Hong Kong. The company leverages blockchain technology to connect all parties of the insurance agreement efficiently and in real-time. The company’s principals are co-founders Annette King, Jenny Sutton, and Mark Wales.
  • With more than $18 million in funding, InstaReM is a cross-border remittance and money transfer startup based in Australia. The company was founded in 2014 by Michael Bermingham (COO) and Prajit Nanu (CEO).
  • Kristal.AI is an asset management platform, based on artificial intelligence, that gives investors access to independent advisors and portfolio managers. Vivek Mohindra, Asheesh Chanda, and Vineeth Narasimhan founded the company in 2016. Kristal.AI has offices in Hong Kong, India, and in Singapore.
  • Starling Trust Sciences provides financial services companies with a predictive behavioral analytics engine that leverages “augmented management intelligence” to help managers mitigate risk. Starling was founded in 2014 by Stephen Scott, Alif Saleh, Jeff Kupfer, and Erich Hoeffer.
  • Founded in 2016 and headquartered in Hong Kong, Valoot Technologies helps consumers save on foreign exchange costs when shopping with credit cards overseas. Ovidio (Ovi) Olea is founder and CEO.


FinTechBase Taiwan has more than 180 partners, more than 25 training teams, and 55 experts providing startups, financial professionals, and students with the counseling, guidance, and networking they need in order to become successful in fintech. Headquartered in Taipei, Taiwan, FinTechBase is a collaborative effort between industry, government, and research initially conceived in 2015.

Notable startups:

  • FundPark offers a P2B trade financing for SMEs. The match-making platform connects funding sources in the form of wealthy families, funds, and licensed lenders with businesses looking for working capital. Headquartered in Hong Kong, the company was founded by Anson Suen (CEO).
  • Quanffett Financial Technology Company is a robo advisor and trading platform for individuals and institutions. The platform uses financial engineering, algorithmic trading, and data science to help investors reach their goals with less risk and volatility. Chao-Yueh Liu is co-founder and general manager.
  • LnB, also known as Lend & Borrow, is the biggest P2P investment and lending platform in Taiwan. Founded in 2015 by Joanna Yang, LnB has acquired 26,000 members, and facilitated more than $120 million in loans within 18 months.
  • Leveraging gamification and competition to help users improve investment results, TOZZI’s platform enables new and inexperienced investors to develop a strategy and find top financial experts. Zac Yang is co-founder of the company.


Founded by Janos Barberis, SuperCharger seeks to help develop the “next generation of change-makers” through a combination of better business sense and optimizing human capital. SuperCharger focuses on a wide variety of fintech categories and verticals – from payments to lending to insurtech – and has offices in both Hong Kong and Malaysia.

Notable startups:

  • Neat offers an alternative current account for underbanked startups and individuals in developing markets. Founded in 2015 by David Rosa (CEO) and Igor Wos, Neat also provides a free, prepaid Neat MasterCard. The Hong Kong based company is the recipient of the ICT Fintech award 2017.
  • KYC-Chain leverages distributed ledger technology to provide a digital identity platform that allows users to manage their digital identity securely, while enabling businesses and FIs to access customer data reliably and efficiently. Headquartered in Hong Kong, KYC-Chain was founded in 2013 by Edmund Lowell (CEO).


Chinaccelerator has as its mandate helping startups succeed across borders – specifically the Chinese border. This means both helping companies around the world gain access to markets in China as well as enabling Chinese companies to better compete internationally. Chinaccelerator has accelerated 130 companies since inception, and includes early Paypal investor Peter Davison and 55tuan.com co-founder James Tan among its mentors.

Notable startups:

  • bitHolla develops cryptocurrecny financial tools to facilitate online trading, global money transfers and blockchain analysis. The company’s XRay Trade solution is a professional-grade trading station that enables access to some of the biggest cryptocurrency platforms in the world.
  • The CareVoice is the first, review-based social platform in China that helps consumers make more informed healthcare choices. The Shanghai-based company, founded in 2014 by Sebastien Gaudin, Neil Liang, and Jan Velich, includes AXA and Ping An among its customers.
  • With its pledge to help investors “outperform the property market with smart data,” Property Passbook’s data algorithms provide insights into 45 major real estate markets around the world. The company was founded in 2015 by Colin Bogar (CEO) and is headquartered in Shanghai, China.

Finovate Alumni News

On Finovate.com

  • TrueAccord Lands $22 Million to Humanize Debt Collection
  • Rising in the East: Asian Fintech Startups Shine in Showcase
  • BOKU to Raise $60 Million Ahead of London IPO

Around the web

  • UBS Card Center leverages AI technology from FICO to lower fraud write-offs.
  • D3 Banking adds new payment options, flexible card controls to its digital banking platform.
  • Thomson Reuters introduces new set of MiFID II reference data capabilities available on its data and analytics platform, DataScope.
  • Prosper Reports Third Quarter Growth; Closes $1.5 Billion of Securitizations in 2017
  • AngelList picks Quid as a top machine learning company.
  • Lighter Capital partners with Intuit to launch $15M fund for QuickBooks developers.
  • Blackhawk Network Expands Partnership with eBay to Provide B2B Gift Card Solutions

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Token Forges Strategic Partnership with Envestnet | Yodlee

Token and Envestnet | Yodlee are combining their respective talents in PSD2-compliant payments and financial data aggregation to give banks in the EU a new, open-banking friendly, payments and data option. The partnership will leverage Token’s open banking operating system, TokenOS, which supports PSD2 compliant payments, including bill pay, e-commerce, B2B payments and money transfers, with Envestnet | Yodlee’s Financial Data Platform and Aggregation API. Via the API, banks will get access to the bank, card, investment, loan, reward and other financial account data required to support a variety of PFM, wealth, and debt management apps and services.

Making the case for the alliance, Token CEO and founder Steve Kirsch said, “When it comes to PSD2, developers are not going to support hundreds of unique bank APIs; they will only write to one common API, maybe two. This means that banks that create their own proprietary APIs risk not being able to deliver the variety of freedom that customers expect in the digital age.” Kirsch characterized the kind of open banking platform that banks should support as “easy, secure, interoperable, low cost and developer friendly.”

Envestnet | Yodlee SVP for EMEA and Australia Jason O’Shaughnessy underscored Kirsh’s observations on the importance of open banking. “Both Token and Envestnet | Yodlee believe that open data access is critical to enabling innovative tools that can help consumers improve their financial lives.”

Founded in 2015 and headquartered in San Francisco, California, Token demonstrated its fully PSD2 compliant open banking solution at FinovateEurope 2017. The company also participated in our developer’s conference, presenting The Future of Payments Now at FinDEVr San Francisco 2015. Token was named to CB Insights’ Fintech 250 list in June, and began the year teaming up with information technology consulting and outsourcing company, VirtusaPolaris. Token has raised more than $18 million in funding, and includes EQT Ventures, Octopus Ventures, and OP Financial Group among its investors.

Acquired by Envestnet two years ago, Yodlee is a multiple-time Finovate Best of Show winner headquartered in Redwood City, California. The company took home top honors more recently for its demo of Financial Health Check financial wellness technology at FinovateFall 2017. A partnership with Home Credit India to digitize loan processing and an integration with Fannie Mae’s Desktop Underwriter Validation Service are among the company’s top headlines since the conference.

Envestnet’s technology and services are used by 16 of the 20 largest U.S. banks, 39 of the 50 largest wealth management and brokerage firms, and more than 500 of the largest Registered Investment Advisors. With a market capitalization of $2 billion, Envestnet trades on the New York Stock Exchange under the ticker symbol “ENV.” The company is headquartered in Chicago, Illinois.

Finovate Alumni News

On Finovate.com

  • Token Forges Strategic Partnership with Envestnet | Yodlee.

Around the web

  • ACI Worldwide to provide “technology backbone” for real-time payments platform designed by Payments Network Malaysia.
  • NCR partners with Samsung to launch new all-in-one POS commerce station, NCR Silver Quantum.
  • Grab chooses TransferTo to deliver real-time digital payments to its drivers in Southeast Asia.
  • Meniga wins London Design Awards for brand design experience.
  • PayPal’s TIO Networks suspends operations to protect TIO’s customers.
  • Kinecta FCU to Offer Mortgage Harmony’s CU RateReset products.
  • App Informers lists Credit Karma and Credit Sesame in list of top 5 Identity Monitoring Apps for 2017.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Qumram Acquired By Digital Performance Management Firm, Dynatrace

Digital performance management company Dynatrace has acquired Qumram, a digital interaction audit solutions provider, for an undisclosed amount, reports Antony Peyton of Banking Technology (Finovate’s sister publication).

With the addition of Qumram’s technology and intellectual property, Dynatrace said it will provide the ability to visually replay a user session within its existing platform. Qumram’s product will be re-engineered and will form part of an expanded digital experience analytics offering that will be announced early next year.

Patrick Barnert, Qumram CEO, praised Dynatrace as a clear compliment to Qumram’s  technology. “Dynatrace is unique in its ability to not only monitor highly complex digital ecosystems but see every user transaction. In addition, their AI-powered analytics is amazing, The technology fit is identical to what we believe at Qumram, where every user’s experience is captured, analyzed, and able to be replayed on demand.”

Dynatrace CEO, John Van Siclen, said via the deal it will offer “advanced behavioral analytics that will combine session replay with our unique artificial intelligence (AI) analytics capabilities”.

Dynatrace also plans to double Qumram’s existing engineering team in Barcelona in the coming year.

In a recent and separate development, Dynatrace is working with Rabobank “to monitor the real-time experience of every customer and user for all services” at the bank.

The project, says Dynatrace, “supports Rabobank’s vision to centralise and optimise company-wide application performance monitoring to future-proof customer experience”.

Founded in 2011 and headquartered in Zurich, Switzerland, Qumram demonstrated its regtech platform at FinovateFall 2016. This fall, the company announced that it would provide fully-compliant, mobile-to-mobile WhatsApp and WeChat conversation recording. In April, Qumram earned recognition as Best RegTech Company in the 2017 FinTech Breakthrough Awards, and in March, the company won Growth Stage Startup of the Year at the Swiss FinTech Awards 2017.

Tweets from the East: A Look Back at FinovateAsia 2017

FinovateAsia 2017 was a great success. On this, our second visit to Hong Kong, we learned a great deal about the growth of fintech in Asia, the rapid developments in specific fields like artificial intelligence and the blockchain, and how an interest in new areas like real estate and insurance will reshape what we have traditionally thought of as “financial services”.

In addition to more than 30 live technology demonstrations (congratulations to our Best of Show winners!), our keynote speakers and panel discussion participants added valuable insights that helped us keep all of these innovations in context.

We’re looking forward to coming back next year. For now, stay tuned for our demo videos from the conference, which should be available in a few weeks in our video archives. In the meanwhile, here is a quick look at some of the highlights of this year’s event via Twitter (@Finovate) as captured by the tweets from our attendees.


Finovate Alumni News

Around the web

  • ACI Worldwide supports cross-border e-commerce in Brazil with integration of payment processor and gateway, PagBrasil.
  • Revolut is the latest fintech to apply for a European banking license.
  • Fenergo teams up with Opus to improve integration of risk-relevant information in the KYC process.
  • KAMCO Investment Company chooses Fusion Invest from Finastra to accelerate growth.
  • Bluefin Payment Systems unveils PCI P2PE sub-listing option for users of its Decryptions as a Service (DaaS) offering, Decryptx.
  • Ping Identity adds support for companies seeking PSD2, open banking compliance.
  • Trustly tops €10 billion in total payment processing volume since inception.
  • Q2 Holdings named to Deloitte Technology Fast 500 for second consecutive year.
  • Stratumn completes a blockchain experimentation connecting 14 insurance companies in France.
  • nCino debuts in top half of Deloitte’s 2017 Technology Fast 500.
  • Scalable Capital hits €500 million in assets.
  • Checkbook.io disrupts class action payments.
  • Compass Plus assists Almazergienbank to support the issuing and acquiring of JCB cards.
  • NetGuardians and Swisscom launch fraud prevention service.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

Around the web

  • eToro taps George Verbitsky as managing director for Russia.
  • Stratumn tests use of blockchain technology in enhancing information flows for French insurers.
  • Xero and Worldpay partner to make invoicing easier for SMEs.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

FinovateAsia 2017 Best of Show Winners Announced

FinovateAsia 2017 is in the books. And after two days of live fintech demos from 32 innovative companies from around the world, our Finovate attendees have made their preferences known as to which companies should win Best of Show trophies.

One of the most interesting aspects of our Best of Show awards is how they provide an insight into which technologies are truly being put to work to solve real-world financial problems for financial institutions, merchants, and consumers alike.  Whether the challenge is making payments safer and easier, helping individuals and families meet their financial goals, or fighting fraud and cybercrime, the companies that earn Best of Show at Finovate conferences are the ones that have shown our attendees that they have the solutions that the rest of the competition is still searching for.

This is why it is no surprise that so many of the companies that have earned the title of Best of Show have made such a significant impact in fintech – either as an emerging industry leader in their chosen field or as the sought-after acquisition from a larger firm eager to leverage a specific set of skills to broaden their own ability to serve a wider range of customers.

So with no further ado, let’s take a look at the award winners for Best of Show at FinovateAsia 2017 (in alphabetic order):

AApay Technology for its unique payment app that enables consumers to automatically split bills and gives businesses access to multiple payment methods to better manage all of their electronic transactions.




Bambu for its machine learning model, People Like Me, that goes beyond traditional roboadvisory to help users better identify and reach their financial goals.


OCR Labs for its Orbit ID SDK that enables enterprises to stop fraud, reduce friction during the onboarding process, and help manage KYC/AML obligations.







YUKKA Lab for its technology that leverages neuro-linguistic programming and machine learning to provide real-time analytics into the financial markets.





We hope you enjoyed FinovateAsia 2017 and our new expanded format including panel discussions and keynote speeches from major fintech thought leaders. We had a great time bringing our fintech conference to Hong Kong for a second year in a row, and are looking forward to being back again next year. As always, a thousand thanks to all those who attended, sponsored, partnered with, and demoed their latest and greatest innovations live on stage. We’ll see you again in 2018!

Notes on methodology:
1. Only audience members NOT associated with demoing companies were eligible to vote. Finovate employees did not vote.
2. Attendees were encouraged to note their favorites during each day. At the end of the last demo, they chose their three favorites.
3. The exact written instructions given to attendees: “Please rate (the companies) on the basis of demo quality and potential impact of the innovation demoed.”
4. The four companies appearing on the highest percentage of submitted ballots were named “Best of Show.”
5. Go here for a list of previous Best of Show winners through 2014. Best of Show winners from our 2015 and 2016 conferences are below:
FinovateEurope 2015
FinovateSpring 2015
FinovateFall 2015
FinovateEurope 2016
FinovateSpring 2016
FinovateFall 2016
FinovateAsia 2016
FinovateEurope 2017
FinovateSpring 2017
FinovateFall 2017