FinovateAsia Begins This Week– Are You Ready?

Fintech in Asia is hotter than ever, with Asian fintech startups seeing record funding this year. This week is your chance to see which new technologies are shaping the region. FinovateAsia launches on Tuesday, November 7 and extends through Wednesday, November 8 (tickets still available). The two-day conference will host demos showcasing the newest ideas in fintech, plenty of networking, and lots of interactive discussions with industry experts to answer your questions about the latest trends.

To keep you organized, here’s everything you need to know at-a-glance:

When
On Tuesday, November 7, registration opens at 8 a.m. and opening remarks will begin at 9 a.m. We will have refreshments and a continental breakfast available, so be sure to come early to save your seat.

Where
The show will take place at the J.W. Marriott Hong Kong. Check out our website to plan your visit.

Presenting companies
You can find a full list of presenting companies on the Finovate blog. And be sure to take a look at our Sneak Peek blog series which offers an inside view into the new technologies companies will demo on stage.

Full agenda
We’ve added keynote speakers, panel discussions, and more this year. Visit the agenda to catch the highlights.

And don’t forget to download our mobile app (search Finovate in the app store of your choice).  In case you missed it, check out which regional trends will rise to the top at FinovateAsia. For specific enquiries or customer service needs, please visit our website for contact information.


FinovateAsia 2017 is sponsored by: Invest Hong KongCeleritiFintechLleida.net, and Barlings Capital.

FinovateAsia 2017 is partners with: 500 StartupsAgorizeAite GroupAsia Cloud Computing AssociationBankersHubBayPayBanking TechnologyBeFast.TVBigData-MadeSimple.comBlockExplorerBreaking BanksByte AcademyCB InsightsCelentConventus LawEbankingNewsFemTechFinancial ITFINOLABFintech Association of Hong KongFintech FinanceFintech News Hong KongFinTechTimeForresterHeadcountHolland FintechHong Kong Economic TimesThe Hong Kong Foreign Financial Institutions AssociationIBS IntelligenceInnovate FinanceInsight AlphaLexisNexis Risk SolutionsMercator Advisory GroupNexChangeThe Nilson ReportOvumThe PaypersPlug and PlayPR NewswireRegulation AsiaRFi GroupSingapore FinTech AssociationSME Finance ForumSwiss Finance + Technology AssociationWHub, and World Fintech Association.

FinovateAsia Sneak Peek: Chekk

A look at the companies demoing live at FinovateAsia on November 7 and 8 in Hong Kong. Pick up your tickets today and save your spot.

Chekk is a B2B2C digital identity ecosystem. For consumers, it offers a mobile app to own, manage, and share personal data. For businesses, it provides a web portal and API to request access to data at on-boarding and during periodic refreshes.

Features

  • Is easy, secure, and reusable consumer data wallet
  • Offers a business portal to manage customers, send new data requests, and refreshes
  • Has more coming including OCR, data and document verification, and secure messaging

Why it’s great
It enables the shift of personal data ownership from the businesses to the individuals, to the benefits of both, simplifying KYC cross-businesses, cross-industry (banks, insurers, etc.) and cross-borders.

Presenter

Benjamin Petit, Hong Kong Country Manager
After having co-founded a boutique M&A in Paris supporting SMEs and start-ups, Petit came to Asia and gained 13 years of experience in large scale, private-public utilities projects.

Trends Rise to the Top at FinovateAsia

FinovateAsia, our showcase of the newest technology from the Asia Pacific region, is coming to Hong Kong next week on November 7 and 8 (and there’s still time to register). Each of the 32 presenting companies will bring a unique set of technologies, focusing on a range of fintech trends.

So what’s hot in Asia Pacific in 2017? Here’s a look at the themes that will dominate the stage next week:

Top three trends:

  • Data analytics
    Many fintechs are leveraging big data about user behavior, transactions, and their online footprint in order to underwrite loans, provide a more personalized customer experience, or monitor app usage to authenticate the user even after they’ve logged into a session.
  • Artificial intelligence (AI) and machine learning
    These two trends go hand-in-hand and have proven to be the hottest ideas in fintech this year. Companies are leveraging these technologies to engage with customers via chatbots, to automate investing algorithms that learn over time to optimize returns, and to prevent fraudulent activity.
  • Personalization
    With so much consumer data already online, plus all the information created from daily transactions, banks have the opportunity to assist and engage consumers in new ways. Banks can help clients understand their spending habits, anticipate what’s next, and find new ways to save or pay down debt. In addition, banks can leverage customer information to assess their needs and offer them relevant products in the exact place and time they’ll need it.

Get a sneak peek of the specific technologies the companies will showcase and be sure to take a look at the extended agenda. We’re intermixing the company demos with keynote speakers, panel discussions, and an exhibition of fintech accelerators. We’ll see you next week at the JW Marriott in Hong Kong!


FinovateAsia 2017 is sponsored by: Invest Hong KongCeleritiFintechLleida.net, and Barlings Capital.

FinovateAsia 2017 is partners with: 500 StartupsAgorizeAite GroupAsia Cloud Computing AssociationBankersHubBayPayBanking TechnologyBeFast.TVBigData-MadeSimple.comBlockExplorerBreaking BanksByte AcademyCB InsightsCelentConventus LawEbankingNewsFemTechFinancial ITFINOLABFintech Association of Hong KongFintech FinanceFintech News Hong KongFinTechTimeForresterHeadcountHolland FintechHong Kong Economic TimesThe Hong Kong Foreign Financial Institutions AssociationIBS IntelligenceInnovate FinanceInsight AlphaLexisNexis Risk SolutionsMercator Advisory GroupNexChangeThe Nilson ReportOvumThe PaypersPlug and PlayPR NewswireRegulation AsiaRFi GroupSingapore FinTech AssociationSME Finance ForumSwiss Finance + Technology AssociationWHub, and World Fintech Association.

Finovate Alumni News

On Finovate.com

  • Trends Rise to the Top at FinovateAsia.
  • TransferWise Raises $280 Million in Series D.

Around the web

  • Bar Harbor Bank & Trust converts to Jack Henry Banking’s SilverLake system.
  • Dime Community Bank ($6.44 billion in assets) to deploy real-time core banking platform and digital banking solutions from Fiserv.
  • iSignthis wraps up $6.5 million private placement.
  • BizEquity bolsters executive team, adding two new VPs in product management and engineering, Amir Tahvildaran and Eric May.
  • Dwolla’s Access API helps mobile debt repayment and savings app Qoins grow margins by 10%.

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.

Credit Karma Launches Online Vehicle Center

Until now, the best way to gauge whether you’re paying too much for auto insurance was to call around to a variety of auto insurance companies. And in order to gain information on your car’s safety recalls, you had to visit the manufacturer’s website. Figuring out what your car is worth was yet another task– usually a visit to KBB.com (or to the library, for luddites).

onsumer credit monitoring and financial health startup Credit Karma has launched a new offering today that changes those routines. The company’s new automotive information center is a one-stop shop for helping consumers to manage and organize their vehicle-related finances and information. Included among the capabilities are an overview of the user’s DMV profile, with vehicle and drivers license information, vehicle value estimations, and manufacturer recall notices.

The two most notable capabilities are the auto insurance score and comparison tool and the vehicle refinancing decision tool. The insurance tool offers up information about consumer’s auto insurance score (see image, right) and enables them to shop around for a better deal on car insurance. Highlighting the value of the refinancing feature, Rory Joyce, director of product for CreditKarma told CNBC, “We started to notice that many of our members have auto loans that were effectively mispriced. We found just bringing awareness of what the calculated APR is, versus what we think they deserve, is eye opening.” In order to keep drivers up-to-date, Credit Karma sends alerts to customers when their credit score makes them eligible for a better car insurance or refinancing rate.

Above: the tool offers vehicle value information and recall notices

Earlier this summer, Credit Karma launched Credit Karma Mortgage, a tool that helps homeowners discover savings opportunities available through refinancing. That same month, the company unveiled Unclaimed Money, a feature that monitors government databases in seven states to notify consumers if they are owed money. Founded in 2007, Credit Karma debuted one of its largest product expansions in 2016 when it launched a free tax filing service. The company’s CEO and founder Ken Lin demonstrated Credit Karma’s technology at FinovateSpring 2009.

Finovate Alumni News

On Finovate.com

  • Vera for Mail Delivers Enterprise-Grade Encryption for Email.
  • Clinc Goes Global with Deployments in Six Countries, Signs Deal with Turkey’s Biggest Private Bank.

Around the web

  • IBERIABANK selects nCino to Support Growth and Enhance Client Experience
  • BlueVine wins Best Business Finance Provider, North America (Winner) in trade finance global awards.
  • Zighra receives second U.S. patent for passive authentication system.
  • Q2 announces financial services and technology veteran Christine Petersen as Chief Revenue Officer.

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.

Modo Forms Fintech Partnerships to Engage Consumers at the Point of Sale

Cloud-based payment services company Modo partnered with Bank of America Merrill Lynch, Alliance Data, FIS, Verifone, and Klarna, last week. The companies have teamed up to boost user engagement by creating Payout, Checkout, and Loyalty Events for online retailers.

Sheryl McKenzie, VP of products and capabilities for Alliance Data’s card services said that the benefit of adding marketing offers and rewards is to “deepen the customer’s connection with the brand and simplify the experience of card-based loyalty programs.”

The three types of user engagement events include:

  • Payout Events
    Helps banks disburse funds across the globe to any endpoint. Fund sources can range from a traditional bank account to a digital wallet. Bank of America Merrill Lynch is among the first to implement Payout Events.
  • Checkout Events
    Enables users to checkout anywhere with any method of payment, including the use of loyalty points, gift cards, and vouchers. Klarna and Verifone are among the first piloting this technology.
  • Loyalty Events
    Allows shoppers to combine multiple rewards and loyalty programs to make a purchase without having to share and manage sensitive identity and payment data. FIS, Verifone, and Alliance Data are among the first to implement this solution.

“We can leverage Modo’s service to seamlessly exchange payment event data across disparate retail systems in store, online and through the mobile channel,” McKenzie stated. “At Alliance Data, we are bringing together the breadth of a large marketing-focused corporation with the agility of a startup partner to accelerate the delivery of innovative payment and loyalty capabilities.”

Founded in 2010, Modo exchanges payment data across platforms on behalf of banks, payment networks, and providers, enabling them to store, share, and track payment event data. The company presented at FinovateFall 2016, where it showcased its Modo Digital Payments Hub. This announcement is the first marketing effort in a long time for the Austin-based company, which just emerged from a two-month “reverse stealth” period last week. Before the quiet spell, Parker was interviewed by Dallas News, revealing his thoughts on the future of payments.

FinovateAsia Sneak Peek: BeeOnPay

A look at the companies demoing live at FinovateAsia on November 7 and 8 in Hong Kong. Pick up your tickets today and save your spot.

BeeOnPay is a unique, multi-services global payment gateway developed conveniently for all types of businesses, from hypermarkets to online marketers to street vendors using mobile apps.

Features

  • Offers a multi-services global payment gateway using mobile apps and a blockchain platform
  • Accepts cryptocurrencies as payment, plus online banking and fiat money
  • Enables users to go cashless

Presenters

Zamzuri Abdul Majid, Chief Executive Officer
Majid has vast experience in top management and a decade in business. He is also actively involved in cryptocurrencies and the blockchain.

Adnan Mohd Nazar, Founder
Nazar has vast experience in online and offline businesses. He has, so far, created several successful online marketers and has been seriously involved in cryptocurrencies since 2012.

Finovate Alumni News

On Finovate.com

  • Check out a sneak peek of BeeOnPay’s FinovateAsia demo next week.
  • IBM Security Introduces New Solution to Help Banks Spot Fraudulent Accounts.
  • Modo Forms Fintech Partnerships to Engage Consumers at the Point of Sale.
  • SpyCloud Spots Stolen Credentials with Deep Dives into the Dark Web.
  • The Faves of FinovateAsia: A Brief History of Best of Show Winners.

Around the web

  • NetGuardians included in Chartis RiskTech 100 2018.
  • Compass Plus earns PA DSS v3.2 compliance.
  • ACI Worldwide now supports the European Payments Council (EPC) SEPA Instant rulebook standard ISO 20022 within its Universal Payments (UP) solutions portfolio.

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.

BondIT Closes $14 Million in Funding

Advisory tools company BondIT landed $14 million in funding from China-based Fosun Group. The investment is a strategic one– Fosun is now a major shareholder of BondIT and has gained representation on the Israel-based company’s Board of Directors. When combined with an earlier seed round, this brings the company’s total funding to $14.3 million.

BondIT’s Chief Revenue Officer Adrian Gostick, said that the funds will have a “significant, positive impact” on the business. The company will use the investment to accelerate its expansion into the U.S., which, Gostick notes, is the world’s largest fixed income market. Gostick added, “…riding on Fosun’s global financial network, BondIT is committed to becoming a leader in the market to greatly improve the efficiency of the financial sector.”

Powered by machine learning algorithms, the company’s tools empower advisors to automate the optimization of fixed-income portfolio creation and management. Each individual investor selects 12 different constraint dimensions to personalize their portfolio. BondIT leverages these data points, combined with AI, to create algorithms that offer flexibility in optimizing risk and returns in non-linear, multi-dimensional portfolio selections.

Above: BondIT’s COO, Eran Nachshon, demos at FinovateFall 2016

Etai Ravid, Founder and Chief Executive Officer of BondIT said, “The long-term vision of BondIT is to bring significant efficiency to the global bond markets through the application of artificial intelligence and data science, and help our customers gain a competitive advantage through increased productivity and better client centricity.

Founded in 2012, BondIT’s COO Eran Nachshon debuted the technology at FinovateFall 2016 in New York. We featured the company, along with an interview with Ravid, in a blog post last year. BondIT was also highlighted in our round-up of top B2B wealth tech players.