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Finovate Alumni News-- March 28, 2014

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgMambu wins Cloud Computing Innovation of the Year awards at 2014 FStech Awards.
  • Nostrum Group ranked 9th in GP Bullhound's Northern Tech 50.
  • Global Payments to offer MasterCard's MasterPass digital payments solution.
  • New partnership means V&D customers will be able to pay via Klarna.
  • Innotribe interviews Kantox's CEO, Philippe Gelis.
  • BBVA and Google sponsor developer competition for SME business apps geared toward Spanish, Latin American markets.
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.
In our final behind-the-scenes look at companies that demonstrated at FinovateEurope last month, we talked to Avoka, BehavioSec, The Currency Cloud, and Efigence (which demoed with IdeaBank). This range of companies covers everything from small business solutions and biometric security to Bank 3.0 makeovers and B2C2C currency exchange.

In case you missed any of the previous behind-the-scenes features, you can check them out below:



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Avoka

What they do
Avoka's online form-based transaction technology brings the form-filling process to a new level by supporting all channels and creating a seamless transition among them. With this solution, users can begin filling out a form on one channel, leave it, and pick it up on another channel where they left off.

Stats
    • 100+ employees
    • Offices in Australia, USA, and UK
    • Tier 1 & 2 Financial Services clients, government clients in USA, UK, and Australia
The experience
Users can begin their account opening experience on their mobile device. In this case, the user has started filling out a mortgage application. At the top, they are provided a tracking number which they can use to reference their application to a customer service representative.

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The graphic below illustrates how the user, who began the application process on an iPhone, can resume filling out their mortgage application on a tablet. Since it picks up in the same spot that they left off, there is no need to enter the same information The phone on the right shows the same application on a smaller sized screen, which demonstrates Avoka's use of responsive design.

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In the event the user has difficulty at a point in the application, they can call a customer service representative or opt to schedule a time for the representative to call them at their convenience. The customer only needs to provide their tracking number located on the screen of their device, and the representative will be able to see their progress and location in the form-filling process.

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The customer service reps are given visibility into completely abandoned forms. They can view the customer name, their email address, and at which point they abandoned the form. This gives the CSR the ability tailor the way they follow up with the client, depending on where they abandoned the form.



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What they do
BehavioSec is a leading Swedish IT mobile security company that specializes in behavioral biometric authentication. Behavioral biometrics is a way of verifying identity based on how users act and interact with everything from their desktop computers, to websites, to mobile devices.

BehavioSec_homepage_Large.jpgStats
    • Raised €1.5 million
    • 12 employees
Biometrics as Security's Cutting Edge
Anyone who fears that fintech professionals don't take security issues seriously enough would have to explain why BehavioSec continues to be a favorite among Finovate audiences.

In picking up another Best of Show award at FinovateEurope this spring, BehavioSec continues to impress with an argument that what's good enough for the security professionals at DARPA should be good enough for the consumers of financial products, as well.

keystroke-dynamics.jpgHow does BehavioSec's technology work? Keyboard strokes, swiping patterns and other gesture dynamics (pressure, speed, cadence) are as uniquely identifiable as fingerprints and arguably far more so than passwords and PINs. BehavioSec records these inputs as the user of the PC, website or mobile device goes about her business. 

If and when the technology encounters behavior that is inconsistent with how the user has interacted in the past - a different rhythm in the typing of the keys, a different pressure or an uncommon hesitation in the middle of a swipe or gesture, the attempt fails.
gesture-dynamics.jpgAll of this security is provided in real-time. BehavioSec also presents its data via a dashboard that makes it easy to monitor transactions as they happen or conduct forensic review afterwards. "If it isn't you trying to make a particular transaction," said Neil Costigan, BehavioSec's CEO, "who is it?" BehavioSec's platform makes it easier for banks and financial institutions to find out.

I caught up with Neil late in the day on Wednesday. The final networking period of the day was already underway and most attendees and presenters alike were milling around, drinks in hand, waiting for the Best of Show announcements later that evening.

We didn't have a lot of time, but it's always great to catch up with Neil and find out about the prospects of further behavioral biometric adoption by more banks and financial institutions.

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"The takeaway? That's it's cool and it works," Neil said in response to a question about his technology's enduring appeal. He admits there is still a little mystique surrounding behavioral biometrics ("James Bond stuff"), and it cuts both ways, by impressing some and making others a little more cautious."

BehavioSec continues to have great success in the Nordic countries, where the company was founded, and Neil pointed to the 2.5 million people who will be using the technology at Denmark-based Danske Bank. And the company continues to be close with the U.S. defense industry. Stay tuned for news on that front in the months to come.

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But the company is not resting on its laurels, looking to expand into more markets - and more kinds of markets - around the world. "The technology is proven," Neil said, "we don't need to invest in R&D." Instead he mentioned new fields, suggesting that the company has moved beyond investment on research and development to focus on new areas of business such as the account sharing problem for software licensing. 

And expansion into London is another option, particularly given the strong reputation many of the Nordic banks have in the U.K. "We're looking at offices and interviewing people for a UK presence," Neil said."It's an easy next step from the Nordics. We are similar in customer profile." 

"Also our references carry weight here," Neil said with a smile. "You walk around San Diego and say, 'I've got a bank in Norway' and they say, uh, what part of Wisconsin is that?" 



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What they do
The Currency Cloud helps businesses make international payments faster, more affordable, more transparent, and more secure. The company's Payment Engine technology takes over and automates the entire process, from initial receipt of funds, through conversion to final payment.

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Stats
    • Employs 42 staff members
    • Raised $8 million in funding
    • Has 50 new direct clients and more than 1,000 indirect clients on boarded since January 2013
    • Has 40,000 end customers
    • Processes payments in 40 currencies in more than 200 countries
    • Delivers 95% of payments within 24 hours
    • Processes $400 million in payments monthly
    • Clients include Finovate alums:
      • azimo
      • CurrencyTransfer
      • Fidor Bank
      • TransferWise
Giving Companies "Global ACH"
The Currency Cloud considers itself a technology company rather than a FX company, at heart. The company specializes in providing the infrastructure that makes it not only for businesses to make international payments, but for international payments companies themselves to do their business better. "We are very much in the background," explained Todd Lathan, Vice President of Marketing for the company, "We're B2B2C. We enable companies to have a global ACH."

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This year at Finovate, the company showcased a new feature, Cash Manager, which allows customers to send payments in advance. This turns what is often a 5-6 day process using traditional methods, into a far shorter process for companies that make sizable, regular international payments. 

The idea of the Cash Manager came from customers. As CEO Michael Laven explains it, The Currency Cloud's customers seek help with two primary issues: speed and transparency. In the name of speed, the company's Cash Manager enables customers with predictable, end-of-month payment runs to pay in advance, taking days out of the payment cycle.

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And in the name of transparency, the Currency Cloud has built a new notification facility that shows a complete chain of payments, the location of the funds and what transactions have been executed. From the Finovate stage, Laven cited a conversation with an attendee who said that "the major thing missing from their payment world" was precisely this kind of functionality. "We solved this problem and made it very, very easy," Michael said.

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Click the image above to watch a video introduction to The Currency Cloud

Going forward, what goals for 2014 does The Currency Cloud have? Making the process even faster is a top priority, as is expanding the company's global footprint. This expansion will have to come on a country-by-country basis, due to the differences in regulation, and explains why the company looks to find and make partnerships in the areas they seek to expand into.

"It's all about where our customers are and what regulations they are operating under," Todd said.



EfigenceLogo.jpg
Efigence 

What they do
Efigence creates a host of solutions from PFM technology, to online banking, and even currency exchange tools. At FinovateEurope, however, it teamed with IdeaBank to show off its platform that provides tools and data visibility for entrepreneurs to manage their small business.

Stats
    • Founded in 1999
    • Product launched Q2 2014
The experience
The screenshot below shows the client dashboard that gives them an overarching view of the business' finances, cash flow, account balance, payments, and invoices. The responsive design interface works well on a variety of screen sizes, and the large buttons make it touch screen friendly. 

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The top screenshot below shows Turbo Payments, a feature that recognizes monthly expenses and enables users to pay a suggested amount on those recurring items with the click of one button. Similarly, Turbo Invoicing recognizes recurring monthly invoices, and allows users to send multiple invoices with one click.

EfigenceInvoiceandPay.jpg
In the graph near the bottom of the screenshot below, the platform notifies the user if their cash flow is endangered, as indicated by the red zone that dips below zero. When the user clicks on the section to gather more information, they are presented with the option to repair their cash flow by applying for an instant loan or receive factoring services for multiple, unpaid invoices.

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The system also has a Virtual Vault that can be used to store items like documents or photos. The files are encrypted and protected from unauthorized users, so it is a safe place to store and exchange sensitive files.

The video below shows the implementation of the solution with Poland-based IdeaBank:


FinovateEurope 2014: FinTech on Film

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Your plan to binge watch "House of Cards" just got a little more complicated.

The videos from FinovateEurope 2014 are now available in our Video Archive section. Two full days of demos. 67 presentations. More than 470 minutes of fintech innovation. No gorilla suits or no-look, laptop tosses this time around. But the two-day event did feature an entertaining performance by a precocious young investor, a pair of innovators in motorcycle helmets, and a Russian supermodel.

And if all that doesn't whet your appetite, here's a look at the demo videos from the nine companies awarded Best of Show honors this year. Click the image to go to the video page. 

Enjoy!


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This post is part of our live coverage of FinovateEurope 2014.

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Then, BehavioSec demonstrated how its system can remove the burden of security from the end user:

"User-friendly, adaptive user authentication via risk based authentication, or behavioural biometrics, and the reality of legacy systems at our current customers.

BehavioSec extended its award winning BehavioWeb and BehavioMobile solutions to offer policy based behaviour authentication actions.

This allows the web fraud detection system to define cause and effect authentication, removing the burden of troublesome security from the end user."

Presenting Neil Costigan (CEO) 

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Product Launch: April 2012
Metrics: €1.5M, 12 employees, university spin out
Product distribution strategy: Direct to Business (B2B), through other fintech companies and platforms, licensed

HQ: Stockholm, Sweden
Founded: May 2009
Twitter: @behaviosec

The FinTech 50 awards highlight 50 European-based companies to watch over the coming year. The companies are selected by a panel of 15 fintech professionals. This year, 19 of the selected companies are Finovate alums.

Here are the Finovate alums selected, listed in alphabetical order:


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AcceptEmail, for its electronic billing and payment system that allows customers to make payments straight from their email.

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BehavioSec, for its technology that uses behavioral biometrics to verify users, creating a secure environment without extra friction.

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Credit Agricole Apps, for its online app store where financial apps are co-created between clients and developers.

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eToro, for its social trading and investment network


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ETRONIKA, for its full suite of ebanking channels and BANKTRON management platform.

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Fidor Bank, for its innovative online banking community.

FiveDegreesLogo.jpg
Five Degrees, for its integrated banking platform that extends from back-end systems to client-facing technology.

FreeAgentLogo.jpg
FreeAgent, for its SMB-focused online accounting system.

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Help my Cash, for its recommendation engine that informs consumers of their options when choosing and negotiating financial services.

Holvi, for its smart checking account for group activities.

Ixaris, for its innovative global applications based on open-loop prepaid card schemes.
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klarnaLogo.jpg
Klarna, for its e-commerce payment solutions.

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mBank, for its Bank 3.0 approach to online and mobile banking.

MenigaLogo.jpg
Meniga, for its white-labeled PFM and next-generation online banking solutions.

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Nutmeg, for its online savings and investing service that helps users manage their money.

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The Currency Cloud, for its Cross Border Payments as a Service product that optimizes exchange rates and payment networks for both parties in a currency exchange.

TransferwiseLogoNew.jpg
TransferWise, for its platform that allows expats, foreign exchange students and businesses to move money globally.

wonga.jpg
Wonga, for its service that provides small, short term cash advances to UK consumers online.

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Zopa, for its P2P money lending service that allows borrowers and lenders to deal with each other directly.


  • Finovate-F-Logo.jpgDMG Consulting ranks NICE as the speech analytics market share leader for the fifth consecutive year, and as the contact center WFO market share leader for the first half of 2013.
  • Cachet Financial Solutions partners with YellowPepper to bring mobile deposit technology to Latin American Marketplace 
  • Midway Sewer District launches on doxo; more than 8% of customers go paperless in the first 90 days.
  • See BehavioSec's Best of Show winning demo from FinovateAsia 2013.
  • Pymnts.com talks with Jonathan Hancock of TSYS on curbing card-not-present fraud.
  • Sage adds daily spending limits, funding rules to their Business Prepaid Visa Card mobile app.
  • American Banker reports: Lending Club Targets Small Banks with Personal-Loan Push http://bit.ly/19CcyQq
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 2013 Best of Show: BehavioSec

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Best of Show: BehavioSec

"Nice! BehavioSec is the most interesting bit of fintech so far today, but the day is still young! #finovateasia"

--Paul A. Chapman via Twitter (@pchap10k)

In winning Best of Show for a second time (the first was at FinovateSpring 2012 in San Francisco), Neil Costigan's BehavioSec revealed that it has plenty to show - and tell.

As a specialist in the field of biometric authentication, BehavioSec has leveraged its "continuously authenticating" algorithms to provide security solutions for e-merchants and mobile commerce.

And as a crowd-pleasing presentation of security technology, BehavioSec's keystroke and gesture pattern-based authentication demonstrates just enough of the "wow" factor to make audiences feel they are seeing tomorrow's technology today.

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To see the video of BehavioSec's Best of Show winning demo, click here.

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Why They Won:
  • Removes friction from the end user's experience
  • Uses biometrics in a practical way that doesn't require expensive, additional hardware
  • Adds a layer of security that transcends beyond the traditional PIN
Bottom Line:
  • BehavioSec emphasizes removing the burden of security from the shoulders of end users, and gives technology the ability to improve over time due to continuous authentication provide a unique solution in the security space.

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Interview with Neil Costigan, CEO, BehavioSec

Finovate: When you won Best of Show at FinovateSpring 2012, you said the single most compelling benefit of BehavioSec's mobile security solution was "transparency" and a "fantastic user experience." What has been the most significant development in BehavioSec that has led to winning Best of Show again a year later?

Costigan: I think our success in the market throughout 2013 has led to a "feedback loop" where we have really gained customer suggestions to enhance the technology.
I think it shows that we listen and improve, and that we speak more from real world experience now.

Finovate: Also a year ago you talked about how your technology helped "identify abnormal behavior" and that you hoped to expand the solution by offering to help customers decide "appropriate next steps aligned with the level of risk." Have you continued down this path?

Costigan: Yes, we've opened up our APIs and formats and added the idea of policy triggers. We've also integrated more with the ecosystem that is around us.

Finovate: A point of emphasis for BehavioSec seems to be removing the burden of security from the shoulders of the end user. Why is this important?

Costigan: In security, the 'user' is actually the weak link. Make the security too much of a burden and the end user tends to ignore it, or subvert it for their own convenience. Think of password managers being like the user propping up a big safe door with a chair. The user expects the bank, payment service, or eCommerce site to solve the security issue, not be a part of it.

Finovate: What are some of the advantages of innovating in a country like Sweden? In what ways are Northern European markets different from those in other parts of Europe when it comes to security issues?

Costigan: Actually it can be a burden!

I'm not from the Nordics myself. I'm Irish. So I find this new market fascinating, how different it is from the rest of Europe.

What I have picked up over the last few years is that there is little to no fraud here. Hard to be selling anti-fraud solutions to people who don't need them! I am half-joking. 

The Internet removes these barriers. I believe this Northern European market is a trendsetter for a technology update. What works here tends to mirror what will happen elsewhere. Our references here are taken as a good bellwether of what will happen in other markets.
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FinovateAsia 2013 was quite a success. We just finished up the second annual FinovateAsia in Singapore. 

After the show, the audience selected their favorite of the 35 demo companies. The top four companies were named Best of Show, and took home a trophy.

The winners (in alphabetical order):

BehaviosecLogo2013.jpg
BehavioSec, for its behavioral biometrics-based authentication method 
Live blog post

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IND Group, for its Essence mobile banking app, with detailed financial management tools
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Kofax, for its omni-channel solution that accelerates and enhances the underwriting process
Live blog post

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Yodlee, for the international debut of TANDEM, an app that helps groups manage and discuss shared finances
Live blog post

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All of the demo videos will be posted on Finovate.com in a few weeks.

Many thanks to the great audience that participated in this year's event. Also, thanks to the 34 innovative companies who demonstrated their newest tech from the FinovateAsia stage. Keep the tech coming!

------------------------------------------------------------------

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. 

This post is part of our live coverage of FinovateAsia 2013.

BehaviosecLogo2013.jpg
Second up in this session, BehavioSec demonstrated how it removes the burden of security from the end user:

"User-friendly adaptive user authentication via risk based authentication, or behavioral biometrics, and the reality of legacy systems at our current customers.

BehavioSec extended its award-winning BehavioWeb and BehavioMobile solutions to offer policy-based behavior authentication actions.

This allows the web fraud detection system to define cause and effect authentication, removing the burden of troublesome security from the end user."

Presenting Neil Costigan (CEO)

IMG_3343.JPG
IMG_3345.JPG
Product Launch: April 2012
Metrics: 1.5M€, 12 employees, university spin out
Product distribution strategy: Direct to Business (B2B), through other fintech companies and platforms & licensed

HQ: Stockholm, Sweden
Founded: May 2009
Twitter: @behaviosec

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FinovateAsia 2013 is coming to Singapore in just over one week. And, just in time, here are the final seven companies who will bring their live demos to the stage.

If you missed the previous three installments of our Sneak Peek preview series, check out the links below.

Our final event of 2013 is only a few weeks away. Get your ticket here to be a part of the audience.


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BehavioSec focuses on innovation in behavioral biometrics.

Features
    • Transparent biometrics for mobile and web 
    • Large deployments 
    • Cost effective, low impact security
Why its great:
BehavioSec provides biometric security with no user experience cost  

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Neil Costigan
Dr Costigan is a cryptography and security expert with over 20 years experience developing security solutions deployed with retail banking in the U.S. and Europe.







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GMC Software Technology's Inspire Research Portal (IRP) for investors provides a single platform for users to access and replaces all manual processes to automation.

Features
    • Streamlining the process
    • Reducing human errors while increasing productivity
    • Ability to view research reports from multiple platforms
Why it's great:
IRP will provide a centralized platform for both researchers and approvers to access and perform their job in an interactive and engaging way.  

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Matthias Kraaz
Matthias has been in the customer communication space for many years and is currently looking after all the technical operations of GMC in Asia Pacific.  
LinkedIn






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Kelvin Huang
Working as a Presales Manager in GMC for 2 years, Kelvin specializes in web and mobile communication and is equipped with years of experiences in financial industry.
LinkedIn







IntuitionIntelligenceLogo.jpg
Intuition Intelligence's end-to-end card linked offers solution delivers super relevant offers to users from a huge volume of offers.

Features:
    • Brings a huge volume of offers from Open-coupon Networks
    • Solve Pains: Volume, Velocity, Variety, Vicinity, Visibility & Value
    • Win-win ecosystem for the Bank, Merchants and Customers
Why it's great: By learning user intent in click time, we deliver the right offers at right moment via digital channels without spam and friction in pre-and post-login.  

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Arif Ansari
Keynote Speaker for Big Data and predictive analytics, expert in multiple areas of advanced intelligent systems and multiple patent holder.







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Yusuf Ansari
Entrepreneur with track record of achieving #1 market share, visionary in building iconic products and hands-on execution and product management.
LinkedIn






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KlickEx is the world's most advanced multi-currency payments network - active in 8 countries, SWIFT and UNDP funded - and Asia's top-ranked Mobile Money platform deployment.

Features:
    • Completed solution to distributed/"crypto"-currency value destruction
    • No need to dis-intermediate Central Banks or regulators
    • Implemented, asset-based store of value - full USD alternative

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Rob Bell
Rob and his award winning team turned the SWIFT and UNCDP funded, World Bank ranked, Pacific inter-bank payment network, into Asia's top rated mobile money platform in 3 years. Ex HSBC, Stanford, NZX.
LinkedIn





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Brett Waterson
Brett is the multi-award winning architect behind many global trading and banking systems, including the NZ Police Database, and all four NZ bank credit card loyalty programs - and of course, KlickEx.
LinkedIn


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Mambu helps banks, microfinance institutions and financial innovators deliver banking services to individuals and emerging enterprises around the world.

Features:
    • Makes state-of-the-art banking technology accessible to all
    • Eliminates the costs and complexities of traditional core banking
    • Helps financial organisations get new products to market, fast
Why it's great:
Mambu's cloud-first Software-as-a-Service solution enables financial organizations of all sizes to rapidly deliver state-of-the-art banking services  

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David Hamilton, president of Mambu








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Eugene Danilkis, CEO and co-founder of Mambu
LinkedIn









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Payoneer simplifies global commerce by providing companies and businesses of all sizes with an innovative, convenient and cost effective solution to send and receive funds worldwide.

Features:
    • Global corporates can transfer funds to over 200 countries and more than 50 currencies 
    • Funds can be received on prepaid cards, local bank accounts, or even local e-wallets 
Why it's great:
In a borderless world, Payoneer helps SMBs and professionals get paid with minimal friction and the convenience of choosing their preferred financial instrument.

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Oded Zehavi
As CRO, Zehavi is responsible for Payoneer's sales, marketing and product activities. Prior to joining Payoneer, he served as business development director for PayPal.





TSYSLogoHiRes.jpgTSYS' Authorization Controls allows the a user to set one's own default account parameters and authorization rules.

Features:
    • Spatiotemporal locks allow user to geo-fence their location
    • Authorization Rules allow you to define spend limits for defined cycles
    • Authorization actions the user to Alert, Decline or Pre-authorize
Why it's great:
TSYS Authorization Controls reduce risk to the card issuer, merchant and consumer by monitoring transactions in real-time and enforcing responsible spending at the POS.  

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Paul Bridgewater
As Group Executive of Global Product, Paul is responsible for product strategy, product delivery, product marketing and TSYS Innovation across the company. 
LinkedIn








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Chris Colson
As the director of innovation for TSYS, Chris is an 18-year veteran of the payments and financial services industry, having previously served as vice president, product management, of Equifax.  









For more information about how to join us in Singapore, visit our FinovateAsia 2013 page here.

FinovateAsia is typically our most globally diverse show, and this year is no different. Two weeks from now, we will showcase 37 demos from companies spanning the globe that are innovating in everything from remittance to small business tools to back office solutions and much more. 

Given that diversity, we thought it would be fun put together a map showing the geographic spread of the demoing companies that will take the stage (click the map to enlarge).

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Here's the breakdown of the number of companies from each region:

  • Asia: 12
  • Europe: 11
  • North America: 9
  • Africa: 1
  • Oceania: 2
  • Middle East: 2

To refresh your memory, the list of the companies that we've hand-picked to show off their new technology at the Max Atria @ Singapore Expo on November 14, include:

  • Advanced Merchant Payments
  • App Annie
  • Arkalogic
  • ArthaYantra
  • Backbase
  • BehavioSec
  • BlueKite
  • BRIDGEi2i
  • CustomerXPs Software
  • DragonWealth
  • GMC Software Technologies
  • i-exceed
  • IND Group
  • Intuition Intelligence
  • KlickEx
  • Kofax
  • LifePAD
  • Luminous
  • Mambu
  • Matchi
  • Mistral Mobile
  • Mobexo
  • Mobino
  • Pangea
  • Payoneer
  • Pixeliris
  • Red Zebra
  • SaaS Markets
  • Serverside
  • Smart Engine
  • TIBCO
  • Tootpay
  • TradeNet
  • TSYS
  • White Label Personal Clouds
  • Yodlee

To see live demos of the new technology, meet the entrepreneurs responsible, and network with others in the industry, get your ticket to FinovateAsia here. If you have questions about the show, check out who is attending or email asia@finovate.com.

At Finovate, we've seen how great innovation comes from companies of all ages. All we have to do is look at the Best of Show winners from FinovateAsia 2012. The founding dates of the winners ranged from 1858 (NAB, the parent company of UBank) to 2012 (SocietyOne).

We don't know who will win Best of Show at FinovateAsia in Singapore this year, but looking at the launch date of the 37 companies taking the stage November 14, we found a 28-year spread. 

Here they are in reverse chronological order with funding amounts, if disclosed:

2013- 2012
  • BlueKite: 2013
    Total Funding: $1.5 million Seed funding
2011-2008
  • KlickEx: 2011
    Total Funding: $1.3 million
  • Mambu: 2011
    Total Funding: $2 million Series A

2007 or earlier
  • Yodlee: 1999
    Total Funding: $124 million
  • BehavioSec: 1998
    Total Funding: $2 million (€1.5 million)
  • Kofax: 1985
    Public LON: KFX

To learn more about each of these companies, check them out here and come see their live demos in Singapore on November 14.

_______________________________________________________________

All numbers and funding information sourced from Crunchbase.com

  • Finovate-F-Logo.jpgBillhighway 3-peats with "Metropolitan Detroit Best and Brightest Company to Work For" 2013 win.
  • BehavioSec awarded DARPA Phase 2 contract.
  • Spend Matters interviews Tradeshift CEO, Christian Lanng.
  • ACI Worldwide embraces Experian Decision Analytics decisioning solution.
  • FIS announces partnership with Australian debit card system eftpos to build payments hub.
  • Quantopian raises $6.7 million in Series A round.
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.
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You may have seen the list of FinovateAsia demoing companies we released a few weeks ago. Here are more details on the 32 companies demoing November 14 at the MAX Atria @ Singapore Expo. Get your ticket here to be part of the crowd.

Stay tuned for our Sneak Peek series next month featuring a behind-the-scenes look at each company and chance meet the innovators.



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Advanced Merchant Payments' innovative loan management solution enables banks to offer profitable, unsecured, short-term loans to small businesses

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ArthaYantra provides personal financial advice online to everyone irrespective of what they earn

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Backbase brings social media to the bank, and the bank to social media
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BehavioSec has extended its award-winning BehavioMobile solutions to offer policy-based behaviour authentication

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BellaDati is the agile business data analysis with human touch

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BlueKite's international bill payment service improves an immigrants' ability to care for family back home

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BRIDGEi2i is a trusted partner that enables organizations to achieve accelerated outcomes by embedding analytics in their DNA

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CustomerXPs Software is a leading product company offering real-time, Enterprise Fraud Management & CEM products to banks globally

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GMC Software Technology is a leading software developer of solutions that transform the customer experience
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i-exceed has created a Unified Application Development Suite for smartphone, tablets, desktops and laptops across operating systems

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IND Group is a leading innovator and developer of digital banking, PFM and payments technology

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Intuition Intelligence delivers the right offer at the right moment to the right client via digital channels

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KlickEx is a Global Clearing System for commercial and central banks. The Clearing System extends to Retail, as well

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Kofax is a leading provider of smart process applications that simplify the business critical First Mile of information-intensive customer interaction

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Luminous is a boutique innovation company that has become synonymous with innovative banking around the world
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Mambu enables financial institutions to rapidly deliver state-of-the-art banking services through a cloud-first Software-as-a-Service solution

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Matchi is a matchmaker for innovation

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Mistral Mobile powers your mobile financial services to serve anyone
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Mobexo is a scalable, value-added payment ecosystem that allows transactions to be executed between smartphones
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Mobino enables mobile payments for 5 billion people, from any phone, no credit card required

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Pangea Payments' multiplatform solution will allow you to send money to anyone, from anywhere, at any time, using mobile and retail locations around the world
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Red Zebra brings together consumers, banks and retailers, with targeted rewards based on spending patterns


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SaaS Markets is the enterprise app store company for financial organizations looking to leverage cloud-based applications for their employees or customers

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Serverside Group is the global technology leader in digital card designs and a provider of innovative artwork solutions that create meaningful results

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SinoLending is the leading online lending platform in China

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Smart Engine's Multichannel Loyalty Platform benefits financial institutions, merchants, web shops and users

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TIBCO Software creates real-time, event-enabled solutions for the 21st Century

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Tootpay's mobile payment solution works independently from network and operator. It is encrypted, using a standard mobile phone


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TradeNet provides an equity trading customer channel for retail customers in emerging markets at $5 a month

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TSYS focuses on people-centered payments

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White Label Personal Clouds' Website Welcomer eliminates username/passwords and enables seamless, private transfer of information between organisations

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Yodlee is the platform for financial innovation, powering the world's largest collection of transactional data

To learn more about FinovateAsia, visit the event page, check out the FAQ, or email asia@finovate.com.
This post is part of our live coverage of FinovateFall 2013.

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Next, BehavioSec demoed its user-friendly authentication technology:

"BehavioSec has spotted the gap between user-friendly adaptive user authentication via risk-based authentication, or behaviour biometrics, and the reality of legacy systems at our current customers.

BehavioSec extended its award winning BehavioWeb and BehavioMobile solutions to offer policy-based behaviour authentication actions.

This allows the web fraud detection system to define cause and effect authentication, removing the burden of troublesome security from the end user."

Product Launch: September 2013
Metrics: 1.5M€, 10 employees, university spin out
Product distribution strategy: Through financial institutions, through other fintech companies and platforms, & licensed.

HQ: Stockholm, Sweden
Founded: May 2009
Twitter: @behaviosec

Presenting Neil Costigan (CEO)

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The full demo video will be available at finovate.com in mid-September.
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FinovateFall 2013 is right around the corner. That means it's time to start getting to know the entrepreneurs and innovators that will be presenting their technologies on stage in New York City in September.

Remember, the early bird deadline is this Friday, August 2nd. So to reserve your spot and register now.

________________________________________


Akimbo Financial offers a social bank account alternative that makes sharing money easier than ever.

authenticID's identity tools pictureID and catfishID, are the most accurate, time-saving solutions for the forms of ID we already carry.

Backbase's Launchpad, the Commercial Banking Edition, making CFO's work easier.

BehavioSec uses behavioral analytics to transparently tackle web and mobile security.

BillFloat revolutionizes credit delivery to consumers and businesses.

Biometric Signature ID has a patented software-only biometric for secure ID online verification.

BizEquity is the first and leading cloud-based business valuation engine, an innovative solution to small business lead generation.

Capital Access Network is the largest and most experienced small business finance specialist.

Cardlytics uses consumer purchase data to drive a patented advertising platform. Ads are so relevant--they're expected. 

CoverHound is a comparison insurance adviser, helping people discover, buy, and manage insurance online.

CR2 is the innovative provider of self-service banking solutions including ATM, Internet, and mobile banking.

DoubleBeam's SDK powers mPayments inside other mobile apps, helping signup customers quickly and save a ton on the cost of payments.

FinanceIt offers businesses the ability to provide consumer financing to their customers at the POS.

Financial Guard helps you protect your investments, providing online investment advice at the right price, finally.

Finect is the leading online network for the financial services industry.

Fiserv is a leading global technology provider serving the financial services industry, driving innovation in payments.

FlexScore "gamifies" financial planning, gives a "score" of your financial fitness, and provides education, advice, peer comparisons.

Float Money offers interest-free credit to members of its shopping club and financial health partners.

FutureAdvisor manages your investments for better returns, making quality financial advice available to everyone.

GMC Software Technology is a leading software developer of solutions that transform the customer experience.

Guide Financial is like a healthcheck for your finances - automatically scanning your accounts for ways you can earn or save more, and providing simple, easy fixes.

Ignite Sales is the leader in retail banking, customer acquisition, and retention technology.

Innovation Agency, where you can execute on your innovation mandate and unlock the wealth of ideas in your ecosystems.

Instabank - Beautiful money.

Interactions provides natural language Virtual Assistant application services for the automation customer care processes.

Jumio is a next generation credentials management company offering payments and ID scanning and validation products for mobile and web transactions.

Kofax is a leading provider of smart process applications that simplify the business critical First Mile of information-intensive customer interactions.

LearnVest empowers people everywhere to take control of their money and live their richest lives.

Level Money is a financial GPS, designed to replace budgeting.

Lighter Capital provides growth capital to technology companies in a highly-automated basis - Capital-as-a-Service.

Lumesis provides software for the fixed income municipal market. Compliance and credit-focused. 

Luminous is a boutique innovation company that has become synonymous with innovative banking around the world.

Manilla is the leading free and secure service to simplify and organize daily financial life.

MasterCard is a technology company in the global payments industry, operating the world's fastest payments processing network.

mBank is the biggest, pure-play online bank and the third largest retail bank in Poland.

miiCard is the first digital identity verification service to prove 'you are who you say you are' entirely online.

Mitek is positioned as the leading innovator in mobile imaging software. 

MoneyDesktop empowers financial institutions to provide online/mobile banking experiences to promote personal financial intelligence.

Motif Investing is a thematic, customizable, low-cost and crowdsourceable ETF-like product that is disrupting investing economics.

Narrative Science enables companies to uncover the insight hidden in their data and create new content at a scale and frequency never before possible.

Numbrs - One App - Every Bank.

P2P Cash is the mobile wallet with switch technology that allows us to aggregate all other mWallets and mobile financial services.

PayWith is powered by MasterCard. Funded by Merchants. Loved by Consumers.

PhonyInvoices provides invoice fraud detection and prevention. We check a company's vendor lists and transactions for suspicious activity.

Place2Give provides valuable and trustworthy information to make the most impactful social capital investment decisions.

QuarterSpot lending platform delivers the lowest cost and most favorable term small business loans.

RevolutionCredit is a revolutionary solution that transforms the credit decisioning process for both creditors and consumers.

SaaS Markets is the enterprise app store company for financial organizations looking to leverage cloud-based applications for their employees or customers.

SavedPlus is an automatic savings program that helps customers save money with every purchase.

Simple Verity provides business credit reports on any SMB in America.

Socure offers a social identity verification solution to combat the growing risk of online identity fraud for financial institutions.

SpearFysh leverages mobile, speech analytics, big data, and SaaS technology to improve sales processes and drive growth.

Spreedly provides vault cards in the cloud and work with more than 50 payment gateways.

StockSmart apps and platform offer insight and information on the world's best companies and people.

StrategyCorps delivers local/mobile/social consumer checking solutions so appealing and relevant, your customers will gladly pay for them.

Tinkoff Credit Systems is Russia's leading provider of online financial services.

TipRanks is a cloud-based service that measures the performance of anyone giving investment advice.

Toopher eliminates online fraud using your phone's location. Simple, secure, your phone stays in your pocket.

Unleash is the cloud CFO that helps small businesses make better decisions faster.

VerifyValid and Deluxe are giving checks their first major upgrade in more than 200 years.

Versafe protects all users from all malware, threat types. On all devices, all transparently. 

WordSentry software analyzes messages during composition, identifying non-compliant components, for correction before sending.

Yodlee is the platform for financial innovation, powering the world's largest collection of transactional data.

Yseop creates a new age where financial services delivered to customers are driven by AI and human collaboration.

Zenmonics is a global technology services and mobile product provider to the financial services market.

Zighra empowers banks and financial institutions to leverage implicit mobile user authentication and accelerate payments.

Zooz provides complete payment essentials at your fingertips: a robust set of tools that will improve the payment process.

Plus more stealth companies to be announced in the weeks to come.

________________________________________

To find out more about the upcoming FinovateFall 2013 event in New York, September 10 and 11, visit our FinovateFall information page here.
  • Finovate-F-Logo.jpgSmithsonian Magazine features how BehavioSec authenticates users.
  • NECN.com features Tom Leighton, CEO of Akamai Technologies to talk about how Akamai makes the internet faster and safer for its clients.
  • Ixaris launches Ixaris Payments Server to help banks build their own corporate prepaid programs.
  • Tasker Payment Gateways CEO touts alliance with Flint Mobile.
  • CurrencyFair featured in The Independent column on saving money when sending cash overseas.
  • Yodlee expands international reach by partnering with BlueChilli, a Sydney-based technology startup incubator.
  • Linkable Networks wins endorsement from American Bankers Association for its card-linked offer technology.
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-F-Logo.jpgExpensify makes Reconciliation and Central Administration features available for American Express corporate cardholders.
  • Micronotes providing series of marketing campaigns for USAlliance FCU to help cross-selling efforts.
  • Palo Alto Software announces launch of EntrepreWorld, a virtual environment to test business plans in a virtual world of avatars. Come see Palo Alto demo its latest technology at FinovateSpring.
  • Consumers CU chooses Andera's oFlows platform for online account opening and lending.
  • Lighter Capital appoints Molly Gregg Otter as Vice President.
  • Bloomberg looks at how Jemstep, SigFig, and FutureAdvisor help manage your portfolio online. See Jemstep's new tech at FinovateSpring.
  • Forbes takes a close up look at London's FinTech Innovation Lab, including participants BehavioSec, Kiboo, and Open Bank Project.
  • Huff Post blog considers Lighter Capital's Revenue Loans as alternative to VC funding.
  • GCN looks at Dwolla's use in government.
  • Huff Post blog considers automated report-writing software company, Narrative Science. See its new tech at FinovateSpring.
  • Y C Universe profiles Trust Egg. See them demo at FinovateSpring in May.
  • MicroStrategy signs technology alliance agreement with MapR.
  • Berry Review takes a look at Pageonce Money and Bills on Blackberry 10.
  • Times of India highlights Klarna's growth in Europe.
  • Incentive Mag previews the launch of CashStar's table gifting solution.
  • Eye Verify announces results from biometric standard, performance and assurance lab survey. Join them in San Francisco for FinovateSpring.
  • IntelliResponse selected by KMWorld as one of "100 Companies that Matter in Knowledge Management" for 2013. Come see them in action at FinovateSpring in May.
  • New York City Mayor Michael Bloomberg officially 'opened the doors' to On Deck Capital's new NYC HQ.
  • Global Payments and edo Interactive launch pilot for card-linked offers network.
  • Boston Business Journal interviews Leaf CEO Aron Schwarzkopf. See Leaf's demo at FinovateSpring in San Francisco.
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-F-Logo.jpgTechCrunch reports: PayPal separates developer platform from X.commerce, launches Simpler mobile APIs.
  • Springwise considers the open source nature of TESOBE's OpenBankProject.
  • Pindrop Security named the Best Rookie Security Company at the 2013 SC Awards.
  • Servant of Chaos reports: SocietyOne eyes off disruption in personal lending.
  • Intuit Small Business blog lists Mint and Expensify as 2 of 4 apps to help manage your small business.
  • UK Wired Magazine reports BehavioSec invents alternative to passwords using biometric fingerprints.
  • Edison Investment Research publishes report covering Virtual Piggy.
  • Founder and CEO of Fuze Network, Dave Wilkes, to speak at the 2013 BAI Payments Connect Conference & Expo.
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-F-Logo.jpgAmerican Banker asks if Atlanta is a fintech startup Mecca and looks at Kabbage and Cardlytics as examples.
  • Actiance debuts Vantage for Lync Voice to capture VoIP calls for Mircosoft Lync users.
  • BBC News looks at BehavioSec's biometric security.
  • On Deck opens new regional office in Denver, Colorado.
  • IDentity Theft 911's chief privacy officer Eduard Goodman talks smartphone privacy with Forbes.com.
  • TransferWise announces support for peer-to-peer international payments using debit cards.
  • TransWare from Compass Plus helps PrivatBank reach peak transaction processing.
  • Balance Financial launches Digital Office suite to create personalized client portal templates that can be customized.
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.
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FinTech Innovation Lab London, a collaboration between Accenture and London-based FIs, recently selected companies to take part in its inaugural fintech mentoring course. Of the seven* fintech entrepreneurs selected, three are Finovate alums.

Industry executives selected the startups from a large pool of applicants. Finovate alums include:

The 12-week course is modelled after FinTech Innovation Lab in New York, which we covered late last year. The inaugural course in London will take place at Level39, where the startups will attend a series of panel discussions, workshops, leadership coaching and networking opportunities from mentoring financial institutions.

Some of the supporting institutions include:

    • Barclays
    • Credit Suisse
    • Deutsche Bank 
    • HSBC
    • Lloyds Banking Group 
    • UK national payments infrastructure provider
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The other five fintech companies include Calltrunk, Digital Shadows, Growth Intelligence, and Waratek.

  • Finovate-F-Logo.jpgTechCrunch reports Braintree's New Payments Layer Lets Users Sign Up For Apps Without Re-Entering Their Credit Card Data.
  • Mitek and Allied Payment Network Expand Availability of Mobile Photo Bill Pay.
  • Backbase and iQStore sign partnership agreement for Russian market.
  • Xero integrates with Harvest, a time tracking and invoicing software company.
  • CNBC's Squawk on the Street features BOKU.
  • HID Global partners with BehavioSec to improve fraud detection system.
  • Facebook integration, customer management features added to Flint mobile app.
  • ACI Worldwide to buy Online Resources for more than $120 million.
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-- January 14, 2013

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgElmer's, Dr Pepper Snapple adopt Jingit engagement and offer platform and mobile app.
  • U.S. Bank to deploy mobile payments technology from DeviceFidelity.
  • Jingit announces partnership with Direct Source.
  • TIBCO Software partners with Vanderbilt University Medical Center.
  • Credit.com lists Mint, LearnVest, and ReadyForZero as 3 of 5 must-have apps for 2013.
  • BehavioSec mentioned in Forrester's report: Building Next-Gen Mobile Banking.
  • The Washington Post mentions doxo and StockTwits as 2 tools for keeping track of your finances, stocks, and global markets.
  • Innovation Excellence features BillGuard.
  • Management Today names TransferWise "start-up of the month."
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.
  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgFinextra features Simple (formerly BankSimple).
  • HID Global and BehavioSec join forces to add new layer of protection to fraud detection system.
  • Entrepreneurial Finance Lab reflects on FinovateAsia.
  • Personal Capital working with Pershing Advisor Solutions to make the sign-up process for investment clients even easier.
  • Lending Club debuts low-interest, fixed-rate personal loan platform to Indiana residents.
  • CashStar partners with Punchbowl to provide eGift-enabled digital greeting cards.  
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.

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Sweden-based security company, BehavioSec, announced earlier this week that it was selected by the Defense Advanced Research Project Agency (DARPA) to provide them with IT security.

BehavioSec will be working on a project called BAA 12-06 Active Authentication for DARPA, a U.S. military research organization. The goal of the project is to provide security beyond passwords by using keystrokes and mouse movements to detect fraud.

The project will last for 3 years and will help BehavioSec add to its own research base to improve its technology.

To learn more about BehavioSec, watch its FinovateSpring 2012 demo.

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  • MyBankTracker lists Mint, LearnVest, and HelloWallet as the best PFM tools. Come to FinovateFall to check out LearnVest.
  • PYMNTS.com recognizes Mitek as 1 of the "most innovative" companies in payments space.
  • Google Product Alum, Joe Wolf, joins FreeMonee as VP of Product.
  • Payment solutions provider, Payvision, partners with Virtual Piggy. Check out Virtual Piggy at FinovateFall in NYC next month.
  • Outright now integrates with Etsy Direct Checkout.
  • BehavioSec selected by military research organization DARPA to provide IT security.
  • Truaxis to provide ORCC with StatementRewards Loyalty Program. Check out Truaxis at FinovateFall September 12 and 13.
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.

Here's a look at press coverage from FinovateSpring 2012 in San Francisco last week. For comprehensive coverage, be sure to check out Erin McCune's live blog on PaymentsViews, which covers all 63 presenting companies:

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2 Minute Finance
2MF @ Finovate Spring 2012 Conference
by Bobby Lee
Link

BillGuard Demo @ Finovate Spring 2012 Conference (Day 1)
by Bobby Lee

Cardlytics Demo @ Finovate Spring 2012 Conference (Day 1)
by Bobby Lee

Concur Demo @ Finovate Spring 2012 Conference (Day 1)
by Bobby Lee

Flint Mobile Demo @ Finovate Spring 2012 Conference (Day 2)
by Bobby Lee

Mitek Systems Demo @ Finovate Spring 2012 Conference (Day 1)
by Bobby Lee

TIO Networks Demo @ Finovate Spring 2012 Conference (Day 1)
by Bobby Lee

WattzOn Demo @ Finovate Spring 2012 Conference (Day 1)
by Bobby Lee

Bank Innovation
5 Finovate Demo-ers' News Catching Our Eye
by Mary Wisniewski

4 More Finovate Products We Like
by Mary Wisniewski

Bank Technology News
Best of Finovate Spring Day 1
by Penny Crosman

Best of Finovate Spring Day 2
by Penny Crosman

Dwolla Pitches Fast Fund Transfers, but Bank Participation is Vital
by Sean Sposito

Edo to Harness Payment Data to Spur Consumer Spending
by Victoria Finkle

WattzOn Helps Banks Help Customers Save on Energy Bills
by Sean Sposito

BankersLab Blog
CreditLab Launch: Reactions and Responses

BankNXT
Finovate, Simple, and Re-Imagining Banking Applications
by Bradley Leimer

Live at FinovateSpring 2012- day 1
by Jelmer de Jong

Live at FinovateSpring 2012- day 2
by Jelmer de Jong

BetaKit
CoverHound Debuts Comparison Tool for Auto Insurance 
by Cheronne Thurab 

Business Insider
Finally, a Mobile App That Helps You Save Money: Meet Urge
by Willy Staley

Business2Community
What Does $4.6 Billion in Coupon Savings Have to Do with Savvy Consumers?
by Andre Bourque

C'est pas mon idée!
FinovateSpring 2012: quoi de neuf?
by Patrice Bernard

Currency Marketing Blog
Four Conference in Four Days
by Tim McAlpine

Credit Union Times
MoneyDesktop Named Best of Show at FinovateSpring Conference
by Natasha Chilingerian

Daily Disruption
Flint Mobile Announces Beta Launch at Finovate and Closes $3 Million Round of Financing
by Tim Rygh

The Daily Guardian (BillGuard's blog)
Financial Community Awards BillGuard Best Of Show at Finovate
by Maryanne

DCisions Blog
DCisions at Finovate Spring 2012
by Kritika Ashok

Des Moines Register 
Dwolla offers software for free
by Adam Belz

Des Moines Register Blog
Dwolla, Social Money earn praise at national banking conference
by Marco Santana

Excelsior
Kuspit, el primer Finovate mexicano
by Alicia Salgado

Experian Blog
Business IQ Express... what is the media saying?
by Roslyn Whitehurst 

FamZoo Blog
Finovate Winners
by Bill Dwight

Finextra
Flint taps phone cameras for card payments

SoMoLend closes $1.17 million seed round

Forrester Blog
Finovate Spring 2012: Digital Financial Services Innovation
by Tiffani Montez

FP Pad
[Video Spotlight] inStream Solutions CEO Alex Murguia at FinovateSpring 2012
by Bill Winterberg

[Video Spotlight] iQuantifi CEO Tom White at FinovateSpring 2012
by Bill Winterberg

[Video Spotlight] Sarah Carter of Actiance at FinovateSpring 2012
by Bill Winterberg

Iconowatch
Accelerating Innovation at Finovate 2012
by Hans Eisenbeis

Investment News
Personal Capital launches iPhone app
by Davis Janowski

Lazy Man and Money
What's Hot and What's Not from Finovate 2012

Mercury News
Money Goes Mobile 

Montreal Gazette
Montreal's Wall Street Survivor teaches about investing
by Jason Magder

MyBankTracker
Can FinTech Stop You from 'Showrooming?'
by Willy Staley

MoneyDesktop: How Personalized Deals Shine in PFM Tools
by Simon Zhen

Save Your Wallet, and Maybe the Planet, with WattzOn
by by Willy Staley

On Deck Capital Blog
Photo Journal: Our Finovate Demo

PaymentsNews
Highlights from Finovate Spring 2012 San Francisco 

PaymentsViews
Live Blogging Finovate Spring 2012 San Francisco
by Erin McCune

The Paypers
ZipZap rolls out CashCade payment service

PaySimple Blog
PaySimple at Finovate
by Sarah Jordan

PC World
New Web Apps and Services for Business
by Yardena Arar

QuidLabs
Finovate Best in Show
by Aliisa Rosenthal

SecurityPark.net
BehavioSec voted 'Best of Show' for biometric solution by audience at Finovate Spring, San Francisco

Silicon Prairie News
With upgraded FiSync, Dwolla cuts 3-5 day wait to real-time
by Michael Stacy

Silver Tail Systems Blog
Finovate Spring Demonstrates a Growing Richness in Online Interactions
by Laura Mather

Social Lending Network
Roundup of Social Lending News - May 12, 2012
by Peter Renton

TechCrunch 
Capital One Snags Mobile Savings Startup BankOns, Team Moving To Capital One Labs
by Sarah Perez

Flint: A New Mobile Payment App For Small Businesses Picks Up $3M From Storm, True Ventures
by Ingrid Lunden

How Personal Capital Wants To Bring Money Management Into The Internet Age [TCTV]
by Colleen Taylor

Nearing The 1M User Mark, Expensify Adds 'Trips' Feature To Mobile Apps
by Colleen Taylor

The Anti-Groupon? Edo Launches Real-Time Local Offers Platform, Tied To Your Bank Card For Instant Credits
by Sarah Perez

Tradestreaming
List Of Winners Of Top Fintech Conference, Finovate
by Zack Miller

World News (wn.com)
Instream Solutions Ceo Alex Murguia At Finovatespring 2012

Our fifth annual FinovateSpring in San Francisco concluded a few hours ago. After seeing 63 demos over two packed days, the audience voted for their three favorites each day. The top seven overall were named Best of Show (see notes).

The winners (in alphabetic order):

  • BehavioSec for its new security layer based on user typing/swiping patterns
  • BillGuard for its card charge dispute platform, BillGuard FI
  • Dwolla for its FISync service to enable banks to originate real-time payments
  • iQuantifi for its new financial planning & advice tools
  • MoneyDesktop for its PFM platform and integrated "deals"
  • Personal Capital for its iPhone app and interbank funds transfer
  • SoMoLend for its P2P lending platform

We'll have videos of all 63 demos posted at Finovate.com as fast as possible (probably 2 weeks out).

Thanks to everyone who presented, attended, tweeted, swapped biz cards, schmoozed and helped push fintech forward. You are the greatest! 

----------

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 as the day went on and choose three favorites from just the demos of that day. Ballots were turned in at the end of the last demo session each day.  
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. Note: Ballots with more than three companies circled will not be counted."  
4. The seven 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.

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Second up, BehavioSec demonstrated its mobile security solution that uses behavioral analytics:

"BehavioSec is showing the answer to the mobile security problem.

It's no longer sufficient to enter the correct PIN code or pattern; it has to be entered in the correct way.

BehavioMobile adds a layer of behavioral analytics to a financial app (such as a banking application), making sure it can only be accessed by a typing or swiping sequence that is uniquely connected to that person's biometrics.

Anyone attempting to access the app has to use the correct pressure, velocity, and acceleration, and they must combine this with the correct sequence speed and key-flight before they can access it."

Product Launched: December 2011

HQ Location: Lulea, Sweden
Company Founded: 2009
Metrics: $1.5 million raised to date, 7 employees

Introducing Neil Costigan (CTO)

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  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgFinovate Alums take the stage at the Future of Money Conference 2012.
  • Netbanker: Pageonce Removes Billpay Subscription Fee in Favor of Per-Transaction Pricing.
  • Hypebot.com followed Personal Capital, Intuit, Boku, Tradeshift, and CashStar at the Future of Money Conference.
  • Backbase & GFT sign European partnership agreement.
  • State of Washington picks Doxo for paperless files.
  • BehavioSec chosen as one of the "Cool Vendors" in Identity Access Management, 2012 report by Gartner.
  • Alpena Alcona Area CU selects MoneyDesktop's PFM to offer members a better online banking experience.
  • Northwoods CU signs onto Cachet Financial Services' mobile remote deposit capture.
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.
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More than 60 leading fintech innovators, both startups and established companies, are gearing up to present at the annual FinovateSpring conference in San Francisco May 8 and 9.

Each company provided a sneak peek of what they'll demo on stage next month. Below is the first installment of these teasers. We'll have more next week.

Don't miss your chance to see the live demo from each company and meet the execs responsible. Get your FinovateSpring ticket here.

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Balance Street

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The premier direct marketplace between consumers and creditors for the purpose of debt settlement, Balance Street, provides consumers the opportunity to relieve their debt burden without fees. Consumers use its web-based automated system to negotiate with creditors directly, avoiding debt settlement companies who charge exorbitant fees (up to 20% of total debt owed).

Eliminating this 20% market inefficiency makes for a better financial outcome for consumers and creditors. With over $780 billion in credit card debt in the U.S., the Balance Street technology will revolutionize the way debt is settled.

Innovation type: Cards, marketing, PFM


Bazaarvoice

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See how leading brands are harnessing the power of online word-of-mouth to boost customer referrals, sales, retention, advocacy, and company innovation while building the world's most powerful social data asset.

Innovation type: Communications, marketing, sales and customer service


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BehavioSec

No one wants a complicated process for logging in to online or mobile banking. European banks have been forced to go down this route with hardware tokens and smart cards.

So now when U.S. banks will be rolling out new multi-layered security on the front-end following FFIEC, will we see the same thing here?

With BehavioSec's solution there is a better choice. They add multilayered security through the use of behavioral biometrics. So when the user connects via mobile or online, the technology helps verify that they are who they say they are. Learn more at FinovateSpring 2012.

Innovation type: Identity, mobile, security


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BillGuard

BillGuard identifies deceptive, erroneous and unauthorized charges on consumer payment cards using advanced crowdsourcing and big-data mining techniques that harness the collective knowledge of millions of consumers reporting billing complaints online and to their banks. 

BillGuard's Advanced Card Protection Service for Banks is a seamlessly integrated, cloud-based solution that enables issuers to generate new value-add service revenue, and lower inquiry/dispute processing costs, by providing their customers daily bill monitoring and notification, enriched transition details and direct-to-merchant resolution.

Innovation type: Cards, communications, online UI


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CoverHound is changing the way people shop for insurance online. Launching at FinovateSpring, CoverHound's new rate comparison shopping service allows consumers for the first time to compare multiple, instant, accurate rates from top carriers. CoverHound will also be demonstrating an exciting array of products specifically designed to help banks and credit unions generate significant non-interest income while providing a valuable service to their members.

Innovation type: Insurance


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Never before has it been so easy for companies to provide business and retail customers with a way to validate creditworthiness through the use of online deposits. eDeposit provides patented funds visibility and real time settlement to markets across the U.S. in an innovative, new form of payment.

At FinovateSpring, eDeposit announces a new innovation that makes conducting B2B and B2C e-business faster, cheaper and safer.

Innovation type: Payments, security, small business


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From "check-in to check-out", intersecting the worlds of Payments and Advertising, edo takes the next step forward in its vision to transform shopping and saving.  

This next wave connects mobile and multi-channel retail . . . imagine a world where purchase and location meet and the new standard for mobile advertising moves from "check-in" to "check-out."

Innovation type: Marketing, mobile, rewards


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Expensify <3's Finovate -- they view it as the premier stage on which to make their biggest announcement of the year. Three years ago, it launched an open beta on the Finovate stage. Two years ago, it unveiled a major realtime analytics feature. One year ago it launched a revolutionary SmartScan service. But this year will trump all that.  A whole new approach to business travel. Prepare yourself!

Innovation type: Back office, mobile, small business


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Most investors have assets spread across financial institutions and accounts, including limited-option accounts such as their employer's 401(k) plan.

Managing this is a chore - including figuring out which funds, in which amounts, and rebalancing.

Well, it was a chore, before FutureAdvisor.

Innovation type: Investing and asset management, online, PFM


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Giftly is inventing the future of the gift card. Using its new iPhone app, users can send anyone a Giftly for any place they choose. The recipient redeems it on their smartphone when they go. It's fast, fun, and secure.

Giftly's app and web products have been designed to be social, simple, and powerful. Thanks to Facebook, Foursquare, and smart iOS integration, you'll always know which friends are celebrating birthdays, are checking in to cool new places, or are otherwise in need of a quick gift.


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Is it possible to separate the fun of buying from the nuisance of paying? Klarna thinks so. The idea behind Klarna's e-commerce services is the concept of after-delivery payment, letting buyers receive ordered goods before any payment is due. Instead of giving financial information, buyers shop with Klarna just by giving their name and select information (Klarna calculates the risk).

Innovation type: Payments


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Linkable Networks will be debuting a first-to-market capability that significantly broadens the value proposition of card-linked offers to issuing banks, merchants, manufacturers, and cardholding consumers. In addition, Linkable Networks will demonstrate new features recently added to its product platform and user interface.

Innovation type: Cards, mobile, rewards


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MShift believes that financial institutions need to enhance existing mobile banking solutions into mobile wallet and payment solutions.

At Finovate, MShift will demonstrate how mobile banking can influence how a consumer spends money in various retail scenarios.

Innovation type: Banking, payments, small business


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Your customers go mobile with smartphones and tablets. When they cannot fulfill their needs in mobile self-service, do you jump in at the right time to help them complete their business? Do you want to maximize the opportunity for smart customer experience and increased business via smart mobile devices (while reducing costs)? NICE Mobile Reach can do that for you. Don't miss its demo at FinovateSpring.

Innovation type: Mobile, sales


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Personal Capital is wealth management for the Internet Age. The company's online platform combines digital technology with highly personalized service to provide a holistic view of your unique financial picture. The free online dashboard presents all of your financial data in one place, including an assessment of your allocation, investment risk and fees.

These days, the financial lives of Americans are becoming more and more complex. At FinovateSpring, Personal Capital will unveil core new features that enable you to access your financial data in real time, on-the-go. You'll be able to view and do, anywhere, anytime.

Innovation type: Investing, mobile, PFM


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Pindrop Security provides enterprise solutions that help prevent phone-based fraud. Pindrop's acoustical fingerprinting technology detects fraudulent calls and authenticates legitimate callers, helping customers eliminate financial losses and reduce operational costs. Pindrop's breakthrough technology is the first of its kind to fingerprint individual phone calls, providing verification of caller provenance. 

Recently named one of the 10 Most Innovative Companies at the 2012 RSA conference, Pindrop's solutions help companies feel more confident in the security of phone-based financial transactions.

Innovation type: Identity, security


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Easily administer and coordinate your annual budget with Budget Manager from ProfitStars. ProfitStars takes the headaches, and the spreadsheets, out of the budgeting process and optimize the efficiency and effectiveness of budgeting and planning.  

The company will show you how this newly redesigned browser-based version enables users to construct and manage a more efficient budgeting process, including how to tackle more difficult items like salaries and fixed assets.

Innovation type: Banking


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Discover a new Facebook app for banks that will not only make you relevant and engage Facebook users, but will also get your customers recommending and endorsing your card products.  It drives great loyalty from existing customers and also helps to devise new customer acquisition --all through Facebook. 

Serverside does this by letting people design their own credit or debit card using a picture from their Facebook gallery, then post it to their Facebook wall. Their friends then click on the card image to design their own card and help your bank to go viral!

Innovation type: cards


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Social Money can provide any bank in the world its own branded version of our revolutionary and award-winning SmartyPig technology. A new bank can be up and running on our system within 90 days in any language and currency, for a fraction of the cost of internal development efforts.

Innovation type: Banking products, PFM


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The dawn of compliance solutions that work.

Meet Molly. 115 different people use Molly's SSN.
Financial institutions have no idea who these people really are.

This is possible because FIs and so-called identity protection companies can only verify identity. Verification is not enough. Full identification is needed to fight fraud and provide FIs the means to meet compliance requirements. Only Financial ICONN from TASCET can identify financial customers.

Once Molly activates her ICONN, TASCET proactively secures her identity and FIs know exactly who she is.

Innovation type: Identity, security


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Taulia takes the waste out of the supply chains of Fortune 500 Enterprises while simultaneously solving the cash-flow needs of their suppliers. The large enterprise buyers get discounts by paying their invoices early. In return, their suppliers get paid when they want. In Taulia's young life, it has already enabled small suppliers from 40+ countries around the world to receive hundreds of millions of dollars of early payments.

Innovation type: Lending, payments, small business


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The Under-18 audience has an estimated $50 billion in spending power. Learn how to successfully monetize the kids/teen market in this powerful demo by Virtual Piggy, an exciting new company that provides innovative technological solutions to help bridge the gap between children, parents and online retailers.

Innovation type: Payments


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Wall Street Survivor is the only place for the beginner to learn about investing. Guided missions, beginner-focused learning content, combined with the web's best stock simulator help users effectively manage their financial future.

Innovation type: Investing & asset management, marketing, PFM


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Mobile commerce is estimated to be a $31 billion industry by 2015, but how will the underbanked participate? Wipit has unlocked mobile payments for this massive and largely untapped consumer demographic representing 25% of all U.S. households and over 70 million U.S. prepaid wireless subscribers. Underbanked consumers can now make in-app and online payments with a single click. No need for bank accounts or credit cards; Wipit lets underbanked consumers use their payment method of choice-- cash.

Innovation type: Cards, payments


Stay tuned next week for another sneak peek of FinovateSpring 2012 presenting companies.

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