Alumni News– October 31, 2014

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgRippleshot wins Up and Comer honors at Chicago Innovation Awards.
  • Vantiv announces agreement to provide merchant services to MUFG Union Bank.
  • Symitar division of Jack Henry introduces Malauzai-powered Episys Anywhere.
  • Breaking Banks interviews Derek Corcoran, Founder of Avoka.
  • App Annie releases new app, VPN Defender, published by Smart Sense.
  • Currency Cloud partners with XE.com to deliver money transfer solution for business.
  • Excess Return launches new Ideas Center and Screener modules in partnership with Keytrade Bank
  • Coinbase introduces Multisig Vault to enable companies to control their private keys on Coinbase.
  • Benzinga interviews Howard Lindzon on what’s next for StockTwits.
  • Quantcha enhances stock options search engine with integrated trading from Tradier.
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.

Alumni News– October 3, 2014

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgFinDEVr award winner Yodlee launches IPO; raises $75 million in Thursday debut.
  • It’s a wrap – FIS announces completed acquisition of Clear2Pay.
  • Boku partners with O2, EE, and Vodafone in bid to boost non-digital e-commerce.
  • Congratulations to the first FinDEVr award winners: Avoka, BehavioSec, PayPal, and Yodlee.
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.

FinDEVr San Francisco 2014: Award Winners

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Q. What’s better than being one of the more than 400 industry professionals attending the very first FinDEVr conference this week?

A. Being one of the four companies to walk away with one of the very first FinDEVr awards, that’s what!

Four companies were selected as favorites by attendees here on Day 1 of FinDEVr San Francisco 2014. Attendees were challenged to choose between entertaining and informative presentations, exciting new technologies, and fascinating innovations that push the envelope of what is possible when commerce and science, technology and finance come together.

FinDEVRSF2014_trophies
Remember that FinDEVr continues tomorrow on Wednesday with a full, multi-track day of workshops, presentations, and networking. We’ll build on the momentum from Day One to bring you the latest in SDKs and APIs, tools and platforms, that are already paving the way to the fintech innovations of tomorrow. Visit our registration page today to grab a spot.
So without further ado, here are the favorite first-day presentations in alphabetical order:

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Avoka for its engagement platform that enables omni-channel account opening in 60 seconds.

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BehavioSec for its mature identification system that uses behaviour analytics to provide real-time security.
PayPalBraintreelogo

PayPal & Braintree for its construction of new breeds of payment platforms, API standards, and identity systems.

YodleeInteractiveLogo2

Yodlee for its Interactive APIs that provide authorized access to real-time data for customer accounts.


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. 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 awarded trophies.  

FinDEVr 2014: Avoka Presents Transact 4.1 to Provide Omni-Channel Account Opening

Avoka_hi_res_FS2014

This post is part of our live coverage of FinDEVr San Francisco 2014.

Avoka presented its platform that eases and accelerates customer onboarding.

Omni-Channel & Social Account Opening in 60 Seconds

Avoka will demonstrate omni-channel account opening through our engagement platform demonstrating:
  • Responsive & adaptive design
  • Cross-over between channels
  • Pre-fill from social profiles
  • ElectID verification
  • Separation of information capture from core systems to facilitate early cross-sell
Presenters: Derek Corcoran (Chief Experience Officer) & Howard Treisman (CTO)
AvokaHome_FinDEVr2014
About:
Avoka is a leading customer experience management company specializing in multi-channel customer transactions. Avoka powers customer engagement applications for banking and insurance organizations worldwide, capturing and delivering business-critical transactions into back-office systems.
Website: avoka.com
Twitter: @avokatech

FinDEVr Preview: FinancialApps, Avoka, Xero, and InComm

FinDEVrLogo

We’ve been helping you prepare for FinDEVr for a few weeks now. Between the presentations, networking, and workshops, there will be a lot to keep busy with during the show, so we wanted to make sure you’re ready.

Today we’re featuring:

To join in on the action, you can get your ticket here.

AvokaLogo

Avoka is a leading customer experience management company specializing in multi-channel customer transactions. Avoka powers customer engagement applications for banking and insurance organizations worldwide, capturing and delivering business-critical customer transactions into back-office systems.

Keynote: Omni-Channel & Social Account Opening In 60 Seconds
Avoka will demonstrate omni-channel account opening through our engagement platform demonstrating
    • Responsive & adaptive design
    • Cross-over between channels
    • Pre-fill from social profiles
    • ElectID verification
    • Separation of information capture from core systems to facilitate easy cross-sell.
Workshop: Build An Omni-Channel Account Opening Experience In Under 60 Seconds
Avoka will build an account opening experience in under an hour that Is responsive & adaptive
  • Supports cross-over between channels
  • Is integrated to social media for pre-fill
  • Is integrated to electronic ID verification
  • Facilitates cross-sell with loose coupling to core systems
Benefits for developers:

  1. Omni-channel digital customer experience
  2. Analytics platform to understand your customers engagement experience that enables;
  3. Speed, agility and rapid decision making
Omni-channel customer experience in days instead of weeks or months.

FinancialAppslogo

Financial Apps provides a suite of developer tools and API access for financial account and transactional data. Our solutions help to quickly build the next generation FinApp. The Financial Apps Relevancy Engine helps make data actionable, providing a comprehensive solution for Fintech development

Keynote: Driving the Data to Action
Detailed financial data is the “Big Data” we all want to work with. In this presentation, Financial Apps is showing how its Platform and Relevancy Engine enables developers to access, consume and integrate consumer financial data within their solutions..
Workshop: Get Relevant: Driving Data to Action
The Financial Apps Platform simplifies the way developers build, manage, and scale their applications’ transaction driven components.  ​In this workshop, we will demystify the process of transforming financial data into relevant solutions that can directly consumed by your applications. Learn how to:
    • Connect to financial data using Financial Apps’ easy to use RESTful based JSON API and developer libraries
    • Construct complex data aggregations in minutes using Boolean logic with the FA Relevancy Engine Interface
    • Execute and deliver new datasets at run time speed and make schema changes without system interruptions
    • Create queries and rules that analyze your data and deliver actionable results and alerts
Benefits for developers:

    1. Broad API providing access to your consumers Financial Data.
    2. Data Modeling and Workflow capabilities integrated within the platform.
    3. Solutions to make data actionable
Currently powering industry leading FinTech applications, The Financial Apps platform and tools are available for integration today! We make data actionable


InCommLogo

InComm is the leading provider of prepaid and transaction technologies with 400,000 points of distribution, nearly $ 30 billion annual transaction volume and reaching over 1 billion customers weekly.


Keynote: Cashtie API – Rails for Cash Payments

Cashtie is an API that enables cash payments for bill pay, funding an account and money transfer at InComm’s retail network. The Cashtie API connects to a transaction processing platform and is the rails for cash payments from its partners.
Workshop: Cashtie API – Democratizing Access to Retail POS
In this workshop we are showcasing how we democratized access to the POS (Point of Sales) of some of the largest retailers in the world like Walmart, CVS, Rite Aid, Target, Family Dollar and many more. We are demonstrating how to insert transactions as line items into the customer receipt including validating pre-tender transactions and completing post tender.
We are also presenting various use cases how the Cashtie API is used to digitize cash payments and touch on our different integration methods for developers.

Why it’s great for developers: 
  • Digitizing cash
  • Democratizing access to large retailers POS
  • Instantly build retail network for cash acceptance
Use Cashtie to streamline and simplify cash payments.

XeroLogo

Xero is beautiful, easy-to-use online accounting software for small businesses and their advisors. The company has over 300,000 paying customers in more than 100 countries around the world. Xero ranks No. 1 by Forbes as the World’s Most Innovative Growth Company.

Keynote: Open for Small Business
Small business is at the heart of every economy. Simple efficiency gains like eliminating data entry or getting paid twice as fast can make or break a business. At Xero we’ve created an open, extensible platform upon which hundreds of developers have created tools and joined our mission to make small businesses all over the world succeed.
Workshop: Building an API driven Ecosystem for Small Business
In this session, you’ll hear how Xero has successfully grown it’s marketplace to over 300 integrated applications. How we’ve structured our developer partner program and built our open API as well as the key lessons we’ve learned along the way.
Why it’s great for developers:
    • Integrated Accounting
    • Open API 
    • Successful Partner Program
Xero provides an Open API, with the opportunity for integrated accounting between important small business applications.

If you missed any of the previous FinDEVr Preview posts, check them out below:

Alumni News– August 28, 2014

  • Finovate-F-Logo.jpgPymnts features PayPal’s OneTouch mobile payments app.
  • American Banker considers how banks are looking closely at how BillGuard uses geolocation to prevent fraud.
  • Taulia launches SupplierPay.org to help corporations support the White House’s SupplierPay initiative.
  • IBM and Monitise expand partnership to combine IBM’s sales and specialist resources with Monitise’s Mobile Money services.
  • Pymnts.com feature on lending shares observations on consumer credit from Lending Club.
  • Forbes column on natural language processing features Narrative Science and Yseop.
  • Wired.co.uk profiles BehavioSec in its Stockholm category of “Europe’s hottest startups” in 2014. See BehavioSec at FinDEVr this fall.
  • CopSonic joins the FIDO Alliance.
  • Markets Media features interview with Avoka CEO Phil Copeland.
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.

Avoka Launches TransactWeb to Turn Paper, PDF and Web Forms into Digital SmartForms

Avoka_hi_res_FS2014

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

Making their way to the stage now is the team from Avoka.

Avoka TransactWeb is the Customer Transaction Experience Game Changer. As the leading Multi-Channel Data Collection SmartForm & Transaction Management System, it transforms mobile-unfriendly, painful-to-fill-in, hard-to-maintain, slow-&-dirty-data, channel-constrained Paper, PDF, or Web Forms (such as account opening & loan applications, permits & license, student enrollment, and insurance claims) into mobile-optimized, easy-&-intuitive-to-fill-in, fast-&-agile-to-maintain, high-quality-data Multi-Channel SmartForms for a seamless, multi-channel customer transaction experience.
It also announced a partnership with miiCard that will allow customers to use their miiCard online ID verification to replace physical ID verification.
Presenting: Phil Copeland (CEO) and Jeff Kalicki (Senior Account Executive)

Product Launch: March 2014
Metrics: Over 100 employees; offices in US, UK, and Australia; tier 1 & 2 Financial Services clients; government clients in US, UK, and Australia; industry-leading NPS score (+41).
Product distribution strategy: Direct to Business (B2B), through other fintech companies and platforms.
HQ: Denver, CO
Founded: January 2002
Website: avoka.com
Twitter: @avokatech

FinovateSpring 2014 Sneak Peek: Part 6

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Welcome to the finale of our FinovateSpring 2014 Sneak Peek series. If you’re just joining us, then you might want to check out the previous five installments of our Sneak Peek (see below). There’s no better way to get to know the entrepreneurs and innovators who will be demoing on the Finovate stage on April 29 and 30 in San Jose.

You can find out more about our upcoming event – including our new location and locale – on our FinovateSpring 2014 page here.

Today we wrap up the series with eight more companies, starting with transaction management specialist Avoka and ending with WePay, an innovator in risk analysis for merchants, crowdfunders, and software makers. In between, we’ll talk security and digital currencies, alternative lending and credit decisioning, credit card vaults and Insurance Buying 3.0.

Enjoy!

Avoka_lo_res_logo
Avoka TransactWEB – an Omni-Channel 2.0 customer transaction experience form the leaders in SmartForm & Transaction Management.
Features:
  • Omni-Channel 2.0 – Seamless crossover between channels in a single transaction
  • Integration with ID verification and signature services for maximum convenience
  • All delivered without programming
Why it’s great:
Avoka TransactWEB delivers an Omni-Channel 2.0 experience for account opening, loan origination, etc. without programming.
Presenters:
Phil Copeland, CEO and Co-Founder
Phil is responsible for the company’s business strategy and worldwide operations.
Jeff Kalicki, Account Manager
Jeff is comfortable presenting technology to all levels of business, as well as leading architecture discussions.

Coinbase_lo_res_logo

Coinbase is a bitcoin wallet and platform where merchants and consumers can transact with the new digital currency bitcoin.
Features:
  • The ability to debit customers for a more convenient checkout experience
  • The ability to set individualized merchant permission controls via API keys
  • The ability to use recurring billing
Why it’s great:
Coinbase offers innovative tools that allow merchants to accept bitcoin payments easily and securely.
Presenters:
Roger Gu, Business Development Manager
Roger leads payment partnerships at Coinbase. He previously worked in Strategy and Development at Visa and in Investment Banking at Marcum Cronus. Roger holds an A.B. in Economics from Princeton.
Nahid Samsami, Business Development Manager
Nahid previously worked as a senior product manager at Playdom, acquired by Disney Interactive. She began her career at Bain and Company and holds a degree in Economics from Stanford University.

CUneXus_Solutions_lo_res_logo

CUneXus’ unique lending platform integrates at all digital and physical touch points, delivering an omnichannel borrowing experience, proven to significantly increase loan volume and reduce acquisition cost.
Features:
  • Customers can easily access loans anytime, anywhere – with no loan application
  • Lenders enjoy increased product penetration, loan volume, and ROI
  • Simple integration with online and mobile banking
Why it’s great:
CUneXus helps lenders drive substantial loan volume, by providing customers a refreshingly simple on-demand borrowing experience across traditional, online, and mobile banking channels.
Presenters:
Dave Buerger, Co-Founder and President
Dave is a finance and marketing visionary who has been recognized by CUNA and CUES for award-winning strategies that have yielded record loan volumes and response rates.
Darin Chong, Co-Founder
Darin is an expert strategist and has been instrumental in the development of the company’s Comprehensive Pre-Screened Lending (CPL) strategy.

OnBudget_lo_res_logo

OnBudget develops PFM tools, Mobile Apps, and Bank Companion Cards that give banked consumers simple budgeting tools and banks a profitable way to monetize them.
Features:
  • Uniquely profitable prepaid product simplifies banked consumers’ budgeting needs
  • Auto learns users’ spending habits, suggests budgets
  • Analyzes spending trends, offers insights/savings opps to help users stay on track
Why it’s great:
OnBudget’s intuitive and interactive solution delights banked consumers by simplifying their budgets. It’s a bank companion card that provides real consumer value at no cost to the consumer.
Presenter:
Jim Collas, President and CEO
Jim is a personal computing pioneer with nearly 30 years of senior exec
utive experience in computers, prepaid cards, and consumer markets. He is a successful entrepreneur and visionary leader.

Spreedly_lo_res_logo
Spreedly is the independent credit card vault that works with any PCI end point API. We provide all the benefits of tokenization without gateway lock-in.
Features:
  • Quickly extend your business to non-gateway end point APS’s (hotel, ticketing, transportation, restaurants)
  • Automatically update lost/expired cards
  • One integration, 60+ gateways, 70+ countries
Why it’s great:
Spreedly gives you all the flexibility of having your own credit card vault without the headache of PCI compliance or building your own integrations.
Presenter:
Justin Benson, CEO
Justin specializes in scaling startups from concept to IPO/acquisition. He’s experienced in driving direct revenue and leveraging partnerships to achieve double-digit SaaS revenue growth.

Sureify_lo_res_logo
Sureify educates consumers on their life insurance options, helps them build a plan that’s right for them, and take the next steps to get covered.
Features:
  • Learn about life insurance from simple text, visuals, & videos
  • Unbiased, third-party source for life insurance education
  • Define needs and build the right plan for you quickly
Why it’s great:
Sureify is the only unbiased, third-party source for life insurance education online.
Presenters:
Dustin Yoder, VP of Business Development
Dustin leads strategy, product and business development. Loves talking with our customers, prospecting all possible channels, and relationship building in every part of our business.
Chris Cichon, Marketing
Chris drives marketing and customer experiences. Loves digital marketing and growth hacking; dabbles in front-end web development.

True_Link_Financial_lo_res_logo
True Link protects vulnerable seniors from predatory marketing and fraud.
Features:
  • Seniors are victims of $100bn/year in scams
  • Seniors are the largest, fastest growing market in the U.S.
  • True Link is the killer app for the 43 million people caring for their aging parents.
Why it’s great:
Everyone deserves a safe way to spend their money without having to worry about scams, fraud or spending mishaps.
Presenter:
Kai Stinchcombe, Founder and CEO
Kai is a data scientist and entrepreneur who created the True Link Prepaid Visa Card after discovering that his grandmother was the victim of several credit card frauds.

WePay_lo_res_logo
WePay enables marketplaces, crowdfunding sites, and business software makers to offer payment services to their customers without worry about risk or loss.
Features:
  • WePay’s Veda risk engine leverages big data to make better decisions
  • WePay’s Innovative Risk API collects risk data from platform partners
  • Veda analyzes social footprint to verify users
Why it’s great:
Through its proprietary Veda social risk engine, WePay gives platforms a flexible payment API that provides a great user experience while still taking on all their fraud risk and compliance burdens.
Presenter:
John Canfield, VP Risk Management
John leads all our risk strategy, processes and tactics at WePay. He holds a Masters and Bachelors in Electrical Engineering and Computer Science from MIT and an MBA from Stanford.

FinovateEurope: Behind the Scenes with Avoka, BehavioSec, The Currency Cloud, and Efigence

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:

AvokaLogo.jpg

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.

AvokaStartPagePlaced.jpg
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.
AvokaMobileUX.jpg
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.
AvokaCallBackPhone.jpg
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.
BehavioSec_swipe_shot.jpg
“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.
Behaviosec_swipeshot_2.jpg
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.
thecurrencycloud_homepage.jpg
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.”
thecurrencycloud_howto1.jpg
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.
thecurrencycloud_howto2.jpg
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.
thecurrencycloud_videoscreen.jpg
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. 

EfigenceIMG1.jpg
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.
EfignceIMG2.jpg
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:

Avoka Debuts its Multi-Channel, Digital Online Business Platform, Avoka Transact

Thumbnail image for Thumbnail image for AvokaLogo.jpgThis post is part of our live coverage of FinovateEurope 2014.

Heading toward the mid-morning break, our next demoing company is Australia-based Avoka, with Avoka Transact.

Avoka Transact, a multi-channel digital business platform, delivers a complete transaction experience that goes beyond ‘online forms’. Avoka Transact:
  • Gives your customers the tools and convenience of moving seamlessly between devices and channels when completing a single transaction.
  • Transforms enterprise-level form-based transactions from account opening, loan applications, and claims in to cross-channel forms available on smartphones, tablets, and desktop computers.
  • Supports your customers with both self-service and assisted channels such as in-branch, call centers, and mobile sales staff.
Presenting Derek Corcoran (Head of Business Solutions) and Kevin Mortimer (Technical Director)

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IMG_3715.JPG
Product Launch: March 2014
Metrics: Over 100 employees, offices in Australia, USA, and UK, tier 1 & 2 Financial services clients, government clients in USA, UK, and Australia, industry leading NPS score (+41)
Product distribution strategy: Direct to Business (B2B), through other fintech companies and platforms
HQ: Sydney, Australia
Founded: January 2002
Website: avoka.com
Twitter: @avokatech