Finovate Debuts: Finanteq Helps Innovative Banks Succeed in Mobile with SuperWallet

most Finanteq_homepage_Nov2015

Can you imagine spending as much time with your banking app as you do with Facebook or Twitter?

Not only can FINANTEQ imagine it, but with its new banking app, SuperWallet, the Polish spinoff from eLeader is doing everything it can to make it happen across Europe and, soon, across America.

FINANTEQ’s goal is to move banks from the end of the value chain to the front. “Right now the bank is just an icon on a credit slip,” said FINANTEQ customer adviser, Kate Miroslaw. FINANTEQ’s SuperWallet reverses this deficiency by combining mobile banking, payments, and m-commerce all in one mobile banking app. Rather than being an afterthought, the mobile banking app suddenly is at the center of attention when it comes to paying bills, booking a flight, or ordering concert tickets.

Finanteq_stage_FF2015

From left: Finanteq m-Commerce Operations Manager Tomasz Perski; Customer Adviser Kate Miroslaw; and Marketing Manager Artur Malek demonstrated SuperWallet at FinovateFall 2015.

“Would people love the Starbucks app so much if it were just about payments?” asks Artur Malek, marketing manager for FINANTEQ. His point is that by allowing customers to do things like order ahead, the app transforms the consumer experience for the better. “This is the added value beyond payments,” Malek says. “And this is exactly what we do.”

Company facts:

  • Founded in September 2014 as a spinoff from eLeader
  • Headquartered in Lublin, Poland
  • Employs 100 professionals in Poland and the United States.

Finanteq_screen_1How it works

The way FINANTEQ sees it, banks theoretically have many ways to build relationships with their customers. But the actual interactions between banks and customers often don’t live up to these opportunities. “Selling to customers doesn’t happen very often,” Malek points out. And while payments are frequent, banks are often bystanders to the transaction, and besides, the payment space is increasingly being infiltrated by non-bank actors such as Apple and Samsung.

FINANTEQ’s solution is simple: combine e-commerce, banking, and payments in one app provided by the bank. In their demonstration of SuperWallet, the team from FINANTEQ walked through a wide variety of scenarios: checking account balance, booking a hotel, paying for parking remotely, buying concert tickets, hiring an Uber car, ordering groceries or takeout … all without leaving the app.

This means consumers don’t have to install numerous apps and, more importantly, don’t have to share data with scores of merchants. The bank safeguards the sensitive data transmitting only what is required for a transaction.

Finanteq_art_4“Payment is made using data in the app, delivery address and other details of the transaction,” says Tomasz Perski, e-commerce operations manager. “There are many shops inside the app, but once authorized, there is no need for login or password. The services and shops available are chosen by the bank (bank partners) or by Finanteq, and the app can also feature offers and discounts.”

The future

Superwallet has been available in Eastern Europe since 2014 courtesy of early client Santander Group. And two new banks in Poland are expected to come online with the technology in early 2016. FINANTEQ is currently building out its U.S. team in anticipation of entering the U.S. market. Malek says the company is building relationships with merchants, especially aggregators. He mentioned that FINANTEQ now offers bus-ticket purchases in more than 130 cities.

Called one of the most innovative mobile banking apps by Forrester Research, Superwallet also won the Citi Mobile Challenge in April 2015 in Warsaw by taking top honors in the digital wallet category.

Currently, FINANTEQ has good traction in the CEE region. Its clients are some of the biggest and most innovative banks in countries like Poland, including Finovate alum, mBank, which is also a client.


Check out this video of FINANTEQ’s FinovateFall 2015 demonstration.

Finovate Alumni News

On Finovate.com

  • “Finovate Debuts: FINANTEQ Helps Innovative Banks Succeed in Mobile with SuperWallet”
  • Check out this week’s “FinDEVr APIntelligence”
  • “Union Bank & Trust Picks Prairie Cloudware’s Digital Payments Guardian to Power its Mobile Wallet”

Around the web

  • Iberiabank to deploy retail and SME platform from D3 Banking.
  • New savings app, Hip Money, featured in new video.
  • Fiserv and Alpha Payments Cloud team up to bring easier, faster payment processing to Australia.
  • Markit to begin using Amazon web services.
  • Earthport launches distributed ledger hub with single API access to Ripple.
  • Network International plans UAE deployment of cashless, cardless payment technology developed by Quisk.
  • TechCrunch: “App Annie Adds Support for Apple TV Apps, Including a ‘Top Charts’ Section”

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

 

Finovate’s 2015 Best of Show Winners Give Something to Tweet About

BestofShowIMG

2015 was quite a year for the 800+ Finovate alumni. From acquisitions to IPOs, and everything in between, there was plenty to tweet about. Here are the highlights from the 2015 Best of Show winners:

FinovateEurope 2015

Avoka demoed a three-minute loan application that delivers a fast onboarding experience.

CoinJar showed a technology that enables consumers to buy, sell, and use digital and traditional forms of currency any way they choose, from dollars to bitcoins.

ebankIT demoed its omnichannel and social banking solution that maximizes interaction between FIs and clients.

eToro showed its innovations in social trading and investing for generation Y.

Jumio demoed credentials-management technology Netverify that turns mobile devices into ID document-scanning terminals.

mBank & i3D demoed their interactive, digital retail-branch concept.

Meniga showed off Market Match, its transaction-data analytics and enrichment engine.

FinovateSpring 2015

Alpha Payments Cloud demoed AlphaHub, its omnichannel access platform that helps banks, merchants, MSPs, and ISOs gain access to any solution provider in the world.

Avoka (see above)

Money Amigo showed technology that brings financial services to the underbanked and underserved, delivering traditional banking products in an innovative way.

Moven launched Moven Financial Health Platform that provides real-time contextualized notifications and interactions that create “gamified money moments.”

NAMU Systems demoed “Joyful Banking” which uses new and intelligent behavior modeling to focus on customer behavior and digital experiences to create a new standard in mobile banking.

Shoeboxed.com showcased its Receipt Capture for Banks, a solution that boosts functionality of online and mobile banking apps while providing fraud protection.

Stratos demonstrated its dynamic Stratos Bluetooth-connected card and digital card issuance platform that analyzes card-usage trends and interactively engages card members.


FinovateFall 2015

Blockstack.io launched technology that enables financial services and other enterprises to set up and build applications on a private, hosted blockchain.

Dyme showcased its innovative method for helping people start a savings habit and fund their lifestyle using text messaging.

Dynamics demoed fully programmable interfaces (stripe, EMV, NFC) for use in next-generation payment cards.

Finanteq launched its SuperWallet that helps banks take full advantage of their potential by integrating m-commerce and remote services with mobile banking.

Hedgeable: demoed its private banking platform for millennials.

HelloWallet showed its Retirement Explorer solution, an approachable and actionable online planning tool that helps employees model and work toward specific retirement outcomes.

SaleMove demoed its Engagement Platform and Omnicall technologies that enable online consumers to engage live with businesses as if they were face-to-face.

Soundpays showed its app that recognizes ultrasonic and sonic waveforms even in extremely noisy environments.


Want to see more award-winning demos of the newest fintech ideas? Pick up your ticket FinovateEurope 2016 and we’ll see you in London.

FinovateFall 2015 Best of Show Winners Announced

BoS_TrophiesShot_FF2015

The Best of Show votes for FinovateFall 2015 have been cast and counted! After two days and 70 live demos of the latest in fintech innovation, our attendees made their opinions known as to which companies earned “Best of Show” (see footnotes for voting methodology).

This year at FinovateFall, it was the debuting companies that made some of the biggest impressions on our record-setting Finovate audience. Of the eight companies to take home “Best of Show” honors, five of them were making their very first appearance on the Finovate stage.

So with a hearty “Congratulations!” let’s meet the Best of Show winners of FinovateFall 2015 (in alphabetic order):

BlockstackioLogoBlockstack.io for its technology that enables financial services and other enterprises to set up and build applications on a private, hosted blockchain.

 

dymeDyme for its innovative method for helping people start a savings habit and fund their life using text messaging.

DynamicsLogoDynamics for its fully programmable interfaces—stripe, EMV, NFC—for use in next-generation payment cards.

 

FINANTEQLogoFinanteq for its SuperWallet that helps banks take full advantage of their potential by integrating m-commerce and remote services with mobile banking.

HedgeableLogoHedgeable for its private banking platform for millennials.

 

HelloWalletLogoHelloWallet for its Retirement Explorer solution, an approachable and actionable online planning tool that helps employees model and work toward specific retirement outcomes.

SaleMoveSaleMove for its Engagement Platform and OmniCall technologies that enable online consumers to engage live with businesses as if they were face-to-face.

Soundpays_logo_FF2015Soundpays for its patent-pending technology that allows the app to recognize ultrasonic and sonic waveforms even in extremely noisy environments.

We had a great time at FinovateFall 2015 and hope you enjoyed the show, as well. Thanks, as always, to everyone who attended, sponsored, partnered with and demonstrated their latest technologies at FinovateFall 2015. We’ll see you next year!


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 eight companies appearing on the highest percentage of submitted ballot were named “Best of Show.”
5. Go here for a list of previous Best of Show winners through 2014. Best of Show winners from FinovateEurope 2015 are here. Best of Show winners from FinovateSpring 2015 are here.

Finanteq Presents its SuperWallet with mCommerce Cloud

FINANTEQThis post is part of our live coverage of FinovateFall 2015.

Our final demonstration of the session features the team from Finanteq.

Superwallets are the next generation of mobile banking solutions, combining three important parts—banking, payments, and m-commerce—all in a single mobile app. FINANTEQ extends mobile banking with m-commerce platforms and services like bus tickets, parking feeds, everyday grocery shopping, bill payments, take-out food, coupons, offers, event tickets, flower post, hotel booking, taxis, trains, flights and many others, combined with banking and payments in one unified UX across all services.

Presenters: Artur Malek, marketing mgr.; Tomasz Perski, mCommerce operations mgr.; Kate Miroslaw, customer adviser

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Product launch: 2014

Metrics: Company employs 100 professionals in Poland and the United States
Product distribution strategy: Direct to business (B2B)

HQ: Lublin, Poland
Founded: September 2014 (spinoff from eLeader)
Website: finanteq.com
Twitter: @finanteq

FinovateFall Sneak Peek: Finanteq

FinanteqHomepage

FF2015_logo_date The Sneak Peek series looks at the innovators demoing live onstage to 1,500 execs at FinovateFall. Last chance for tickets!

FINANTEQLogoFinanteq is continually helping innovative financial institutions win in mobile.

Features:

  • Next-generation mobile banking
  • Offers real value over banking and payments
  • Simplifies customers’ everyday lives

FinanteqPresenter1Why it’s great
Superwallets transform m-banking into an m-commerce platform.

Presenters

FinanteqPresenter2Kate Miroslaw, Key Account Manager
LinkedIn

Tomasz Perski, m-Commerce Operations Manager
LinkedInFinanteqPresenter3

Artur Małek, Marketing Manager
LinkedIn

 

Finovate Alumni News

On Finovate.com

  • “FinovateFall 2015: Mapping Fintech’s International Neighborhood”

Around the web

  • Feedzai teams up with Socure to combine social biometrics with fraud-risk scoring. See Socure at FinovateFall 2015 in New York City next week.
  • Moven CEO Brett King joins the advisory board for Jumio.
  • Fiserv joins Visa, Citi, Nasdaq, and Capital One in $30 million funding of blockchain startup, Chain. Join Fiserv in New York City next week for FinovateFall 2015.
  • iSignthis confirms the adequacy of its KYC services for use by financial institutions in the U.S.

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.