Here’s a look at another set of companies who showed off their new technology at FinovateEurope in London last month.
If you missed the previous behind-the-scenes features, you can check them out below:
What they do
With its mobile tablet app, iStockTrack, Luxoft aims to give premium bank clients a single, powerful tool to compare stocks, monitor their wealth, do daily banking activities, keep up with industry news, and more.
- 7,000+ employees
- 19 offices worldwide
- 130+ clients
- 300+ successful projects
- Public company NYSE: LXFT
The screenshot below, which captures the user experience on the iPad, illustrates the client view of their net worth in the Banking tab. The top of the screen details the user’s individual accounts, while the graph in the middle shows a visual representation of the user’s net worth over time and projected future net worth.
Near the bottom, the user has access to tools such as a calculator, a video chat connection to their advisor, and an ATM locator. The user can customize these to their individual preferences.
This screenshot shows the user’s Favorites section that breaks down an individual stock (in this case, Google). It includes a comprehensive view of the stock, including data, a written business summary, and the ability to compare it with other stocks.
Also noteworthy is the Analyst Consensus section in the bottom right corner, which advises the user on the option to buy, sell, or hold a stock.
The screenshot below shows stock indices along the top, along with relevant events on the bottom right, and news on the left. Written news releases are located along the left side, and are complemented with videos on the bottom help to further inform the user on their trading decisions.
Luxoft can bring iStockTrack to any banking client within 4-6 weeks.The app can be re-skinned to match the branding preferences of any financial institution.
What they do
Among Topicus Finan’s many different solutions is its self-serve small business lending product, which it demoed at FinovateEurope. This product-as-a-service provides entrepreneurs with an easy-to-understand view of their business financials along with tools such as what-if analyses to determine the financial impact of possible decisions.
Simultaneously, the lending institution is given full visibility into the business owner’s financials and decisions, and even informs them when the entrepreneur is seeking additional capital.
- 52 full time employees and growing
- Turnover in 2013 was €4.1 million
The below screenshot illustrates the entrepreneur’s view of their small business finances. In this case, after the client logs on via their tablet’s web browser, they see an advisory graph that shows the assessment rating that the business receives on 6 different pillars: Capital, Liquidity, Return on capital, Revenues development, Payment behavior, and Payment credit charges.
The entrepreneur can also view graphs of their solvency rate, gross profit margin, and net cash. Additionally, they have the ability to see how each of these metrics will change with different scenarios such as purchasing equipment or adjusting labor.
The financial institution is given a full view of the small business’ finances. In this case, the business owner tested a what-if scenario about financing a new piece of machinery, and realized he did not have the cash flow to make it happen.
Afterwards, the loan officer was alerted that the client needed additional capital to purchase the new piece of machinery. At this point, the loan officer can easily view the actual business metrics to help make the decision about how much capital to offer.
Topicus Finan counts ING as one of its largest customers. The Dutch bank uses Topicus Finan’s software worldwide.
Check out Topicus Finan’s live demo video from FinovateEurope here.
What they do
Jumio’s Fastfill speeds up a bank’s customer acquisition process by extracting data on a customer’s ID document. After scanning an ID such as a passport or driver’s license just once, the new client no longer needs to bother with filling out multiple fields on a form.
- Raised $37 million, $25 of which was from Andreessen Horowitz
- PCI 1 Certified
To open an account, the user is faced with the following 12-field form. In order to expedite the process and decrease friction, the user is presented with the option to scan their ID.
The user scans their ID document, just as they would a check during a remote deposit capture process. Acceptable documentation includes a drivers license, passport, or government-issued ID.
The screenshot below shows what the form looks like after it has extracted the information from the ID.
Jumio also offers two other products that use its imaging technology, Netswipe,
which allows consumers to pay by taking a picture of their credit card, and Netverify,
which uses facial comparison to determine if users are who they say they are.
Check out Jumio’s live demo from FinovateEurope here.