FinovateAsia 2012 Sneak Peek: Part 1

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For our first ever FinovateAsia conference, we’ve selected 36 leading innovators to take the stage in Singapore on November 6.
Each company provided a sneak peek of what they’ll demo 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 be a part of our inaugural FinovateAsia conference. Get your ticket here.
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Airline pilots train in flight simulators, known to be one of the most effective training methods. After the financial crisis, isn’t it about time your risk managers have access to the best training techniques?
BankersLab offers training products designed to enhance a banker’s ability to develop and test strategies in a range of real-world market conditions. Utilizing a blended learning model, BankersLab integrates numerical simulations, scenario games, the gamified classroom, and m-learning for optimal understanding and knowledge retention. 
BankersLab’s comprehensive suite of products suits all skill levels; ensuring your teams are the best trained in the industry.
Innovation type: Cards, lending, payments

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BellaDati launches BellaDati agile analytics and reporting cloud tool for financial data analysis. 
BellaDati reinvents the way business users can interact with data. BellaDati will introduce features like GEO analytics, mobile reporting BellaDati Piccolo or social network for business data analysis. All this topped with easy connectivity to various data sources. Stay tuned to the new wave of business analytics inspired by gorgeous Isola Bella island located close to the Sicilian coast. 
Innovation type: Back office, mobile, sales

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Bank lending to thin-and no-file small businesses in emerging markets is a billion dollar opportunity – yet traditional lending requirements make it inefficient and expensive. EFL’s Credit Screening Tool, which uses non-traditional data such as psychometric principles that statistically relate entrepreneurial qualities such as intellect, business acumen, ethics, attitudes and beliefs to credit screening, makes lending scalable and profitable. 
EFL will show how seamlessly its partners have integrated Credit Scoring Tool to their existing lending processes to increase their loan portfolios by over 100% and decrease defaults by over 40%.

Innovation type: Banking, identity, lending

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Fiserv will demonstrate its world leading mobile banking platform – Mobiliti – used by over 1,000 banks and credit unions around the world. The focus on the demo will be on Mobiliti Reach – a product to help banks profit from servicing underbanked and unbanked market segments.
Innovation type: Back office, mobile, payments

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Heckyl FIND is a simple and yet powerful platform which integrates real time news, analytic, and sentiment mining in your trading terminals.
Heckyl FIND provides the first and a very powerful enterprise social trading terminal enabling your analyst to collaborate in real time with Traders, exchange great ideas, trading insights and empower your Traders with all the information to take the next action, here on Heckyl Dashboard.
Heckyl FIND is exclusively for financial institutions, brokerages and the trading community to get access to real time trading ideas, research reports, economic alerts and much more.

Innovation type: Investing, online UI, PFM

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Innovation Café is an advanced crowdsourcing innovation platform for companies to engage their innovation communities. It is highly configurable and able to provide for both private and public ecologies, as well as emergent and structured innovation approaches. 
Innovation Café is a lightweight platform with advanced white labeling, and custom theme capabilities. It has the ability to integrate with different systems and provide detailed reporting. Crowdsourcing and community collaboration are used to focus the attention on business objectives, enhanced through idea challenges.

Innovation type: Banking, mobile, online

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Get peace of mind knowing that your company’s financial mobile app is secure. Metaforic technology stops malware and hackers in their tracks. See live, an attempted malware attack on a mobile app and the technology that st
ops it.
Innovation type: Security

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With fewer people going to branches due to the convenience of internet, it weakens banks’ ability to acquire, develop a face-to-face personal relationship and recommend relevant products to their customers. 
Users are also spending very little time on internet banking due to a very transactional “touch-and-go” behavior. So how do you get the right customized products to the right customer at a time when they most need it?
Innovation type: Marketing, PFM, rewards

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Sandstone will be showcasing its ‘next generation’ consumer banking solution combining internet and mobile banking, personal financial management and loan origination capabilities to form a powerful end-to-end customer acquisition and retention tool.
Building on the “anytime, anywhere” capabilities of emerging tablet and smart phone platforms, Sandstone will show how consumers can interact with their bank for a range of integrated banking services.
For example, we will demonstrate the customer’s experience of finding and purchasing a new home, including property suggestions based on their savings, property selection, valuation, credit assessment and loan approval – all in real time from any device
Innovation type: Lending, marketing, PFM

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Strands Finance is presenting new “What If” functionality that takes PFM historical data and makes it relevant for the future. Users will gain greater insight and control of their financial health with little to no effort. 
For banks, the data is invaluable to better advise their customers. Strands has developed and leveraged pattern identification algorithms that help model future scenarios and the impact to the user’s short-term cash flow to long-term net worth.
Innovation type: Mobile, online, PFM

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The 21st century customer is all about the experience. 
To be ahead of competition, retailers and banks need to drive revenue through new channels and differentiate themselves through unique customer experiences to build loyalty. With the combination of time, relevance, and behavior, TIBCO offers an integrated solution linking the end-users, retailers and banks – anytime, anywhere.
Innovation type: Mobile, payments, rewards

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Wipro will debut its Wipro SmartOffers solution at FinovateAsia 2012. The innovation provides bank customers with Digital Offers which can be redeemed at merchants for availing benefits/discounts at the time of purchase. These offers may be merchant-or-bank-funded at the bank’s preference. 
The solution is different from the aggregator-centric models currently in practice in the market, championing the bank centric offer model. Wipro’s solution gives the power back to the banks, by making them the center of the Digital Offers Universe. By making the entire offer landscape bank-centric, banks reap the benefits hereto left for aggregators.
Innovation type: Banking, rewards

Finovate Alumni News– October 16, 2012

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgArctic Startup reports: Holvi’s Banking Service Used To Provide Open Budgets For Political Campaigners.
  • VentureBeat features BankersLab’s new CollectionLab simulation game.
  • Team Capital Bank partners with SecondMarket.
  • InComm acquires On-Line Strategies, a software & services company.
  • AT&T signs a multi-year, sole provider agreement for Fiserv’s CheckFreePay walk-in bill payment service.
  • Australian IT reports MyCyberTwin plans to expand into mass uptake market after setting out to prove itself in the enterprise sector.
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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Finovate Alumni News– October 15, 2012

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgTradeshift announces strategic partnership with PrimeRevenue SCF.
  • Thomson Reuters launches mobile web app for investor relations.
  • CashStar and Comet launch UK’s first comprehensive eGift card program.
  • PaySimple appoints former PayPal employee Andrew Lanthier as CTO.
  • Upstart Business Journal looks at the approach Kabbage and Lighter Capital take on small business financing.
  • Q2ebanking introduces Q2clarity, customizable analytics across mobile, online and security platform.
  • Barron’s recommends using findabetterbank.com to cut bank fees.
  • City AM reports Monitise user numbers quadrupled in the last year to 17m.
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– October 12, 2012

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgIDentity Theft 911 to offer Humana members ID management & credit monitoring services.
  • ThreatMetrix honored as bronze winner in the 4th annual 2012 Golden Bridge Awards.
  • Euromoney looks at SoMoLend as a funding alternative.
  • ReadyForZero answers questions about debt on Lifehacker.
  • Geezeo opens API to third party developers.
  • Monitise CFO John Brougham retires.
  • Finsphere issued 4th patent.
  • TIO transforms bill pay options for growing Hispanic marketplace through partnership with Progreso Financiero.
  • Arroweye Solutions’ digital tech powers growth at GiftCard.com.
  • Allied Wallet partners with Swedish e-commerce payment services provider Klarna.
  • Janrain and Bazaarvoice team to enhance social shopping experience via social login.
  • Pageonce and Blackstone Tech Group partner to bring utility companies a mobile payment option for customers.
  • Idaho Central CU launches RDC powered by MShift.
  • MyBankTracker reports Fifth Third Bank Statements Now Available on Manilla.
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.

American Express Now Serves Walmart with Bluebird Prepaid Card

image Wow, the national press jumped all over the American Express and Walmart partnership to sell/service the Amex-branded Bluebird prepaid card nationwide (882 articles linked from Google news).

Analysts waxed eloquent about how Walmart is building out its “banking” services and how much cheaper the prepaid card is compared to a checking account.

But in fact, there will be little impact on Walmart shoppers, who can already buy a similar Walmart-branded prepaid Visa card in its stores. And that Green Dot-powered Moneycard will continue to be available, though it sounds like Bluebird could get more prominence. But that will depend on which company is paying the highest slotting fees/revenue share. 

But what almost all the press coverage overlooks is that Bluebird is only good at locations that accept American Express (4.5 mil in US), whereas the Green Dot card is good anywhere Visa is accepted (8 mil in US). While most major retailers take both (note 1), that’s still a huge difference in value for many Walmart customers.

Look at the current Walmart financial services menu (pre-Bluebird). It already offers every money-handling service under the sun, including a general purpose reloadable prepaid card with no fees for heavy users (see screenshot below).

Walmart MoneyCenter homepage (9 Oct 2012)

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imagePricing
Pricing for both the Amex Bluebird (inset) and Visa MoneyCard are low (see below). The main difference is that BlueBird eliminated monthly fees, while MoneyCard charges $3 per month for anyone who loads less than $1000.

Bottom line: Amex got amazing press out of the deal that should help establish it as a leader in prepaid. But it’s a real unknown how many Walmart shoppers want to carry around an Amex card with less merchant acceptance.

I think it may even cause quite a bit of confusion in-store if the BlueBird card is pushed ahead of the Green Dot version.

And while American Express seems to have made important in-roads, it’s not possible to assess the ROI since we do not know how much it is paying Walmart for the distribution deal.

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Current MoneyCard fees (9 Oct 2012)
Note: Monthly fee is waived for those loading at least $1000 per month to the card

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Notes:
1. Costco takes only American Express, so score one for Bluebird.
2. Customers involved in the Bluebird pilot (sold this year at 80 western U.S. Walmarts) must close their old account prior to 8 Dec 2012 and open a new one. The company is offering a $20 bonus to cover the hassle (link).
3. Amex acquired the website Bluebird.com which currently redirects to BlueBirdMoney.com. A greeting card company operates BlueBirdCards.com, which currently ranks high on Google, but will get crushed by BlueBird.com once the product launches nationwide.

Announcing FinovateSpring 2013 — Come see Silicon Valley’s best fintech innovations debut live in May 2013!

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Today, we’re very excited to announce that FinovateSpring 2013, our San Francisco showcase of the best new fintech ideas from Silicon Valley will take place on May 14-15 next year.

In 2012, the conference grew almost 50% to 1,200 innovators eager to see the future of fintech debut live on stage via our fast-paced, demo-only format. For 2013, we expect the conference to be even bigger and better!

If you want to relive the demos from FinovateSpring 2012 to whet your appetite for next year, they’re all available free in the Finovate Demo Video Archives

If you’re curious the type of people you’d meet at the conference, please check out this small list of sample organizations that attended FinovateSpring 2012.

Tickets for the event are now on sale at the low “pre-sale” price of $995 ($400 off list price). We’re expecting a packed house so please lock in your seat now to guarantee your ability to attend (and these savings).

We’ll see you in San Francisco in May (or Singapore in November)!

FinovateSpring 2013 is sponsored by: Financial Technology Partners and more to be announced

Announcing FinovateSpring 2013 — Come see Silicon Valley’s best fintech innovations debut live in May 2013!

btn2_ov.png

Today, we’re very excited to announce that FinovateSpring 2013, our San Francisco showcase of the best new fintech ideas from Silicon Valley, will take place on May 14 and 15 of next year.

In 2012, the conference grew almost 50% to 1,200 innovators eager to see the future of fintech debut live on stage via our fast-paced, demo-only format. For 2013, we expect the conference to be even bigger and better!

If you want to relive the demos from FinovateSpring 2012 to whet your appetite for next year, they’re all available free in the Finovate Demo Video Archives

If you’re curious the type of people you’d meet at the conference, please check out this small list of sample organizations that attended FinovateSpring 2012.

Tickets for the event are now on sale at the low “pre-sale” price of $995 ($400 off list price). We’re expecting a packed house so please lock in your seat now to guarantee your ability to attend (and these savings).

We’ll see you in San Francisco in May (or Singapore in November)!

FinovateSpring 2013 is sponsored by: Financial Technology Partners and more to be announced

Nutmeg Launches Out of Private Beta

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London-based Nutmeg, a startup that provides private investment management services to the public, launched out of private beta yesterday.

With a minimum investment of £1,000 ($1,613), U.K. residents over the age of 18 can use Nutmeg’s platform to help them choose the best portfolio balance. According to the Wall Street Journal blog:

“Users joining the service complete a financial profile including assets, income and expenditure, as well as a financial personality profile. For each fund a user sets a target sum to be raised, when they need it, how much, and how often, they want to invest, and the level of risk they are prepared to take.”

All funds are held by The Bank of New York Mellon.

To learn more about Nutmeg, watch its FinovateEurope 2012 demo.

Finovate Alumni News– October 8, 2012

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgCU Insight reports CU Solutions Group partners with SaveUp.
  • mFoundry announces cloud-based Fin.X solution.
  • Taulia featured on Start-ups and Technology: Real Game-Changers presented by SAP.
  • Kashoo CEO, Jim Secord, gives company update.
  • AOL Daily Finance reports Dynamics and UMB increase experience provider rate to 0.5% for ePlate payment system.
  • Business Insider goes behind the scenes of LearnVest’s latest product launch.
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.

Chase Bank’s Remodel: The Death of the “Swiss Army Knife” Banking Homepage?

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I’m still digesting Chase’s radical homepage
redesign (see screenshots 1 & 2). While I love the focus
on just three product messages, devoting 50% of the page (above the fold
even
) to the login button seems like a lost opportunity. Perhaps it’s a
temporary welcome area to ease users back onto the site.

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Only existing customers get the half-screen
login. Non-customers get an additional marketing message on about two-thirds of that
space (see screenshot 3).

The new site looks great on an iPad (portrait or landscape), but it’s not
served to iPhone users at this point. They still see the ultra-trim mobile
screen <m.chase.com>. 

The bank has drastically reduced navigation options. A single tab called
Products & Services launches a dropdown box with links to all the
product areas (see inset).

A second tab, Why Chase?, lays out the major benefits, the
missing tab
at most banking sites. And the final tab, which seems completely
redundant, causes a drop-down login box to appear.

Although I missed it initially, Chase has not done away with the
Personal/Business/Commercial designations. Tiny links in the upper left
allow users to head to the appropriate business version. Biz services are also
listed on the Products & Services dropdown (bottom of inset).

Bottom line: Chase has moved past trying to be all things to
all people on the homepage. That’s huge, and I hope it becomes a trend. Both
Citi and Bank of America have taken similar
paths recently. But Citi uses
striking photography
in the background to give it a more luxurious feel
(as does Salem
Five
). And Bank of America exposes more product areas across the top
(Bank, Borrow, Invest, Protect, Plan).

All in all, I applaud the streamlining after what must have been an epic
battle. But I don’t think the bank has completely hit the mark. Make it an A-  

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1. Chase Bank homepage on first visit (4
Oct 2012; with customer cookies; via PC Chrome browser
)

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2. Return visit
Note: Welcome to
our New Home Page replaced with Slate credit-card promo (lower-link portion of
page remains the same and is not shown below)

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3. Chase Bank homepage with no customer
cookies

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4. Landing page explaining changes (link)

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ShopKeep POS partners with BlueStar to Distribute Cloud-Based Point-of-Sale Solution

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Cloud-based point-of-sale system, ShopKeep POS, announced today that it has partnered with BlueStar, a distributor of mobility, POS, RFID, digital signage, and security technology solutions.

Through this partnership, ShopKeep POS is able to provide a complete POS system, with software and hardware that uses BlueStar’s bundled “In-A-Box” offerings.

It also gives ShopKeep POS access to more resellers. Now, 16,000 resellers across the U.S. will be able to buy the cloud-based solution directly from BlueStar and join the 3,000 locations that already use it.

To learn more about ShopKeep POS, watch its FinovateFall 2012 demo.

Finovate Alumni News– October 5, 2012

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  • Ping Identity teams with Criterion Systems to develop secure consumer cloud ID ecosystem.
  • TIO Networks retains Hayden IR to develop strategic US investor relations program.
  • Kapitall and Wired unveil the Social Index.
  • Dwolla releases major updates to its API.
  • Check Point positioned as a Leader in the 2012 Magic Quadrant for Mobile Data Protection.
  • The Next Web lists Fee Fighters as a startup in a small business tech trend space.
  • Business Insider names Wonga and Klarna to its 2012 Digital 100 List.
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.