Welcome to Day Two of FinovateFall!

Welcome to Day Two of FinovateFall!

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1600!

It’s official: FinovateFall 2016 is our biggest event to date, eight times the size of our first Finovate conference back in 2007. Thanks to everyone who has made it possible. And with our developers’ event FinDEVr Silicon Valley just over a month away, and the return of FinovateAsia coming up in November, there is still much innovation to come.

Our first day of FinovateFall 2016 on Thursday showed how technology can leverage even the most old-fashioned of savings strategies into truly, behaviorally savvy PFM; how a few lines of code can turn abandonment into omnichannel engagement; and much, much more. Relive it all when free videos of every demo are released later this month.

All this just makes us that much more excited for what’s in store for the final day of our annual fall event. So without further ado, here’s the lineup for Day Two.

Registration begins at 8 a.m.

8 a.m. – 8:45 a.m., Registration & Continental Breakfast

8:45 a.m. – 10:15 a.m., Demo Session #5 featuring:

10:15 a.m. – 10:45 a.m., Intermission & Refreshments

10:45 a.m. – 12:05 p.m., Demo Session #6

12:05 p.m. – 1:00 p.m., Buffet Lunch & Refreshments

1:00 p.m. – 2:40 p.m., Demo Session #7

2:40 p.m. – 5:00 p.m., High Quality Networking & Open Bar with Appetizers

Best of Show Winners will be announced during the end of day networking session.

All demo videos will be available for free in a few weeks in our video archives.

New Report from AARP Explores the Longevity Economy

New Report from AARP Explores the Longevity Economy

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Guest post by Theodora Lau*
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By 2015, there were more than 1.6 billion people in the world who were part of the 50-plus cohort. By 2050, this number is projected to double to nearly 3.2 billion people. Throughout the world, the growth of this age group is having a transformative impact, economically and socially. The United States alone is home to 111 million in the 50-plus demographic, representatives of a powerful force driving economic growth and value. AARP has branded the group the Longevity Economy, because it represents the sum of all economic activity driven by the needs of Americans aged 50 and older, and includes both products and services they purchase directly and the further economic activity this spending generates.

The difference it makes is substantial. In the first Longevity Economy report released in 2013 by AARP and Oxford Economics, the Longevity Economy fostered $7.1 trillion in annual economic activity. This figure has now been revised to $7.6 trillion in the latest report. The out-sized contribution reflects the changing demographics, wealth, and spending patterns of the 50-plus population as the lifespan increases and the Longevity Economy becomes more pervasive and central to economic and social policies.

Key findings from this report include the following:

  • The 50-plus cohort represented approximately 35% of the U.S. population in 2015 and was responsible for over $7.6 trillion in annual economic activity—roughly 42% of total U.S. gross domestic product (GDP).
  • Direct spending on consumer goods and services, including health care, by those aged 50 and older, amounted to $5.6 trillion in 2015.
  • Approximately $1.8 trillion in federal, state and local taxes were attributable to the Longevity Economy in 2015—about 34% of federal tax revenue and 41% of state and local tax revenue collected in the U.S.

The economic contributions of the Longevity Economy are evident, and the beneficiaries are not limited to those over 50. In fact, the spending of the Longevity Economy supports more than 89.4 million jobs (61% of all U.S. jobs) and over $4.7 trillion in labor income.

As Jody Holtzman, senior vice president of market innovation at AARP, would often say:” Why would you leave money on the table by ignoring the only humongous growth-market that exists?!” So the question for entrepreneurs and VCs is simply this: What is your 50+ strategy?

The Longevity Economy Report is available for download at:

http://www.aarp.org/technology/innovations/innovation-50-plus/research/#longevity

For more information about AARP’s technology innovation initiatives and how AARP sparks innovation in the marketplace for the benefit of people over 50, please visit:

http://www.aarp.org/technology/innovations/innovation-50-plus/


*Theodora Lau is director of enterprise strategy and innovation at AARP. You may contact her for more information at tlau@aarp.org.

Finovate Alumni News

On Finovate.com

  • New report from FinovateFall 2016 sponsor AARP explores the Longevity Economy.

Around the web

  • CR2 launches its next generation ATM software, BankWorld ATM Client 5 and BankWorld Studio.
  • RNC Genter Capital Management picks Asset Manager Connect from Fiserv.
  • CardFlight unveils new set of iOS and Android-compatible, Bluetooth-enabled mobile card-readers.
  • Xero teams up with Macquarie Bank to integrate with electronic billpay system, BPAY.
  • Entersekt forges reseller agreement with Blue Bay Technologies.
  • Zopa partners with Pariti to help millennials manage credit card debt.
  • Russell Investments selects Qumram for compliant, digital recording and retention. See Qumram at FinovateFall in New York.

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.

Rye Bread, Mustard, and Finovate’s Great Grand Slam

Rye Bread, Mustard, and Finovate’s Great Grand Slam

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To steal a line from the late, great Seattle Mariners play-by-play announcer, Dave Niehaus: “Bring out the rye bread and mustard, grandma! It’s Grand Salami time!”

This year, for the first time, FinovateEurope, FinovateSpring, and FinovateFall have all surpassed the “1,500+ tickets sold” milestone. To reach this point—coming at the same time we celebrate our tenth anniversary—is truly something special, and we couldn’t have done it without you. So consider this a sincere “Thank You!” from the bottom of our fintech-loving hearts.

It’s rehearsal day here at FinovateFall 2016. And in the ballroom of the New York Hilton Midtown, presenters for this week’s conference have been checking mics, testing laptops, and practicing opening lines in preparation for our upcoming two-day event. To help you get ready for the show, here are a few last-minutes tips and reminders.

Bizzabo_logo_newBe a part of it—with Bizzabo!

Join the FinovateFall community via our meeting app on Bizzabo. Registered attendees can use Bizzabo to network with presenters, show sponsors and partners, as well as your fellow Finovate attendees. Bizzabo is available for both iOS and Android mobile devices, as well as via an online web interface at Bizzabo.com.

After you’ve downloaded the app, search for “Finovate.” Select “Join” and you’re ready to go. Note that only registered attendees can join the community/networking section of the app.

Twitterlogo_lightblueLe tweet c’est chic

Whether you’re joining us in person or enjoying the conference remotely, our Twitter feed at @Finovate is a great way to follow the action on stage, to say nothing of the often-colorful reactions, analysis, and insights from our educated, fintech-savvy audience. Be sure to mark your tweets #Finovate so our more than 31,000 Twitter followers will be able to readily pick up what you’re putting down.

We hope you’re looking forward to this week’s show as much as we are. The conference begins Thursday morning here at the New York Hilton Midtown at 8:45am (registration is at 8am). If you have any questions about the event, please feel free to email us at fall@finovate.com or check out our FinovateFall 2016 FAQ.

Finovate Alumni News

On Finovate.com

  • Four Fintech Companies Featured in Forbes 100 Most Innovative Public Companies

Around the web

  • Mambu announces plan to double staff to support 10% month-on-month growth.
  • NCR teams up with MX to bring data-driven money-management to FIs. See MX at FinovateFall in New York this week.
  • Expensify opens new office in Melbourne, Australia.
  • Online currency exchange b-Sharpe chooses Mobile Verify from Mitek for identity verification.
  • Leading hedge fund Logica Capital Advisors selects Vera to manage critical business information and internal collaboration files.

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.

FinovateFall: Mapping the Future of Fintech Today

FinovateFall: Mapping the Future of Fintech Today

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Every time we build a Finovate presenter headquarters map, we are reminded of how geographically diverse fintech innovation has become. For all the talent gathered in places such as the Bay Area, New York, and London, our map encourages us to keep in mind less talked-about locales—like Utah, for example, where multiple Best of Show winner MX and Finovate newcomer ProActive are both making personal finance technologies for the 21st century. And it’s not just the Mountain West. Three companies scheduled to demonstrate their latest technologies live on the Finovate stage this week hail from Texas, two from Florida, and five from the Great Lakes region of Wisconsin and Michigan.

Beyond the United States, familiar international fintech powerhouses like Israel and Canada (eight presenters from the Great White North alone!) are sharing space with Nigeria and Cyprus, countries that are relative newcomers to the global fintech scene. And with our return to Asia only a few months away, it will be great to get a preview of fintech innovation from the Far East in the form of South Korea’s eStorm and Japan’s iBank (as well as their neighboring APAC innovators from Australia, Full Profile and identitii).

The lights go up on FinovateFall 2016 Thursday morning, September 8th, and the conference continues on Friday, September 9th, culminating with our Best of Show awards Friday afternoon. If you are still making arrangements to join us in New York next week, know that tickets are still available; our venue at the New York Hilton Midtown is world-class, conveniently located, and easily accessible; and our entire team is busy at work with the final preparations that will make your FinovateFall experience one to remember.

So we hope to see you this week in NYC! In the meanwhile, if you’ve got questions, we’ve got answers. Check out our FAQ or e-mail us at fall@finovate.com and we’ll be happy to help.


FinovateFall 2016 is sponsored by The Bancorp, AARP, Financial Technology Partners, Grant Thornton, Hudson Cook, KPMG, and Leverage PR.

FinovateFall 2016 is partnered with Acuity Market Intelligence, Aite Group, American Bankers Association, BankersHub, Bankless Times, BayPay Forum, Bitcoin Magazine, Breaking Banks, Byte Academy, California Bankers Association, Canadian Trade Commissioner Service, CB Insights, Celent, Coin Telegraph, Crowdfund Beat, Digital Currency Council, Digital.NYC, EbankingNews, FemTechLeaders, Fintech Finance, The Fintech Times, Harrington Starr, Holland Fintech, IDC Financial Insights, Innovate Finance, Javelin, Juniper Research, Korea FinTech Forum, Mapa Research, Mercator Advisory Group, Next Money, NYPAY, Ovum, Payments & Cards Network, The Paypers, PitchBook, Plug and Play, SME Finance Forum, Swiss Finance + Technology Association, and Western Independent Bankers.

Payworks Raises $4.5 Million Series A

Payworks Raises $4.5 Million Series A

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Just a few days after launching its next-generation payment-gateway, Pulse, Payworks announced a $4.5 million Series A. The round was led by HW Capital and Rumford, and featured the participation of “leading U.S. and European payment executives” as well as existing investor, Speedinvest. The funding will help accelerate the Munich, Germany-based company’s continued expansion into Europe and North America.

“We are extremely happy on having closed our Series A with a great group of investors,” said Christian Deger, Payworks CEO and co-founder. “With their support, we will make Pulse available to even more merchants worldwide and establish our position in the market as a leading payment-gateway technology company.”

Nikolaus von Taysen, a partner at Rumford, had high praise for the German SaaS payment-gateway company, and called Payworks “one of the very few companies that has a shot at replacing an old and outdated infrastructure on a global scale.”

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CEO Christian Deger demonstrated the Payworks’ platform at FinvoateEurope 2014.

Payworks gives payment processors an alternative to the costly, inefficient, inflexible, and often poorly secured legacy systems still widely in use to process credit card payments. With Pulse, the company’s lightweight, next-generation, SaaS payment-processing platform, Payworks empowers smaller processors to keep up with the larger processors in the payment business. CEO and co-founder Christian Deger called the solution a “very important milestone for our company,” noting the technology provides fast, API-based, EMV, contactless card, mobile wallet, and chip and payment processing for both fixed and mobile point-of-sale systems.

Headquartered in Munich, Germany, and founded in 2012, Payworks demonstrated its platform at FinovateEurope 2014. Winner of the MPE Award for most innovative payment startup, the company is active in more than 15 countries, and its payment provider clients serve hundreds of thousands of merchants in a number of different industries.

FutureAdvisor Brings RoboAdvisory to U.S. Bank Wealth Management

FutureAdvisor Brings RoboAdvisory to U.S. Bank Wealth Management

FutureAdvisor_homepage_September2016

Since its acquisition by BlackRock a year ago, online investment adviser FutureAdvisor has inked partnerships with BBVA Compass and RBC Wealth Management. Recently, we learned that the San Francisco-based robo-adviser founded by CEO Bo Lu has added another major client to its roster: U.S. Bank Wealth Management.

“Digital advice … will play a larger role as the combination of digital and human advice, packaged appropriately together, continues to improve outcomes for both financial advisers and their clients,” Lu said.

FutureAdvisor is an online investment adviser that automatically reviews and manages investment holdings to optimize asset allocation, limit hidden fees, and improve tax efficiency. The platform provides regular portfolio rebalancing, tax-loss harvesting, and immediate and automatic investment of newly added cash. FutureAdvisor also gives clients access to professional licensed advisers and service specialists to ensure that investors get quick answers to their questions about investing and the FutureAdvisor platform. Clients can use the technology to plan for a variety of financial goals, and is free for those using the platform for retirement and college savings. For investment management, FutureAdvisor charges an annual fee of 0.5% of assets directly managed, with advice on managing 401(k) accounts available for free.

Mark Jordahl, president of wealth management at U.S. Bank, said FutureAdvisor’s technology would complement the work of its investment advisers and give investors greater confidence. “We are thrilled to be launching a new strategic partnership with FutureAdvisor to create an automated investing option that we believe will be highly valued by those who are in the process of growing as investors,” Jordahl said. U.S. Bank will use FutureAdvisor to build a variety of investment portfolios consisting of “cost-effective funds specifically designed to help clients work toward their goals.”

Founded in 2010 and based in San Francisco, California, FutureAdvisor demonstrated its technology at FinovateFall 2013. This summer, the company was featured in a report on automated digital wealth management from Finovate sponsor Financial Technology Partners (FTPartners), and profiled by Business Insider. FutureAdvisor picked up LPL Financial as a client in April, bringing its robo-adviser platform to the company’s 14,000 financial advisers. Prior to the company’s acquisition by BlackRock, FutureAdvisor had raised more than $21 million in funding.

Finovate Alumni News

On Finovate.com

  • Blackhawk Network Acquires Grass Roots for $118 Million
  • FutureAdvisor Brings RoboAdvisory to U.S. Bank Wealth Management

Around the web

  • Avoka reports record levels of orders for fiscal 2016. Join Avoka in New York for FinovateFall 2016 next week.
  • Financeit earns spot on the TechVibes’ Fintech Five.
  • Chain CEO Adam Ludwin warns against “blockchain hype” on Fortune.com.
  • Narrative Science teams up with Franklin Templeton Investments to bring Quill technology to their fund commentary process.
  • SmartyPig switches to Sallie Mae Bank to enable partial withdrawals, direct deposit, and to offer a higher interest rate.

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.

Boku Lands $13.75 Million in Venture Funding

Boku Lands $13.75 Million in Venture Funding

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In a venture round featuring investments from new and existing investors, direct carrier billing and mobile payments leader Boku has raised $13.75 million in additional funding. The financing brings Boku’s total capital to $91 million, and will help fuel the company’s global growth. Participating in the venture round were existing investors Khosla Ventures, Benchmark Capital, NEA, Index Ventures, and DAG Ventures. Additional new and existing investors from the U.K., the U.S., and Asia were also involved.

“Carrier billing is evolving from being a niche product for phone-centric content into a mainstream payment method used by the world’s major brands for all types of digital products,” Boku CEO Jon Prideaux explained. With most customers of carrier billing traditionally coming from developing countries where access to credit and payment cards can be a challenge, Prideaux noted that the company has experienced “explosive growth” in more developed markets, thanks largely to partnerships it has forged with merchants and carriers.

“The world’s biggest tech companies see tremendous potential in the power of the phone as a source of funds,” Prideaux added. He said the combination of improved technology and increased awareness are two trends driving greater adoption of carrier billing as a viable payment option in both emerging and developed markets.

Founded in 2008 and headquartered in San Francisco, California, Boku demonstrated its mobile payment service at FinovateEurope 2011. The company announced a partnership with Google that will make carrier-billing a payment option on Google Play in Lithuania, as well as an agreement that brings direct carrier billing to Windows 10 phones in both the U.K. and Italy. Boku announced that it would power carrier billing for Spotify in Germany and Italy and do the same for Google Play with four new partners in Germany, the Netherlands, and Belgium.

Finovate Alumni News

On Finovate.com

  • Boku Lands $13.75 Million in Venture Funding

Around the web

  • Tradeshift, Taulia, and GoodData earn spots on Battery Ventures/Glassdoor’s “50 Highest Rated Private Cloud Companies to Work For” roster. See GoodData next week at FinovateFall in New York.
  • Sesloc FCU picks Symitar Episys core system from Jack Henry & Associates for in-house processing.
  • Q2 announces redesign of its corporate website.
  • First Annapolis interviews Cardlytics CEO Scott Grimes, co-founder.
  • NCR honored by 2016 Industrial Design Excellence Awards.
  • NuData Security Included in Industry Analyst Reports by Gartner for Fraud Detection
  • Top Image Systems names Brendan Reidy CEO.
  • Worldpay renews Ingenico terminal contract.

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.

Payworks Unveils Next Generation Payment Gateway, Pulse

Payworks Unveils Next Generation Payment Gateway, Pulse

Payworks_Pulse_homepage_August2016

Munich, Germany-based Payworks has launched its next generation payment gateway technology, Pulse. The solution makes it easier for developers to integrate card readers into both stationary and mobile point-of-sale systems, improving and simplifying in-person card payments for consumers.

“The official launch of Pulse is a very important milestone for our company,” Payworks CEO and co-founder Christian Deger said. “Pulse will create fantastic opportunities for our partners and clients, both technically as well as commercially.” The Pulse launch is the culmination of Payworks’ corporate rebranding, including a new logo that “represents the openness and flexibility of the Pulse technology.”

Payworks_stage_FEU2014

CEO Christian Deger and Head of Sales Michael Englmaier demonstrated the payworks platform at FinovateEurope 2014 in London.

Pulse-powered payment technologies will enable customers to take advantage of a wide variety of payment technologies including EMV chip & PIN cards, contactless cards, and mobile wallets. The cloud-based payment-processing platform comes pre-certified for both developers and merchants, and scales well for both large and small businesses. In addition to Pulse, Payworks is offering its white-labeled mPOS solution, Accept, geared specifically for payment providers looking for an acceptance solution for SMEs, and Engage, an analytics and customer engagement platform.

Founded in 2012 and headquartered in Munich, Germany, Payworks demonstrated its platform at FinovateEurope 2014. The company includes Speedinvest and Barikuta Partners among its investors, and has offices in the U.K., the U.S., and Spain. Payworks has partnered with some of the world’s largest payment processors including Barclaycard, Stripe, and Elavon. Earlier this month, Payworks announced a partnership with U.S. ticketing systems specialist, VBO Tickets. In July, the company teamed up with Swedish POS specialist, AffärsIT to bring Windows-based point-of sale technology to 5,000 merchants in Scandinavia, just one month after Payworks extended its Stripe POS integration.