Finovate Alumni News

On Finovate.com

  • FinovateSpring 2015 Best of Show Winners Announced

Around the web

  • Xendpay extends its money-transfer service to Nepal.
  • Moven and Accenture partner to create digital banking solutions.
  • Xsolla launches strategic partnership with Secure Trading Financial Services.
  • Euro Pacific Bank to deploy T24 cloud banking solution from Temenos.

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.

FinovateSpring 2015 Best of Show Winners Announced

FinovateSpring 2015 Best of Show Winners Announced

FS2015_Best_of-Show_Trophies

Going into this year’s tally of FinovateSpring 2015 ballots, it was anybody’s guess which companies had won the hearts and minds of our attendees and would take home one of our coveted Best of Show awards.

But after two days of great demonstrations of the latest in fintech innovation from companies near and far, the votes are in, and we want to be among the first to congratulate those startups and industry veterans whose technologies wowed our record-setting crowd at the City National Civic in San Jose, Calif., this week.

Congratulations to the Best of Show winners for FinovateSpring 2015, listed in alphabetical order:

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

 

Avoka_logo_VectAvoka, for Avoka Transact for Financial Services, which combines social, cloud services, and crowdsourcing into the world’s fastest credit card application.

 

 

FS2015_MoneyAmigo_logoMoney Amigo, for its technology that brings financial services to the underbanked and underserved, delivering traditional banking products in an innovative way.

 

MovenMoven, for its Moven Financial Health Platform, providing real-time contextualized notifications and interactions that create “gamified money moments.”

 

FS15_NAMU_logoNAMU Systems, for its “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 logo copyShoeboxed, for its Receipt Capture for Banks solution, which boosts the functionality of online and mobile banking apps while providing fraud protection.

 

STRATOS_ID_10.07.14Stratos, for its dynamic Stratos Bluetooth Connected Card and Digital Card Issuance Platform that analyzes card-usage trends and interactively engages card members.

We hope you enjoyed the show! As always, thanks to everyone who attended and participated in FinovateSpring 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 seven companies appearing on the highest percentage of submitted ballots were named “Best of Show.”
5. Go here for a list of previous Best of Show winners.

NAMU Brings Intelligent Behavior Modeling to Mobile Banking

NAMU Brings Intelligent Behavior Modeling to Mobile Banking

This post is part of our live coverage of FinovateSpring 2015.

Namu logoNAMU is on stage now. The company’s “social spending behavior algorithm” helps FI’s better engage their customers.

NAMU delivers a new standard in mobile banking by implementing new and intelligent behavior modeling, which focuses on customer behavior and digital experiences. All of this is based on a patent-pending “social spending behavior algorithm.” The product highlights include: highly visual user experience, Google-like search through the customer’s entire transaction history and across all banking products, new data organization, contextual, personal, and relevant permission-based advertising of targeted offers, promotion, and loyalty services to consumers as well as a virtual personal branch. For each bank, NAMU connects easily to many complex banking systems with a centralized API and data-centric architecture.

Presenters: Thomas Ko, co-founder and president, and Piotr Budzinski, co-founder and CEO

IMG_9590

IMG_9594

Product Launch: November 2014

Metrics: Early start-up phase, raised $200,00 from two angel investors; 10 employees
Product distribution strategy: Direct to Business (B2B), through other fintech companies and platforms

HQ: Mahwah, New Jersey
Founded: February 2014
Website: namuapp.com
Twitter: @namuapp

ACH-based Payments Innovator Knox Payments Presents Knox Asssured and Knox Verified

ACH-based Payments Innovator Knox Payments Presents Knox Asssured and Knox Verified

This post is part of our live coverage of FinovateSpring 2015.

KNOX symbolKnox Payments, an ACH-based payments company, is introducing two new innovations: Knox Assured and Knox Verified.

Knox Payments is a payments and security service that allows merchants to conduct ACH payments. These are transactions wherein customers can pay directly to merchants using their bank accounts. What differentiates the service from its competitors is its primary focus on speed. In addition, Knox Payments does not offer user accounts, and simply functions as a tool for fast online checkouts.

Presenters: Thomas Eide, CEO and founder, and Julius Gartner, director of business development

IMG_9581

IMG_9582

Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B), through financial institutions, through other fintech companies and platforms

HQ: San Francisco, California
Website: knoxpayments.com
Twitter: @KnoxPayments

Persistent Systems Previews its Online Payment Technology, Buddy Pay

Persistent Systems Previews its Online Payment Technology, Buddy Pay

This post is part of our live coverage of FinovateSpring 2015.

FS15_Persistent_logoPersistent Systems demoes its payments innovation, BuddyPay.

BuddyPay is essentially a switching mechanism for Payment made for purchases of goods and services from an online site. It’s a mechanism that allows another person/entity (payer) to pay for goods and services purchased by someone else (buyer). The payment is done on the online site (seller) in real time. The name was coined BuddyPay as it involves two persons, buyer and payer (father/son, two friends, etc.) who are very well know to each other, i.e. “buddies.”

Presenters: Shriram Natarajan, VP technology consulting, and Ray Bharadwaj, global head of financial services

IMG_9550

IMG_9560

Product Launch: June 2015

Metrics: One of the top-ten companies for investor relations in India, Thomson Reuters Extel Survey Awards; 8,500+ employees; 23% revenue CAGR for the last 5 years; geographies: United States, Canada, Europe, Asia Pacific, Australia
Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B), through financial institutions, through other fintech companies and platforms, licensed

HQ: Pune, MH, India
Founded: May 1990
Website: persistent.com
Twitter: @Persistentsys

Malauzai Software Brings its Mobile-only Virtual Banking Experience to Community FIs

Malauzai Software Brings its Mobile-only Virtual Banking Experience to Community FIs

This post is part of our live coverage of FinovateSpring 2015.

Malauzai logoMalauzai Software is here with its mobile-only virtual banking experience.

Malauzai has developed a mobile-only, virtual banking experience that makes banking fun, effortless, and completely branchless. With advanced features such as person-to-person payments, mobile account registration, picture bill pay, debit card on/off, and remote capture, end-users are able to leverage technology to bank anytime, anywhere, on any device.

Presenters: Robb Gaynor, CPO and co-founder, and Danny Piangerelli, CTO and co-founder

IMG_9532

IMG_9542

Product Launch: December 2014

Metrics: 280 live plus 330 signed customers, serving 500,000+ end users; more than 5 million logins a month; 60+ employees
Product distribution strategy: Direct to Business (B2B), through financial institutions, through other fintech companies and platforms, licensed

HQ: Austin, Texas
Founded: October 2009
Website: malauzai.com
Twitter: @malauzaimonkeys

Corezoid Presents its Cloud Operating System for Building and Changing Business Processes

Corezoid Presents its Cloud Operating System for Building and Changing Business Processes

This post is part of our live coverage of FinovateSpring 2015.

COREZOID logo copyCorezoid is making its way to the stage now. The company is demonstrating its cloud-based platform to help FIs build better business processes.

Two classes of problems exist in software development:

  • Customer problems: it’s too long, it’s too expensive, lack of flexibility, high cost of updates, dependence on the developer, succession/inheritance
  • Developer problems: modern programming paradigm means programming with implicit selection of statuses resulting in a lot of inherent technical problems, it’s too long, succession/inheritance

Corezoid solves these problems by switching from writing the code to building the algorithm.

Presenters: Sergey Danylenko, chief marketing officer at Corezoid, and Antony Rogalskiy, chief marketing officer, PrivatBank

IMG_9519

IMG_9529

Product Launch: November 2013

Metrics: $1 million raised; 5,398 enterprises; 27, 193 conveyors; 21,223,940,118 operations
Product distribution strategy: direct to business (B2B), through financial institutions

HQ: Wilmington, Delaware
Founded: November 2013

PsychSignal Delivers Real-time Stock Market Opinion from Social Media Sources

PsychSignal Delivers Real-time Stock Market Opinion from Social Media Sources

This post is part of our live coverage of FinovateSpring 2015.

PsychSignal-logo-20140409PsychSignal demonstrated its “natural language processing engine API” that provides investors with insights from a variety of social sources.

The Company’s Natural Language Processing Engine API delivers the public’s real-time opinions about stocks and other financial securities by categorizing and quantifying the millions of tweets and messages issued by Twitter, StockTwits, T3Live chat rooms, and other social media sources.

Presenters: CEO James Crane-Baker and CMO Bjorn Simundson

IMG_9506

IMG_9510

Product Launch: May 13, 2015

Product distribution strategy: direct to business (B2B), through financial institutions, through other fintech companies and platforms, licenesed.

HQ: Miami, Florida
Website: psychsignal.com
Twitter: @psychsignal

Mistral Mobile Launches m-Aegis Mobile Integrity, a Comprehensive Multi-Factor Authentication Solution

Mistral Mobile Launches m-Aegis Mobile Integrity, a Comprehensive Multi-Factor Authentication Solution

This post is part of our live coverage of FinovateSpring 2015.

mistral mobile logoMistral Mobile is demonstrating its multifactor authentication platform, m-Aegis.

m-Aegis is the only comprehensive, multifactor, telco-independent, authentication and security solution for mobile applications and OTP replacement. Mobile banking and payments are exploding: Juniper Research predicts there will be more than one billion mobile banking users worldwide by 2017. Simultaneously, the roadblocks to mobile payments are disappearing with solutions such as host-card emulation and secure-elements, clearing the way for sustained dramatic growth. However, with opportunity comes risks. With increased volumes, mobile-initiated transactions become lucrative targets for hacking and fraud. According to a study by RiskIQ, more than 11% of all Android banking applications are suspicious and potentially contain malware. Mistral Mobile’s m-Aegis Mobile Integrity provides a comprehensive solution combining multiple factors such as device fingerprinting, SIM validation and usage data to maximize the integrity and create a high-confidence, no-gap verification model without compromising user experience.

Presenters: CEO Ludwig Schulze and Paul Yoo, chief commercial officer

IMG_9491

IMG_9494

Product Launch: February 2015

Metrics: 15+ employees
Product distribution strategy: direct to business (B2B), through financial institutions, through other fintech companies and platforms, licensed

HQ: Oulu, Finland and New York City, New York
Founded: June 2012
Website: mistralmobile.com
Twitter: @MistralMobile

Bento’s Platform Helps Small Businesses Better Manage and Control Expenses

Bento’s Platform Helps Small Businesses Better Manage and Control Expenses

This post is part of our live coverage of FinovateSpring 2015.

Bento_logo_box_snaggit_resizeBento‘s platform enables small businesses to take control of their expenses.

Bento’s first offering, the Bento MasterCard, is a prepaid commercial card solution built just for small businesses. Business owners can set rules by employee, amount, time and category before anyone can spend a dime. Bento cards bear the employee’s name and can be enabled and disabled in a second with just one click. Real-time dashboards enable business owners to see everything in one place and quickly track expenses by place, employee, project, category and more. Bento makes spend management and bookkeeping painless.

Presenters: Farhan Ahmad, CEO and founder, and Sean Anderson, chief product officer and founder

IMG_9478

IMG_9483

Product Launch: March 2015

Metrics: Raised a seed round of $2.5 million from VCs and private investors; 8 employees and growing
Product distribution strategy: direct to business (B2B), through financial institutions, through other fintech companies and platforms, licensed

HQ: San Francisco, California
Founded: January 2014
Website: bentoforbusiness.com
Twitter: @bentoforbiz

RAGE Frameworks Presents LiveCredit, Enabling FIs to Build Their Own Innovations

RAGE Frameworks Presents LiveCredit, Enabling FIs to Build Their Own Innovations

This post is part of our live coverage of FinovateSpring 2015.

artwork_rage_logo_its_possibleRAGE Frameworks‘ LiveCredit solution enables FIs to build a variety of financing products.

RAGE LiveCredit is a flexible, scalable origination and servicing solution that can enable the design and launch of any financing product end-to-end from ordination and underwriting, to booking and servicing. LiveCredit is designed to enable a financial institution to implement its creative ideas and needs in terms of new products, new underwriting rules including dynamic pricing, compliance rules, and accounting, in near real-time fashion. LiveCredit enables this configurability through a dynamic and flexible Product Configurator, which rapidly facilitates the configuration of the entire lifecycle related to a product without any need for programming.

Presenters: Aashish Mehta, SVP, banking solutions, and Nick Adams, VP, banking solutions

IMG_9463

IMG_9469

Product distribution strategy: Direct to Business (B2B), through financial institutions

HQ: Dedham, Massachusetts
Founded: 2007
Website: rageframeworks.com

Alpha Payments Cloud Presents AlphaHub, its Omnichannel Solution Access Platform

Alpha Payments Cloud Presents AlphaHub, its Omnichannel Solution Access Platform

This post is part of our live coverage of FinovateSpring 2015.

AlphaPaymentsCloudLogoAlpha Payments Cloud is demonstrating its omnichannel solution access platform, AlphaHub.

Through the AlphaHub, connected banks, merchants, MSPs and ISOs gain access to any solution provider in the world. The AlphaHub is an omnichannel solution access platform that enables merchants to connect to service providers in a simple and scalable way, through a single integration. The depth and range of connected service providers and solutions span across the entire transactional, risk management and commerce solution spectrum, with more than a hundred third-party solutions and a suite of white-labeled products currently available. Additionally, the AlphaHub proprietary orchestration engine enables users to customize down to the individual transaction layer, leveraging each solution’s unique functionality and benefits.

AlphaPaymentsCloud CEO, Oliver Rajic, standing

IMG_9437

IMG_9444

Product Launch: November 2014

Metrics: Series A funding: $12M
Product distribution strategy: Direct to Business (B2B), through financial institutions, through other fintech companies and platforms

HQ: Singapore
Founded: June 2012
Website: alphapaymentscloud.com
Twitter: @AlphaPayments