Author: David Penn

MoneyHub Demonstrates its PFM Ecosystem

By David Penn Posted on
Categories: FinovateEurope 2015, Moneyhub

MoneyHub_logo_high-res.jpgThis post is part of our live coverage of FinovateEurope 2015.

MoneyHub is up next, offering a personal finance management solution that puts users in the center of their financial universe.

The MoneyHub ecosystem is a place where users can aggregate their own data and information, access financial advice, and connect with financial institutions and other services.

The MoneyHub ecosystem puts the user at the center of their financial universe, helping them make better choices for their financial future and manage their relationships with financial institutions more effectively.

Presenters: CEO Toby Hughes and CTO Dave Tonge
 
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Product launch: Q2 2015
Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B), through financial institutions, through other fintech companies and platforms; licensed
HQ: Bristol, United Kingdom
Metrics: MoneyHub is a Bristol-based company in a phase of rapid growth. We currently have 40 employees and will be expanding further throughout 2015. MoneyHug currently tracks more than £3 billion (pounds) in consumer assets daily.
Twitter: @moneyhubapp

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SOFORT Demonstrates its Banking Paycode to Ensure Secure Transactions

By David Penn Posted on
Categories: FinovateEurope 2015, SOFORT

SOFORT_logo_high-res.jpgThis post is part of our live coverage of FinovateEurope 2015.

A part of the Klarna Group, SOFORT offers innovative products to ensure secure transactions online.
SOFORT Banking Paycode is an online link to the SOFORT payment form, which already contains all relevant information for the transfer. By using the link, the digital transfer form is automatically filled in and ready for the transfer. You’ll find the paycode on your invoice, which you receive from the merchant via email, mail or SMS. The paycode can be entered either via the website of the merchant or at sofort.com. Alternatively, you can use the code link that leads you directly to our encrypted SOFORT Banking payment form. The transfer can then be carried out easily via SOFORT Banking.
Presenters: Christian Mangold, managing director, sales; Marc-Andre Bewernik, senior manager, products; and Fridolin von Schönau, senior manager, products
 
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Product launch: May 2013
Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B), through financial institutions, through other fintech companies and platforms
HQ: Gauting, Germany
Metrics:
  • Turnover 2014: approx. 25 million euro (increase in sales as compared to 2013: more than 30% across Europe)
  • External revenue with SOFORT Banking 2014: approx. 3.3 billion euro
  • Employees: 170 in 2014; 150, 2013
  • On average, 3,000 consumers use SOFORT Banking at least once
  • More than 18 million users have already used SOFORT Banking at least once
  • More than 100 million transactions since the company was founded
  • More than30,000 e-commerce shops use SOFORT Banking
Website: sofort.com
Twitter: @SOFORTAG

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InvoiceSharing Launches its White Label, Electronic Invoice Distribution Platform for Banks

By David Penn Posted on
Categories: FinovateEurope 2015, InvoiceSharing

InvoiceSharing_logo_high-res.jpgThis post is part of our live coverage of FinovateEurope 2015.

InvoiceSharing is up next, demonstrating its free electronic invoice distribution platform for banks.
We learned that banks need a white-label version of the InvoiceSharing platform for five reasons:
  • Reduce cost of capital (cost of unused lines of credit)
  • Bring added value to clients and upsell more
  • Distribute cash to companies in a new way
  • Split transactions and services provided to customers
  • Prove that banks do not over-credit companies
We are launching the first white-label version for banks to capture all the data they need to achieve these goals. Capturing all data from incoming and outgoing invoices and combining it with payment data and data from the company’s clients systems allows banks to lend more money with less risk at lower costs.
Presenter: CEO Jeroen Volk; VP of Business Development Stephen van Stek
 
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Product launch: February 2014
Product distribution strategy: Through financial institutions, through other fintech companies and platforms, licensed
HQ: Rotterdam, The Netherlands
Metrics: €2 million raised; growing 15% month on month with invoice volume in euros; 10 employees; deal with first bank for white label
Twitter: @invoicesharing

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CoinJar Leverages BlockChain Technology to Provide a Wide Range of Digital Payment Options

By David Penn Posted on
Categories: CoinJar, FinovateEurope 2015

Thumbnail image for CoinJarLogo.jpgThis post is part of our live coverage of FinovateEurope 2015.

CoinJar is the eminent digital finance platform in the Australian market. The company’s co-founders are making their way to the stage.

CoinJar lets users buy, sell, send, receive, and spend digital and traditional forms of currency using the blockchain technology that underlies bitcoin. With a simple user interface designed for the average consumer, CoinJar bridges legacy payment systems and new digital platforms. It opens the potential for bitcoin to become the future of global remittance payments, automated escrow, smart contracts, digitized asset ledgers, and secured and signed user cryptography.

CoinJar also has an open API, allowing developers to innovate on top of the CoinJar platform to adopt the best of blockchain technology for uses other than currency.

Presenters: Co-founders Asher Tan and Ryan Zhou
 
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Product launch: December 2014
Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B)
HQ: London, United Kingdom
Metrics: AU$450,000 raised in venture capital and angel investment; more than 40,000 users; more than $50 million in exchange transactions in Australia; 285,000 BTC sent between CoinJars worth $150 million; 13 employees
Website: coinjar.com
Twitter: @GetCoinJar

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iSignthis Presents its Cloud-Based Identification and Transaction Authentication Technology for PSPs

By David Penn Posted on
Categories: iSignthis

iSignthis_logo_high-res.jpgThis post is part of our live coverage of FinovateEurope 2015.

Our next presenter is iSignthis, with its cloud-based identity and transaction-authentication solution for payment service providers.

A global, highly scalable, and fully remote combined evidence of identity and transaction authentication system to assist clients with meeting (i) Know Your Customer (KYC) for AML/CTF requirements and (ii) strong customer/payment authentication. The service generates evidence of identity on a dynamic basis, linking transaction parameters to the payment instrument and multifactor authentication. The service also assists PSPs with meeting the European Banking Authority’s SecuRE Pay and its strong customer authentication requirements, and the EC’s PSD2.

The service further provides operational benefits for any online business seeking to reduce customer onboarding friction, mitigate CNP fraud, and/or streamline operations.

Presenters: Managing Director John Karantzis; Commercial Director Marc Bongers
 
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Product launch: February 2015
Product distribution strategy: Direct to Business (B2B), through financial institutions, through other fintech companies and platform, licensed
HQ: Melbourne, Victoria, Australia
Metrics: $1 million USD raised to date; less than 15 employees; listing on ASX in January 2015
Website: isignthis.com
Twitter: @iSignthis_Ltd

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Topicus.Finance Presents its Force Business Lending Solution

By David Penn Posted on
Categories: FinovateEurope 2015, Topicus

Topicus_logo_high-res.jpgThis post is part of our live coverage of FinovateEurope 2015.

A provider of innovative, pay-as-you-go, cloud-based banking software, Topicus.Finance is next with its Force Business Lending solution.
The Force Financial Business Process Management (FBPM) solution is not a generic BPM platform, but one that knows about financial products, their structures, pricing, and provisions. It was developed with today’s challenges in mind and has its high-end financials analysis, rating, and pricing applications tightly integrated.
Presenters: Managing Director Michael Schipper, and Head of Business Lending Jamie Burink
 
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Product launch: 2013
Product distribution strategy: Direct to Business (B2B) through financial institutions, licensed
HQ: Deventer, Netherlands
Metrics: At the end of 2014, Topicus.Finance has an estimated turnover of 20 million euros and 220 employees. The entire Topicus group has an estimated turnover of 48 million euros and 525 employees at the end of 2014. Topicus is wholly owned and financed by its founders and current board members.
Twitter: @Topicus.Finance

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IDmission Introduces INFORM, an Enterprise-level Forms Builder

By David Penn Posted on
Categories: FinovateEurope 2015, IDmission

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This post is part of our live coverage of FinovateEurope 2015.
IDmission is presenting its cloud-based solution for identity-initiated customer onboarding and engagement.
INFORM is a fully configurable Enterprise forms product that enables building of sophisticated user experiences without any programming. You can build your own forms with KYC, document management, image processing, biometrics, online calls, workflows, and payments integrated into them. INFORM is integrally connected to Ada, our cloud platform infrastructure, enabling reuse of all Ada’s software components and connectivity to third-party systems.
Presenters: CEO and Pres. Ashim Banerjee; VP Product Dev. Angie Schmuck
 
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Product launch: March 2014
Product distribution strategy: Direct to Business (B2B) through financial institutions, through global partners
HQ: Louisville, Colorado, U.S.A.
Metrics: 75 employees in the United States and India
Website: idmission.com

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Xsolla Presents its Customizable, White-Label Billing Platform for FIs

By David Penn Posted on
Categories: FinovateEurope 2015, Xsolla

Xsolla_logo_high-res.jpgThis post is part of our live coverage of FinovateEurope 2015.

Xsolla , the company behind one of the most advanced billing platforms for online gaming, has brought its technology to the world of e-commerce payments.
Game developers are a technologically advanced and very demanding customer. High expectations of gaming companies encouraged Xsolla to create the most advanced payment system on the e-commerce market.
With extensive relationships with payment providers like PayPal and Amazon, and services for AAA game companies like Valve, Nexon, Crytek, and Changyou, Xsolla is demoing its white-label, customizable billing-platform for banks.
Presenters: Aiman Seksembaeva, director, business development; Alexander Menshikov, integration manager
 
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Product launch: February, at FinovateEurope
Product distribution strategy: Direct to Business (B2C)
HQ: Sherman Oaks, California
Metrics: Xsolla was founded in 2006; today it employs 170 people. Xsolla has offices in U.S.A., Brazil, Russia, Ukraine, Korea, and a number of financial centers.
Website: xsolla.com

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Telenor banka Powered by Asseco SEE Presents its Automated Online Handset Loan

By David Penn Posted on
Categories: Asseco, FinovateEurope 2015, Telenor banka

Telenor_Asseco_logo_high-res.jpgThis post is part of our live coverage of FinovateEurope 2015.

Finishing up the first session of the day is Telenor banka, which has teamed up with Asseco South Eastern Europe (SEE) to offer their Automated Online Handset Loan.
Telenor banka is the first fully mobile online bank in the SEE region, showcasing a mobile-device loan-offering based on Telco and banking’s big-data analytics. The right offer, at the right time, at the right place: for each customer, it is hassle-free and only a couple of clicks away. The automated process is achieved with the help of Asseco SEE’s ASEBA Multi-channel Hub.
Presenters: Telenor banka’s Chairman, Executive Committee, Martin Navratil; Piotr Jelenski, group president of the management board, Asseco SEE; and Telenor banka’s Marketing Director Mario Carevic
 
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Product launch: Q3/Q4 2015
Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B), through financial institutions
HQ: Telenor banka is based in Belgrade, Serbia; Asseco SEE, Warsaw, Poland
Metrics: Telenor banka has 130 employees, is part of Telenor Group with 179 million users, is present in 13 markets. Asseco SEE has 1,400 employees, is present in 13 countries and is listed on WSE.
Twitter: @Telenorbanka and @Asseco_See

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Pay2You from Delta Bank Empowers Payments to Anyone in Your Address Book

By David Penn Posted on
Categories: Delta Bank, FinovateEurope 2015

DeltaBank_logo_high-res.jpgThis post is part of our live coverage of FinovateEurope 2015.

Our next presenter is Delta Bank, a Ukranian universal bank demoing its P2P payment solution.
Pay2You is a service for sending money to any contact from your address book. It is very simple: You choose the recipient of payment from your phone book, input your card details and the sum, then push “send money” and the recipient receives the SMS with the transfer-security code.
Then the recipient just enters any of their card numbers, along with the security code, and the money instantly proceeds to their account. The process of sending a transfer takes no longer than 10 seconds.
The service can be enjoyed on the website, mobile app, or directly from Facebook.
Presenters: Head of R & D Dept., Stanislav Ostrovskyi; Head of Innovation Dept., Denis Vorobiov
 
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Product launch: September 2014
Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B)
HQ: Kyiv, Ukraine
Metrics: Fourth largest Ukranian bank; $4 billion USD in assets; 6,000 employees; 5 million clients

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Five Degrees Launches Mid-Office Services Suite, Matrix Universe

By David Penn Posted on
Categories: FinovateEurope 2015, Five Degrees

FiveDegrees_logo_high-res.jpgThis post is part of our live coverage of FinovateEurope 2015.

Next up is Five Degrees, the developer of Matrix, a core BP engine and banking solution.
The world of services is here. Connecting with other parties, including non financial, is key to a modern bank’s success. That is why Five Degrees is introducing Matrix Universe, a set of extensions on our Mid-Office Services Suite that enables banks to fully manage their partnership ecosystem. For retail and SMEs, transactions and loyalty, infrastructure and data analytics, apps and services can be added. Built around our visual BPM engine means no coding is required.
Presenters: Chief Commercial Officer Brian van Wachem; CTO Björn Holmthorsson
 
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Product launch: February 2015
Product distribution strategy: Direct to Business (B2B), through financial institutions, through other fintech companies and platforms, licensed
HQ: Breukelen, Netherlands
Twitter: @fivedegrees

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Encap Security’s Integration of Touch ID Helps Authenticate High-value Financial Transactions

By David Penn Posted on
Categories: Encap, FinovateEurope 2015

EncapSecurity_logo_high-res.jpgThis post is part of our live coverage of FinovateEurope 2015.

The team from Encap Security is making its way to the stage. Encap develops technology that enables mobile authentication for financial service providers.
Encap Security is the first authentication company in the world to integrate Apple Touch ID. Encap is demonstrating how financial institutions can use Touch ID to provide access to authenticate high-value financial services transactions. Touch ID integration showcases how Encap technology can detect and use device capabilities to layer on new authentication factors as they come to market. Financial institutions can then take advantage of these factors as they see fit, to ensure they are delivering the highest level of usability and security.
Presenters: CEO Thomas Bostrøm Jørgensen; Sales Director, Europe, John Burman
 
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Product launch: June 2014
Product distribution strategy: Direct to Business (B2B), through financial institutions, through other fintech companies and platforms
HQ: Oslo, Norway
Metrics: With locations in Oslo, and Palo Alto, California, Encap Security’s management team has an unrivaled stature in authentication and mobile financial services. CEO Thomas Bostrom Jorgensen and the Encap Security executive team of 15 employees together combine more than 60 years of experience across mobile financial services, identity management and mobile-app security. The total investment made in Encap Security is 4.8 million euros.
Twitter: @encapsecurity

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