FinovateAsia 2013 Sneak Peek: Part 1

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On November 14, Finovate will return to Singapore for FinovateAsia 2013. 37 companies will demo live on stage. This initial installment of our Sneak Peek series is your first opportunity to get to know a little more about this year’s presenters. We’ll cover the remaining companies during the next two weeks. 

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Advanced Merchant Payments enables banks and other institutional lenders to profitably offer short-term, unsecured loans to small businesses based upon electronic cash flow and other data points.
Features:
  • Creates new product set and revenue stream with minimal investment
  • Establishes MSME leadership position via low risk product
  • Supports core merchant strategy regarding customer loyalty
Why it’s great:
  • Innovative, proven solution enabling banks to lend to their existing small business customers on a profitable and efficient basis.

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Thomas De Luca
Managing Director and Co-Founder
Previously co-founded multi-currency payment processor Planet Payment, Inc. Before that, Legal Affairs at American Express.

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James Phillip Lloyd
Director of Product Management
Previously Operations Delivery Manager for European online payment gateway Realex Payments. Before that, Strategy & Operations at Deloitte Consulting.
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GMC Software Technology has developed an innovative tablet application, enabling a totally paperless client on-boarding process for retail banks.
Features:
  • Reduces costs from paper wastage
  • Reduce time spent on application
  • Increase revenues
Why it’s great:
  • Why it is critical to a banks reduce costs and increase revenues capturing clients’ attention at point of sales

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Antoine Hemon-Laurens
Mobile Strategy Consultant, PMM
Antoine has 20 years of experience in developing B2B and B2C mobile solutions.
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Mistral Mobile provides mobile solutions for the unique needs of financial services
Features:
  • Mobilize all types of users from customers to agents to retailers
  • Roll out any changes extremely fast
  • Lower your operating costs
Why it’s great:
  • Beat your competition to market with Money Mobility Suite

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Peter Ollikainen
Senior Vice President
Peter has experience in retail, marketing and business development in emerging markets and the Asia-Pacific region. Prior to Mistral Mobile, Peter worked as part of Nokia’s Mobile Financial Services unit.
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Smart Engine provides unique, customer intimacy, real-time analytics that enable banks to deliver across all channels, pinpoint targeted merchant offers driving card use and merchant sales.
Features:
  • Combining transaction- and online-based customer profiles
  • Cross-channel customer delivery – right offer, right place and time
  • Increasing card usage and customer loyalty
Why it’s great:
  • Creating value by understanding and serving your customers better, over multiple channels and platforms – that’s what Smart Engine’s cutting-edge solutions can deliver.

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Christian Bacher 
Managing Partner
Christian spent more than 20 years working at different top management levels in IT solutions for the banking and payment industry in Europe and Russia.

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Anna Bacher
Director of Technology and Innovation
Anna has 15 years
of international experience in designing and implementating complex IT solutions for the banking and payment industry in Europe and Russia.
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TIBCO Software enables 4,000+ customers worldwide to manage information, decisions processes and applications in real time – on-premise or as part of cloud computing environments.
Features:
  • Enable ad-hoc anonymous micro-payments
  • Manage the customer lifecycle from acquisition through purchase to follow up (anonymously)
  • An integrated platform with  App store for users
Why it’s great:
  • Lightweight Ad-hoc Contextual Payments

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Phil Scanlon
Director of Client Solutions in Asia
Phil is responsible for the development and management of the Asia pre-sales organization, aligning TIBCO solutions with customers.

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San Zaw
Director, Solution Consultant for South East Asia
Sam’s strength is in evangelizing, articulating, and selling next-gen business solutions and value propositions to CxOs.
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For more information on attending our upcoming event in Singapore, see our FinovateAsia 2013 page here.

Finovate Alumni News– October 14, 2013

  • Thumbnail image for Finovate-F-Logo.jpgForbes column on banking and mobile payments highlights Finovate alumni Check, Fiserv, and FIS.
  • BBC features MasterCard’s efforts to replace food stamps and cash with cards in Lebanese refugee camps.
  • Jim Marous references GoBank and Moven in report on innovation in mobile banking functionality.
  • LowCards.com reports: Dynamics offers artistic credit cards.
  • Flint Mobile opts for camera over card reader.
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 11, 2013

  • Thumbnail image for Finovate-F-Logo.jpgTechnology Banker takes a look at Arroweye Solution’s EMV On-Demand solution.
  • CurrencyFair shows off its new mobile phone look. Read more about CurrencyFair in yesterday’s FinovateAsia feature.
  • Arxan Technologies announces new tamper-proof jailbreak detection security & environmental sensing technology.
  • Spindle uses ValidSoft to authenticate mobile payments by voice.
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.

Back to the Future with FinovateAsia 2012’s Best of Show Winners

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With a new round of fintech innovators less than a month away from taking the Finovate stage in Singapore, it’s a great time to review last year’s breakout performers.

Who were the winners (as determined by audience vote)? What did they present? And most importantly, what have they been up to in the weeks and months since?

To answer those questions and more, here’s a look at what’s new and notable from the Best of Show winners of FinovateAsia 2012.

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Who They Are: Specialists in peer-to-peer international money transfers, CurrencyFair presented an upgrade to the user interface for their MarketPlace screens.
Why They Won: Sending money abroad is fraught with cost and complication. CurrencyFair’s MarketPlace solution creates an online, person-to-person environment in which individuals can negotiate their own exchange rates with each other.
What They’ve Been Up To: 
  • Won” “Most Insightful & Intriguing Internet Innovation” award 
  • Reached $500 million in transactions
  • Presented their iPhone app at FinovateEurope
  • Listed among top “Middleweight Startups” at The Europas 2013
  • Won Best Irish Startup Award from The Next Web
  • Named Startup of the Day by The Daily Business Post
  • Won “Best of Show” at FinovateAsia 2012
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Who They Are: Finantix provides solutions to help banks, wealth managers, and advisors provide more and better advice and insight for their retail and high net worth clients
Why They Won: In presenting their Sharp digital banking platform, Finantix introduced a tool to change the way banks interact with their customers by introducing gamification, social and multimedia content, and natural language communication.
What They’ve Been Up To:

  • Partnered with VoiceTrust to bring voice biometrics to Finantix Banking Assistant
  • Launched Banking Assistant mobile app at FinovateEurope 2013
  • Won “Best of Show” at FinovateAsia 2012
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Who They Are: SocietyOne is the first fully-compliant peer-to-peer online lending platform in Australia.
Why They Won: With ClearMatch, SocietyOne effectively leveraged proven banking technologies into new applications in the peer-to-peer consumer lending business.
What They’ve Been Up To:

  • Reached $1 million in personal loans originated mark
  • Earned spot on Mozo’s VIP (Very Innovative Product) list for 2013
  • Won “Best of Show” at FinovateAsia 2012.
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Who They Are: Ubank is a division of NAB, the National Bank of Australia. Ubank operates as a branchless, Internet-only bank.
Why They Won: The introduction of Ubank’s People Like U solution reflects a growing trend in banks adding PFM and financial management tools for their customers. The solution takes an econographic approach to helping consumers understand their own spending patterns  in the context of their peers.
What They’ve Been Up To:
  • Won 2013 Webby award in Financial Services/Banking category
  • Won six Best of the Best 2013 awards from Money Magazine Australia
  • Won “Best of Show” at FinovateAsia 2012
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For more information about FinovateAsia 2013, returning to Singapore next month, visit our FinovateAsia 2013 page here.

First Data Launches Clover Station Cloud-Based POS Solution for SMEs

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Consider Clover’s relationship with First Data consummated.

As reported in TechCrunch, Gigaom and elsewhere, First Data quietly acquired the ecommerce checkout specialist and FinovateSpring 2012 alum last year.  And yesterday at Money 2020, First Data CEO Frank Bisignano announced the launch of their Clover-inspired solution for small businesses: Clover Station.

Clover Station is a cloud-based, point-of-sale and business management solution. What makes the solution special is that it provides the full point of sale terminal functionality of traditional POS units (the ability to track employees and inventory, for example). But at the same time, the merchants will be able to customize the technology by either downloading task-specific apps, or developing apps of their own through Clover’s API.

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Additional features include:
  • Real-time business analytics and intelligence reports
  • Remote access at any time from any location
  • High-resolution camera for instant QR code recognition
  • High-definition touch screen
Enhancements and peripherals such as a modern cash drawer and a bar scanner can be added. Clover Station will be available to Bank of America Merchant Services small business customers by the end of the year.
Founded in October 2010, Clover is based in Mountain View, California. The company’s investors have included Andreessen Horowitz, Morado Ventures, and Sutter Hill Ventures.

Who’s Flocking to FinovateAsia – and From Where?

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From Appenzell and Bangkok to Melbourne and Taipei to Singapore itself, the fintech professionals who will be heading to FinovateAsia in little over a month are truly coming from the four corners of the Earth.

But they say that seeing is believing. So here’s a heatmap of the home cities of this year’s FinovateAsia attendees.

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       ©2012 Esri & Stamen, Data from OSM and Natural Earth
Representing the home countries of:
  • Australia
  • Azerbaijan
  • China
  • Germany
  • Great Britain
  • Hong Kong
  • India
  • Indonesia
  • Israel
  • Japan
  • Malaysia
  • Philippines
  • Singapore
  • South Africa
  • Switzerland
  • Taiwan
  • Thailand
  • United States

FinovateAsia 2013 returns to the MAX Atria at Singapore Expo on November 14, 2013 for a full day of demonstrations, presentations and networking with industry professionals, bankers, venture capital, and the fintech media. 

For more information, and to save your spot, visit our FinovateAsia 2013 page here.

FIS Brings Cloud-Based, Real-Time Core Banking Utility to Central, Eastern European Banks

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One of the biggest memes to emerge from FinovateFall 2013 last month was the impressive innovation coming from not just European banks, but from Central and Eastern European banks, in particular.

Apropos of that meme is news that FIS will be launching the first, real-time, core banking utility in the cloud for mid-tier banks in, you guessed it, Central and Eastern Europe.

Hosted by Polish payment processor Krajowa Izba Rozliczeniowa S.A. (KIR), which handles more than 120 million transactions a month, the new Software-as-Service solution called FIS Profile promises:
  • Access to established product library to speed time-to-market
  • Greater insight into customer/bank relationships, providing for customized product offerings
  • Real-time banking with seamless integration to new digital channels
  • Low cost of ownership
KIR earned the title of Market Leader for Bank Innovation in 2012. The company secured its ISO 22301:2012 compliance certificate from the British Standards Institution the following year.
Based in Jacksonville, Florida, FIS is a major global provider of banking and payment technology solutions. With more than 32,000 employees serving over 14,000 institutions in more than 100 nations, FIS presented its Mobile Wallet technology as part of the FinovateSpring show in May. See the company’s demo here.

Fenergo Secures 4 Million Euro Investment from Investec Ventures

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In its first external funding round, customer onboarding specialist Fenergo announced this morning that they had raised  €4 million ($5.43 million USD). The new equity investment comes courtesy of Investec Ventures, and includes co-investment from current shareholders.

Fenergo plans to use the additional investment to expand their global presence in North American, Europe, and the Asia-Pacific region. Fenergo is based in Dublin, Ireland.

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Investec Ventures partner John Dolan, who will be joining the Fenergo board, said, “(Fenergo) has proven deployments with large global tier one banks and is solving a real pain point for financial institutions who have relied primarily on labor intensive manual processes in onboarding new clients.”
Fenergo develops software that helps financial institutions better meet regulatory and compliance requirements during the onboarding process. The company demoed its Deal Manager software as part of the FinovateEurope 2012 show (see their presentation here), and is looking to accelerate development of its enterprise platform.
Fenergo is chaired by former founder and CEO of Norkom Technologies, Paul Kerley. Marc Murphy is the company’s co-founder and CEO. Fenergo’s clients include RBS, Lloyds Banking Group, Investec, and Rabobank.

Finovate Alumni News– October 8, 2013

  • Thumbnail image for FinovateLOGO.jpgGreen Dot taps Grace Wong as Chief Financial Officer.
  • TSYS extends processing agreement with MainStream Merchant Services.
  • FIS brings cloud-based, real-time, core banking utility to Central, Eastern European mid-tier banks.
  • Fenergo secures 4 million euro investment from Investec Ventures.
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.

Jemstep Raises $4.5 Million in Series A Round

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A big week for Finovate alumni funding looks likely to finish on a strong note with news that Jemstep has raised $4.5 million as part of a Series A round of investment.

The funding included participation from existing investors as well as new investor, Caleo Capital. Jemstep’s total funding now stands at $15 million. The company plans to use the additional capital for new hires, broadening distribution, and overall product development.

Jemstep launched its Portfolio Manager in January (and presented the technology at FinovateSpring in San Francisco in May). The company’s solution helps individuals plan for retirement by analyzing current portfolio holdings, recommending an alternative portfolio that improves upon the current portfolio, and providing an Action Plan that lets investors know exactly what to buy, what to sell, and what to hold.

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Jemstep Portfolio Manager also helps investors minimize tax exposure, reduce fees, and stay on top of their portfolios via the system’s constant monitoring and user alerts. The company is headquartered in Los Altos, California. Kevin Cimring and Michael Blumenthal serve as Joint CEOs. Simon Roy is Jemstep’s President.
The online financial advisory firm was among an octet of Finovate alumni highlighted in a September Wall Street Journal feature on the advisory industry. Take a look at that feature here.

Third Quarter 2013 Funding for Finovate Alumni — More than $171 Million Raised

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The third quarter of 2013 revealed that even during the sleepy days of summer, the business of putting capital into the coffers of fintech innovators remained as busy as ever.

Finovate alumni were the beneficiaries of more than $171 million during July, August, and September. This brings the total year-to-date funding for Finovate alumni to at least $526 million (some of the funding amounts were undisclosed).

Here is the Q3 summary for 2013:

July — More than $63 million raised by eight companies
August — More than $26 million raised by six companies
September — $82 million raised by nine companies
Note: Fundings prior to a Finovate appearance not included. Questions? Comments? Email us at julie@finovate.com or david@finovate.com.

CardFlight Secures $1.6 Million in Seed Funding from ff Venture Capital

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A big funding week for Finovate alumni just got bigger: innovative payment processor CardFlight (FinovateSpring 2013) just announced that it had raised $1.6 million in seed capital.

The funding was led by ff Venture Capital. Also participating were:

  • Payment Ventures
  • Apostolos Apostolakis
  • Entrepreneurs Roundtable Accelerator
  • Plug & Play Ventures
  • Great Oaks Venture Capital
CardFlight provides an offline payment processing solution billed as the “easiest way to integrate card-present payments into your mobile app.” The company’s encrypted card reader works with almost any iOS or Android device. And with CardFlight’s secure SDK, the technology supports most payment processors including First Data, Stripe, and TSYS.
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Who needs this stuff? According to Derek Webster, founder and CEO of CardFlight, everything from event ticketing to CRM apps are the kind of environments that can benefit from offline payment processing options. Interestingly, the majority of CardFlight’s clients are larger businesses looking white-label the company’s technology and maintain full control of the user experience. Said Webster, “our clients can integrate mobile payments into their apps in a matter of hours, while still customizing their mobile application and other solutions exactly how they wish.”