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Finovate Blog
Tracking fintech, banking & financial services innovations since 1994
A look at the companies demoing at FinovateSpring in San Francisco on May 18 and 19. Register today and save your spot.
Global PayEx’s AI-powered, cloud platform targets working capital optimization in B2B accounts receivable (AR) and accounts payable (AP).
Features
95% straight-through reconciliation
20%+ reduction in DSO
1-4% enhancement in revenue
Why it’s great
It’s an AI-based reconciliation solution that’s customizable to every company’s accounts processes through core, ML-based modules.
Presenters
Naru Ramamoorthy, CRO Ramamoorthy specializes in growing P&Ls, leveraging technology, process, operations, and market needs. He’s held leadership roles in industries including payments, banking and financial services, and retail. LinkedIn
Anu Agrawal, Executive VP & Head, North America Agrawal has worked with tech start-ups and global giants and specializes in setting up new regions and taking them to scale. He has over two decades of leadership experience in banking and payment and tech. LinkedIn
New to FinovateSpring this year, we’re connecting startups raising early-stage capital with investors who can make it happen. And there’s still room at the table. If you’re a startup raising pre-seed/seed/series A funding, apply now. Interested investors should reach out to Heather Stowell.
To shed a little more light on our Advanced Startup Booster program on May 18, Greg Palmer, VP of Strategy and host of The Finovate Podcast, sat down with one of the investors, Garnet Heraman, who will be meeting these startups.
As Founder and Managing Partner at Aperture Venture Capital, Heraman not only has VC insight into startup funding in the fintech industry, but he also has years of entrepreneur experience, notably as the CEO of three tech companies acquired within years of each other.
“In a general sense, this is such a people business and such a leadership and management business, especially at the early stages of a VC-backed company,” Heraman said. “At the early stages of a startup, I think it’s all about personalities, personal discernment and rapport, leadership, and substance. Saying what you mean and meaning what you say. Tried and true maxims about what it takes to be a good, bankable person.”
Heraman added, “In our fintech world specifically, what Aperture looks for essentially is what we call ‘fintech adjacent’ or ‘fintech plus.’ We’re looking for those undiscovered intersections between traditional fintech and some compelling lucrative enterprise segment. A company that takes a problem-solving perspective and lives at that intersection.”
Below are some further insights from Heraman from his recent conversation with Finovate VP Greg Palmer.
On building networks and ecosystems
(The) Startup Booster Program looks like an awesome way to get the right companies in front of the right people at the right time. I (think) about where I was when I was a first- and second-time entrepreneur. (We) could have done a much better job of essentially getting out and about into the conferences and building networks and building ecosystems.
On delivering value to pre-seed fintech startups
We feel like there is an immense opportunity to deliver value to these pre-seed companies if you can make that alignment happen proactively. Beyond any kind of capital, things like product and technology support, sales and distribution support, logistics and supply chain guidance and resources (are critical). To the extent that those things can be more readily available to more pre-seed companies, what you’re going to see is . . . the overall ecosystem for pre-seed companies develop better and rise to the top.
On the importance of a healthy startup ecosystem
Without young startups being in channels that have them coming into contact with seed and later-stage VCs and/or corporations, a couple of things happen. They don’t get the funding they need and the smart money they need, like access to mission critical operational resources, at a critical time when they are still developing. Without the opportunity to refine, if not pivot, make mistakes and fix them, the overall market is going to be bereft of companies that could otherwise do well for themselves.
On the importance of diversity
If only a tiny portion of all of these billions of dollars in VC capital is going to people of color, you have to ask yourself what is the opportunity cost to the gross national product of this country? By not having more money go into the hands of innovators and entrepreneurs who are people of color and, maybe more importantly, female, what is the opportunity cost?
Advanced Startup Booster meetings take place on May 18 between 5pm to 6pm. For more information on how to get involved, visit our Startup Booster program hub today!
A look at the companies demoing at FinovateSpring in San Francisco on May 18 and 19. Register today and save your spot.
Lendisoft transforms the end-to-end loan management process with a SaaS suite integrating risk management and compliance IQ. Machine learning and AI automation result in workflow and performance differentiation.
Features
Workflow and process design with integrated risk management and compliance
Machine learning and AI automation
SaaS scalability, scoring models and easy UI
Why it’s great
Lendisoft transforms the loan portfolio management business with integrated risk management, compliance, machine learning, AI automation, and a process driven design resulting in ~30% lift in monthly performance.
Presenters
Rick Haskell, COO & Founder Haskell has over 30 years in lending excellence and leadership driving operational performance with repeatable and scalable processes. His workflow design and risk management strategies are key advantages. LinkedIn
Bill Gerber, CRO and Founder’s Circle Gerber has been on the bleeding edge of consumer engagement technology his entire career. He has driven, contributed and experienced 11 acquisitions. He is an agent of change and performance. LinkedIn
A look at the companies demoing at FinovateSpring in San Francisco on May 18 and 19. Register today and save your spot.
Tuo is a leading alternative data credit services company that creates industry-leading credit underwriting and servicing solutions to truly support the underbanked.
Features
Increase credit application conversions with the white-label Tuo Credit Builder that allows users to build credit on autopilot.
Why it’s great
A true “SET IT and FORGET IT” credit building solution. Tuo does the work. Their customers get the credit.
Presenters
Adam Finke, CEO Finke is a consumer finance expert and purveyor of financial inclusivity for all. LinkedIn
George Ulmer, CTO Ulmer is a premier full-stack developer with dynamic coding and successful founder experience. LinkedIn
A look at the companies demoing at FinovateSpring in San Francisco on May 18 and 19. Register today and save your spot.
Pendo’s product experience and digital adoption solutions help companies become product-led and deliver digital experiences users love.
Features
Pendo Adopt includes:
Behavioral analytics
In-app messaging and guides
Actionable feedback
Why it’s great
Pendo Adopt can be deployed across an entire portfolio of workplace software, from proprietary software built by internal teams to customized off-the-shelf solutions
Presenter
Clay Miner, VP of Sales & Value Engineering Miner has a strong history of developing, implementing, and selling world class enterprise software. LinkedIn
A look at the companies demoing at FinovateSpring in San Francisco on May 18 and 19. Register today and save your spot.
Hawk:AI’s AI-based, real-time AML and fraud surveillance detects patterns that purely rule-based systems miss.
Features
AI is explainable and auditable
Allows users to detect and prevent financial crime faster
One interface for maximum efficiency
Why it’s great
Efficient, effective, and explainable AML & fraud detection, powered by AI.
Presenter
Steve Liú, General Manager, North America Liú is a veteran in the fraud and regtech industry, with years of experience directing teams in operations and global expansions across the U.S. and APAC. LinkedIn
A look at the companies demoing at FinovateSpring in San Francisco on May 18 and 19. Register today and save your spot.
Basis Theory is a data tokenization platform used by organizations to quickly, securely, and compliantly use their sensitive data.
Features
Search encrypted data without decrypting
Build secure applications and workflows in minutes
PCI Level 1 compliant and SOC 2 certified environment
Why it’s great
Accelerate time-to-market and time-to-compliance.
Presenters
Colin Luce, CEO Luce brings over a decade of experience building and operating various fintech companies, including Yodlee, Klarna, and Figure. He is currently the co-founder and CEO of Basis Theory. LinkedIn
Brandon Weber, VP of Engineering Weber is an experienced engineer and leader with over 20 years experience in software development, cryptography, and network security at organizations ranging from the Air Force to Dwolla.
A look at the companies demoing at FinovateSpring in San Francisco on May 18 and 19. Register today and save your spot.
The Fundica funding search engine serves as a powerful business client acquisition tool for financial institutions by enabling them to truly democratize access to funding.
Features
Easily generate new business leads and retain clients with a complementary funding search engine
Gather firmographics and funding needs
Automatically promote diversity, equity, and inclusion
Why it’s great
Fundica makes financial intuitions a better and more complete funding destination by effortlessly extending their service offering at scale.
Presenter
Mike Lee, CEO & Co-Founder Lee is the CEO and Co-Founder of Fundica. He has held leadership roles in technology organizations, secured over $350 million in government funding, and holds Engineering, MBA, and CFA designations. LinkedIn
A look at the companies demoing at FinovateSpring in San Francisco on May 18 and 19. Register today and save your spot.
Keep is introducing a new form of employee compensation called Cash Vesting Plans that works like a 0% interest loan from the employer to the employee.
Features
Cash bonus given to employees and vests over time
0% interest loan given against bonus
Employee financial freedom while improving retention and hiring
Why it’s great
Keep is aligning employer and employee incentives and disrupting the way compensation works.
Presenter
Rob Frohwein, CEO Frohwein was the Co-Founder and CEO of Kabbage, a global fintech acquired by American Express. With Keep Financial, Frohwein is now disrupting how compensation works. LinkedIn
A look at the companies demoing at FinovateSpring in San Francisco on May 18 and 19. Register today and save your spot.
Incognia is a privacy-first, location identity company that provides frictionless mobile authentication to banks and fintechs for reduced fraud losses.
Features
Delivers highly precise risk assessment for mobile apps for less fraud
Recognizes trusted users based on location behavior
Enables zero friction, zero-factor authentication
Why it’s great
With identity fraud losses hitting $52 billion in 2021, today’s fraud prevention is not working. Incognia’s privacy-first, location identity delivers highly precise risk assessment for mobile apps.
Presenter
Andre Ferraz, CEO & Founder Ferraz is an expert on location technology and a strong advocate for user privacy. Originally from Brazil, Ferraz founded his first company while a university student in computer science. LinkedIn
A look at the companies demoing at FinovateSpring in San Francisco on May 18 and 19. Register today and save your spot.
Horizn’s award-winning platform helps banks globally accelerate digital banking knowledge, fluency, and adoption with both customers and employees.
Features
Overachieve digital banking customer growth objectives
Call center and branch efficiency and profitability through digital
Support ongoing agile product/feature launches
Why it’s great
Using Horizn, banks experience a more than 300% increase in product/feature launch effectiveness and success, 20% reduction in volume of digital banking support calls, and 45 second reduction in support call time (average).
Presenter
Steve Frook, SVP of Sales As SVP of Sales at Horizn, Frook works closely with financial institutions to significantly increase adoption and awareness of new and existing innovations. LinkedIn
A look at the companies demoing at FinovateSpring in San Francisco on May 18 and 19. Register today and save your spot.
Finzly allows the building of programmable banks by providing a financial infrastructure for banks, fintechs, and businesses to quickly offer and access financial services in an open ecosystem.
Features
Speed to market
Agility to assume new avatars
Freedom to innovate
Why it’s great
Speed, agility, and freedom culminate in innovation and the democratization of banking!
Presenters
Booshan Rengachari, CEO & Founder Rengachari founded Finzly in 2012 with a vision to simplify transformation of financial institutions and democratize banking. Today, his brainchild – the award-winning nextgen platform, Finzly OS – is a testament to his vision, helping banks play an active role in the connected economy. He is a member of the U.S. Faster Payment Council Advisory Board, regular speaker at leading industry forums, and acclaimed for his thought leadership in bank transformation. LinkedIn
Murthy Bulusu, CTO & Co-Founder Co-founder of Finzly, Bulusu is instrumental in building the Finzly platforms and streamlining the customer implementation process. Bulusu formerly led technology teams at Wells Fargo, TIAA-CREF, Ford, and Chrysler. Working in tandem with the product team, he explores emerging technologies and appropriately uses them in Finzly products. LinkedIn
Vijay Vardhan, VP of Products Vardhan is the VP – Products at Finzly, leads product management, and helps to maximize the company’s customer-centric focus through the correct approach to product design. Innovation to solve real-world problems in the modern economy and working on the right product roadmaps is Vardhan’s forte. He has 4 patents in automobile technology, worked at GM & Chrysler, and has an MBA from Michigan State. LinkedIn