Author: Julie Muhn (@julieschicktanz)

MISYS (Formerly Known as IND Group) Shows Off New Digital Banking Experience

By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateEurope 2014, IND Group
This post is part of our live coverage of FinovateEurope 2014.

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Then, MISYS (formerly known as IND Group) demonstrated its new digital banking experience:
“To adapt to younger generations’ requirements, IND Group delivers a best-in-class banking app with an innovative drive. With IND’s next generation mobile banking, Essence, all services are only a few taps away – anytime, anywhere. Mobile banking has never been so comfortable and easy, yet secure. The application offers more than just transactional banking: based on customers’ life situations banks are able to deliver personal, targeted offers, turn data into relevant, visualized information, and provide a user experience like never before, turning mobile banking into their primary engagement and sales channel.”
Presenting József Nyíri (Founder & Chief Innovator) and Tamás Braun (General Manager)

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Product Launch: November 2013
Metrics: €12M in revenue, 8 offices, 225 employees, 40 retail banks & financial institutions as clients
Product distribution strategy: Direct to Business (B2B), through financial institutions, through other fintech companies and platforms, licensed
HQ: Munich, Germany
Founded: October 1997
Website: misys.com
Twitter: @MisysFS

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Truphone Helps Banks Stay Compliant with its Mobile Recording Technology

By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateEurope 2014, Truphone
This post is part of our live coverage of FinovateEurope 2014.

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Afterwards, Truphone demonstrated how its Mobile Recording technology helps banks stay compliant:
“The Dodd-Frank Act poses banking technologists with a technical and compliance problem. They must record all mobile phone communications relevant to a trade. Today, most banks do not record mobile devices, they fall outside of their technology stack. Communication is invisible; and that’s why the regulation now exists. 
With Truphone Mobile Recording, businesses record, encrypt and store their mobile calls and text messages, simply and securely – without changing the user experience. Truphone Mobile Recording is available as a secure hosted solution, or can be integrated with existing recording equipment.”
Presenting Paul Liesching (SVP Mobile Recording) and Tom King (Enterprise Account Manager)
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Product Launch: September 2013 (USA), UK Launch November 2011
Metrics: Raised over £200M, circa 700 employees in ten offices across four continents, counts 3 of the top 5 banks in the world as customers, plus many of the FTSE 100 and Fortune 1000.
Product distribution strategy: Direct to Business (B2B), through other fintech companies and platforms
HQ: London, UK
Founded: June 2006
Website: truphone.com
Twitter: @Truphone

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Matchi’s Innovation Matchmaking Platform Opens Channels of Communications for Banks and Innovators

By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateEurope 2014, Matchi
This post is part of our live coverage of FinovateEurope 2014.

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Matchi debuted its platform that connects banks and innovators:
“Matchi is an Innovation Matchmaking platform for banks and innovators to establish collaborative relationships that deliver increased return on investment for innovators and banks alike. Matchi is here to open persuasive channels of communication so that both sides can benefit from the relationship.”

Additionally, Matchi announced today that it has signed a three year sponsorship deal for Spain with CaixaBank.

Presenting David Milligan (CEO) and Gerrit Hoekstra (CTO)

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Product Launch: November 2013
Metrics: Privately owned company with 10-50 employees
Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B)
HQ: Hong Kong, China
Founded: 2013
Website: matchi.biz
Twitter: @matchibiz

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Jumio’s Netverify and Netswipe Solutions Help Reduce Security Woes

By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateEurope 2014, Jumio
This post is part of our live coverage of FinovateEurope 2014.

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Starting off the second session today, Jumio demonstrated how two solutions: Netverify and Netswipe offer increased security:
“Netverify offers real-time ID verification of passports, driver licenses, government issued ID cards, utility bills, insurance cards, and bank statements. This cutting edge technology is used by financial institutions, e-tailers, and consumer marketplaces to meet know-your-customer industry regulations, reduce fraud and chargeback costs in purchase transactions, and enhance trust and safety in online communities.
Netswipe supports real-time credit card scanning and validation in online and mobile checkouts. By eliminating the need to have consumers engage in laborious and error-prone key entry, our clients enjoy higher transaction completion rates, increased revenue, and reduced fraud and chargeback.”
Presenting David Pope (Marketing Director EMEA) and John McIntosh (Sales Engineer) 

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Product Launch: 2012
Product distribution strategy: Direct to Business (B2B), through financial institutions, through other fintech companies and platforms
HQ: Palo Alto, CA, USA
Founded: 2010
Website: jumio.com 
Twitter: @jumio

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Kofax’s Mobile Capture Technology Unlocks Many Opportunities to Banks

By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateEurope 2014, Kofax
This post is part of our live coverage of FinovateEurope 2014.

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Then, Kofax demonstrated how its mobile capture technology can be used for everything from account opening to check depositing:
“Kofax is demonstrating how banks can enable customers’ mobile phones to capture documents in support of the onboarding and check deposit process. Customers are prompted to take a picture of a document and submit information, which is automatically extracted, validated for accuracy, and then utilized in the decision process. Kofax® is demonstrating how to engage the customer via the mobile device and allow the customer the ability to interact to open a new account, apply for loans, and deposit cheques with the snap of a photo.”
Presenting Drew Hyatt, SVP Mobile Applications

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Product Launch: February 2014
Metrics: Subsidiaries in 30 countries, >1,200 employees, 800+ channel partners, products available in 70+ countries, 20,000+ customers, London Stock Exchange & NASDAQ: KFX, $266.3M in revenue, $46.3M adjusted EBITA, $93.4M cash
HQ: Irvine, CA, USA
Founded: 1985
Website: kofax.com
Twitter: @Kofax

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AdviceGames Launches Virtual Guardian Angel Platform to Give Banks, Insurers, and IFAs Tools to Serve the Market

By Julie Muhn (@julieschicktanz) Posted on
Categories: AdviceGames, FinovateEurope 2014
This post is part of our live coverage of FinovateEurope 2014.

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Next up, AdviceGames debuted a Virtual Guardian Angel for financial advisors:
“AdviceGames develops the World’s first Virtual Guardian (Advisors) Angel, namely – an intelligent Financial Experience Cloud Platform (FECP). This platform offers two high end services which gives Banks, Insurers and IFAs the tools they require to once again successfully serve these markets. 
Firstly it offers the World’s first academic and interactive omnichannel performance monitor – the NIFA (National Index for Financial Advice) Suite. Secondly the VGA offers an online loyalty store, which provides a cloud-based angel offering designed to improve consumer experience leading to breakthrough customer loyalty.”
Presenting Diederick Van Thiel (CEO) and Rosali Steenkamer (COO)

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Product Launch: February 11, 2014
Metrics: In 2013 we sold eyeOpen to Aegon/Transamerica. The buyout fee is being invested into AdviceGames to develop the virtual guardian angel for the Dutch, UK and US markets. We run offices in Amsterdam, London and San Francisco
Product distribution strategy: Direct to Business (B2B), through financial institutions, through other fintech companies and platforms, licensed
HQ: Amsterdam, The Netherlands
Founded: December 24, 2013

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Pixeliris’ Copsonic Enables P2P Transactions

By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateEurope 2014, Pixeliris
This post is part of our live coverage of FinovateEurope 2014.

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Then, Pixeliris took the stage to demo how its Copsonic can work with P2P Transactions:
“How they describe their product/innovation: CopSonic is the first universal contactless mobile payment system powered by our unique technology. It is based on sonic communication transiting through the devices’ speakers and microphones. Therefore, our technology is compatible with 100% of existing phones and smartphones, unlike NFC technologies. Several patents have been filed with regard to the security of the transaction.
Our technology allows peer-to-peer transactions between feature phones and smartphones but also enables online passwordless authentication turning the devices into security dongles.
We developed an SDK that allows third-party companies to integrate the modules and, therefore, create a business model based on transaction fees or licenses.”
Presenting Christian Ruiz (Sales Manager) and Emmanuel Ruiz (CEO & Head of Innovation)

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Product Launch: September 2013
Metrics: €210,000 in capital, 11 employees in France, 120 engineers around the world
Product distribution strategy: Direct to Business (B2B), through financial institutions, licensed
HQ: Montauban, France
Founded: April 1989
Website: copsonic.com

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Plutus Software Launches KreditAja.com Credit Scoring Site

By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateEurope 2014, Plutus Software
This post is part of our live coverage of FinovateEurope 2014.

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Plutus Software is up first, launching its credit scoring site, KreditAja.com:
“In addition to the comparison functionality for the various financial products, KreditAja.com features predictive analytics to aid both borrowers and lenders.  For borrowers, this potentially enables creditworthy individuals to gain access to financing that they normally would not be able to obtain based on traditional credit scoring methods. At the same time, this analytics capability enables lenders on our platform to more accurately assess the risk of borrowers so as to better price the products that they are disbursing. Our proprietary credit scoring system aims to produce a more holistic assessment of a borrower’s creditworthiness via incorporating multiple data sources, including social media.”
Presenting Aidil Zulkifli (CEO) and Jagannathan Janagyraman (Group CTO)
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Product Launch: February 2014
Metrics: S$700,000 raised in seed funding, 15 employees, approximately $5 million in approved loans
Product distribution strategy: Direct to Business (B2B), licensed
HQ: Singapore
Founded: February 2012
Website: KreditAja.com

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UK-Based Card-Linked Offers Company, Birdback, Raises $2.4 Million

By Julie Muhn (@julieschicktanz) Posted on
Categories: Birdback, Funding

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Adding to the flood of funding this month, card-linked offers company Birdback recently announced $2.4 million dollars in venture funding.

Passion Capital led the round, followed by:

    • Paul Nikkel
    • Luke Johnson
    • Playfair Capital
    • #1seed

The UK-based company will use the round to retailers and financial institutions. Users in the UK, France, and Brazil will have the first opportunity.

To learn more about Birdback, check out its demo from FinovateEurope 2013.

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FinovateEurope 2014 Launches Tuesday. Come Join Us!

By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateEurope 2014

The Finovate team is on their way to London, and that can only mean one thing: FinovateEurope 2014 is just around the corner!

Here’s what you need to know as you prepare to attend the biggest show we’ve ever hosted in Europe:

Schedule
Registration opens at 8AM on Tuesday, February 11 and the demos will go from 9:00AM Tuesday until 3:30PM on Wednesday.

If you don’t have your ticket yet, there’s still time. Ticket registration will be open until we sell out. Click here to be a part of our record-breaking audience.

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Venue
We’ll be returning to the Old Billingsgate Market Hall on the Thames. As a reminder, here’s the address:

1 Old Billingsgate Walk 16 Lower Thames Street London, EC3R 6DX
Presenters
Throughout the two day event, 67 companies will have a chance to show off their newest technology from the Finovate stage. Check out our Presenters page to learn more about each company.Euro2014BookletLogoCloud.jpgQuestions about the event? Check out the FAQ or contact info@finovate.com.

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New OBR Published: Money 3.0

By Julie Muhn (@julieschicktanz) Posted on
Categories: bitcoin, Online Banking Report

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The report, Money 3.0: Payments Go Mobile examines the evolution of money beyond cash, check and credit cards. We also take a look at the biggest story in payments over the past six months, the rise of bitcoin. If you believe the proponents, we’ve been witnessing the founding of the “internet for money.” 
That may be true, but like Napster when it created the “internet for music” there will be substantial push-back from existing players. And this time, legacy providers will have the full support of the government to keep the newcomers in check. 
But as the music industry changed post-Napster, we expect the rise of bitcoin, and digital financial transfers in general (especially mobile), to have lasting impact on the financial services industry. The rapid rise of mobile payments at PayPal, the original alt-payments disrupter, illustrates the speed of change in the space.
This report looks at the latest developments and recommends potential courses of action for financial institutions of all sizes.


About the report


Money 3.0: Payments Go Mobile (link)

Apple, Bitcoin, & mobile apps are changing the game. What’s a bank to do?

Author: Julie Schicktanz, Research Analyst
Editor: Jim Bruene, Editor & Founder
Published: 4 February 2014
Length: 36 pages
Cost: No extra charge to OBR subscribers, US$395 for others here

Report excerpt:

A look at Fidor Bank’s recent involvement in bitcoin:
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Finovate Alumni News– February 5, 2014

By Julie Muhn (@julieschicktanz) Posted on
Categories: ACI Worldwide, Backbase, Digital Insight, Digital Mailer, Experian, Fiserv, Flint Mobile, Kabbage, PlayMoolah, Taulia
  • Finovate-F-Logo.jpgKabbage expands platform to serve all SMBs: online, brick-and-mortar, and services businesses.
  • Spend Matters interviews Taulia’s Markus Ament on its discounting philosophy, e-invoicing, and ERP.
  • Gartner recognizes Backbase CXP as being at the forefront of UX design and mobile development support.
  • Washington Federal picks Fiserv’s DNA account processing platform.
  • Digital Mailer adds eight new financial institutions to its My Virtual Strongbox service.
  • Experian launches real-time data sharing service for UK credit providers.
  • Genesis Financial chooses ACI Worldwide to power multichannel call center and eLockbox payment options.
  • LegacyTexas Bank of Plano to work with Digital Insight to deploy online and mobile banking solutions. See Digital Insight demo at FinovateEurope next week.
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.

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