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After attending FinovateSpring last week David Brebner, Principal Consultant at Mindful Insights, considered the question:
“As a financial services executive, where would you invest your e-commerce budget based on the products on show at FinovateSpring 2013”
To answer this question, he “invested” $100 of play money in 12 different technologies featured at the show. The infographic below summarizes how he allocated the funds:
If you missed FinovateSpring last week, check out all 72 demos here.
Giftly, a startup that brings gift card-giving and receiving to the mobile platform, announced today that it has been acquired by GiftCards.com.
Giftly, which launched in 2011, allows users to send and receive gift cards using their mobile device without requiring point-of-sale integration on the merchant side.
The financial terms of the deal were not disclosed, but San Francisco-based Giftly will become a part of GiftCards.com while maintaining its offices in the Silicon Valley.
Giftly had previously raised $2.8 million from Baseline Ventures, SoftTech VC, Floodgate, Thrive Capital, and TechStars co-founder David Tisch. Even though GiftCards.com has been in the industry since 1999, it is looking to raise its first round of capital this year, which it will use to accelerate its growth and complete the Giftly acquisition.
To learn more about Giftly, watch its FinovateSpring 2012 demo.
SumUp, a European player in the mobile-based card reader and point-of-sale space, recently launched in Russia and has opened an office in Moscow.
In Russia, the SumUp card reader will support all major credit and debit cards, including MasterCard and Visa. Support for American Express is coming soon.
The Ireland-based company is now operating in 11 countries:
This expansion gives SumUp the largest geographical footprint (in pink, above) over other European mobile point-of-sale rivals such as iZettle.
Along with the Russian launch, SumUp announced a partnership with Svyaznoy Group to distribute SumUp dongles in almost 3,000 Russian retail stores.
Businesses can sign up for SumUp’s service in brick-and-mortar Svyaznoy stores and on SumUp’s website. The service provides native language assistance.
To learn more about SumUp, watch its FinovateEurope 2013 demo, where it won Best of Show.
Thanks to all who tweeted and followed #Finovate throughout the last week’s event. On Tuesday afternoon there was enough activity to propel #finovate to the top of the trending subjects in San Francisco. Here are some of our favorites.
Card-linked offers platform, Cardlytics, announced last week that it has raised $40 million from undisclosed, existing investors.
The Boston-based company’s president and COO, Lynne Laube, explained that the $40 million will be used to expand its international presence. Cardlytics already has plans to launch with bank partners in Europe, Australia, Canada, and Brazil. Specific bank partners are still undisclosed.
To learn more about Cardlytics, watch its FinovateEurope 2013 demo.
Last week’s FinovateSpring 2013 received great coverage through blogs, tweets and articles. Here are the highlights:
Full conference live blogs
Three contributors risked carpel tunnel to cover all 72 demos. Thanks to Erin McCune and William Mills III and Phillip Ryan for going the extra mile!
Bank Innovation
by Phillip Ryan
FinovateSpring recap and ratings
Day one morning recap
Day one afternoon recap
Day two morning recap
Day two afternoon recap
After the final demos wrapped up on two fintech-packed days at FinovateSpring 2013, the audience voted for their favorite demos to ultimately decide who would be named Best of Show. The overall top five took home the trophies.
The winners (in alphabetical order):
We’ll have the videos of all 72 demos posted on Finovate.com in a few weeks.
Thanks to everyone who joined the audience and came to be a part of our largest show so far. And thanks to the 77 innovators* who braved the Finovate stage.
——————————————————————
*Five demos hosted a co-presenting company, including Visa, MasterCard, USAlliance Credit Union, Intuit, and Paydiant
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 five 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.
After the final demos wrapped up on two fintech-packed days at FinovateSpring 2013, the audience voted for their favorite demos to ultimately decide who would be named Best of Show. The top 5 overall took home the trophies.
The winners (in alphabetical order):
We’ll have the videos of all 72 demos posted on Finovate.com in a few weeks.
Thanks to everyone who joined the audience and came to be a part of our largest show so far. And thanks to the 77 innovators* who braved the Finovate stage.
——————————————————————
*Five demos hosted a co-presenting company, including Visa, MasterCard, USAlliance Credit Union, Intuit, and Paydiant
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 five 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.
“Prestadero uses its proprietary management software to originate loans in an extremely efficient way. Our platform allows us to parse out declined loans in seconds and determine rates for approved loans in less than 1 minute.Our web interface allows lenders to view their entire portfolio in detail. Lenders can also view specific graphs and scorecards that allow them to make better investment decisions, even if they are not investment professionals. We provide lenders with tools, such as our “diversification index,” which quickly and comprehensively lets them know their risk exposure depending on the diversification of their loans. Our software also enables lenders to select multiple loans at once by filtering through the user’s selected criteria. They can also choose to reinvest their returns based on the same or a different set of criteria.Through their online account, borrowers have full control over their loan’s entire process, from filling out the application to paying it off completely. We also charge the borrower’s bank accounts directly when their payments are due, diminishing delinquencies and providing a better service for our customers. The entire process is streamlined and coded with peer-to-peer finance in mind, reducing human interaction on the back-end of the technology and providing more accurate, up-to-date information on our front-end.”
“Plastyc is demonstrating the administrator-facing side of the BankingUP platform, allowing issuing banks and program managers to:
- Monitor and analyze cardholders’ financial activity in real time;
- Monitor and analyze cardholders’ non-financial activity; e.g., usage of mobile apps and web, customer support interactions;
- Communicate instantly with programmable subsets of cardholders via web inserts and smartphone push notification for marketing/upselling and product alerts.
This is a departure from traditional batch mode financial-transactions only reporting obtained from processors.”
“The Tradeslide Challenge is a gamified learning process where traders compete to develop the skills that make up a solid trader (risk management, discipline, etc.), in the right order, one badge at a time.”
