Finovate Alumni News

On Finovate.com

  • AnchorID Brings Custom Authentication to Credit Unions
  • FinovateFall 2016 Best of Show Winners Announced
  • Trustly Taps Oscar Berglund as New CEO
  • FinovateFall 2016: Live from the Twitterverse

Around the web

  • Kantox launches dynamic hedging to help monitor currency risk in real-time.
  • FIS brings its Cardless Cash solution to CO-Op Financial Services.

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.

 

FinovateFall 2016 Best of Show Winners Announced

FinovateFall 2016 Best of Show Winners Announced

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Innovations in automobile financing that leverage mobile technology to empower buyers. Omnichannel solutions that enable customer onboarding in less than a minute. Intelligent personal assistants that hear and respond in natural, conversational language.

The Best of Show winners of FinovateFall 2016 are a compelling tribute to the diversity of our industry. From new strategies that help financial institutions leverage their data to provide better services, to platforms that transform the gift card from a present-of-last-resort to the perfect gift, to a multifaceted identity-solution capable of securing everything from your email account to SWIFT wires, it is an exciting time to be a part of this dynamic fusion of finance and technology.

And while we give due credit to those demos that drew the most enthusiastic praise from our record-breaking FinovateFall audience, know that our Best of Show winners represent the tip of the spear, the vanguard of a movement whose innovations will shape the way we save, spend, invest, and engage the financial world for years to come.

Here are our Best of Show award winners for FinovateFall 2016 (in alphabetic order):

AutoGravity Logo copyAutoGravity for its app that harnesses the power of the smartphone to enable users to take control of the automobile buying and financing experience.

Backbase---Hi-ResBackbase for its omnichannel banking platform that leverages optical character recognition and facial recognition to deliver 60-second onboarding.

clinc-logo-finovate-new copyClinc for its personal assistant for mobile banking, “Finie,” that uses advanced artificial intelligence and deep learning to communicate with users in natural, conversational language.

 

MX Logo copyMX for its innovative technology that enables FIs to acquire new data, as well as better and more effortlessly understand and analyze the data they already have.

 

Swych Logo copySwych for its mobile gifting platform that makes it easy for users to buy, send, upload, redeem, and exchange gift cards instantly and conveniently from their mobile devices.

Trusona Logo copyTrusona for its insured cloud identity suite with offerings that run the gamut from securing everyday logins to protecting the world’s most sensitive assets.

We had a great time at FinovateFall 2016 and hope you enjoyed our two-day conference, as well. A thousand thanks to our sponsors, our partners, our presenters, and, last but not least, the 1,600+ attendees who made this year’s FinovateFall our biggest event yet. We’ll see you again next year!


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 six 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 through 2014. Best of Show winners from our 2015 and 2016 conferences are below:
FinovateEurope 2015
FinovateSpring 2015
FinovateFall 2015
FinovateEurope 2016
FinovateSpring 2016

Finovate Alumni News

On Finovate.com

  • Welcome to Day Two of FinovateFall!

Around the web

  • Fiserv launches BillMatrix Next, a configurable, multichannel e-billing and payment platform.
  • Xero unveils plans for Facebook Messenger accounting bot.

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.

Welcome to Day Two of FinovateFall!

Welcome to Day Two of FinovateFall!

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1600!

It’s official: FinovateFall 2016 is our biggest event to date, eight times the size of our first Finovate conference back in 2007. Thanks to everyone who has made it possible. And with our developers’ event FinDEVr Silicon Valley just over a month away, and the return of FinovateAsia coming up in November, there is still much innovation to come.

Our first day of FinovateFall 2016 on Thursday showed how technology can leverage even the most old-fashioned of savings strategies into truly, behaviorally savvy PFM; how a few lines of code can turn abandonment into omnichannel engagement; and much, much more. Relive it all when free videos of every demo are released later this month.

All this just makes us that much more excited for what’s in store for the final day of our annual fall event. So without further ado, here’s the lineup for Day Two.

Registration begins at 8 a.m.

8 a.m. – 8:45 a.m., Registration & Continental Breakfast

8:45 a.m. – 10:15 a.m., Demo Session #5 featuring:

10:15 a.m. – 10:45 a.m., Intermission & Refreshments

10:45 a.m. – 12:05 p.m., Demo Session #6

12:05 p.m. – 1:00 p.m., Buffet Lunch & Refreshments

1:00 p.m. – 2:40 p.m., Demo Session #7

2:40 p.m. – 5:00 p.m., High Quality Networking & Open Bar with Appetizers

Best of Show Winners will be announced during the end of day networking session.

All demo videos will be available for free in a few weeks in our video archives.

New Report from AARP Explores the Longevity Economy

New Report from AARP Explores the Longevity Economy

AARP_LongevityEconomy

_______________________

Guest post by Theodora Lau*
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By 2015, there were more than 1.6 billion people in the world who were part of the 50-plus cohort. By 2050, this number is projected to double to nearly 3.2 billion people. Throughout the world, the growth of this age group is having a transformative impact, economically and socially. The United States alone is home to 111 million in the 50-plus demographic, representatives of a powerful force driving economic growth and value. AARP has branded the group the Longevity Economy, because it represents the sum of all economic activity driven by the needs of Americans aged 50 and older, and includes both products and services they purchase directly and the further economic activity this spending generates.

The difference it makes is substantial. In the first Longevity Economy report released in 2013 by AARP and Oxford Economics, the Longevity Economy fostered $7.1 trillion in annual economic activity. This figure has now been revised to $7.6 trillion in the latest report. The out-sized contribution reflects the changing demographics, wealth, and spending patterns of the 50-plus population as the lifespan increases and the Longevity Economy becomes more pervasive and central to economic and social policies.

Key findings from this report include the following:

  • The 50-plus cohort represented approximately 35% of the U.S. population in 2015 and was responsible for over $7.6 trillion in annual economic activity—roughly 42% of total U.S. gross domestic product (GDP).
  • Direct spending on consumer goods and services, including health care, by those aged 50 and older, amounted to $5.6 trillion in 2015.
  • Approximately $1.8 trillion in federal, state and local taxes were attributable to the Longevity Economy in 2015—about 34% of federal tax revenue and 41% of state and local tax revenue collected in the U.S.

The economic contributions of the Longevity Economy are evident, and the beneficiaries are not limited to those over 50. In fact, the spending of the Longevity Economy supports more than 89.4 million jobs (61% of all U.S. jobs) and over $4.7 trillion in labor income.

As Jody Holtzman, senior vice president of market innovation at AARP, would often say:” Why would you leave money on the table by ignoring the only humongous growth-market that exists?!” So the question for entrepreneurs and VCs is simply this: What is your 50+ strategy?

The Longevity Economy Report is available for download at:

http://www.aarp.org/technology/innovations/innovation-50-plus/research/#longevity

For more information about AARP’s technology innovation initiatives and how AARP sparks innovation in the marketplace for the benefit of people over 50, please visit:

http://www.aarp.org/technology/innovations/innovation-50-plus/


*Theodora Lau is director of enterprise strategy and innovation at AARP. You may contact her for more information at tlau@aarp.org.

Finovate Alumni News

On Finovate.com

  • New report from FinovateFall 2016 sponsor AARP explores the Longevity Economy.

Around the web

  • CR2 launches its next generation ATM software, BankWorld ATM Client 5 and BankWorld Studio.
  • RNC Genter Capital Management picks Asset Manager Connect from Fiserv.
  • CardFlight unveils new set of iOS and Android-compatible, Bluetooth-enabled mobile card-readers.
  • Xero teams up with Macquarie Bank to integrate with electronic billpay system, BPAY.
  • Entersekt forges reseller agreement with Blue Bay Technologies.
  • Zopa partners with Pariti to help millennials manage credit card debt.
  • Russell Investments selects Qumram for compliant, digital recording and retention. See Qumram at FinovateFall in New York.

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.

Welcome to FinovateFall!

Welcome to FinovateFall!

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It’s finally here; you made it to FinovateFall!

We have a full show today packed with plenty of fintech to explore. If you can’t make it, but want to come tomorrow, we have special one-day tickets. Buy them online or ask about them at the registration desk.

Here’s today’s lineup:

Registration opens at 8 a.m.

8 a.m. to 8:45: Registration and Continental Breakfast

8:45 a.m. to 10:15:

10:15 a.m. to 10:45 a.m. Intermission & Refreshments

10:45 a.m. to 12:05 p.m.:

Lunch 12:05 p.m. to 1:00 p.m.

1:00 p.m. to 2:20 p.m.:

2:20 p.m. to 2:50 p.m., Intermission & Refreshments

2:50 p.m. to 4:10 p.m.:

4:10 p.m. to 6:15 p.m., Networking, Open Bar & Appetizers
Best of Show winners will be announced tomorrow.

All demo videos will be available for free in a few weeks in our video archives.

Rye Bread, Mustard, and Finovate’s Great Grand Slam

Rye Bread, Mustard, and Finovate’s Great Grand Slam

RehearsalDayArt-FF2016

To steal a line from the late, great Seattle Mariners play-by-play announcer, Dave Niehaus: “Bring out the rye bread and mustard, grandma! It’s Grand Salami time!”

This year, for the first time, FinovateEurope, FinovateSpring, and FinovateFall have all surpassed the “1,500+ tickets sold” milestone. To reach this point—coming at the same time we celebrate our tenth anniversary—is truly something special, and we couldn’t have done it without you. So consider this a sincere “Thank You!” from the bottom of our fintech-loving hearts.

It’s rehearsal day here at FinovateFall 2016. And in the ballroom of the New York Hilton Midtown, presenters for this week’s conference have been checking mics, testing laptops, and practicing opening lines in preparation for our upcoming two-day event. To help you get ready for the show, here are a few last-minutes tips and reminders.

Bizzabo_logo_newBe a part of it—with Bizzabo!

Join the FinovateFall community via our meeting app on Bizzabo. Registered attendees can use Bizzabo to network with presenters, show sponsors and partners, as well as your fellow Finovate attendees. Bizzabo is available for both iOS and Android mobile devices, as well as via an online web interface at Bizzabo.com.

After you’ve downloaded the app, search for “Finovate.” Select “Join” and you’re ready to go. Note that only registered attendees can join the community/networking section of the app.

Twitterlogo_lightblueLe tweet c’est chic

Whether you’re joining us in person or enjoying the conference remotely, our Twitter feed at @Finovate is a great way to follow the action on stage, to say nothing of the often-colorful reactions, analysis, and insights from our educated, fintech-savvy audience. Be sure to mark your tweets #Finovate so our more than 31,000 Twitter followers will be able to readily pick up what you’re putting down.

We hope you’re looking forward to this week’s show as much as we are. The conference begins Thursday morning here at the New York Hilton Midtown at 8:45am (registration is at 8am). If you have any questions about the event, please feel free to email us at fall@finovate.com or check out our FinovateFall 2016 FAQ.

Finovate Alumni News

On Finovate.com

  • Four Fintech Companies Featured in Forbes 100 Most Innovative Public Companies

Around the web

  • Mambu announces plan to double staff to support 10% month-on-month growth.
  • NCR teams up with MX to bring data-driven money-management to FIs. See MX at FinovateFall in New York this week.
  • Expensify opens new office in Melbourne, Australia.
  • Online currency exchange b-Sharpe chooses Mobile Verify from Mitek for identity verification.
  • Leading hedge fund Logica Capital Advisors selects Vera to manage critical business information and internal collaboration files.

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.

FinovateFall: Mapping the Future of Fintech Today

FinovateFall: Mapping the Future of Fintech Today

PresenterHQMap_FF2016

Every time we build a Finovate presenter headquarters map, we are reminded of how geographically diverse fintech innovation has become. For all the talent gathered in places such as the Bay Area, New York, and London, our map encourages us to keep in mind less talked-about locales—like Utah, for example, where multiple Best of Show winner MX and Finovate newcomer ProActive are both making personal finance technologies for the 21st century. And it’s not just the Mountain West. Three companies scheduled to demonstrate their latest technologies live on the Finovate stage this week hail from Texas, two from Florida, and five from the Great Lakes region of Wisconsin and Michigan.

Beyond the United States, familiar international fintech powerhouses like Israel and Canada (eight presenters from the Great White North alone!) are sharing space with Nigeria and Cyprus, countries that are relative newcomers to the global fintech scene. And with our return to Asia only a few months away, it will be great to get a preview of fintech innovation from the Far East in the form of South Korea’s eStorm and Japan’s iBank (as well as their neighboring APAC innovators from Australia, Full Profile and identitii).

The lights go up on FinovateFall 2016 Thursday morning, September 8th, and the conference continues on Friday, September 9th, culminating with our Best of Show awards Friday afternoon. If you are still making arrangements to join us in New York next week, know that tickets are still available; our venue at the New York Hilton Midtown is world-class, conveniently located, and easily accessible; and our entire team is busy at work with the final preparations that will make your FinovateFall experience one to remember.

So we hope to see you this week in NYC! In the meanwhile, if you’ve got questions, we’ve got answers. Check out our FAQ or e-mail us at fall@finovate.com and we’ll be happy to help.


FinovateFall 2016 is sponsored by The Bancorp, AARP, Financial Technology Partners, Grant Thornton, Hudson Cook, KPMG, and Leverage PR.

FinovateFall 2016 is partnered with Acuity Market Intelligence, Aite Group, American Bankers Association, BankersHub, Bankless Times, BayPay Forum, Bitcoin Magazine, Breaking Banks, Byte Academy, California Bankers Association, Canadian Trade Commissioner Service, CB Insights, Celent, Coin Telegraph, Crowdfund Beat, Digital Currency Council, Digital.NYC, EbankingNews, FemTechLeaders, Fintech Finance, The Fintech Times, Harrington Starr, Holland Fintech, IDC Financial Insights, Innovate Finance, Javelin, Juniper Research, Korea FinTech Forum, Mapa Research, Mercator Advisory Group, Next Money, NYPAY, Ovum, Payments & Cards Network, The Paypers, PitchBook, Plug and Play, SME Finance Forum, Swiss Finance + Technology Association, and Western Independent Bankers.

Four Fintech Companies in Forbes 100 Most Innovative Public Companies

Four Fintech Companies in Forbes 100 Most Innovative Public Companies

forbes innovators list

We love seeing alums called out in the numerous “most innovative” articles. Usually, those skew to young private startups. But the recent Forbes list of innovators, limited to large public companies (minimum market cap = $10 billion, with 7 years of public ownership), didn’t disappoint. Four financial technology companies made the top-100 list, and all four have appeared on the Finovate stage. Interestingly, financial services firms are excluded by Forbes on the grounds that they “have no measurable investment in R&D.” (I am sure many readers would argue that point).

Here are the financial fab-four in order of their finish (the innovation premium is the extra value investors place on their growth vs. their enterprise value, methodology):

Note: Experian will be showing its latest tech at Finovate this week as well (sneak peek)

Mastercard Says “Me Too” to Visa’s PayPal Partnership

Mastercard Says “Me Too” to Visa’s PayPal Partnership

Screen Shot 2016-09-06 at 7.54.52 AM

Just over a month after PayPal signed a partnership with Visa, the online money-transfer company has inked a deal with Mastercard.

The terms of today’s agreement with Mastercard are similar to those PayPal laid out with Visa:

  • Mastercard will be clearly presented as a payment option within the PayPal app
  • Users will be able to set Mastercard as their preferred payment method
  • Mastercard will help PayPal boost its presence at the point-of-sale (POS)
  • Mastercard’s Masterpass will be available as a payment option for merchants using Braintree
  • Venmo users can withdraw their Venmo balance using Mastercard Send

Also similar to the Visa deal, PayPal will receive volume incentives and will not be charged a digital wallet-operator fee for using Masterpass.

PayPal spun off from parent company eBay last year and has since been focused on growing its presence at the brick-and-mortar POS to help it compete with the growing number of mobile-wallet apps. The company’s recent partnerships with Visa and Mastercard are expected to spur growth in this area.

PayPal debuted Instant Account Creation at FinovateEurope 2012. Justin Woo, the company’s Braintree developer evangelist, presented at FinDEVr New York 2016. Visa has also presented at FinDEVr: M. Tad Tilahun, VP of product development, and M. Tad Tilahun and Alan Johnson, senior director/digital developed markets, presented at FinDEVr San Francisco 2014. Visa previously appeared at FinovateSpring 2010, where it demoed a tool to help consumers collect and organize products. At FinovateFall 2014, Mastercard took the stage to launch Mastercard Pay with Rewards, a solution that allows cardholders to redeem points at the point-of-sale. The company showed off its Developer Zone at FinDEVr San Francisco 2014.