Inside Expensify’s New Concierge Bot

Inside Expensify’s New Concierge Bot

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Online expense-report processing company Expensify launched a new bot this week. Her name is Concierge—yes, they gave their bot a gender—and she is an “intelligent, virtual assistant” that combines Expensify’s data of billions of dollars of expenses with real-time pricing data of every flight, car, and hotel across the globe.

The automated intelligence bot uses machine learning to assist with new user onboarding, outstanding task notification, customer service, and other tasks and processes. In a blog post announcing Concierge, Expensify highlighted one feature in particular, Scheduled Submit.

After customers use SmartScan to upload their receipts into Expensify, Concierge reads and categorizes those receipts, then adds the data to the user’s expense report. The bot even knows if transactions fall within company policy, and if they do, it sends the expense report to the user’s manager on their behalf. When combined with Expensify’s next-day reimbursement, users can have the funds back in their bank account the day after incurring the expense.

Expensify explains that “it’s not worth anybody’s time to manually transcribe, submit, review, and approve a ton of tiny receipts, and Concierge is there to take all that drudgery off your team’s plate.”

Founded in 2008, Expensify demoed Expensify Invoices at FinovateSpring 2013. Next month, on October 18 & 19, the company will present at FinDEVr Silicon Valley in Santa Clara, Calif. Discounted tickets for the event are still available through tonight. Register today to save.

See What You Missed at FinovateFall: Demo Videos Now Available

See What You Missed at FinovateFall: Demo Videos Now Available
29175062613_79b8fac89a_kAbove: MX jumps for joy to celebrate the company’s Best of Show win.

I should start this post by admitting that I missed FinovateFall this year. My wedding was the weekend after the show and there was no way to swing both. While I think I chose wisely, I certainly felt FinovateFall FOMO after reading Twitter highlights and press coverage.

If you, like me, missed out, we have the next best thing to being there. All of the 70 demos from FinovateFall are now available for free in our video archives and event photos are posted on Flickr. Also, there’s still time to catch more fintech this fall at our developer’s conference, FinDEVr (October 18 & 19) and our first event in Hong Kong, FinovateAsia (November 8).

The best place to start is by watching the six demos that won Best of Show:

AutoGravity

Backbase

Clinc

MX

Swych

Trusona

Thanks again to all the presenting companies who braved the Finovate stage and to all who attended. We’ll see you next year!

NCR Unveils Business Banking Mobile App

NCR Unveils Business Banking Mobile App

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If you are a community bank or credit union, then there’s a lot to like in the launch of Business Banking Mobile from NCR. The app brings the SaaS banking services platform to the mobile channel, giving small-and-medium FIs the ability to offer their business customers a range of services via iOS and Android devices. The solution features the user experience of Digital Insight’s Mobile Banking Apps, ensuring a familiar, retail feel, and includes TouchID and EyePrint ID biometric authentication options.

Speaking for Harborstone Credit Union (Tacoma, Washington), where the technology is in beta testing, VP of Marketing and Digital Experience Ken Bloomfield called the app “in direct alignment” with Harborstone’s commitment to providing an omnichannel experience for its business customers. SVP of Marketing Jim Huff, whose El Paso, Texas-based FirstLight FCU is piloting the new mobile app, highlighted the features that will be available to its businesses, including fund transfer, wire-transfer approval, and account notifications. He says the combination of NCR and Digital Insight helped “ensure that the product continues to evolve as financial technology evolves.”

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Left to right: Shuki Licht, senior enterprise architect at NCR, and Kimberly Preto, director of business development and alliances at Digital Insight, demonstrated Transaction Data Manager at FinovateSpring 2016.

Headquartered in Georgia, NCR demoed its Transaction Data Manager at FinovateSpring 2016. A specialist in consumer-transaction technology, NCR facilitates more than 550 million transactions a day in verticals ranging from financial services and small business to travel and telecom. Earlier this month, the company announced its partnership with six-time Finovate Best of Show winner MX with the launch of a new data-driven money-management platform, NCR Money Management. MX CEO Ryan Caldwell suggested that the collaboration, which began in the spring of 2016, was the start of an enduring partnership between the two companies. “We look forward to innovating together for many years to come,” Caldwell said.

NCR also announced a handful of development initiatives over the summer, launching a joint research effort into ATM and retail banking technology with Wells Fargo and opening a new innovation lab at its new global headquarters in Atlanta. Bill Nuti is president, CEO, and chairman.

Finovate Alumni News

On Finovate.com

  • NCR Unveils Business Banking Mobile App.
  • Inside Expensify’s New Concierge Bot.

Around the web

  • eFinancialCareers profiles Finovate newcomer, Overbond.
  • P2Binvestor wins finance and banking PowerBook award from Denver Business Journal.
  • Taulia tops one million mark for buyer-supplier relationships in its network.
  • Intellaegis announces new chairman, Mark Floyd.
  • Human Resource Executive magazine names PayActiv among its Top HR Products of 2016.

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.

FinovateAsia 2016 Presenters Revealed!

FinovateAsia 2016 Presenters Revealed!

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Fall is officially upon us which means it must be time to announce our presenting companies for FinovateAsia 2016!

This will be our first event in Hong Kong, and we were impressed by the enthusiasm and caliber of our applicant pool. The innovations ranged from biometrics and big data to the latest in investment management, lending, customer onboarding, and payments. After hours of review and debate, we have curated a roster of both leading, established companies and hot, young startups innovating from and for the Asian market. To see more information and background on each presenter, stay tuned for our Sneak Peek series.

Here’s a list of the companies showcasing their latest and greatest in Hong Kong on November 8.

In addition to the companies listed above, we’ll be revealing several stealth companies closer to the event.

With these innovative companies hitting the stage, along with four hours full of high-quality networking in just one day, this is an event you surely won’t want to miss. Register your ticket before Friday, October 7, and take advantage of the early-bird pricing!


FinovateAsia 2016 is sponsored by: InvestHK/startmeup.hk, KPMG and more to be announced.

FinovateAsia 2016 is partners with: BankersHub, Banking Technology, Big Data Made Simple, Celent, CoinTelegraph, CrowdFundBeat, FemTechLeaders, Finolab, Fintech Finance, Fintech News Singapore, Harrington Starr, The Hong Kong Foreign Financial Institutions Association, IDC Financial Insights, Korea FinTech Forum, Miss FQ, SME Finance Forum, Swiss Finance + Technology Association, and Verdict Financial.

FinDEVr Preview: Modo

FinDEVr Preview: Modo

FinDEVrSV16-withdateFinDEVr Previews highlight companies presenting new developer tools, platforms, and integrations at FinDEVr Silicon Valley 2016, October 18 & 19. Early-bird savings end Friday, so pick up your ticket to save your spot today.

With Modo, you’ll learn how to build brand-spanking-new digital payments experiences that connect to not-so-new (and please, don’t spank them) existing payments systems using Modo COIN Operated Digital Payments Hub.

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Why it’s a must-see

New digital payments experiences need to use existing payments systems for scale, ease of adoption, and regulatory requirements. Don’t re-invent the bank (banks don’t like that). It’s easy to securely request money to move between any existing payments system connected to Modo.


Check out more of today’s FinDEVr Previews:

FinDEVr Preview: Marqeta

FinDEVr Preview: Marqeta

FinDEVr PreviewsFinDEVrSV16-withdate highlight companies presenting new developer tools, platforms, and integrations at FinDEVr Silicon Valley 2016, October 18 & 19. Early-bird savings end Friday, so pick up your ticket today and save your spot.

See how Marqeta’s open APIs are democratizing issuer payment processing by putting customers into the authorization stream.

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Why it’s a must-see

Get the control and insight of an issuer processor without the complexity—all through Marqeta’s API. Fund cards and authorize transactions in real time with JIT Funding. Add your own rules, your own decision engine, and your own data to make transactions happen in real time.


Check out more of today’s FinDEVr previews:

FinDEVr Preview: Lleida.net

FinDEVr Preview: Lleida.net

FinDEVrSV16-withdateFinDEVr Previews highlight companies presenting new developer tools, platforms, and integrations at FinDEVr Silicon Valley 2016, October 18 & 19. Early-bird savings end Friday, so pick up your ticket to save your spot today.

Lleida.net is introducing electronic communication solutions for merchants. These are seamlessly integrated through APIs. Registered email and online contracting provide the required legal evidence thanks to the certificate issued.

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Why it’s a must-see

Communication between merchants and consumers must be clear and provable so merchants are always protected if a breach of contract occurs. Lleida.net provides the definitive tools so that emails and online contracts have all the necessary legal backing to enforce the communication.


Check out more of today’s FinDEVr previews:

CoverHound Launches Insurance for Small Businesses

CoverHound Launches Insurance for Small Businesses

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Online insurance marketplace CoverHound expanded its offerings today. In addition to offering insight into auto, homeowners, and renters insurance, customers now can use CoverHound to find insurance for their small business.

The new business suite allows users to compare rates of custom commercial coverage. Currently, the insurance offerings are targeted toward businesses with fewer than 20 employees, but the company has plans to expand to cover larger companies. At launch, carriers include:

  • Chubb
  • Liberty Mutual
  • Berkshire Hathaway Direct
  • Hiscox
  • Progressive
  • Employers

More carriers will be available in the future. To get a quote, customers start by answering questions on the company’s web or mobile interface. Then they are connected by phone to a licensed insurance adviser to match them with the right coverage, including:

  • General liability
  • Professional liability
  • Business owners policy
  • Commercial auto
  • Cyber insurance

“Having once been a startup ourselves, CoverHound understands the growing pains of a small business,” said CoverHound CEO Keith Moore. “We’ll be there every step of the way to support business owners and ensure they get the coverage they need to satisfy third-party and legal requirements, and protect their property, customers and investment.”

CoverHound CEO and founder Basil Enan and CMO Keith Moore demoed the company’s mobile app at FinovateFall 2013. In 2015 the company closed a $33 million Series C funding round which brought its total funding to $53 million and boosted its valuation to $100 million. Later this year, CoverHound will launch CyberPolicy.com, where small businesses can shop for cyber insurance and cybersecurity tools. The company was founded in 2010.

Avalara Raises $96 Million in New Funding

Avalara Raises $96 Million in New Funding

avalara_homepage_september2016

We’re busy working on next month’s FinDEVr Silicon Valley developer’s conference (tickets still available), so we were thrilled to hear news of a major investment in Avalara, one of our FinDEVr alums from last year’s event.

Avalara, an innovator in automated tax management for small businesses, raised $96 million in new funding from a group of investors including Warburg Pincus, Sageview Capital, and Technology Crossover Ventures this week. Moreover, the company hinted it may be considering an initial public offering in the near future.

Quoted in GeekWire, company CEO Scott McFarlane called the possible IPO a “terrific outcome for Avalara someday if all the cards came together.” Avalara will use $50 million of this week’s investment to support acquisitions and growth—particularly its Compliance Cloud platform. The balance will be used to buy back shares from the company’s early investors. “This financing offers some long-term individual shareholders a liquidity event, while enabling more recent institutional investors to increase their stake,” McFarlane said. Avalara’s total capital raised is more than $318 million.

avalara_stage_fd2015

Loke Uei Tan discussed Avalara’s APIs during his presentation “The Wacky World of Sales Tax” at FinDEVr Silicon Valley 2015.

Justin Sadrian, managing partner at Warburg Pincus, called Avalara “the ideal platform company” his firm seeks for investment. Ned Gilhuly, founding partner at Sageview Capital, praised the automated tax-management specialist’s revenue growth since he began investing in Avalara, adding “going forward, we are as bullish as ever on the company’s growth prospects.”

Founded in 2004 and headquartered in Seattle, Washington, Avalara presented “The Wacky World of Sales Tax” at FinDEVr Silicon Valley 2015. Loke Uei Tan, senior manager for developer relations, showed how APIs help developers solve the problem of delivering accurate transitional tax information from more than 12,000 tax jurisdictions in the U.S.

Last month, Avalara added a number of new enhancements to its compliance document-management solution, CertCapture. In June, Avalara announced both a new integration with Stripe as well as earning recognition at the American Business Awards. Avalara calculates $100 million in taxes daily, and remitted $14.4 billion in taxes in 2015.

Finovate Alumni News

On Finovate.com

  • CoverHound Launches Insurance for Small Businesses
  • Avalara Raises $96 Million in New Funding

Around the web

  • Dwolla to power same day ACH transfers with new API.
  • Let’s Talk Payments interviews Tommy Petrogiannis, eSignLive CEO.
  • WePay chooses Workflow Manager from Sphonic to help meet KYC and KYB requirements.
  • Kony Wins First Place Honors for 2016 CTIA Emerging Tech Awards.
  • Expensify launches Concierge, and AI virtual assistant.
  • Cachet Financial Solutions to Deploy Select Mobile Deposit Solution for Mobile-Only Bank Varo Money.

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.

Lleida.net Calls New Patent a Turning Point

Lleida.net Calls New Patent a Turning Point

lleida_homepage_sept2016

The fastest way to gain a man’s affections, goes the old saying, is through his stomach. Spanish certification and consulting specialist Lleida.net is hoping the fastest way to win the affections of U.S. businesses is through the U.S. Patent Office.

FinDEVr alum Lleida.net (FDSV15) announced last week that it won a key patent for its registered email solution. The patent gives Lleida.net a 20-year lock on the technology and is the cornerstone of the company’s strategy for competing in the U.S. market. Lleida.net CEO Sisco Sapena said that the granting of the patent was a testament to “the effort Lleida.net’s team has made in recent years in developing registered electronic notification services and solutions.”

An innovator in the field of electronic communication registration and data validation, Lleida.net serves both public and private companies with registered email, invoices, SMS, and electronic contracts, as well as validation for IDs, passports, and other key documentation. Lleida.net serves as a “trusted third party” to help businesses build trust, better meet compliance regulations, and create legal evidence in e-commerce. It is the only solution of its kind that does not require either an installation on the user’s computer nor modifications to the email recipient.

Founded in 1995 and based in Lleida, Spain, Lleida.net presented “Who’s Guilty? Registered eCommunications: the Evidence for Developers, the Durable Media for Consumers” at our developer’s conference, FinDEVr, last fall. Join them next month as FinDEVr returns to the west coast for FinDEVr Silicon Valley 2016, October 18 & 19. Tickets are on sale now—with early-bird savings available through Friday. So visit our registration page and save your spot today.