Blog - Page 803 of 1215

Akamai Launches Client Reputation to Help FIs Make Better Security Decisions

By David Penn Posted on February 10, 2015
Categories: Akamai, FinovateEurope 2015

This post is part of our live coverage of FinovateEurope 2015.

Akamai is ready to demonstrate the new Client Reputation feature of its Kona Site Defender technology.

The Akamai Client Reputation service is designed to help financial services institutions improve their security decisions when the threat would otherwise be unclear. The service provides the ability to forecast intent and protect applications against Distributed Denial of Service and application layer attacks. It does this by identifying and sharing with customers the likelihood that particular IP addresses fall into one of four “malicious” categories: web attackers, Denial of Service attackers, web scrapers, and scanning tools.

Presenters: Ory Segal, director, threat research, and Nick Coleman, web security specialist

Product launch: February 2015

Product distribution strategy: Direct to Business

HQ: Cambridge, MA

Metrics: Revenue $1.58 billion in 2013; 5,000+ employees. Customers include 1 out of every 3 Global 500 companies; 8 of the top-10 U.S. online brokers; 8 of the top U.S. asset-management firms; and 10 of the top-10 P&C insurance carriers. Akamai delivers 15% to 30% of all Web traffic globally.

Website: akamai.com

Twitter: @AkamaiUK

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MoneyHub Demonstrates its PFM Ecosystem

By David Penn Posted on February 10, 2015
Categories: FinovateEurope 2015, Moneyhub

This post is part of our live coverage of FinovateEurope 2015.

MoneyHub is up next, offering a personal finance management solution that puts users in the center of their financial universe.

The MoneyHub ecosystem is a place where users can aggregate their own data and information, access financial advice, and connect with financial institutions and other services.

The MoneyHub ecosystem puts the user at the center of their financial universe, helping them make better choices for their financial future and manage their relationships with financial institutions more effectively.

Presenters: CEO Toby Hughes and CTO Dave Tonge

Product launch: Q2 2015

Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B), through financial institutions, through other fintech companies and platforms; licensed

HQ: Bristol, United Kingdom

Metrics: MoneyHub is a Bristol-based company in a phase of rapid growth. We currently have 40 employees and will be expanding further throughout 2015. MoneyHug currently tracks more than £3 billion (pounds) in consumer assets daily.

Website: moneyhub.co.uk

Twitter: @moneyhubapp

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eToro Introduces Social Trading for Generation Y

By Julie Muhn (@julieschicktanz) Posted on February 10, 2015
Categories: eToro, FinovateEurope 2015

This post is part of our live coverage of FinovateEurope 2015.

eToro debuted its platform for the new generation of traders:

The company that started out as a gamifier of trades, introduced the world to its social investing network, and created the concept of CopyTrading, is now reinventing its own domain. eToro is introducing a whole new way to trade for the Gen Y population – social trading like you’ve never seen before.

Presenters: Yoni Assia, CEO and founder; Tal Ben-Simon, VP product

Product launch: February 2015 at FinovateEurope

Metrics: £48 million raised to date from venture capital and private investors; 4 million users worldwide; 130 million trades on the platform since inception

Product distribution strategy: Direct to Consumer (B2C)

HQ: London, United Kingdom

Founded: January 2007

Website: etoro.com

Twitter: @eToro

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SOFORT Demonstrates its Banking Paycode to Ensure Secure Transactions

By David Penn Posted on February 10, 2015
Categories: FinovateEurope 2015, SOFORT

This post is part of our live coverage of FinovateEurope 2015.

A part of the Klarna Group, SOFORT offers innovative products to ensure secure transactions online.

SOFORT Banking Paycode is an online link to the SOFORT payment form, which already contains all relevant information for the transfer. By using the link, the digital transfer form is automatically filled in and ready for the transfer. You’ll find the paycode on your invoice, which you receive from the merchant via email, mail or SMS. The paycode can be entered either via the website of the merchant or at sofort.com. Alternatively, you can use the code link that leads you directly to our encrypted SOFORT Banking payment form. The transfer can then be carried out easily via SOFORT Banking.

Presenters: Christian Mangold, managing director, sales; Marc-Andre Bewernik, senior manager, products; and Fridolin von Schönau, senior manager, products

Product launch: May 2013

Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B), through financial institutions, through other fintech companies and platforms

HQ: Gauting, Germany

Metrics:

Turnover 2014: approx. 25 million euro (increase in sales as compared to 2013: more than 30% across Europe)
External revenue with SOFORT Banking 2014: approx. 3.3 billion euro
Employees: 170 in 2014; 150, 2013
On average, 3,000 consumers use SOFORT Banking at least once
More than 18 million users have already used SOFORT Banking at least once
More than 100 million transactions since the company was founded
More than30,000 e-commerce shops use SOFORT Banking

Website: sofort.com

Twitter: @SOFORTAG

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Backbase Launches Omnichannel Journey Manager

By Julie Muhn (@julieschicktanz) Posted on February 10, 2015
Categories: Backbase, FinovateEurope 2015

This post is part of our live coverage of FinovateEurope 2015.

Backbase showed how it’s bringing omnichannel options to the user experience:

Backbase is launching the latest version of the Backbase Customer Experience Platform at FinovateEurope 2015, with a strong focus on the omnichannel customer journey and journey management.

Completely new in this release of Backbase CXP is the Backbase Omnichannel Journey Manager, giving direct insight in the multiple touchpoints in a customer’s typical journey, with the option to directly dive in and fix inconsistencies.

A lot of digital banking providers and software vendors talk omnichannel. We make it real and visible. With the new Backbase Journey Manager, we give Channel Managers at Financial Institutions direct insight into how multiple channels are being used and where the most common handover points are (the moments of truth).”

Presenters: Jouk Pleiter, CEO & founder; Jelmer de Jong, global head of marketing

Product launch: February 2015

Metrics: Privately owned; 250+ employees; offices in New York, Atlanta, London, Moscow and Singapore; technology used by more than 40 large financials across the globe

Product distribution strategy: Direct to Business (B2B) through financial institutions, through other fintech companies and platforms

HQ: Amsterdam, The Netherlands

Founded: April 2003

Website: backbase.com

Twitter: @backbase

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InvoiceSharing Launches its White Label, Electronic Invoice Distribution Platform for Banks

By David Penn Posted on February 10, 2015
Categories: FinovateEurope 2015, InvoiceSharing

This post is part of our live coverage of FinovateEurope 2015.

InvoiceSharing is up next, demonstrating its free electronic invoice distribution platform for banks.

We learned that banks need a white-label version of the InvoiceSharing platform for five reasons:

Reduce cost of capital (cost of unused lines of credit)

Bring added value to clients and upsell more

Distribute cash to companies in a new way

Split transactions and services provided to customers

Prove that banks do not over-credit companies

We are launching the first white-label version for banks to capture all the data they need to achieve these goals. Capturing all data from incoming and outgoing invoices and combining it with payment data and data from the company’s clients systems allows banks to lend more money with less risk at lower costs.

Presenter: CEO Jeroen Volk; VP of Business Development Stephen van Stek

Product launch: February 2014

Product distribution strategy: Through financial institutions, through other fintech companies and platforms, licensed

HQ: Rotterdam, The Netherlands

Metrics: €2 million raised; growing 15% month on month with invoice volume in euros; 10 employees; deal with first bank for white label

Website: invoicesharing.com

Twitter: @invoicesharing

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Dynamics Debuts its Multi-Currency Card to Help Travelers Avoid Cross Border Transaction Fees

By Julie Muhn (@julieschicktanz) Posted on February 10, 2015
Categories: Dynamics, FinovateEurope 2015

This post is part of our live coverage of FinovateEurope 2015.

Dynamics debuted its multi-currency card to help travelers avoid cross border transaction fees.

Dynamics was founded and seeded in 2007 by Jeff Mullen, its president and CEO. Dynamics produces and manufactures intelligent powered cards, such as advanced payment cards. Focused on introducing fast-cycle innovation to top card issuers, the company’s first commercial application is the world’s first fully card-programmable magnetic stripe for use in next-generation payment cards.

Presenter: Jeff Mullen, CEO

HQ: Pittsburgh, Pennsylvania, U.S.A.

Founded: November 2007

Website: dynamicsinc.com

Twitter: @DynamicsInc

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Avoka’s 3-Minute Loan Application Streamlines Account Opening

By Julie Muhn (@julieschicktanz) Posted on February 10, 2015
Categories: Avoka, FinovateEurope 2015

This post is part of our live coverage of FinovateEurope 2015.

Avoka showed its fast onboarding process:

The 3-Minute Loan Application: Fastest Onboarding Experience in the World

Product and pricing are not differentiators in financial services—customer experience is. In particular, frictionless customer experiences have proven effective for attracting and retaining customers. Avoka helped a client go from 36% conversion rate for personal loan applications to 51% in just 4 weeks by focusing on delivering a frictionless experience for the customer. Because online, seconds matter.

We are demonstrating how combining social, cloud services, and crowd sourcing streamlines account opening, and how credit origination minimizes customer effort and takes the friction out of customer acquisition.

Presenters: Chief Experience Officer Derek Corcoran and Technical Manager

Kevin Mortimer

Product launch: February 2013

Metrics: Privately held company with 80+ employees globally

Product distribution strategy: Direct to Business (B2B), through other fintech companies and platforms

HQ: London, United Kingdom

Founded: January 2002

Website: avoka.com

Twitter: @avokatech

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VATBox Takes the Headache Out of Tracking VAT

By Julie Muhn (@julieschicktanz) Posted on February 10, 2015
Categories: FinovateEurope 2015, VATBox

This post is part of our live coverage of FinovateEurope 2015.

VATBox demonstrated its system that tracks and manages VAT spend:

VATBox is demoing a first-of-its-kind, cloud-based, truly automated solution. The automated VAT recovery solution and dashboard enable customers to build one global process that tracks and manages VAT spend with ease. Automation guarantees reduce risk, simplicity, and ease of use by eliminating human error and reducing the inefficiencies of manual processes. But, automation and transparency isn’t only about the money, it’s about data integrity. Qualified and validated data delivers visibility, control, and compliance.

VATBox empowers companies like Teva, PPG, and Broadcom by maximizing returns while enabling transparency. Deployment is simple; all it takes is a few simple steps.

Presenters: CEO, Co-founder Isaac Saft; Stephen Coleclough, advisory board member, VATBox

First product launch: November 2013; VATBox 2, January 2015

Product distribution strategy: Direct to Business (B2B) and through other Fintech companies and platforms

HQ: Herzilliya, Israel

Founded: 2012

Website: vatbox.com

Twitter: @VATBox

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With Wipro’s ngGenie myAdvisor, Users Receive Personalized Banking Assistance

By Julie Muhn (@julieschicktanz) Posted on February 10, 2015
Categories: FinovateEurope 2015, wipro

This post is part of our live coverage of FinovateEurope 2015.

Wipro debuted ngGenie myAdvisor:

Wipro ngGenie™ myAdvisor truly provides the ‘Next Generation Banking Experience’ for customers. The Wipro ngGenie™ myAdvisor can have an interactive conversation with you in natural language using voice and gestures. Wipro ngGenie™ myAdvisor learns from your spend patterns, banking transactions, retail transactions, and your social transactions and provides personalized assistance.

It is able to adapt to the user, understand context, and provide the right kind of assistance. It learns from the user’s actions and is able to predict user action as well as provide timely help. Wipro ngGenie™ myAdvisor covers a broad range of functionalities across branch, call center, and web, and provides omnichannel experience.

Presenters: General Manager Mukund Kalmanker and Practice Head Sudhakar Babu Tamminedi

Product launch: May 2015

Product distribution strategy: Through financial institutions

HQ: Bangalore, Karnataka, India

Founded: December 1945

Website: wipro.com

Twitter: @wipro

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CoinJar Leverages BlockChain Technology to Provide a Wide Range of Digital Payment Options

By David Penn Posted on February 10, 2015
Categories: CoinJar, FinovateEurope 2015

This post is part of our live coverage of FinovateEurope 2015.

CoinJar is the eminent digital finance platform in the Australian market. The company’s co-founders are making their way to the stage.

CoinJar lets users buy, sell, send, receive, and spend digital and traditional forms of currency using the blockchain technology that underlies bitcoin. With a simple user interface designed for the average consumer, CoinJar bridges legacy payment systems and new digital platforms. It opens the potential for bitcoin to become the future of global remittance payments, automated escrow, smart contracts, digitized asset ledgers, and secured and signed user cryptography.

CoinJar also has an open API, allowing developers to innovate on top of the CoinJar platform to adopt the best of blockchain technology for uses other than currency.

Presenters: Co-founders Asher Tan and Ryan Zhou

Product launch: December 2014

Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B)

HQ: London, United Kingdom

Metrics: AU$450,000 raised in venture capital and angel investment; more than 40,000 users; more than $50 million in exchange transactions in Australia; 285,000 BTC sent between CoinJars worth $150 million; 13 employees

Website: coinjar.com

Twitter: @GetCoinJar

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iSignthis Presents its Cloud-Based Identification and Transaction Authentication Technology for PSPs

By David Penn Posted on February 10, 2015
Categories: iSignthis

This post is part of our live coverage of FinovateEurope 2015.

Our next presenter is iSignthis, with its cloud-based identity and transaction-authentication solution for payment service providers.

A global, highly scalable, and fully remote combined evidence of identity and transaction authentication system to assist clients with meeting (i) Know Your Customer (KYC) for AML/CTF requirements and (ii) strong customer/payment authentication. The service generates evidence of identity on a dynamic basis, linking transaction parameters to the payment instrument and multifactor authentication. The service also assists PSPs with meeting the European Banking Authority’s SecuRE Pay and its strong customer authentication requirements, and the EC’s PSD2.

The service further provides operational benefits for any online business seeking to reduce customer onboarding friction, mitigate CNP fraud, and/or streamline operations.

Presenters: Managing Director John Karantzis; Commercial Director Marc Bongers

Product launch: February 2015

Product distribution strategy: Direct to Business (B2B), through financial institutions, through other fintech companies and platform, licensed

HQ: Melbourne, Victoria, Australia

Metrics: $1 million USD raised to date; less than 15 employees; listing on ASX in January 2015

Website: isignthis.com

Twitter: @iSignthis_Ltd

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