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Kofax’s Mobile Capture Technology Unlocks Many Opportunities to Banks

By Julie Muhn (@julieschicktanz) Posted on February 11, 2014
Categories: FinovateEurope 2014, Kofax

This post is part of our live coverage of FinovateEurope 2014.

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

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 February 11, 2014
Categories: AdviceGames, FinovateEurope 2014

This post is part of our live coverage of FinovateEurope 2014.

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)

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

Website: advicegames.com

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EXCESS RETURN Launches its Next Generation Investment Tool, SCREENER/REPORT

By David Penn Posted on February 11, 2014
Categories: EXCESS RETURN, FinovateEurope 2014

This post is part of our live coverage of FinovateEurope 2014.

Our next innovator is EXCESS RETURN with their investment innovation SCREENER/REPORT.

“EXCESS RETURN develops next generation investment tools for the financial community. SCREENER/REPORT is an automatic tool that brings an immediate and crystal clear diagnosis of a trading opportunity.

SCREENER – Open the trading ideas box. Find the most promising stocks thanks to our SCREENER mode.

REPORT – Buy? Hold? Sell? Easy to use decision tool, our REPORT module.”

Presenting Frederic Lieferinckx (Founder) and Erik Laeremans (Web Designer & Developer)

Product Launch: February 2014

Metrics: Company Ownership: private, self-funded; Employees: 2 founders (financial analysts) and 3 IT engineers. To date, we’ve contracted large accounts (online brokers, banks, and media groups) and hundreds of thousands of users use our applications. EXCESS RETURN is targeting a total revenue of €2.5 million for 2014. The company didn’t raise any money yet and the shareholders are still the same (the 2 founders).

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

HQ: Brussels, Belgium

Founded: October 2011

Website: xsreturn.com

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Trustev Retail Decision Brings Real-time Verification to Across the Counter Transactions

By David Penn Posted on February 11, 2014
Categories: FinovateEurope 2014, Trustev

This post is part of our live coverage of FinovateEurope 2014.

Making their way to the stage now are the co-founders of Trustev, presenting Trustev Retail Decision.

“Trustev Retail Decision (Trustev RD) provides real-time verification of customer identities in a physical retail location where across the counter sales are occurring. A software solution that runs on tablets, the product allows in store staff to verify customer identities, without requiring customers to produce masses of paperwork. Developed initially for the Retail Telecom sector, the product has been adapted for other industries.”

Presenting Pat Phelan (CEO & Co-Founder) and Chris Kennedy (CTO & Co-Founder)

Product Launch: February 2014

Metrics: Founded in early 2013, Trustev currently employs 15 at its HQ in Cork, Ireland and recently opened a Sales Office in New York. In late 2013, Trustev announced one of Europe’s largest ever seed rounds when it raised $3.5 million from a mix of international funds – a huge achievement for a company less than a year old. In August 2013, Trustev was named Europe’s Top Technology Startup by the European Commission. The company currently processes in excess of 250,000 records every single day.

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

HQ: Cork, Ireland

Founded: May 2013

Website: trustev.com

Twitter: @trustev

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Avoka Debuts its Multi-Channel, Digital Online Business Platform, Avoka Transact

By David Penn Posted on February 11, 2014
Categories: Avoka, FinovateEurope 2014

This post is part of our live coverage of FinovateEurope 2014.

Heading toward the mid-morning break, our next demoing company is Australia-based Avoka, with Avoka Transact.

Avoka Transact, a multi-channel digital business platform, delivers a complete transaction experience that goes beyond ‘online forms’. Avoka Transact:

Gives your customers the tools and convenience of moving seamlessly between devices and channels when completing a single transaction.

Transforms enterprise-level form-based transactions from account opening, loan applications, and claims in to cross-channel forms available on smartphones, tablets, and desktop computers.

Supports your customers with both self-service and assisted channels such as in-branch, call centers, and mobile sales staff.

Presenting Derek Corcoran (Head of Business Solutions) and Kevin Mortimer (Technical Director)

Product Launch: March 2014

Metrics: Over 100 employees, offices in Australia, USA, and UK, tier 1 & 2 Financial services clients, government clients in USA, UK, and Australia, industry leading NPS score (+41)

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

HQ: Sydney, Australia

Founded: January 2002

Website: avoka.com

Twitter: @avokatech

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Pixeliris’ Copsonic Enables P2P Transactions

By Julie Muhn (@julieschicktanz) Posted on February 11, 2014
Categories: FinovateEurope 2014, Pixeliris

This post is part of our live coverage of FinovateEurope 2014.

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)

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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Device Ident’s Fraud Manager Leverages Machine Learning to Protect Online Transactions

By David Penn Posted on February 11, 2014
Categories: Device Ident, FinovateEurope 2014

This post is part of our live coverage of FinovateEurope 2014.

Our second presenter of the day is Device Ident, providing self-developed anti-fraud solutions ranging from device-fingerprinting to behavioral analytics.

“Fraud Manager is a sophisticated software solution to identify and analyze fraud within online transactions. The software can be used to recognize and find new fraud patterns within your e-commerce and financial services business.”

Presenting Felix Eckhardt (CTO) and Roberto Valerio (CEO)

Product Launch: February 2014

Metrics: Series A Financing by the Otto Group, Europe’s second largest online retailer; more than 20 clients out of the Top 250 online retail industry

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

HQ: Hamburg, Germany

Founded: 2013

Website: deviceident.com

Twitter: @deviceident

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Plutus Software Launches KreditAja.com Credit Scoring Site

By Julie Muhn (@julieschicktanz) Posted on February 11, 2014
Categories: FinovateEurope 2014, Plutus Software

This post is part of our live coverage of FinovateEurope 2014.

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)

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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FinovateEurope 2014: Live in London!

By David Penn Posted on February 10, 2014
Categories: FinovateEurope 2014

It’s rehearsal day here at Old Billingsgate Market Hall in London, and the whole Finovate team is here busily getting everything ready for another sold-out FinovateEurope.

FinovateEurope is the first big fintech event of 2014. And if you’re looking for insights into the kind of innovations people will be talking and writing about all year, then you’ve come to the right place.

From biometric authentication technologies for the security-conscious to mobile payments and PFM, this year’s event will help set the tone for another year of triumphs and surprises from a growing, international community of fintech entrepreneurs.

FinovateEurope Mobile and web app
And speaking of community, this year we’re using Bizzabo’s social networking app to help attendees make the kind of connections that make Finovate so unique. Within Bizzabo’s mobile app environment, attendees will be able to learn more about our presenting companies and our sponsors, review the show’s agenda and, most important, reach out and connect with each other.

You can download the Bizzabo app for both Android and iOS from their respective app stores (here for Android, here for iOS). You can also use the app on your desktop via this link. Once you’ve got the app downloaded and installed, just search for “Finovate” and you’ll be connected to the event.

Twitter

So whether you will be here in London, following us on our Twitter feed @Finovate, or reading along with our Live Blog at Finovate.com, we couldn’t be happier to have you join us. The show starts Tuesday morning at 9:00am London time, continues all day long, and starts again bright and early Wednesday morning – same fintech time, same fintech place.

For more information about FinovateEurope 2014, check out our preview page here. Get information on the event schedule, the venue, a list of presenters and more.

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

By Julie Muhn (@julieschicktanz) Posted on February 10, 2014
Categories: Birdback, Funding

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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B2B Currency Exchange Specialist Kantox Raises $9 Million in Series A Round

By David Penn Posted on February 10, 2014
Categories: Kantox

This time a year ago, Kantox was on stage at FinovateEurope, showing the world its peer-to-peer currency exchange for SMEs.

Today, the company is announcing its largest funding round to date: a Series A investment of €6.5 million (approximately $9 million). The round was led by Partech Ventures and IDinvest Partners, which joined previous investor, Cabiedes & Partners.

The new investment brings the company’s funding total to more than $12 million. Kantox plans to use the capital to help develop its peer-to-peer trading technology, as well as to expand the company’s presence in Europe. Philippe Gelis, Kantox CEO, said, “We are extremely excited to have secured this latest round of funding, and can’t wait to continue building out our sales teams in Germany, France, Spain, the UK and Italy.”

Kantox specializes in helping small and medium sized businesses access optimal foreign currency exchange rates. Kantox leverages its peer-to-peer technology to provide SMEs with a way to avoid costly (and often undisclosed) FX fees typically demanded by brokerage firms and banks.

“Large corporates enjoy access to really competitive rates while SMEs and mid-caps – who usually don’t have access to live rates or an in-house FX expert – are overcharged by a banking oligopoly which promotes opacity,” Gelis said.

A few Kantox metrics:

Serves more than 500 corporate clients
Anticipates processing more than 1 billion euros in transactions in 2014.
Provides ability to trade more than 25 international currencies
Saved more than 70% of its customers more than 80% compared to banks and brokerages

Kantox is one of a number of innovators in this P2P currency exchange space, competing alongside fellow Europeans (and Finovate alums) like CurrencyTransfer and TransferWise. The company is headquartered in the UK, and has offices in Barcelona, Spain.

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FinovateEurope 2014 is Sold Out!

By Eric Mattson Posted on February 9, 2014
Categories: Uncategorized

We’re very excited to announce that FinovateEurope 2014 is sold out and the wait list is growing quickly. The demand for our 4th annual event in London has been unprecedented and we believe yet another sign of how vibrant the European fintech industry has become.

On this Tuesday and Wednesday, almost 1,000 innovators will witness the future of fintech debut live at Old Billingsgate Market Hall in the heart of London.

Here is a small sample of the organizations that will be in attendance:

ABN Amro
ABN AMRO
Accel Partners
AIB Bank
American Express
AXA Bank
Balderton Capital
Banco Santander
Bank Julius Baer
Bank of America
Bank of East Asia
Bank of Ireland
Barclays
BNP Paribas
Bradesco Bank
Capgemini
Celent
comdirect bank
Cortal Consors
Credit Suisse
Datamonitor Financial
e-laCaixa
Ernst & Young
Erste Bank
Euromoney
Experian
FHB Bank
Fidelity Investments
Financial Technology Partners
Financial Times

Fiserv
Forbes
Forrester
Gartner
General Atlantic
Goldman Sachs
Google
HSBC
Index Ventures
ING DIRECT
Investec
Jyske Bank
KPMG
Lloyds
MasterCard
Mergermarket
Microsoft
Nationwide
OTP Bank
Ovum
PostFinance
Rabobank
RBKMoney
RBS
Riyadbank
Route 66 Ventures
Royal Bank of Scotland
S&P Capital IQ
Sberbank of Russia
SBT Venture Capital
Scottish Equity Partners

Silicon Valley Bank
SKAGEN Funds
SNS Bank
SocGen
Sparebanken
Standard Bank Group
Standard Life
Suncorp
Sutor Bank
Swedbank
SWIFT
Swisscom
T. Garanti Bankasi
TechCrunch
Techstars
The Bancorp
The Economist
The New York Times
The Wall Street Journal
Thomson Reuters
TSB Bank
UBS AG
Unicredit Bank
Velocity Capital
Visa
Volksbank Bühl
Wellington Partners
Western Union
Wonga.com
Yahoo Japan
And many more!

If you’re like to follow along with all the FinovateEurope innovations, our research team will be live blogging the conference at Finovate.com and you can also search for #finovate on twitter. If you’re interested in getting on the wait list for the event, please email us at europe@finovate.com.

Please note we’re also seeing strong demand for our FinovateSpring 2014 event in Silicon Valley in late April. If you’re interested in locking in your ability to attend that event, please register soon.

FinovateEurope 2014 is sponsored by: The Bancorp, Be Group, Financial Technology Partners, and Life.SREDA.

FinovateEurope 2014 is partners with: Aite Group, Bank Innovators Council, BankersHub, Celent, The Financial Services Club, FSIC, Hotwire PR, Level39, Mapa Research, SME Finance Forum, Visible Banking, & World Finance.

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