This post is part of our live coverage of FinovateEurope 2014.
The Currency Cloud took the stage to finish off the first day of FinovateEurope 2014:
"This release will provide our clients access to an easy-to-use web console. Cross-border transactions tend to be expensive and inefficient (i.e., error prone) as the majority are executed through some type of manual process. While a variety of alternative international payment providers claim to offer relief, their services have limitations that often leave companies encountering the same issues of high costs, inadequate automation and deceptive pricing. We think global businesses deserve better, and have developed an entirely new model for international payments."
Presenting Michael Laven (CEO) and Richard Bastin (CTO)
Product Launch: April 2014
Metrics:
• Current number of employees: 42
• Money raised: $8M as of December 2013 - next round imminent.
• Financial Data: transaction run rate is approximately $4B…
SQLI Launches Augmented Banking
This post is part of our live coverage of FinovateEurope 2014.
Next, SQLI launched Augmented Banking:
"Augmented Banking is a new take at Online Banking. It is aimed at positioning a Bank at the very center of people's digital lives.
The core concept behind Augmented Banking is to collect a massive amount of information about a user's digital life from multiple sources and to push it back to him as a visualization of his financial behavior."
Presenting Benjamin Thomas (Innovation Manager) and Mederic Morel (Head of Consulting Services)
Product Launch: February 2013 Metrics: 2,000 employees Product distribution strategy: Through financial institutions, licensed HQ: Saint Denis, France Founded: 1990 Website: sqli.com Twitter: @Groupe_SQLI
Product Launch: February 2013 Metrics: 2,000 employees Product distribution strategy: Through financial institutions, licensed HQ: Saint Denis, France Founded: 1990 Website: sqli.com Twitter: @Groupe_SQLI
Kensho Debuts Warren to Help Institutions Perform Quantitative Analyses
This post is part of our live coverage of FinovateEurope 2014.
Then, Kensho debuted Warren, its technology that aids institutions in quantitative research:
"Warren is a user friendly, interactive research environment that enables portfolio managers and researchers to quickly and easily perform sophisticated quantitative analyses in a fraction of the time spent by institutional research teams today.
Kensho designed Warren to shorten traditional investment research cycles from days to minutes. Warren can currently answer a million distinct types of natural language questions about the impact of global events on asset prices, such as, "What happens to the share prices of energy companies when oil trades above $100 a barrel and political unrest has recently occurred in the Middle East?" Warren will be able to answer 100 million distinct types of complex financial questions by the end of 2014."
Presenting Daniel Nadler (CEO) and Adam Broun (Head of Strategy &…
Encap Security’s Smarter Authentication Turns Personal Devices into Security Credentials
This post is part of our live coverage of FinovateEurope 2014.
From Oslo, Norway, Encap Security is next, demoing their software-based, authentication solution.
"Smarter Authentication is the world's only software-based, banking-grade, authentication technology that doesn't compromise between security, user experience and utility."Presenting Thomas Bostrøm Jørgensen (CEO) and Adam Dolby (VP Bus. Dev.)
Product Launch: November 1, 2012 Metrics: People - Based in Oslo and Palo Alto, Encap Security's management team has more than 60 years' experience and an unrivaled pedigree in authentication, identity management, mobile app security and mobile financial services. Finance - Following a recent funding round, the total investment in Encap Security stands at €4.8 million. Market Traction - Encap Security's solution is used by major financial institutions, enterprises and technology integrators including Santander Consumer Bank Norway, EnterCard and Sparebanken Vest. Encap Security's technology is approved by the Norweigian Banks' Standardisation Office and security experts Room66. Product…
Nostrum Launches its Virtual Collector, An Automated Lending Platform
This post is part of our live coverage of FinovateEurope 2014.
Then, Nostrum took the stage to debut its Virtual Collector:
"Nostrum's mission is to provide a fully automated lending platform, enabling lending to be performed cheaper, faster and safer.
Whilst innovation in certain sectors of the lending industry have addressed the auto approval of applications and now provide loan funds rapidly, no business has adequately considered how delinquency management activity can be redesigned to ease the customer experience and reduce the risk of compliance failure. The functionality demonstrated will replace the traditional call centre operator who manages in and outbound calls to customers to discuss their delinquent payments and either takes a payment or puts an arrangement in place."
Presenting Richard Carter (Chief Executive) and Tom Martin (Head of PMO)
Product Launch: February 2014 Metrics: Self funded, 65 employees, £7M+ revenues, 20+ customers Product distribution strategy…
Product Launch: February 2014 Metrics: Self funded, 65 employees, £7M+ revenues, 20+ customers Product distribution strategy…
Switchless’ Solution Helps Banks Enable Users to Buy, Sell, Save, and Spend Bitcoin
This post is part of our live coverage of FinovateEurope 2014.
Afterwards, Switchless launched its solution that helps financial institutions enable their users to buy, sell, save, and spend bitcoin:
"Our proprietary modular enterprise software allows for partial or full integration into existing financial infrastructures, giving financial institutions maximum flexibility for the unique and complex requirements they face. The following modules are currently available:
Broker: Allows end users to buy and sell Bitcoin using traditional currencies. Our broker algorithm searches for the best pricing globally and offers instant and reliable execution.
Vault: Allows end users to store their Bitcoin securely. Our state-of-the-art cold storage system makes use of multi-level security that substantially increases overall security whilst still delivering a frictionless end-user experience.
Merchant: Allows merchants to accept Bitcoin as payment for goods or services, guaranteeing conversion of Bitcoin to traditional currencies at competitive rates. Full integration also means that end…
Vaamo Debuts its Mobile-Optimised Goal Saving App
This post is part of our live coverage of FinovateEurope 2014.
Making their way to the stage now is the team from vaamo, demoing their goal saving app.
"Our web application is designed to provide private individuals with easy to use and intuitive access to savings and investments. A key differentiator is the focus on customer's personal financial goals instead of financial products, the strict limitation of available financial products to only one investment solution, as well as the mobile optimization. Customers can set up personal financial goals (e.g., retirement, new home), and define for each goal the amount they want to save by when, how much they want to save today and regularly, and which risk they are willing to take. Inputs are instantaneously illustrated using a chart that projects future contributions, performance, and risk, enabling customers to understand the impact of each input." Presenting Oliver Vins (Co-Founder…Five Degrees Launches Matrix, the Universal Bank in the Cloud
This post is part of our live coverage of FinovateEurope 2014.
Our next innovator is Five Degrees, showing how they have leveraged their core BPM universal banking solution to provide a suite of new services: "Matrix Accounts is a modern lean back office solution that manages product and admin specific data for the benefit of the mid and front office operations. Matrix Accounts is designed for existing banks, as well as banks of the next generation. With a focus on automation, flexibility, traceability and security, Matrix Accounts is the solution for lowering cost and enhancing agility in the banking environment. Matrix Accounts incorporates a highly flexible product builder to support the varying needs of different kinds of banks: retail, commercial and investment. Matrix Accounts comes with basic features, covering all standard needs of any bank." Presenting Bjorn Holmthorsson (Co-Founder & CTO) and Brian van Wachem (Chief Commercial Officer)…
Advanced Merchant Payments’ Small Business Lending Solution Bridges the Gap Between Retail Banking and Business Banking
This post is part of our live coverage of FinovateEurope 2014.
Advanced Merchant Payments started off the final session of the day with its small business lending solution:
"AMP's small business lending solution offers an efficient and scalable means by which banks can readily originate and manage a broad portfolio of small business loans. AMP solves the problem of "the missing middle": small businesses with one or more bank accounts for which neither consumer nor traditional SME loan products are suitable.
AMP's platform utilizes existing communication methods to bridge the divide between the Retail Banking and Business Banking activities of a bank - without the costs and difficulties inherent in formal bank system integration.
AMP can manage all or some stages of the loan process: from Qualification to Verification, Credit Scoring, Approval, Disbursement, Daily Repayment & Risk Monitoring, through to Completion."
Presenting Thomas DeLuca (CEO) and James Lloyd (Director of…
Feedzai Fraud Prevention Helps Make Omni-Channel eCommerce Safe
This post is part of our live coverage of FinovateEurope 2014.
Our final presenter of the first afternoon session is Feedzai. The team from San Mateo, California is making their way to the stage right now.
"Feedzai Fraud Prevention blocks payment fraud in real time - online, in store, mobile and wherever customers shop. Built with the latest Big Data technology, Feedzai Fraud Prevention works transparently to risk score every single checkout transaction in under 25 milliseconds. Machine-learning models reduce the false alarms that overload order review staff. Individual 1-1 behavioral profiling detects more fraud than possible before. White-box scoring techniques provide clear, human readable explanations to enable a rich customer experience." Presenting Nuno Sebastio (CEO) and Nuno Pires (VP Sales)Product Launch: September 2013 Metrics: $4.4 million raised, 40 employees, achieved profitability Product distribution strategy: Direct to Business (B2B), through financial institutions, through other fintech companies and…
The Moneyer Brings Collaboration and Social Networking to Personal Finance Management
This post is part of our live coverage of FinovateEurope 2014.
The team from The Moneyer is making its way to the stage right now.
"Finance is often a highly personal matter, but there are many cases thinkable where a person or organization needs to share financial info ration with others. The Moneyer offers the possibility to invite other users (member and non-member) on an existing financial dashboard. Thereby creating a collaborative workspace where groups of people can view and work with shared data." Presenting Erik Driessen (CEO) and Lior Bornshtain (CTO)Product Launch: November 2013 Metrics: €1.3 million invested; 10 employees Product distribution strategy: Direct to Consumer (B2C), through financial institutions, licensed HQ: Amsterdam, The Netherlands Founded: April 2011 Website: themoneyer.nl Twitter: @themoneyer
Top Image Systems Presents a Trio of Mobile Image Processing Solutions
This post is part of our live coverage of FinovateEurope 2014.
Making their way to the stage now is Top Image Systems with their mobile image processing solution suite:
"Top Image Systems has leveraged its deep recognition and imaging expertise to develop a powerful suite of image processing applications for mobile devices. These applications optimize user experience and minimize communication failures: MobiPay expedites mobile bill payment, letting users snap images to add payees and payment methods; MobiCHECK facilitates mobile remote deposit capture and MobiFLOW enables mobile processing of documents of any size and format. TIS' mobile image processing technologies combine APMI (Automatic Perfect Mobile Image) "auto-capture' functionality with IQA (Image Quality Analysis) and on-device intelligence on the handset." Presenting Isaac Rome (VP Mobile Solutions)Product Launch: March 2012 Product distribution strategy: Direct to Business (B2B), through financial institutions, through other fintech companies and platforms, licensed HQ: Ramat Gan, Israel Founded:…
