This post is part of our live coverage of FinovateFall 2013.
As we move toward the end of our first post-lunch session, Financial Guard is making its way to the stage. "Financial Guard will make investing simple and transparent for the individual investor saving for retirement. Through technology, an investor can quickly receive a holistic view of their entire investment portfolio(s) and receive actionable recommendations based on their investor profile on how to optimize. Financial Guard's action plan provides an easy to understand "Grade" on both the individual investments and overall portfolio and clearly tells the investor what to Buy, Sell, and Hold within their accounts. We then continue to monitor an investor's portfolio and regularly alert and advise when changes and rebalances need to occur." Product Launch: Summer 2013 Product distribution strategy: Direct to Consumer (B2C) & Direct to Business (B2B) HQ: Salt Lake City, Utah Founded: January 2010 …Biometric Signature ID Presents its Software Only Biometric ID Verification Solution
This post is a part of our live coverage of FinovateFall 2013.
Biometric Signature ID is making its way to the stage right now -- "BioSig-ID complies with the new gold standard - multi-factor authentication. BioSig-ID requires NO additional hardware, and measures the unique biometric patterns of a user as they 'draw' their password to log in. A user is authenticated against a stored pattern from enrollment and after identity is confirmed, access to the device, files, or accounts is granted." Product Launch: March 2011 Metrics: $2.5 raised to date (28 founder, friends, & staff, a 2010-2011 $550,000 investment from State of Texas & $500,000 from Mohegan Biometrics in 2012), $500,000+ in revenues; nearly 1M registered users in more than 53 countries and all 50 states in the U.S., 50+ clients, & 7 employees (including consultants) Product distribution strategy: Direct to Business (B2B) & through financial institutions HQ: Lewisville, Texas …
Fiserv Debuts Popmoney Instant Payments
This post is part of our live coverage of FinovateFall 2013.
Next, Fiserv stepped up to demo how it can help financial institutions provide a real-time payments solution to their clients:
"Financial institutions are challenged to meet the ticking clock of consumer expectations for a real‐time payments experience. The Popmoney personal payment service from Fiserv fulfills that need with Instant Payments, a new value-added feature offering real-time delivery of funds.
Popmoney lets people send, request, and receive money using an email address or mobile phone number. Traditionally, Popmoney has only been able to deliver payments via the ACH network, which works great for most payments. Funds settle in 1 to 3 business days.
The Instant Payments feature, which is now available for financial institutions, uses the debit card networks to deliver funds in real-time - 24/7, 365 days a year. Recipients have access to funds literally in seconds."
Product…
BehavioSec Uses Policy-Based Behavior to Authenticate Users
This post is part of our live coverage of FinovateFall 2013.
Next, BehavioSec demoed its user-friendly authentication technology:
"BehavioSec has spotted the gap between user-friendly adaptive user authentication via risk-based authentication, or behaviour biometrics, and the reality of legacy systems at our current customers.
BehavioSec extended its award winning BehavioWeb and BehavioMobile solutions to offer policy-based behaviour authentication actions.
This allows the web fraud detection system to define cause and effect authentication, removing the burden of troublesome security from the end user."
Product Launch: September 2013
Metrics: 1.5M€, 10 employees, university spin out
The full demo video will be available at finovate.com in mid-September.
Product distribution strategy: Through financial institutions, through other fintech companies and platforms, & licensed.
HQ: Stockholm, Sweden Founded: May 2009 Website: behaviosec.com Twitter: @behaviosec Presenting Neil Costigan (CEO)The full demo video will be available at finovate.com in mid-September.
QuarterSpot’s Underwriting Platform Offers Small Businesses Lower Cost of Capital
This post is part of our live coverage of FinovateFall 2013.
Next, QuarterSpot showcased its unique underwriting platform:
"QuarterSpot's innovative Artificial Intelligence-driven underwriting platform can incorporate millions of pieces of real time data from business bank accounts, business credit profiles and more to execute a pre-approval decision in milliseconds. The QuarterSpot AI is also able to learn on the fly by monitoring loan repayment and trends to improve its scoring and approval terms in real time.
Through this use of AI-driven underwriting and as one of the only online lenders to amortize interest, QuarterSpot offers small business owners a cost of capital as much as 85% lower than other lenders and does not require personal collateral to secure loans."
Product distribution strategy: Direct to Business (B2B)
HQ: Wayne, NJ
Founded: April 2011
Website: quarterspot.com
Presenting Adam Cohen (CEO) and Lance Emanuel (President & COO)
The full…
Mitek Debuts Mobile Photo Account Opening
This post is part of our live coverage of FinovateFall 2013.
Then, Mitek showcased its Mobile Photo Account Opening solution:
"Mitek's new Mobile Photo Account Opening solution enables financial institutions to take advantage of mobile for customer acquisition by reducing the friction for users with mobile imaging. The engaging user experience will attract digital natives and mobile first then retain them throughout their financial life.
The user simply takes photos of personal and financial documents instead of entering information on a device keypad. This greatly reduces the time and effort required by the user to open and fund an account on a mobile device. Mitek's Mobile Photo Account Opening provides flexible deployment options and seamlessly integrates with FIs' existing account origination and identity verification providers."
Product Launch: Q4 2013
Metrics: Mitek (MITK) is publicly traded on NASDAQ
Product distribution strategy: Direct to Business (B2B)
HQ: San…
Online Payments Startup Spreedly Introduces its Credit Card Vault in the Cloud
This post is part of our live coverage of FinovateFall 2013.
Spreedly is our next presenter. They are making their way to the stage right now to debut their "credit card vault in the cloud." "In the world of online payments much is made of the fees that are charged by payment gateway providers. Very little is known about the relative performance of payment gateways. Lost transactions based on time outs/false declines/overly aggressive fraud filters can cripple a business. Spreedly sits at a unique juncture where we can share what we see across a range of gateways." Product Launch: September 2013 Metrics: Raised $420,000 in seed funding, 5 employees, 100 paying customers, & 30% month over month transaction growth Product distribution strategy: Direct to Business (B2B) HQ: Durham, North Carolina Founded: January 2008 Website: spreedly.com Twitter: @spreedly Presenting Justin Benson (CEO)The full demo video will be available at Finovate.com…
Simple Verity Launches Automated Small Business Credit Verification Process
This post is part of our live coverage of FinovateFall 2013.
Then, Simple Verity launched its credit verification process for small businesses:
"Simple Verity is a fully automated small business credit verification process. The system can produce a reliable credit report on any small business in America - including the millions of businesses with little or no data on file at the major bureaus.
Using a social approach and proprietary analytics, SimpleVerity elevates small business credit from uncertainty and risk into the light of consistent, data-driven analysis."
Product Launch: September 2013
Metrics: 1000 business references in private beta, $250,000 raised, 3 employees
Product distribution strategy: Direct to Business (B2B), through financial institutions, & through other fintech companies and platforms
HQ: Seattle, WA
Founded: June 2012
Website: simpleverity.com
Twitter: @simpleverity
Presenting Randall Lucas (CEO & Co-Founder) and Jeff Pecor (Marketing)
The full demo video…
Innovation Agency Launches Innovation Café, a Platform to Engage Innovation Communities
This post is part of our live coverage of FinovateFall 2013.
Then, Innovation Agency demonstrated its platform that facilitates collaboration around ideas and innovation:
"Innovation Café is an advanced crowdsourcing innovation platform for companies to engage their innovation communities. It is highly configurable and is able to provide for both private and public ecologies as well as emergent and structured innovation approaches. Innovation Café is a lightweight platform with advanced white labeling and custom theme capabilities and the ability to integrate with SharePoint, HR and other systems to provide detailed reporting. It is able to deal with a high volume of users and ideas and has a sophisticated social ranking and rating mechanism.
Crowdsourcing and community collaboration pay attention to business objectives that are focused through idea challenges. Social Media Integration and Social Network Analysis releases are our primary focuses at FinovateFall. These innovations provide a comprehensive mechanism to…
Socure’s Social Biometrics Provides Real-Time Protection Against Fraudsters and Bots
Our next presenter is Socure. The company specializes in real-time, online identity verification solutions.
"Socure's Social Biometrics utilizes a patent pending artificial intelligence system and proprietary machine learning algorithms along with social behavior pattern analysis to detect if an online ID is authentic, a fraudster or a bot. Socure's Social Biometrics solution showcases its ability to capture non-authentic (fake) online identities as a way to guard against identity theft and account takeover fraud. Our demonstration also shows the ability to de-risk each side of a peer-to-peer payment." Product Launch: August 2013 Metrics: $1.6M raised & 12 employees Product distribution strategy: Socure is partnering with industry leading MSPs, social sign-on providers, and traditional identity databases to leverage their existing distribution channels. Socure is also selling into businesses directly with an internal sales team. HQ: New York City, New York Founded: August 2012 Website: socure.com …mBank and Accenture Present Their Redesigned, Bank 3.0 Online Platform
This post is part of our live coverage of FinovateFall 2013.
Next to the stage is a demo from mBank and Accenture, working together to present their next generation, online banking platform. "mBank is the first established European bank to undergo a comprehensive, mass-scale, 'Bank 3.0' revolution of its direct channels by introducing re-designed Internet and mobile banking fully leveraging modern technologies to deliver state of the art, end-to-end, customer experience and unparalleled sales effectiveness for the bank. New online banking platform includes modern UI/UX, PFM, video banking, real-time marketing, social channels, and gamification." Product Launched: June 2013 Metrics: (mBank) ~6,000 FTEs & 4.1M customers in Poland, Czech Republic & Slovakia; (Accenture) 266,000 FTEs operating in 120+ countries, net revenues of $27.9B USD Product distribution strategy: Direct to Consumer (B2C) & Direct to Business (B2B) HQ: Lodz, Poland (mBank) & Warsaw, Poland (Accenture) Founded: November 2000 (mBank) & 1950…
Jumio’s Netverify Now Enables MultiDocument Validation and Facial Recognition
This post is part of our live coverage of FinovateFall 2013.
Next, Jumio debuted enhancements to its Netverify solution:
"Our solutions have already launched with continued iterations resulting from ongoing customer feedback. Enhancements to Netverify including facial recognition, multi-document validation, and other features to further fit specific business needs and use cases will be showcased at FinovateFall 2013."
Product Launch: 2012
Metrics: Over 100 customers & growing
Product distribution strategy: Direct to Business (B2B)
HQ: Palo Alto, CA
Founded: 2010
Website: jumio.com
Twitter: @jumio
Presenting Mike Orlando (CSO) and Emilio Disanluciano (Sr. Business Development)
The full demo video will be available at finovate.com in mid-September.
The full demo video will be available at finovate.com in mid-September.
