Dynamics’ Battery-Powered Cards Hit Japan

Payment technology company Dynamics announced today it has introduced its battery-powered, interactive debit and cash cards to the Japanese market. The move comes via a partnership with GMO Aozora Net Bank.

The Tokyo-based bank is a technology-focused bank aimed to help clients better manage their money. Offering the Dynamics card, which features a touch keypad and digital display, will further GMO Aozora Net Bank’s technology-first reputation.

The keypad and digital display work together to secure the card by requiring the user to enter a passcode to activate the card for use. If the passcode is correct, the card number appears in the display screen on the card. Using the keypad, the user selects whether they want the card to act as a debit or cash card. Once it is activated, they can swipe, tap, use the mag stripe, or contact/contactless EMV chip to make a payment at a traditional payment terminal; no special infrastructure is required.

In the press release, Dynamics CEO Jeffrey Mullen said, “Through this new card, we shall provide new convenience and security to the Japanese consumer, and together with GMO Aozora Net Bank we will deliver further value into the future.”

Headquartered in Pennsylvania, Dynamics maintains APAC headquarters in Singapore, LATAM headquarters in Brazil, and EMEA headquarters in New York. The company is partnered with financial institutions in Europe, the U.S., and Asia for card distribution. Dynamics also maintains a processing partnership with a major Canadian financial institution, and a mobile payment partnership with a major mobile handset carrier in Korea.

Dynamics has won Best of Show eight times since its first Finovate appearance in 2010. At its most recent demo at FinovateSpring 2018, the company showed off its Wallet Card, a network-approved payment card that uses Sprint’s wireless network and boasts a 65,000 pixel display that depicts all cardholder information.

Finovate Favorites: A Baker’s Dozen of Best of Show Winners

Which fintech companies have continued to impress Finovate audiences over the years? The return of Kasasa to FinovateSpring last month, winning its fourth Best of Show award in the process, got a few of us thinking that it was a good time to take a look at which companies have been selected as fan favorites most frequently after demoing their latest technologies live on stage.

We’ve highlighted companies that have been especially popular at certain conferences, such as FinovateAsia and FinovateSpring before. Here is our compendium of the top Best of Show vote-getters to date for all shows combined (minimum of three wins).

The Big Three

The three companies that have won the most Best of Show awards from Finovate audiences reflect three different themes in fintech over the years: the allure of social investing (eToro), the rise of data analytics in banking (MX, formerly Money Desktop), and the persistence of the payment card (Dynamics). What is especially impressive about all three companies in our Best of Show Big Three is their ability to innovate over time. Each alum won their first Best of Show award between 2010 and 2012 and won their most recent Best of Show award between 2016 and 2018.

Dynamics (8) Founded in 2007. Headquartered in Pittsburgh, Pennsylvania. Jeff Mullen is CEO.

MX / Money Desktop (6) Founded in 2010. Headquartered in Lehi, Utah. Ryan Caldwell is CEO.

eToro (6) Founded in 2007. Headquartered in Tel Aviv, Israel and London, U.K. Yoni Assia is CEO.

The Super Six

Of our Super Six – the six companies to have won Best of Show awards four times – what is most interesting is also the way many of them have been proven innovators over a time of major change in fintech. Companies like Kasasa (formerly BancVue) and Yodlee (now Envestnet | Yodlee) made their big splash back in the earliest days of Finovate and, with recent Best of Show wins in 2018 and 2017, respectively, shown that they are still among fintech’s most inspiring solution providers.

Backbase – 4

Kasasa / BancVue – 4

Meniga – 4

oFlows – 4

SaleMove – 4

Yodlee (including Envestnet | Yodlee) – 4

The Fantastic Four

Two of the companies in our Fantastic Four companies that have won Best of Show awards three times have since been acquired. LearnVest, a three-time Best of Show winner from 2011-2013, was acquired by Northwestern Mutual for more than $250 million in 2015. EyeVerify, which won Best of Show awards on three different continents, was acquired by Ant Financial in 2016. The company now operates as ZOLOZ, and is focused on providing digital identity solutions for the underbanked in Asia.

BehavioSec – 3

EyeVerify (now “ZOLOZ”) – 3

LearnVest – 3

mBank – 3

Note: FA: FinovateAsia, FE: FinovateEurope, FF: FinovateFall, FS: FinovateSpring. Audience favorite awards from FinDEVr not included.

Finovate Alums Take Top Honors at FinTech Breakthrough Awards

Dedicated to recognizing “the top companies and products in the financial services and technology industry today,” FinTech Breakthrough has announced its FinTech Breakthrough Award Winners for 2018. This marks the second year the independent organization has sponsored the fintech awards event, recognizing fintech startups and veterans from a wide variety of categories including payments, lending, investing, and regtech.

“The FinTech Breakthrough Awards serve as a testament to the passion, skill and vision of individuals and teams that are truly setting the standard for innovation in the global FinTech industry,” Managing Director for FinTech Breakthrough James Johnson said in 2017 during the Awards’ inaugural year. “We are thrilled to recognize all of the FinTech Breakthrough Award winners for their well-deserved industry recognition as they drive the global FinTech market forward.”

This year featured 20 Finovate alums earning top honors from FinTech Breakthrough. The names and Finovate demo dates for each winning alum – as well as the category they won – are featured below. For a complete list of 2018 FinTech Breakthrough Award Winners, visit the company’s awards announcement page.

Leadership

Consumer Lending

  • Innovation Award for Consumer Lending – Text for Credit by Experian (FF17)

Business Lending

Wealth Management

Payments

Investments

Consumer Banking

Financial Research and Data

Fraud Prevention and Transaction Security

This marks the second time both eMoney Advisor and ThreatMetrix have been honored by the FinTech Breakthrough Awards. Among last year’s winners were a significant number of Finovate alums including: Sindeo, BizFi, DriveWealth, Quovo, Jumio, Trulioo, Qumram, and Xero.

FinovateSpring 2018 Best of Show Winners Announced

The votes have been counted and the winners of our FinovateSpring 2018 Best of Show awards have been named. Congratulations to the five companies whose live demonstrations of their latest technologies wowed our attending crowd in Santa Clara, California this week.

Every Best of Show competition teaches us something about the state of fintech innovation in the world today. How are fintechs helping improve the customer experience in lending? How can financial institutions get a better understanding of their customers needs and preferences? How can we make it safer to bank and shop – to say nothing of simply communicate – safely online without fear of interference (or worse) from cybercriminals?

This year’s FinovateSpring 2018 Best of Show winners were no exception to this rule. The companies highlighted by our Best of Show awards reflect impressive innovations across the broad spectrum of financial technologies.

Conversation.one for its build-once-deploy-anywhere platform for conversational applications that enables FIs to build, deploy, and enhance their Alexa Skills, Google Home Actions, Facebook Messenger bots, and chatbots in one single process, in just a few minutes. Video.

Dynamics, Inc. for its network-approved “connected” payment card with a 65k pixel display, organic recharge, and telecommunications chip to facilitate wireless data downloads and customer notifications. Video.

 

 

Kasasa for its Kasasa Loan that lets borrowers pay ahead to reduce debt and take that extra money back if they need it. Kasasa Loans feature a mobile app that allows borrowers to manage their debt and access take-backs instantly. Video.

Trusona for its Trusona Executive solution that enables frictionless #NoPasswords multi-factor identity authentication at scale, including identity-proofing, step-up authentication using a person’s government-issued ID. Video.

Alpharank for its innovative Customer Graphs that leverage FIs’ anonymous transaction card data to help them understand how products and behaviors spread through customer networks and how to leverage network effects to their advantage. Video.

We hope you have enjoyed the first two days of FinovateSpring. The conversation continues on Thursday and Friday as we launch into deeper dives into many of the themes introduced on the first two days of our spring conference.

From the power of AI and Big Data to the rise of voice technologies as the interface of the future, the second half of FinovateSpring will help provide both context and insight into how many of the most exciting technologies of our time are creating ever more engaging, personalized, and relevant experiences for consumers of financial services. To learn more about the keynotes, panel discussions, and fireside chats we will host on Thursday and Friday, be sure to check out our FinovateSpring 2018 agenda for Days Three and Four for more information.


Notes on methodology:
1. Only audience members NOT associated with demoing companies were eligible to vote. Finovate employees did not vote.
2. Attendees were encouraged to note their favorites during each day. At the end of the last demo, they chose their three favorites.
3. The exact written instructions given to attendees: “Please rate (the companies) on the basis of demo quality and potential impact of the innovation demoed.”
4. The five companies appearing on the highest percentage of submitted ballots were named “Best of Show.”
5. Go here for a list of previous Best of Show winners through 2014. Best of Show winners from our 2015 through 2018 conferences are below:
FinovateEurope 2015
FinovateSpring 2015
FinovateFall 2015
FinovateEurope 2016
FinovateSpring 2016
FinovateFall 2016
FinovateAsia 2016
FinovateEurope 2017
FinovateSpring 2017
FinovateFall 2017
FinovateAsia 2017
FinovateMiddleEast 2018
FinovateEurope 2018

Finovate Alumni News

On Finovate.com

  • Finicity Announces Full Integration with BeSmartee.
  • $500 Million Secondary Investment Boosts Credit Karma’s Valuation to $4 Billion.

Around the web

  • Jack Henry’s banking division announces that seven banks will implement its Core Director core processing platform.
  • FlexTrade to integrate Kensho into its FlexTRADER EMS real-time event feed.
  • Finastra hires new Chief Product and Technology Officer, Eli Rosner.
  • iSignthis subsidiary, iSignthis eMoney, forges payment aggregation agreement with American Express Australia.
  • Best of Show winner Trusona joins ForgeRock’s identity management platform.
  • Gartner recognizes BRIDGEi2i with an Honorable Mention in the Magic Quadrant for Data and Analytics Service Providers, Worldwide.
  • Kabbage shows loan growth via the mobile channel, with 17% of all SMB loans and 15% of total dollars accessed via its platform coming through mobile.
  • Find Biometrics interviews Deepak Dutt, president and CEO of Zighra.
  • Payfone on track to authenticate 19 billion transactions for Fortune 100 clients in 2018.
  • Fort Dodge Family Credit Union to implement Larky Engagement Platform.

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.

Finovate Alumni News

On Finovate.com

  • Signifyd Partners with Corra to Provide Guaranteed Fraud Protection for E-Commerce Merchants.

Around the web

  • Estonian financial group LHV to leverage technology from FICO to fight money laundering.
  • Klarna announces double-digit sales growth thanks to more retailers using the company’s solutions.
  • CNBC quotes MaxMyInterest head of business development and partnerships Michael Halloran on cash strategies for investors during times of market volatility.
  • Dynamics unveils enhanced functionality for its connected Wallet Card. See its latest demo at FinovateEurope next week.
  • TSYS Extends Existing Agreement with Capital One UK.
  • Mastercard to use Facebook Messenger to help small businesses in Africa and Asia drive mobile and electronic payments acceptance.
  • Worldline teams with Total to launch TOTAL eWallet.
  • FutureTech Podcast hosts Capitalise CEO Shahar Rabin on using natural language to automate trading strategies.
  • NopSec Awarded Most Innovative Cybersecurity Company 2018.

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.

Dynamics Leverages Sprint’s Wireless Network for New IoT Connected Card

Next-generation payment card company Dynamics announced this week it has teamed up with Sprint, a subsidiary of SoftBank, to launch the Wallet Card, a battery-powered, connected payment card.

The Wallet Card, Dynamics’ first IoT-powered card, will leverage Sprint’s network for wireless data transfers. The card, which is around the same size and shape as a normal credit card, contains almost 200 internal components. Users can access debit, credit, pre-paid, multi-currency, one-time use, and loyalty cards from a single card.

Sprint, which is powering the IoT technology behind the card, is helping Dynamics differentiate this card from the company’s previous offerings. Specifically, the new Wallet Card contains:

  • Cell phone chip and cell phone antenna for data transfer
  • Battery and recharging chip– the card charges itself through normal operation.
  • Re-writable magnetic stripe, EMV chip, and contactless chip that allows users to download new card information to the card.
  • 65,000 pixel display and UI that enables cardholders to select different cards and informational screens.

With these new capabilities, card issuers can immediately rescind compromised card numbers and re-issue a new card number in real time.

The Wallet Card, which was debuted at the CES tradeshow in Las Vegas, received four CES Innovation awards, including the Best of Innovation Award for Security Technologies. It was an honoree for Computers, Embedded Technologies and Technologies for a Better World. “This is just the beginning,” said Jeff Mullen, CEO of Dynamics,”Wallet Card is poised to redefine the way consumers and businesses think of credit cards and enable a close, more secure connection.”

Jan Geldmacher, president of Sprint Business said that the Wallet Card is an example of “how important converged networks and advanced integrated technology will be for the lives of everyday people across the globe.”

Also today, Dynamics announced it has teamed with India-based IndusInd Bank who will bring Dynamics’ multi-account, powered card– a product the company debuted in 2010– to the Indian market.

Founded in 2007, Dynamics most recently presented at FinovateFall 2017. The company, which has raised over $110 million in funding from investors including Mastercard, CIBC, Adams Capital Management, and Bain Capital Ventures, is headquartered in Pittsburgh, Pennsylvania, with office locations in Singapore, Sao Paulo, and New York.

Finovate Alumni News

On Finovate.com

  • Dynamics Leverages Sprint’s Wireless Network for New IoT Connected Card.
  • Kyckr Lands Global Payment Provider Client.

Around the web

  • Taulia announces milestone, accelerating $1 billion in invoices in a single day.
  • Klarna extends partnership with ACI Worldwide, now reaching 10 major markets including the U.S. and U.K.
  • Marquette Bank ($1.6 billion in assets) builds on existing relationship with Baker Hill by adding risk management, loan origination and other solutions.
  • Datanami highlights Narrative Science’s natural language processing tech.
  • Disruptor Daily names eToro, Motif, Kapitall among 9 companies to watch in 2018.

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.

The Faves of FinovateAsia: A Brief History of Best of Show Winners

With FinovateAsia less than one week away, it’s worth noting that the history of our Asian conference is a short, but illustrative one. Consider this: of the twelve companies awarded Best of Show from our three FinovateAsia conferences in 2012, 2013, and 2016, more than half are multiple-time Best of Show winners, having impressed audiences in London, Silicon Valley, and New York City, as well as Singapore and Hong Kong. And three of the companies have also been the targets of major acquisitions: IND Group by MisysEyeVerify by Ant Financial, and Yodlee by Envestnet.

So, other than winning multiple Best of Show awards and being acquired by major players in finance and technology, what have the Best of Show winners of FinovateAsia from last year been up to in the time since? See for yourself below.

FinovateAsia 2016Best of Show

Alpha Payments Cloud (demo)

The biggest news for Alpha Payments Cloud since winning Best of Show at FinovateAsia 2016 is likely the company’s comprehensive rebranding as Alpha Fintech in September. The move was designed to affirm the company’s status as “fintech’s first end-to-end middleware,” using a single API and UI to connect merchants and vendor suppliers across “the entire payments, risk, and commerce spectrum.”

Oliver Rajic, Alpha Fintech CEO added “Now with Alpha, (acquirers and gateways) can evolve to enable the right vendor combination for each unique requirement … thereby extending and enhancing their core solution subset.” Alpha Fintech has already made its first agreement under the new rebrand, teaming up with Payture, a major payment gateway in the CIS region. “Among the early adopters of the Alpha Fintech /Payture integration are businesses in Russia’s e-travel consumer market, which the company says is one of the largest segments of Russia’s e-commerce market.

Dynamics (demo)

Multiple-time Best of Show winner Dynamics announced a partnership with LG Electronics earlier this year. The agreement would put Dynamic’s Wireless Magnetic Communication (WMC) technology in LG Pay. The integration will enable LG mobile phones to transmit traditional magnetic stripe information wirelessly to traditional magnetic stripe readers.

“Dynamics has been building wireless magnetic communication solutions for nearly a decade and is widely considered the founder of the programmable magnetic stripe industry,” Dynamics CEO Jeff Mullen said. “Dynamics’ best-in-breed technology will help LG Pay reach hundreds of millions of new payment environments.”

EyeVerify (demo)

Acquired by Ant Financial Services Group just months before making its Best of Show-winning demonstration at FinovateAsia 2016, EyeVerify has hardly rested on its laurels. This summer, for example, the company partnered with fellow Finovate alum Daon, adding Eyeprint ID to Daon’s IdentityX platform. But the biggest headlines from this multiple Best of Show winning company have to do with their rebrand as ZOLOZ back in August.

“When I announced almost a year ago that Ant Financial acquired EyeVerify, I said we want to do more,” company founder and CEO Toby Rush wrote at the company blog. “Today we publicly commit to providing a hosted identity platform that helps people manage their digital lives.” Rush described an initiative to bring identity services to the underserved and underbanked consumers of Asia, with plans to ultimately bring hosted identity solutions to markets in North America and Europe.

Finn.ai (demo)

With two Best of Show awards in two Finovate appearances, intelligent banking assistant developer Finn.ai must be doing something right. Finn.ai earned a spot in Payment Canada’s pitch competition, Dragon’s Den, and was recognized over the summer by Capegemini’s global InnovatorsRace and at the VivaTech conference in Paris, France. Finn. ai also announced a few days ago that ATB Financial would use Finn.ai’s technology to offer its 700,000 customers the first, fully-featured, AI-powered virtual banking assistant on Facebook Messenger.

But in addition to making friends and influencing people, Finn.ai is raising capital, as well. The company raked in $3 million in new funding in October, and plans to use the financing to help add technical talent to its team, as well as support the company’s expansion in the U.S. and around the world. Banking industry veteran, Carrie Russell, who will join Finn.ai as Strategic Executive Adviser, noted the importance in helping banks “move beyond transactional banking to build deeper, more personal relationships with customers.” Russell added “I believe Finn.ai is the right partner to do this, acting as a proactive virtual assistant to help customers understand, plan and take action to improve their financial lives.”

The rest of our FinovateAsia Best of Show winners are listed below:

FinovateAsia 2013Best of Show

FinovateAsia 2012Best of Show

FinovateAsia 2016 “Best of Show” Winners Announced

 

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The votes are in and the Best of Show winners of FinovateAsia 2016 have been announced. Thanks to all 36 companies that demoed in Hong Kong this week and a hearty congratulations to the four audience favorites.

The winners are as diverse as the financial technologies they represent. Whether providing merchants with a broader range of payment options via the cloud, or extending the boundaries of what a piece of plastic can do to make commerce better for consumers and card issuers alike, the Best of Show winners reflect an industry that is as interested in making positive incremental change as it is in dazzling us with the latest innovations in biometric authentication and chatbot technology.

Here are the Best of Show winners of FinovateAsia 2016 (in alphabetical order):

AlphaPaymentsCloudLogoAlpha Payments Cloud for its new joint venture with Australia Post that will bring a variety of innovative payment options to online merchants in Australia.

 

DynamicsLogoDynamics for its continued re-invention of the payment card to make multicurrency transactions easier and more efficient for cardholders and merchants, while at the same time delivering significant savings to issuing banks.

 

eyeverify-hi-res-copyEyeVerify whose innovations in biometric authentication technology are a part of the company’s larger initiative to develop a global identity management platform that provides better security for businesses and consumers.

FinnLogoFinn.ai for its white-label, virtual banking assistant that uses natural conversational language to help consumers manage their finances wherever they are.

 

We want to thank everyone who helped make Finovate’s debut in Hong Kong such a big success. From our presenters, sponsors, and partners to our attendees and the hundreds of fintech fans following the conference via our Live Twitter feed @finovate, it is your dedication to and appreciate of financial technology that makes all the hard work possible and so worthwhile. We’ll see you next year!


Notes on methodology:
1. Only audience members NOT associated with demoing companies were eligible to vote. Finovate employees did not vote.
2. Attendees were encouraged to note their favorites during each day. At the end of the last demo, each chose their three favorites.
3. The exact written instructions given to attendees: “Please rate (the companies) on the basis of demo quality and potential impact of the innovation demoed.”
4. The four companies appearing on the highest percentage of submitted ballots were named “Best of Show.”
5. Go here for a list of previous Best of Show winners through 2014. Best of Show winners from our 2015 and 2016 conferences are below:
FinovateEurope 2015
FinovateSpring 2015
FinovateFall 2015
FinovateEurope 2016
FinovateSpring 2016
FinovateFall 2016