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 Alumni News


  • PayPal Acquires Simility for $120 Million.
  • Finovate Favorites: A Baker’s Dozen of Best of Show Winners.
  • Touché, OCBC Bank Bring Fingerprint Authentication to In-Person Commerce.
  • P2Binvestor Earns $17+ Million in Funding.
  • Veridium Earns $150,000 Grant.
  • Newchip Lands $2 Million in Seed Funding.

Around the web

  • Experian secures FCA accreditation to supply Open Banking and PSD2 services.
  • Finn AI is the latest fintech to join Temenos Marketplace.
  • CFSI names financial health leaders: Envestnet | Yodlee, Finicity, Handle Financial, Lendstreet, Lend Up, Lending Club, Moven, and Simple.

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


  • BILLSHARK and Payrailz Team Up to Help Consumers Save on Monthly Bills.
  • Hyperwallet Sells to PayPal for $400 Million.
  • SmartAsset Scoops Up $28 Million in New Funding.

Around the web

  • Pindrop launches new risk-based authentication solution for call centers, Pindrop Express.
  • NCR and Tata Consultancy Services (TCS) announce strategic alliance.
  • PayPal acquires Hyperwallet for $400 million in cash.
  • Hancock Whitney Bank picks Envestnet platform to support its broker-deal and trust businesses.
  • U.S. Bank partners with FutureAdvisor to develop Automated Investor, a digital wealth management tool.
  • doxo honored as Gold Stevie Award Winner in 2018 American Business Awards.

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.

Envestnet | Yodlee’s AI FinCheck Takes Financial Wellness to a New Level

Data aggregation and analytics firm Envestnet | Yodlee bolstered its PFM capabilities this week with the launch of AI FinCheck.

The AI-powered financial wellness solution leverages consumers’ transaction data, AI, and machine learning to monitor users’ financial health and offer actionable financial guidance tailored to their circumstances. AI FinCheck, along with the company’s OK to Spend feature that offers forward-looking cash flow balance information, are offered as part of Envestnet | Yodlee’s financial wellness suite.

Vice President of Product Applications at Envestnet | Yodlee Katy Gibson said, “By expanding our Financial Wellness Solution to include the new AI FinCheck application, financial service providers can provide their consumers with a personalized virtual financial wellness assistant which delivers actionable insights to help improve their financial health.” She added that because the tool uses real-time data, it can help consumers make informed financial decisions.

For each user AI FinCheck offers automated, personalized financial health insights across users’ spending, saving, borrowing and planning habits. To keep users continuously engaged, the tool offers interactive insights on their preferred channel. This not only helps them improve their financial situation but also improves their relationship with the brand. Some of the features of AI FinCheck include:

  • Provides personalized guidance alongside education
  • Leverages actionable data to deepen customer relationships
  • Enhances Next Best Offer (NBO) strategies
  • Provides contextual recommendations and actionable next steps
  • Makes it easy to deliver a virtual financial wellness assistant quickly and cost-effectively

Other tools in Envestnet | Yodlee’s financial wellness suite include FastLink, which allows users to link external financial accounts and see all of their financial information in one place; Save for a Goal, which helps users set, achieve, and fund their financial goals; and Cash Flow Analysis, which allows users to view historic cashflow data and see forecasted flows for each month.

Envestnet | Yodlee recently demoed its Financial Health Check at FinovateFall last year in New York. At the start of this year, the company finalized its acquisition of wealthtech solutions company FolioDynamix. Last month, Envestnet | Yodlee teamed with Quovo and Morningstar to support open data access for consumers. Envestnet was founded in 1999 and acquired Yodlee in 2015 for $660 million. Envestnet | Yodlee is a public company listed on NYSE under the ticker ENV. It has a market cap of $2.52 billion.

Finovate Alumni News


  • Envestnet | Yodlee’s AI FinCheck Takes Financial Wellness to a New Level.
  • Blockbid Partners with LexisNexis Risk Solutions and ThreatMetrix.
  • Ignite Sales and FIS Team Up on Digital Engagement.

Around the web

  • Revolut goes live in Russia courtesy of partnership with QIWI.
  • Clinc brings its conversational AI technology to Turkey’s Isbank.
  • BBVA teams up with IPsoft to enhance service at its call centers in Mexico.
  • interviews BlueVine CEO Eyal Lifshitz on the “real value of invoice factoring.”
  • CFO Tech Outlook names Urban FT a top ten fintech solution provider.
  • NF Innova powering omnichannel banking for Halkbank ad Skopje.
  • Geezeo issues fully-fledged launch of Responsive Tiles PFM feature.

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

  • Pindrop Security Partners with Bank of the West.
  • InComm Acquires Gift Card Impressions.
  • Trustly Brings New Payment Options to Alpha Fintech’s AlphaHub Platform.

Around the world

  • Algomi hires Scott Eaton, former EMEA COO at MarketAxess, as its new CEO.
  • Envestnet | Yodlee launches AI FinCheck. an AI-powered financial wellness assistant for financial service professionals.
  • FICO and Equifax partner to launch FICO Risk and Affordability Decision Suite powered by Equifax to help banks measure repayment risk.
  • Dashlane integrates with new Apple Security API rolling out in iOS 12.
  • WSJ features Coinbase’s move into Japan.
  • LendKey names Lewis Goldman Chief Marketing Officer.
  • VyStar CU leverages technology from Fiserv to power its mobile banking app.

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.

Envestnet | Yodlee, Quovo, and Morningstar Unite On Secure Open Data Access Framework

For those who believe the benefits of GDPR and open banking-like policies can be achieved in the U.S. without the intervention of government regulation, the announcement that Envestnet | Yodlee, Quovo, and Morningstar have formed a joint initiative to support secure, open data access for consumers is welcome news, indeed.

“Through our involvement in existing industry groups focused on data access standards, we have noticed that consumers are not always as top-of-mind as they should be,” said Anil Arora, CEO of Envestnet | Yodlee. “The principles released today reiterate our belief that it is the consumer’s right to both access their data and permit it to be references through trusted third-party tools and applications, and that this consumer-permissioned access should not be limited or restricted.”

The Secure Open Data Access (SODA) framework is designed to promote transparency and accountability within the financial services ecosystem, and features four primary tenets:

  • Consumers must be able to access their financial account data for the purposes of using any legitimate application
  • Consumers must provide affirmative consent on the basis of clear and conspicuous disclosure regarding the use of their data
  • All entities who handle consumer account information must adhere to best practices for security standards and implement traceability and transparency
  • The entity responsible for a consumer’s financial loss must make the consumer whole. All stakeholders in the ecosystem have shared responsibility – this will start with traceability in the United States and move towards shared responsibility just like Europe.

Calling data sharing “a critical drive of innovation within financial services,” Quovo CEO Lowell Putnam added, “as custodians of financial data, we all have a duty to ensure that consumers are empowered to access their data safely, securely, and with full transparency into how it is being used. Our joint framework provides direction for the industry on how to fulfill this responsibility.”

The initiative’s full statement of joint principles for consumers, financial institutions, aggregators, and policymakers was published at the Envestnet | Yodlee blog.

A leading provider of intelligent systems for wealth management and financial wellness, Envestnet acquired Best of Show-winning financial data aggregation and analytics platform Yodlee in 2015 for $660 million. Together, Envestnet | Yodlee unveiled a single API solution to support PSD2 and open banking compliance earlier this year and forged partnerships with open banking innovators like fellow Finovate alum Token. Envestnet |Yodlee demonstrated its Financial Health Check solution at FinovateFall 2017, winning Best of Show honors.

Quovo participated in our developers conference, FinDEVr New York 2017, in partnership with SoFi. The data platform presented “How Quovo and SoFi Perfected Bank Authentication” at the event, explaining how its Authentication API for SoFi provided secure authentication of financial accounts while removing friction from the customer journey. Founded in 2010, Quovo is headquartered in New York City.

Finovate Alumni News


  • Envestnet | Yodlee, Quovo, and Morningstar Unite on Secure Open Data Access Framework.

Around the web

  • nCino extends its Bank Operating System with its new Retail Sales and Service Solution.
  • Fenergo to bring client lifestyle management services to business and technology consultancy, Delta Capita.
  • ProfitStars division of Jack Henry & Associates goes live with its ImageCenter Express image capture solution.
  • Flywire adds international invoicing to its global payment and receivables platform.
  • Infosys Finacle partners with seven major Indian banks to form blockchain-based trade network, India Trade Connect.

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.

Envestnet | Yodlee Unveils Single API Solution to Support PSD2, Open Banking Compliance

Are you looking for a single API solution to make it easier to comply with the U.K.’s PSD2 and Open Banking API specifications for account information services? If so, Envestnet | Yodlee has got your back.

“We are proud to be a leading data aggregator to support the Open Banking movement, a truly revolutionary development that represents the wave of the future for global financial services markets around the world,” VP of International Markets at Envestnet | Yodlee Mark Herlihy said. “We have always been an advocate for innovative financial services that adhere to the highest standards of data security,” he added. “Now we are able to further this mission by enabling developers to easily integrate bank data at scale in compliance with the Open Banking API protocol.”

The new solution is a result of close collaboration between the company, PSD2 stakeholders, and the Open Banking Implementation Entity. Envestnet | Yodlee has developed and built a robust consent architecture that enables developers to rely on a single API that “encapsulates the consent for account access requirements” necessary to fulfill PSD2.

Developers using the API will be able to avoid having to work with multiple APIs, differing data formats, as well as user credentials. Financial institutions, fintechs, and individual consumers stand to benefit from greater access to financial innovation, while protecting consumer data and securing data acquisition by third party financial service providers and fintechs.

Envestnet | Yodlee’s new API comes just a few months after the company announced a strategic partnership with open banking platform provider and fellow Finovate alum Token. Steve Kirsch, founder and CEO of Token, said at the time: “When it comes to PSD2, developers are not going to support hundreds of unique bank APIs; they will only write to one common API, maybe two.” He explained that banks that decide to go on their own with proprietary APIs in this environment stand to lose big when it comes to “deliver(ing) the variety and freedom that customers expect in the digital age.”

Founded in 1999, Envestnet | Yodlee demonstrated its Financial Health Check solution at FinovateFall 2017, winning Best of Show. The company finalized its $195-million acquisition of wealth tech solutions company, FolioDynamix, earlier this month. Last fall, Envestnet | Yodlee integrated its risk insight solutions with Fannie Mae’s Desktop Underwriter validate service. Envestnet | Yodlee launched its expanded data analytics portfolio for wealth managers in May and a suite of risk reporting tools in March. The company also participated in our developer’s conference in 2016, presenting Fast Track API Integration with Envestnet | Yodlee at FinDEVr Silicon Valley.

With a market capitalization of $2.4 billion, Envestnet | Yodlee trades on the New York Stock Exchange under the ticker, ENV. Judson Bergman is chairman and CEO.

Finovate Alumni News


  • Revolut Adds Travel Insurance to its Insurtech Offerings.
  • Going Beyond the Demos this Year
  • Envestnet | Yodlee Unveils Single API Solution to Support PSD2, Open Banking Compliance.
  • Upserve Bolsters Online Ordering Features

Around the web

  • Expensify celebrates 10 years of expense reports.
  • Handelsblatt features Kreditech (article in German).
  • Kinetica and UClick push solutions to South Korea.
  • NCR to power prototype branch for UnionBank of the Philippines
  • Bluefin partners with AvantCom Payments Corporation (APC) to provide PCI-Validated P2PE to Oracle clients.
  • Worldpay expands payment processing into Turkey with iyzico.
  • VietinBank announces migration of debit card transactions to Compass Plus’ TranzWare system.
  • Barbican Insurance Group teams up with FICO to better measure the cybersecurity risk of the insured.
  • Cloud Lending Solutions unveils Xcelerate Software Implementation Program.
  • Panalpina World Transport chooses Tradeshift to support digitization of its procure-to-pay process.
  • Ripple joins sharing economy startup Omni’s $25 million fundraising with an investment of XRP.
  • Overbond wins Most Innovative Third-Party Technology Vendor (Front Office) category at American Financial Technology Awards.

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.

Envestnet Finalizes Acquisition of FolioDynamix for $195 Million

Wealth management intelligence solutions company Envestnet has finalized its acquisition of Actua Corp’s FolioDynamix, a wealth tech solutions company, this week.

The deal, which was first announced in September of last year, was closed for $195 million. The acquisition is expected to add complementary trading tools and brokerage business support to Envestnet’s existing suite of offerings.

Jud Bergman, Envestnet Chairman and CEO said, “This is the next important step in developing a financial wellness network that enables advisors and enterprises to improve their productivity and deliver better outcomes for their clients.”

The deal brings FolioDynamix clients access to Envestnet’s trading tools and commission and brokerage support, as well as integrated wealth management solutions. Joseph Mrak, Chairman and CEO of FolioDynamix said, “We are excited to see where this collaboration takes us and the wealth management industry as a whole.”

Founded in 1999 Envestnet |Yodlee recently won Best of Show for its demo of Financial Health Check at FinovateFall 2017. The new offering leverages consumer data to measure and score their financial health and offers personalized recommendations and tools to help them improve their well-being. In November, the Chicago-based company teamed up with Token to support PSD2 compliant payments in line with open banking regulations.

Finovate Alumni News


  • Envestnet Finalizes Acquisition of FolioDynamix for $195 Million.
  • In the Navy: nCino Brings its Bank Operating System to the World’s Largest Credit Union.
  • Kantox Closes Debt Financing.
  • Finovate Alums Garner $2.7 Billion in 2017; $721 Million in Q4 Alone.

Around the web

  • CIO Review names AI Foundry one of the 20 Most Promising Enterprise Information Management Solution Providers 2017.
  • nCino to power cloud-based digital platform to Navy Federal Credit Union.
  • Motor City Community Credit Union partners with Fiserv.
  • Elixirr interviews Personetics founder and CEO David Sosna.

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.