Tactile Finance’s Tacfi Helps Borrowers Control the Mortgage Process


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

Then, Tactile Finance launched Tacfi, a website that helps borrowers select a mortgage provider:
“Tacfi is a consumer mortgage website that, for the first time, allows mortgage shoppers to truly control their outcomes throughout the mortgage process. Tacfi puts the intelligence of the mortgage industry up front and accessible to consumers where it belongs. 
The website will also allow consumers to seamlessly connect to select mortgage providers, while providing an easy way to safely and effectively navigate the mortgage process from end to end.”
Presenters: Nicole Hamilton (CEO) and Shivie Mannshahia (Architect)
Product Launch: FinovateSpring 2014
Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B), through financial institutions
HQ: New York, NY
Founded: May 2012
Twitter: @tactilefinance

FinovateEurope: Behind the Scenes with Luxoft, Topicus Finan, and Jumio

Here’s a look at another set of companies who showed off their new technology at FinovateEurope in London last month.

If you missed the previous behind-the-scenes features, you can check them out below:


What they do

With its mobile tablet app, iStockTrack, Luxoft aims to give premium bank clients a single, powerful tool to compare stocks, monitor their wealth, do daily banking activities, keep up with industry news, and more.

    • 7,000+ employees
    • 19 offices worldwide
    • 130+ clients
    • 300+ successful projects
    • Public company NYSE: LXFT

The experience
The screenshot below, which captures the user experience on the iPad, illustrates the client view of their net worth in the Banking tab. The top of the screen details the user’s individual accounts, while the graph in the middle shows a visual representation of the user’s net worth over time and projected future net worth.

Near the bottom, the user has access to tools such as a calculator, a video chat connection to their advisor, and an ATM locator. The user can customize these to their individual preferences.


This screenshot shows the user’s Favorites section that breaks down an individual stock (in this case, Google). It includes a comprehensive view of the stock, including data, a written business summary, and the ability to compare it with other stocks.

Also noteworthy is the Analyst Consensus section in the bottom right corner, which advises the user on the option to buy, sell, or hold a stock.


The screenshot below shows stock indices along the top, along with relevant events on the bottom right, and news on the left. Written news releases are located along the left side, and are complemented with videos on the bottom help to further inform the user on their trading decisions.


Luxoft can bring iStockTrack to any banking client within 4-6 weeks.The app can be re-skinned to match the branding preferences of any financial institution. 

Luxoft has been around for 14 years and provides a host of other financial solutions.

Check out Luxoft’s live demo from FinovateEurope here.

Topicus Finan


What they do

Among Topicus Finan’s many different solutions is its self-serve small business lending product, which it demoed at FinovateEurope. This product-as-a-service provides entrepreneurs with an easy-to-understand view of their business financials along with tools such as what-if analyses to determine the financial impact of possible decisions.

Simultaneously, the lending institution is given full visibility into the business owner’s financials and decisions, and even informs them when the entrepreneur is seeking additional capital.

    • 52 full time employees and growing
    • Turnover in 2013 was €4.1 million
The experience

The below screenshot illustrates the entrepreneur’s view of their small business finances. In this case, after the client logs on via their tablet’s web browser, they see an advisory graph that shows the assessment rating that the business receives on 6 different pillars: Capital, Liquidity, Return on capital, Revenues development, Payment behavior, and Payment credit charges.


The entrepreneur can also view graphs of their solvency rate, gross profit margin, and net cash. Additionally, they have the ability to see how each of these metrics will change with different scenarios such as purchasing equipment or adjusting labor.


The financial institution is given a full view of the small business’ finances. In this case, the business owner tested a what-if scenario about financing a new piece of machinery, and realized he did not have the cash flow to make it happen.

Afterwards, the loan officer was alerted that the client needed additional capital to purchase the new piece of machinery. At this point, the loan officer can easily view the actual business metrics to help make the decision about how much capital to offer.


Topicus Finan counts ING as one of its largest customers. The Dutch bank uses Topicus Finan’s software worldwide.

Check out Topicus Finan’s live demo video from FinovateEurope here.


What they do

Jumio’s Fastfill speeds up a bank’s customer acquisition process by extracting data on a customer’s ID document. After scanning an ID such as a passport or driver’s license just once, the new client no longer needs to bother with filling out multiple fields on a form.


    • Raised $37 million, $25 of which was from Andreessen Horowitz 
    • PCI 1 Certified 
The experience

To open an account, the user is faced with the following 12-field form. In order to expedite the process and decrease friction, the user is presented with the option to scan their ID.


The user scans their ID document, just as they would a check during a remote deposit capture process. Acceptable documentation includes a drivers license, passport, or government-issued ID.


The screenshot below shows what the form looks like after it has extracted the information from the ID.


Jumio also offers two other products that use its imaging technology, Netswipe, which allows consumers to pay by taking a picture of their credit card, and Netverify, which uses facial comparison to determine if users are who they say they are.

Check out Jumio’s live demo from FinovateEurope here.

FinovateEurope: Behind the Scenes with Arxan Technologies, Kensho, and Plutus Software

We hope you have been enjoying our “behind the scenes” look back at FinovateEurope 2014.

In our first installment, we shared with you some insights from our conversations with AdviceGames, Nous, and Yseop. We followed that with a peek at how CRIF, Mobino, and SaaS Markets were helping bring fintech innovation to businesses and consumers alike. And just last week, we presented a behind the scenes look at NF Innova, Vaamo, and Best of Show winner, Tink.

This week we bring you another handful of companies from FinovateEurope 2014. First up for today are three innovators from the fields of mobile app security, big data analytics, and lending to the underbanked in emerging markets.

Thumbnail image for ArxanLogoFEU14.jpg

What They Do:
Arxan Technologies specializes in mobile app security, providing solutions that make it more difficult for fraudsters and criminals to tamper with apps. 
The company’s technology deploys small units of object code called “Guards” that work at the application layer to defend against a variety of attacks ranging from malware and data breach repackaging to fraud and IP theft.
  • Technology is deployed on more than 300 million devices
  • Revenue for 2013 increased by 95%
  • Enterprise adoption grew by 146% in 2013
  • First and only IBM partner to offer validated app hardening, tamper proofing for mobile channel


Building Better App Awareness:
Having learned a little about Arxan Technologies via a conversation with CTO Kevin Morgan in January, I was looking forward to spending more time talking with the folks from Arxan Technologies at FinovateEurope.
What was particularly interesting about my conversation with Vince Arneja, who is Vice President for Product Management for Arxan, and the rest of the team was how the company has begun to expand beyond the “app hardening” technology that has served as a key concept in their recently released report on the state of app security. 
Now, as Vince tells it, the company is moving beyond simply making apps tougher and is focusing on making them more sensitive, as well.
“Apps need to be able to know more about the environment they are in,” Arneja explained. 
Mobile security is where Internet security was in 2003. There is a lot of emphasis on policy and configuration, “but that’s not really security,” he said. “That’s enforcement and locking down with certain policies. You’re not really securing your assets.”
Arxan’s innovation involves “environmental guarding,” reflecting a trend toward providing more visibility for the app itself into the environment in which it is running. 
The means the ability, for example, for the app to determine whether it is operating on a jailbroken device (i.e., an iOS device that has been altered to allow root access to the operating system)
“Some folks call it a ‘health check’ or just providing visibility via the application,” Arneja said. In addition to being able to detect jailbreaking, Arxan is developing technology that will help apps ferret out patching or “swizzling” attacks that are more iOS run-time sensitive. This is visibility that is embedded into the application.
A smarter app is a good thing for the user and the enterprise. Banks that do not want jailbroken devices accessing their systems can have a tool embedded in their mobile app that helps them accomplish this level of protection.
The prognosis for adoption of this technology? The bad news is that the company is not yet seeing the kind of adoption they would like to see among mid to low tier banks and financial institutions. The issues here are at least threefold: (a) cost is first, (b) a lack of technical ability or know-how is second, and (c) a failure to recognize that app security is an issue. How is that possible?
“They’re just trying to get the app out,” said Arneja. “They aren’t at the point where they’ve already had the app for the year. They’re just trying to get the app out and satisfy their small set of consumers, and aren’t even thinking about security at this point.”
The good news is that the team from Arxan Technologies is seeing “tremendous” adoption globally, in Japan and Korea, for example, particularly among Type A enterprises and large institutions. Arneja reported that about 42% of Arxan Technologies’ business is in EMEA (Europe, Middle East, Africa) and APAC (Asia- Pacific).  

Thumbnail image for KenshoLogo.jpg

What They Do:
Kensho is the company behind Warren, technology that uses big data analytics to help institutions do quantitative analysis on financial markets. Warren uses natural language processing technology to provide real-time answers to more than one million financially-oriented queries such as “which sectors are most impacted by hurricanes?” and “how does unrest in the Middle East effect energy stocks?” 
  • Raised $10 million in funding
  • Capable of responding intelligently to more than one million financial queries (expected to reach 100 million by end of 2014)
Warren: Big Data, Natural Language, Actionable Insights
Kensho is democratizing big data analytics for the capital markets, said Kensho Head of Strategy and Business Development, Adam Broun during a conversation at FinovateEurope in London in February. Most data providers were built years ago, he explained. And while they remain effective at providing data, they have not kept up with many of the computing advances that have been embraced by, first, the world of personal computing and, more recently, the growing market of consumer computing devices from smartphones to tablets.
In contrast, Warren expresses these ideas by using:
  • Natural language interface that lowers barriers to participation
  • Cloud computing infrastructure that lowers implementation time to zero
  • Software that works “as is” across a variety of channels including tablets and laptops
  • Visualization (“we are visual beings. Colors and shapes help you get what the graphs are telling you”)


With all the functionality of a financial platform like Warren, the question of competition with the 800 pound gorilla in the room is inevitable. And to that point, Kensho is quick to say that it has no intention of taking on Bloomberg, the financial information leviathan whose terminals have been a staple of professional trading desks for decades. “Warren is complimentary with Bloomberg,” Adam said. “We serve different purposes. We don’t want to do everything.”
That said, Adam added, he wouldn’t mind a little bit of what Bloomberg has. “You go and visit a trading desk and you look at a trader and he’s got six screens going. All of them Bloomberg. I’d like two of them to be us at some point in time,” he said with a laugh.
As a company, Kensho has raised $10 million in funding from General Catalyst, NEA Venture Capital, Accel Partners, Google Ventures, and Devonshire Investors. Accolades and positive press have flowed from all the right places like CNBC, the Wall Street Journal, Business Insider and Institutional Investor. “People think it’s very cool,” Adam said. “People get it, and are very positive.”
What’s next for Warren? Broadly speaking, Kensho is considering expanding beyond U.S. equities to include other popular markets such as fixed income, global commodities, futures, and FX. As for the technology itself, Kensho anticipates that Warren will be able to respond intelligently to more than 100 million financial queries by the end of 2014 (Warren can handle about 1 million questions as of February).
At this time, the idea of expanding to broader audiences is not front of mind. Future versions with modified functionality may effectively serve a less professionally-oriented clientele of retail traders and investors. But for now, Warren is a product – or rather a tool set – for professionals.
So the next time some wise guy says something along the lines of “Oh yeah? Well, what does that have to do with the price of tea in China?” you can now respond, thanks to Kensho, “Ask Warren.”


What They Do:
Kredit Aja is the name of the online and mobile marketplace developed by Plutus Software and deployed in the Indonesia market that helps traditionally underbanked borrowers connect with potential lenders. 
Kredit Aja is based on the same technology, LoanGarage, that Plutus Software successfully introduced in Singapore. Says the company “Kredit Aja is LoanGarage for Indonesia.”
  • Raised S$700,000 in seed funding
  • More than $5 million in approved loans
From Bias Against Borrowing to Helping People Meet Goals:
It’s one thing to be a growing company in a growing market. It’s quite another to be a growing company in a growing market in a part of the world that itself is synonymous with growth. 
That’s the environment Plutus Software operates in. Focused in Singapore, but moving aggressively into the Indonesia market with Kredit Aja, the company’s innovation lies in understanding how to make credit decisions in markets where traditional markets like credit scores are not available or not especially accurate.
The core proposition for Kredit Aja is that credit has been difficult to get in regions like South Asia. There are at least two factors behind this. One is the relative lack of interest on the part of many of the big brands in what are still emerging economies. A second factor is cultural. In many countries in South Asia, the idea of asking for a loan has had historically negative connotations. 
Fortunately for these countries, and for innovators like Kredit Aja, this sentiment is changing. “The feeling has changed from ‘it’s a bad thing to borrow’ to ‘we’re going to help people meet their goals.'”
And the breadth of these goals – from financing for a consumer purchase like a refrigerator to education funding and home mortgages – reflects the kind of business lines Plutus Software is growing into. In the company’s experience, many banks historically didn’t see the value, which is why Plutus Software added fe
atures like credit scoring, document verification – precisely the kind of functionality that is now helping attract banks to the company’s platform.
As a first mover in a market in which only 20% of the population have a bank account, what makes Kredit Aja unique is as much its technology as it is their innovative attitude toward credit scoring. “Traditionally banks look at past transactions,” the team from Plutus Software explained. “We look at social behavior, as well” and included everything from Facebook and Twitter activity to mobile recharge behavior.
Looking out over the balance of 2014, Plutus Software plans to improve its current portfolio of products, adding credit cards and other financial instruments (“more verticals”). Accomplishing this, in large part will mean building the Kredit Aja brand in Indonesia or “putting more boots on the ground” as the company puts it.
Another interesting challenge is that idea of branding. Growing interest in Plutus Software’s Loan Garage and Kredit Aja platforms has caused “top tier banks” to begin inquiring about white label opportunities. And this high quality problem is something that the multi-monikered company hasn’t entirely figured out how to deal with. “The main thing is that every conversation we have externally leads to another opportunity or another route,” said company CTO, Jagannathan Janagyraman. 
Update: A previous version of this article incorrectly described the current funding status for Plutus Software. 

FinovateEurope: Behind the Scenes with NF Innova, Tink, and Vaamo

In another behind-the-scenes view of FinovateEurope 2014, we take a closer look at NF Innova, Tink, and Vaamo.

If you missed the previous two behind-the-scenes features, be sure to check out:


What they do
NF Innova helps banks provide a tailored banking experience for their customers. This Personal Experience Module replaces a company’s static CRM system with an adaptive solution. It responds to individual users’ needs without the need for administrative input. 
By monitoring user behavior on digital touch points, it automatically provides the functionalities that appeal most to each user. The result is a solution that provides a single location for the end user to address all of their financial needs.
  • $1.5 million in revenue in 2013
  • 1 million users in its iBanking suite
  • 42 employees
  • 15 years experience working with banks
The experience
Customers are greeted with a login screen that speaks especially to them. In this example, the customer is greeted with a clean login screen that targets them with a home mortgage.
After logging in, the user sees a financial “command center” where they can view multiple accounts and have access to P2P payment options, alerts, account balance and feed of transactions over time, and more.
In this view, the My Cards section on the right is expanded to detail the customers’ balance across their credit card accounts.
NF Innova’s solution works for both larger and smaller financial institutions. It is working with one of the largest financial institutions in Russia but is mostly focused on the European market. However, it plans to expand to both North and South America later this year.


What they do
Tink is a direct-to-consumer mobile app seeking to reinvent PFM to make managing finances more enjoyable and digestible for ordinary people. Its average user is a 25-year-old female, and in order to appeal to this demographic, Tink makes looking at finances as easy and beautiful and checking your Instagram feed.

The Sweden-based company does its own aggregation, ensuring that all of users’ transactions are accurately represented. This is crucial because, as Tink notes, it is rare for users to manually input or change details about their transactions. Therefore, if the aggregation isn’t done correctly the first time, the user’s view of their finances will never be accurate.

  • 150,000 users 
  • 10 employees
  • Average user logs in 3 times per week
The experience
The middle phone below depicts the user’s financial feed, which has a similar feel to Facebook’s activity feed. Its purpose is to inform the consumer of their spending while not making them feel guilty about it. By viewing spending habits as something positive, Tink encourages users to log in more frequently.
In addition to the general activity feed, Tink also shows the user a close up view of their spending. The phone in the middle depicts spending across simplified categories, and the one on the right is a magnification of what the user spent on a specific category, Food & Drinks.
Tink is live in Sweden on iOS and Android. It plans to launch in other markets in the future.


What they do
Vaamo helps users achieve their personal financial goals by providing them a simple and easy-to-use platform that visually portrays their goals over time.
 It invests the user’s money in international equities, government and corporate loans and real estate. To optimize return on investment, Vaamo uses an investment approach that was developed in collaboration with the Goethe-University in Frankfurt.
If one of the funds changes unexpectedly, the user is prompted to log in and change their goal by either contributing more money or extending the time period.
  • 14 employees
  • More than €500K in capital raised
  • It is in final negotiations in contracting with a bank in Germany to h
    old customer account balances.
The experience
The screenshot below depicts a user’s view of their three goals. With a personalized picture as the background and the progress bar in the middle, it is easy to see each savings goal.
The interface below illustrates the simplicity of setting up a goal. Instead of being burdened with selecting individual funds, the user needs only to select their risk class and how much they are willing to contribute initially.
Users can withdraw funds from their goals at any time. When they opt to withdraw from their account, they are prompted to make a choice about how they want to make up the amount they took from their savings goal (see the red box in the screenshot below).

Vaamo is a paid product that will target 25-45 year olds who earn a range of €3k to €10k per month.

Check out Vaamo’s live demo video from FinovateEurope here.

Stay tuned next week for another behind-the-curtain view of FinovateEurope 2014.

FinovateEurope 2014: FinTech on Film

Thumbnail image for FinovateEuropeButtonicon(highres).jpg

Your plan to binge watch “House of Cards” just got a little more complicated.

The videos from FinovateEurope 2014 are now available in our Video Archive section. Two full days of demos. 67 presentations. More than 470 minutes of fintech innovation. No gorilla suits or no-look, laptop tosses this time around. But the two-day event did feature an entertaining performance by a precocious young investor, a pair of innovators in motorcycle helmets, and a Russian supermodel.

And if all that doesn’t whet your appetite, here’s a look at the demo videos from the nine companies awarded Best of Show honors this year. Click the image to go to the video page.



Thumbnail image for BackbaseLogo.jpg
Thumbnail image for BehavioSecLogoFEU14.jpg
Thumbnail image for DynamicsLogo1.jpg
Thumbnail image for EtronikaHorizontalLogoNew.jpg
Thumbnail image for Luxoft_logo.jpg
Thumbnail image for MisysLogofkaINDGroup.jpg
Thumbnail image for TinkLogo.jpg
Thumbnail image for ToshlNEWLogo.jpg

FinovateEurope: Behind the Scenes with CRIF, Mobino, and SaaS Markets

Here’s more “behind-the-scenes” coverage of some of the companies that presented at FinovateEurope 2014.

If you missed our previous installment from last week, click here to read “FinovateEurope: Behind the Scenes with AdviceGames, Nous.net, and Yseop.”

Thumbnail image for CRIFLogo.jpg

What They Do:
CRIF specializes in leveraging big data to help small and medium sized banks make sound credit decisions.
In a conversation the day before the company’s Finovate demo, CRIF’s Marketing Director Sheila Donohue noted that what’s critical for banks is flexibility: “Banks are more and more requesting the ability to change and make changes,” she said. “They don’t want to be dependent on vendors, or have their hands tied.” 

CRIF Credit Framework serves this need by helping financial institutions use the platform to create end-to-end products such as custom apps for loan origination or tools for business analytics and intelligence. The company’s solutions have been deployed widely, from the Bank of Georgia in Central Europe to Interra Credit Union in north central Indiana.
  • More than $106 million in equity
  • More than 2,400 financial institutions use CRIF technologies daily
  • More than 1,500 employees/associates worldwide
  • Total revenues in 2012 were 285 million euros
  • Founded in Italy, CRIF recently celebrated its 25th anniversary
Use Case:
The new release of CRIF Credit Framework will be especially helpful for banks looking to deploy a 21st century sales force equipped with productivity-enhancing mobile solutions. The company’s mobile app can be used in-branch, as well as at the point-of-sale when customers are considering a variety of financing options.
CRIF is also unveiling a new version of its business-intelligence product, also optimized for mobile, which provides a dashboard that allows business executives better transparency and the ability to monitor KPIs.
This technology allows executives, rather than IT staff, to dig into the data behind their KPIs and make changes immediately. Changes are visible, graphical (not in programming language), and are tracked.
“You want to be fast,” Donohue said. “But if the regulators come by tomorrow, you want to be able to substantiate the changes you made.”

Thumbnail image for mobino_logo.jpg

What They Do:
Mobino’s project is straightforward, if not simple: to enable everybody with a phone in their pocket to make mobile payments as easily as paying with cash.
“We are both independent from the card networks and the telcos,” said Mobino CEO Jean-Francois Groff in a conversation the day before his company’s Finovate demo. “But we are working very closely with the banking industry. We want to enable bank account holders to circulate real money just as easy as they would circulate virtual money.”
How Mobino Works:
Smartphone and feature phone users alike are able to take advantage of Mobino. With a smartphone, the solution is a downloadable app (available for both iOS and Android). “Dumb” phone users can utilize a voice-based service that provides the same basic functionality.
Users can load money to their Mobino accounts through a variety of methods, including bank account direct deposit, wire transfer, and by purchasing prepaid cards. The company’s independence from the card networks means that funding Mobino accounts via credit cards is not a part of the plan.
The service is free to use for consumers, both for making P2P payments as well as transacting with merchants. Merchants accepting Mobino pay a 1% commission, substantially less than card fees.
Use Cases: 
Groff sees use cases for Mobino everywhere: from online transactions to point-of-sale shopping at brick and mortar retailers, to peer-to-peer payments, merchant payments and more. 


Here’s an example of how a merchant using Mobino might interact with a Mobino-paying customer:
Step One:
The process starts with the merchant entering the transaction amount in the Mobino app.
The merchant will then receive a one-time token number, and will be instructed to show the token number to the customer.

Step Two:
The customer then enters the token number given by the merchant. 
The customer agrees to pay the amount, and enters his or her private passcode. 
The merchant and the customer receive notification confirming the payment by SMS.
Mobino allows the merchant to have funds transferred to the merchant bank account, and charges a 1% fee for the transaction.

During our discussion, Groff previewed yet another use case he would be sharing with Finovate audiences: “Each merchant who participates, who uses Mobino at their point-of-sale, can act as a cash machine. A sort of reverse ATM.” This is because Mobino operates on a prepaid basis. And in the same way Mobino allows consumers to exchange “e-money” for goods and services, Mobino also allows consumers with cash in pocket to exchange that cash for the merchant’s accumulated “e-money.”
Role for Banks:
Groff makes an interest
ing point about our relationship with our banks: 
“(Online banking) was marketed toward us as banking without waiting. But in the end we do all the work, and the bank is not available when we need them. They are there when we need credit or want to buy a house or set up investments. But when we just want to do the basic movements of money that are paired with daily life, the banks are really in the background.”
How do move banks to the foreground? Groff suggests that the success of PingIt, launched in the United Kingdom by Barclays, reveals that there is a “latent, unmet demand from the population for simpler services coming from the banking world.”
Looking forward, Mobino is optimistic about the growth of his company and in the technology that makes his service work. Distribution is a major focus, the hard work especially of getting “mom and pop” shops with older POS hardware to consider Mobino. 
And, as always there are regulatory issues. Here, however, Groff remains confident:  “The regulators, in general, are quite open,” Groff said. “When we show them the potential the innovation has to enhance what they call ‘financial inclusion’ – helping people who would never have access to finance to actually do something with money –  they really, really are open to experimenting.”

Thumbnail image for Thumbnail image for SaasMarketsLogo.jpg

SaaS Markets

What They Do:
Saas Markets helps financial institutions build app stores to help their small and medium business clients solve their business challenges.
This is no small accomplishment. In addition to capital, one of the things that can help make a difference in the success of SMEs is their access to resources, especially business solutions that will save them money, create more efficient processes, and help them compete more effectively in the marketplace.
“We address three things,” Ferdi Roberts, SaaS Markets CEO said in a briefing in advance of his company’s Finovate appearance. “One, helping banks understand the challenges facing their business customers.Two, to help them provide solutions to those challenges. And, three, to give them a platform that helps them gain new customers and keep the customers they have longer, so there’s a stickiness to the product.”
To this end, SaaS Market’s MarketMaker cCloud platform provides a personalized, cloud-based marketplace containing more than 1,500 curated business apps from accounting to invoicing. Use of these SME apps is convenient for the business operator, who can take advantage of these app while never being more than one click away from their bank. It also increases stickiness and the potential for greater engagement for the financial institution that hosts the platform.
Benefits for Financial Institutions:
Making it easier for small and medium-sized enterprises to get the accounting and invoicing technology they need is a worthwhile business in and of itself. But in conversation with  Roberts, and with Director of Marketing, Jay Manciocchi, it becomes clear that, in some ways, the app store is only the beginning.
This path toward a personalized app store is optimized by a technology called MarketMentor. MarketMentor works like a search engine within the platform, associating highly specific business problems to no less specific responses and solutions.  “Even if you don’t know what you want,” Roberts said. “You know what your problem is – so let’s start with that. And Market Mentor helps crystalize that.” 
The challenge for banks is that small and medium sized business customers tend to be the most numerous, the most profitable, and the most difficult to engage. Part of what SaaS Markets is trying to accomplish with its cCloud platform and Market Mentor technology is to boost engagement via personalized problem-solving. This helps banks become a more collaborative partner when it comes to helping SMEs solve their business problems.
The result is a win-win for banks, who benefit from greater engagement and less churn, as well as for their customers, who become better businesspeople with more resources at their disposal and a deeper understanding of their own business environment.

Stay tuned for next behind-the-scenes look at FinovateEurope 2014 later this week.

FinovateEurope 2014 in the Press


With any luck, FinovateEurope presenters and attendees were able to rest over the weekend to recover from the demos and networking.

It appears, however, that the media, bloggers, and members of the press were busy polishing up their extensive coverage of the demos. There are still more articles and blogs in the works, so stay tuned for further coverage.

Here’s a rollup of FinovateEurope in the press:

Accounts Payable News 
Enhanced new look for The Currency Cloud’s platform
American Banker
  • Feedzai Sifts Through Social Media Posts for Clues to Fraud
    by Penny Crosman
  • Jumio Aims to Modernize Mobile Commerce with Camera Tech
    by Karen Epper Hoffman
Backbase blog
We Won Best of Show at FinovateEurope 2014!
by Prue Duggan
Bank Innovation
FinovateEurope Recap
by JP Nicols
Bank NXT
Finovate 2014: The Eye of the Digital Storm
by Auke Douwe 
Bob’s Guide 
  • CRIF Debuts its Mobile Lending Platform that Adapts to Any Business, Regulation, or Country Requirement
  • Misys wins Best of Show at FinovateEurope
  • Show Report: Strike it Rich at Finovate Europe 2014
    by Neil Ainger 
SQLI: désigné pour participer à l’édition 2014 de Finovate Europe
Business Tech
Standard Bank launches Bitcoin pilot
by Jan Vermeulen
Finovate Europe: Show Report
by Daniel Lowther
Finovate Europe 2014: Some Key Takeaways
by Stephen Greer
C’est pas mon idée!
Tink, nouvelle perspective sur le PFM
by Patrice Bernard
Ten Takeaways from Finovate Europe 2014
by Andrew Marshall
CurrencyTransfer blog
Diary of a Finovate presenter. The story of CurrencyTransfer
by Daniel Abrahams
decyzje- IT
Luxoft z prestiżową nagrodą na konferencji Finovate Europe 2014
Der Bank Blog
Incremental or disruptive innovation?
by Dr. Hansjörg Leichsenring
E-Invoicing Platform
Top Image Systems Presents Innovative Mobile Imaging Platform at FinovateEurope 2014
Internationale positionering MyOrder en MyOrder Sidekick op Finovate Europe te Londen.
Financial IT
Misys Named ‘Best of Show’ Winner at Finovate Europe
Finance & Technology Research Centre
Finovate Europe 2014
by Ian McKenna
  • GMC Software Technology shows off mobile onboarding app
  • Nous trading game app lets users bet on bitcoin price
  • Nous unveils crowd-sourced data feeds
  • Standard Bank tests current account-linked bitcoin wallet
Forrester’s Benjamin Ensor’s Blog
Finovate Europe 2014: Digital Financial Innovation
by Benjamin Ensor
Human IPO
Standard Bank piloting Bitcoin trading platform
by Chris Udemans
ICT Journal
iStockTrack remporte le «Best of Show» grâce à un garçon de 10 ans
by Helene Leiievre
Info Money
Uma ameaça às exchanges de Bitcoin
by Fernando Ulrich
Mapa Research
Simplicity, financial planning and intelligent response
by Tom McCourtie
Matchi News blog
Matchi Announces Exclusive Sponsorship Deal with Caixabank at FinovateEurope 2014
Money Marketing 
Ian McKenna: Automation of advice is inevitable
by Ian McKenna 
News BTC
South Africa’s Standard Bank Running Bitcoin Pilot Internally With Switchless’ Integration
by Eric Calouro
Proactive Investors USA & Canada 
AnalytixInsight launches ETF analytics tool at Finovate Europe
by Deborah Bacal
SME Finance Forum 
Finovate London 2014 was a blast!
by Matthew Gamser
Standard Bank in Bitcoin trading pilot
by Nafisa Akabor
One of Africa’s largest banks, Standard Bank, pilots Bitcoin trading portal
by L.S.M Kabweza
The Next Web
  • How ‘social fingerprinting’ company Trustev uses Facebook to decide if you can have that new phone
    by Ben Woods
  • The Currency Cloud revamps payments platform with new look and streamlined API integration
    by Ben Woods
  • Toshl’s incoming update brings more monsters and a beautiful take on personal finance tracking
    by Ben Woods

Did we miss anything? Please send additional press coverage from FinovateEurope 2014 to julie@finovate.com and we’ll add it. Thanks!

FinovateEurope 2014: Twitter on the Thames

Thumbnail image for Twitter Bird.jpg

It’s only fitting that our biggest FinovateEurope ever would feature the liveliest Twitter feed in FinovateEurope history as well.

Maybe you were one of those retweeting support of not just “demos that taste good”, but “demos with good taste,” too. Perhaps you were among the many marveling at those great sketch summaries of FinovateEurope from follower @jonohey of FinovateEurope 2012 alum, Nutmeg

But however you may have enjoyed FinovateEurope 2014, there is no doubt that social media was a big part of the story this year.

You’ll have to go see some of the saltier tweets on your own. But here are a handful of highlights (click for larger version):

See you in San Jose in April!

FinovateEurope 2014 Best of Show Winners

After a busy two days of fintech demos, the FinovateEurope audience members have made their voices heard.
After watching the 67 demoing companies show off their newest innovations on stage in front of the sold out auditorium, the crowd voted for their 3 favorite demos at the end of each day. The 9 companies with the highest number of votes were crowned winners.
Here they are in alphabetical order:
Backbase, with its out-of-the-box tool for mobile account origination and enrollment
BehavioSec, with its behavioral biometrics solution created specifically for a mobile environment
Dynamics, for its new Open Loop and Closed Loop card technology
Etronika, for its multi-channel partnership ecosystem within BANKTRON
MISYS, for its cross-generational digital banking experience
Momentum (FKA YourWealth) for its MoneyHub technology that gives users total control of their entire financial life.
Luxoft, for its iStockTrack, an app that gives users a single place to connect with their investment life
Tink, for its mobile PFM that helps users stay connected with their finaces
Toshl, for its quirky PFM that makes finances fun
As always, thanks for your continued support. See you next year at FinovateEurope 2015!
All of the demo videos will be available on Finovate.com in two weeks.


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 nine 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.

AXA Banque and Chappuis Halder & Cie Debut SOON, a Mobile-First Approach to Banking

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


Finishing up FinovateEurope 2014, AXA Banque and Chappuis Halder & Cie come up to debut SOON, a mobile-first approach to banking:
“SOON is changing the way everyday banking is done. Mobile banking can be much more than another channel to use the same banking services because mobile handset capabilities enable brand new user experiences. SOON is one of the first bank services to be specially designed for a mobile smartphone, with the objective to make bank services useful, simple, and pleasant. Focusing on design and user experience, we took Apple as an example and used the Nudge marketing theory to develop useful functionalities to manage money.”
Presenting Raphaël Krivine (General Manager, AXA Banque) and Patrick Bucquet (VP Digital, CH&C)


Product Launch: January 2014
Product distribution strategy: Direct to Consumer (B2C)
HQ: Fontenay Sous Bois, France
Founded: September 2012  
Website: soon.fr 
Twitter: @soon

Smart Engine’s Shopping Assistance Helps Banks Bring More Targeted Offers to Consumers

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


Then, Smart Engine took the stage to launch its Shopping Assistance technology that helps banks take advantage of big data to bring consumers more targeted offers:
“We are demonstrating the next generation of our innovative Shopping Assistance functionality which adds an entirely new level of “big data” consumer profiling and multichannel targeting to our card linked offer bank loyalty platform. 
The cardholder checks in at the merchant store using the App or logs on to the web shop. Our consumer insight analytics in real time pushes relevant shopping offers and recommendations which match the cardholder’s preferences. The preferences are derived from the cardholder’s profile which we maintain consistently across all merchant sales channels. The cardholder checks out from the store using the Smart Engine App, paying for the purchase and redeeming a discount all in one go.”
Presenting Christian Bacher (Managing Partner) and Anna Bacher (Director of Sales & Bus. Dev.)

Product Launch: Q1, 2014
Metrics: Money raised to date: $8M, annual revenues: $950,000, number of employees: 35, shareholder structure: 60% – 2 private venture capital funds, 40% – management
Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B), through financial institutions
HQ: Europe: Vienna, Austria, Asia: Hong Kong, China
Founded: December 2010
Twitter: @SmartengineNws

Arxan’s Security Technology Shields at the Application Layer for Tamper-Proof Protection

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

ArxanLogoFEU14.jpgNext, Arxan Technologies took the stage with its mobile app shielding for financial services:

“Arxan’s mobile application hardening delivers critical defense and shielding at the application layer with static and active self-defend and tamper-proof attributes. By deploying Arxan protected apps, financial institutions can launch advanced and feature-rich mobile financial services with confidence. Our state of the art ‘Guards’ are small units of object code that “lockdown” applications with multiple and performance sensitive protection against attacks such as malware, fraud, data breach repackaging, unauthorized access, IP theft, removal of security or critical business logic – all of which would have significant consequences for financial institutions.”
Presenting Vince Arneja (VP Product Management) and Winston Bond (Security Solutions Architect)
Product Launch: October 2013
Metrics: majority private equity investment made in Arxan in September 2013, HQ in USA with global offices in EMEA and APAC
Product distribution strategy: Direct to Business (B2B)
HQ: Bethesda, MD, USA
Founded: January 2001
Website: arxan.com
Twitter: @Arxan