Meniga Launches MarketWatch to Offer a New Revenue Stream for Banks

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


Next, Meniga demonstrated its MarketWatch technology:
“The MarketWatch offers Financial Institutions a unique way to analyze financial data that lives within their systems. Complementary to Meniga’s PFM Solution, the MarketWatch enriches the transactional data and is a real-time, transaction-based analytics platform for industry-specific market intelligence and reporting. The superior market intelligence provided by the MarketWatch can be offered by banks to retailers for competitive analysis or to improve tactical decision making thereby creating a new revenue stream.”
Presenting Georg Ludviksson (CEO & Co-Founder) and Einar Gustafsson (VP Product Management)
Product Launch: February 2014
Metrics: $8 million raised. 70 employees. Meniga is the European market leader of white-label Personal Finance Management (PFM) and next-generation online banking solutions. The Meniga PFM Solution has been implemented by more than 15 financial institutions in 11 countries, reaching well over 10 million online banking users. Meniga’s PFM Solution has received multiple awards for innovation, including “Best of Show” at FinovateEurope in 2011 and 2013, and boasts market leading adoption and retention metrics.
Product distribution strategy: Direct to Business (B2B), through financial institutions
HQ: Reykjavík, Iceland
Founded: March 2009
Twitter: @meniga

Cardwise’s Xpenditure Automates Expense Management

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


Second up this afternoon, Cardwise demonstrated how Xpenditure can automate expense reports:
“Xpenditure is a web based expense management solution that eliminates expense reports for a company. By automating all steps of the expense management process and making use of receipt scanning and integrated approval on the level of expense, Xpenditure makes it possible to manage all daily costs without creating ordinary expense notes – all without long and expensive implementation costs.”
Presenting Wim Derkinderen (CCO & Co-Founder) and Koen Christiaens (Head of Product) 
Product Launch: February 2013
Metrics: €1.8M in Funding (Angel), 15 Employees, €1.3M in revenue for 2013
Product distribution strategy: Direct to Business (B2B), through financial institutions, through other fintech companies and platforms
HQ: Mechelen, Belgium
Founded: April 2011
Twitter: @xpenditure

NF Innova Presents its Personal Experience Module to Boost Customer Engagement


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

Making their way to the stage now is the team from NF Innova, a software company that specializes in omni-channel customer interaction products.

Personal Experience Module, a part of iBanking product suite, enables banks to offer their customers a truly unique and tailored user experience. Namely, instead of static, CRM-based rules used for segmentation, this module provides for the adaptive behavior of the entire system, tailoring the user interface for each individual client, without the administration by the bank’s staff. 
It monitors the subscribed products and services, user’s behavior on the digital touch points (portal, mobile devices, etc.), and automatically provides the exact mash-up of functionalities that are most appropriate for the specific customer at the given time and the communication device.”
Presenting Eldar Banjica (CEO) and Dejan Petkovic (Director, Products & Strategy)
Product Launch: iBanking: June 2012, Personal Experience Module: February 2014
Metrics: 42 employees, estimated €1.5 million in revenue in 2013, estimated 1 million named users of iBanking in 2013
Product distribution strategy: Direct to Business (B2B), through other fintech companies and platforms, licensed
HQ: Vienna, Austria
Founded: March 2013

Payworks Provides Robust Checkout Options

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


Taking the stage just before lunch, payworks showed how its platform can facilitate robust payment capabilities:
“We are showing how easy it is to build innovative payment solutions on top of the payworks platform and showcase stunning checkout options.”
Presenting Christian Deger (CEO) and Michael Englmaier (Head of Sales)

Product Launch: Summer 2012
Metrics: 15 employees, winner of MPE Award for most innovative payment startup
Product distribution strategy: Direct to Business (B2B), through financial institutions
HQ: Munich, Germany
Founded: April 2012
Twitter: @payworksmobile

Tink Launches its Personal Finance Service Internationally

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


Next, Tink launched its platform to help users follow their finances:
“Tink is a free personal finance service that allows you to follow your money, wherever you are! The service automatically collects and categorizes up to 2 years of historical transactions and assets from the banks you decide to connect. Once connected, Tink presents your expenses and incomes, suggests budgets, sends alerts, and gives you a personalized feed. Tink removes all the unwanted noise, highlights what’s important, and provides intelligent insights into your finances. Following your money with the Tink feed is as effortless as browsing your Instagram feed!”
Presenting Daniel Kjellén (Founder & CEO) and Fredrik Hedberg (Founder & CTO)

Product Launch: September 2013, international launch: 2014
Metrics: 10 employees
Product distribution strategy: Direct to Consumer (B2C)
HQ: Stockholm, Sweden
Founded: June 2012
Twtter: @tink

MyWishBoard’s P2P Platform Helps Family and Friends Fund Each Others’ Wishes

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


Next, MyWishBoard stepped up to demo its P2P platform that helps friends and family finance each others’ wishes:
“ is the first p2p platform where users can finance their wishes with the help of friends and subscribers. Once the necessary amount is raised, the money is transferred to the gift recipient’s digital account and could be further spent directly in e-stores or withdrawn on a credit card.”

Presenting Alexander Borodich (Co-Founder & Chief Dreams Officer) and Olga Kazmina (Marketing Fairy)

Product Launch: July 2013
Metrics: $730,000 raised, more than 80,000 registered users with over 650,000 wishes, 6 employees
HQ: Moscow, Russia 
Founded: May 2013 

Backbase’s Mobile Account Origination Module Creates a Seamless Mobile Enrollment Experience

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


Next, Backbase demonstrated how it will cut back office processing time with its new mobile account origination and enrollment module:
“We are launching our new mobile origination and enrollment module at FinovateEurope 2014. With the strong mobile capabilities of the Backbase Platform and the growing digital marketing capabilities, we are now including an out-of-the-box tool for seamless mobile enrollment experiences.
The new key features are:
    • Complete mobile application development capabilities within Backbase
    • Out-of-the-box enrollment and origination capabilities to support the online application process including camera facilitated image matching for insurance claims and digital image ID authentication using driving licenses for example – all linked with the FI’s back-end system (STP), with campaign analytics to track and monitor the campaign’s results”
Presenting Jouk Pleiter (CEO & Co-Founder) and Jelmer de Jong (Global Head of Marketing)

Product Launch: February 2014
Metrics: Privately funded, 150+ employees, offices in New York, Amsterdam, London, Singapore, and Moscow
Product distribution strategy: Through financial institutions, licensed 
HQ: Amsterdam, Netherlands
Founded: April 2003
Twitter: @backbase

PhotoPay Cloud Simplifies Paper, PDF Bill Payment on Mobile Devices


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

Our next presenter is the team from PhotoPay, debuting PhotoPay Cloud:

“Send any kind of payment related document from your mobile device to PhotoPay Cloud service and it will automatically extract necessary payment data for very simple, one tap payment experience. PhotoPay Cloud will handle any type of bill or invoice customers can receive – photo of a paper bill, PDF document and other types of electronic documents.
“Besides simple payment, PhotoPay Cloud can archive documents for users and provide banks with a deeper understanding of customer financial behavior.
PhotoPay Cloud service can be integrated as a mobile banking feature or as a stand-along product. It can be used as a private, on premises installation or through a secure cloud API.”
Presenting Damir Sobol (Founder & CEO) and Jurica Cerovec (Lead Engineer)

Product Launch: February 2014
Metrics: Self-financed, 8 employees, 8 bank customers in 5 countries
Product distribution strategy: Private cloud setup or secure cloud API, direct licensing, through other fintech companies and platforms
HQ: Zagreb, Croatia
Founded: April 2013
Twitter: @photopay

SecureSafe Emphasizes Connectivity, Security in Cloud Storage


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

Our next presenter is the team from SecureSafe, demoing their Swiss online storage that is as safe as a bank vault.

“The financial services ecosystem suffers from the fact that each service provider has its own portal through which data is delivered in a 1:1 fashion. SecureSafe presents a platform that connects banks, EAA, POA, FIM, SNE customers, and private customers. Documents can be sent from banks to professional partners such as EAA, which then can be shared with the assigned end customers. 
Metadata that is passed together with the documents allows for an improved experience and processing on all levels. Professional teams can seamlessly and securely work together with the high-privacy platform run in Switzerland.”
Presenting Tobias Christen (CEO and Co-Founder) and Tim Kahrmann (Head of Marketing)

Product Launch: February 2014
Metrics: 500,000 registered users, 10 full time employees
Product Distribution Strategy: Direct to Consumer (B2C), Direct to Business (B2B), through financial institutions, through other fintech companies and platforms, licensed
HQ: Zurich, Switzerland
Founded: January 2008
Twitter: @SecureSafe

Dynamics Launches Its Open Loop and Closed Loop Cards

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


Second up at this session, Dynamics launched its new hardware and software technology, Open Loop and Closed Loop:
Its new technology eradicates credit interchange for merchants while increasing interchange revenue for FIs. End customers can earn rewards by making regular purchases. Can run network and non-network contactless payments.
The new cards have increased security by embedding the EMV chips into the card.
Presenting Jeff Mullen (CEO) and George Schmelzel (Chief Payments Officer) 
Product Launch: February 2014
HQ: Pittsburgh, PA, USA
Founded: November 2007
Twitter: @dynamicsinc