IND Group Launches Solution to Help Customers with Financial Planning

Thumbnail image for Thumbnail image for INDGroupLogo.jpgSecond up, IND Group launched Story of My Finances:

“Story of My Finances is a completely new approach to digital financial customer service. It takes online banking and PFM to a next level of mass retail financial planning and advice. 

Stories are customer-driven financial life processes, like “How to spend less”, “Prepare for a rainy day”, “Buy a home” or “Retirement planning.” Stories help end-customers to get financially fit and to have a peace of mind. Stories are the missing link between everyday people and financial products. We believe that we can improve people’s financial life by licensing our white-label technology to financial institutions.”

Product Launched: September 2012
HQ Location: Munchen, Germany
Company Founded: 1997
Metrics: 12M € in revenue, 7 offices, 225 employees, 30 retail banks and financial institutions as clients
Twitter: @indgroup
Finovate demo (demo video will be posted next week)
Introducing Jozsef Nyiri (Founder & Chief Innovator) and Roland Pecsenye (Founder & Executive Chairman)

IDology’s Security Uses Transaction Data to Authenticate Users


First on stage for day two of Finovate, IDology showed how it can use customer transaction data to authenticate users:

“Our new product, ExpectID Enterprise, is the next generation of knowledge-based authentication and allows businesses to present custom, out-of-wallet questions to consumers using their own data. Banks are able to leverage IDology’s SaaS solution to generate out-of-wallet questions from their internal proprietary customer transactional data located behind their firewall and without ever having to share that data with us. 

This allows banks to replace their shared secret questions (What is your mother’s maiden name?) with a higher security model that isn’t compromised by social media. ExpectID Enterprise helps banks meet FFIEC compliance guidelines while creating a safer authentication method on high-risk transactions.”

Product Launched: February 2011
HQ Location: Atlanta, GA
Company Founded: 2003
Twitter: @IDology
Finovate demo (demo video will be posted next week)
Introducing John Dancu (CEO) and Chris Luttrell (VP Product &
Customer Service)

MShift Introduces AnyWhereMobile

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Concluding the first day here at Finovate, MShift showed how its solution helps community banks and credit unions issue mobile wallets:

“MShift presents AnyWhereMobile, a new payment network enabling Community Banks and Credit Unions to become the issuers of mobile wallets, and receive revenues from mobile payments. 

The AnyWhereMobile payment network will multiply the net interchange income of both debit and credit transactions for financial institutions, simultaneously slashing interchange fees for merchants by more than half. The technology behind the AnyWhereMobile initiative eliminates the majority of fraud losses for both issuers and merchants, and empowers merchants to generate additional rewards and discounts for consumers.”

Product Launching: Mid-2013
HQ Location: Fremont, CA
Company Founded: September 1999
Metrics: At 40+ employees, MShift’s history is as a profitable mobile banking company based in Silicon Valley. Now, they have innovated a new payment rail for use in their mobile wallets. MShift’s last capital raise was in 2000.
Twitter: @MShiftMobile
Finovate demo (demo video will be posted next week)
Introducing Scott Moeller (Chairman & CEO)

Deluxe’s SwitchAgent Helps Users Change Financial Institutions

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Then, Deluxe launched SwitchAgent to help users switch financial institutions:

“SwitchAgent is an automated account switching service for banks and credit unions that enables consumers to easily switch from one financial institution to another. Using patent-pending technology and automated concierge services, it is the first solution of its kind available to U.S. financial institutions, and this newly enhanced service now includes the movement of online bill pay accounts. 

SwitchAgent saves consumers time by automatically shifting multiple online payments from their old account to their new account, using our key differentiator – the service’s automated scoop functionality for online bill pay.”

Product Launched: September 2012
HQ Location: Shoreview, MN
Company Founded: 1915
Metrics: Over $1.4B in annual revenues, 5000+ employees, and more than 6400 financial institution clients
Twitter: @DeluxeCorp
Finovate demo (demo video will be posted next week)
Introducing Petro Tsarehradsky (VP, Marketing) and Tieg Herman (Senior Product Manager)

Dynamics Demos Triple Interface Card

Thumbnail image for DynamicsLogo1.jpgNext, Dynamics introduced its Triple Interface card:

This card, which stems from its original suite of  products, is a technology-agnostic platform that enables consumers to use credit or rewards points as payment. The card includes both embeddable and contactless chips that allow for transactions to be executed with a tap, swipe, or EMV insert.
Product Launched: September 2012
HQ Location: Pittsburgh, PA
Company Founded: September 2007
Metrics: Over $40M raised, over 100 employees
Finovate demo (demo video will be posted next week)
Introducing Jeff Mullen (CEO)

Virtual Piggy Demonstrates its Kid-Safe Online Payments Platform


Then, Virtual Piggy showed the audience how kids under the age of 18 can purchase safely online:
“Virtual Piggy allows youth to purchase directly from merchants with a process that is safe, fully COPPA compliant, PCI compliant, and controlled by their parents. 
The parent provides all personal information from the billing account, including credit card numbers and home shipping address. This then allows a child to make a purchase on an integrated merchant site by logging into their account at the shopping cart. If the parent has allowed sufficient funds, and the merchant has been approved, then the transaction is completed.”
Product Launched: March 2012
HQ Location: Hermosa Beach, CA
Company Founded: February 2008
Twitter: @followpiggy
Finovate demo (demo video will be posted next week)
Introducing Jo Webber (CEO & Founder) and Pradeep Ittycheria (CTO & Co-Founder)

Akamai Demos Kona Site Defender, a Cloud-Based Web Security Solution


Akamai took the stage next to demo its cloud-based web security solution:

“Web based attacks have been on the rise, with financial services being one of the primary targets of criminal, political, and chaotic actors. These attacks can cost institutions millions in lost transactions and business productivity each year, and even higher losses in their brand value and reputation. 

Akamai’s Kona Site Defender is the first cloud-based Web security solution to help financial service institutions protect against both large scale denial of service and sophisticated application-layer threats seeking to compromise their brands, applications and associated data.”

Product Launched: February 2012
HQ Location: Cambridge, MA
Company Founded: September 1998
Metrics: Akamai (AKAM) is a public company listed on NASDAQ, having gone public in 1999. The company produced $1,159M in revenue in 2011 with over 2,000 employees and 3,500 customers
Twitter: @Akamai
Finovate demo (demo video will be posted next week)
Introducing John Buten (Director of Industry Marketing) and Matt Brightman (Senior Solutions Engineer)

Actiance Uses Salesforce to Enhance Customer Engagement

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Second up, Actiance demonstrated how it taps Salesforce to enhance FI customer engagement:

“Actiance will be demoing the first social media enablement platform to incorporate CRM data from Salesforce. With Socialite, users can now maximize the power of Salesforce, monetize their social involvement and increase revenue. Socialite from Actiance allows financial advisors, agents and sales and marketing organizations to engage with clients, build customer relationships, and create a personal brand – all while being compliant with FINRA and SEC regulations. 

Key features of this new offering include: linking Socialite contacts to Salesforce accounts, mapping Salesforce accounts to Socialite connections and sending Socialite activity to Salesforce when contacts provide feedback or respond to posted content. In addition, Actiance will be demoing its new Socialite Mobile application for the iPhone.”

Product Launched: August 2012

HQ Location: Belmont, CA

Company Founded: 1998
: 250 employees worldwide; 9 of the top 10 banks in North America, the top 5 banks in Canada and 3 of the top 5 energy companies all use Actiance’s products.

Twitter: @Actiance
Finovate demo (demo video will be posted next week)
Introducing Sarah Carter (General Manager, Social Business) and David Cho (Lead Social Collaboration)

Yodlee Unveils Small Business Center Platform


First up after intermission, Yodlee demonstrated its platform for small businesses:

“Yodlee’s dynamic banking experience is now targeting small businesses on the go, with easy to use financial management tools that simplify cash management in a digital environment. 

We’ll be showcasing how small business owners can aggregate their account information, view key business metrics, manage and categorize their expenses on the fly, and easily move money between accounts or pay bills anywhere, anytime from a single platform. The service empowers both banks and small business owners, delivering exceptional functionality via Yodlee’s unique FinApp architecture.”

Product Launching: Q1 2013
HQ Location: Redwood City, CA
Company Founded: June 1999
Metrics: 13 years of bank technology, leadership and innovation, 700+ employees globally, 30% annual YOY revenue growth, 35M+ registered users, >$3 Trillion in personal finances being tracked through Yodlee solutions
Twitter: @Yodlee
Finovate demo (demo video will be posted next week)
Introducing Anil Arora (President & CEO) and Eric Connors (SVP, Products)

Blackhawk Network’s GoWallet Enables Consumers to Manage All of Their Prepaid Cards in One Place


Then, Blackhawk Network launched GoWallet to give consumers one place to manage all of their prepaid cards:

“Blackhawk Network’s GoWallet technology provides a direct-to-consumer platform and interface that lets customers manage all of their prepaid cards in one place. The digital technology also allows consumers to purchase gift cards from their mobile device. The app will provide consumers with mobile access to their account information, special offers and coupons.”

Presented on: September 12, 2012
HQ Location: Pleasanton, CA
Company Founded: 2001
Metrics: 500+ employees
Finovate demo (demo video will be posted next week)

Introducing Tomas Campos (General Manager, Online & Mobile) and Sheila Andres (Director of Product Management Mobile and Online)

MoneyDesktop Introduces Desktop Widgets

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Next, MoneyDesktop took the stage with its PFM desktop widgets:
“On average, industry percentages for online banking PFM user adoption and engagement perform far below what is possible. The problem: PFM has been implemented as a mere check-the-box add-on, thus diminishing its huge potential as the core experience for complete money management. With this mindset, PFM in general has struggled to gain meaningful adoption largely because it has remained separate from the complete online banking experience – usually buried deep in a drop-down tab of optional services. A dividing line exists that separates PFM from the rest of the online-banking experience.
MoneyDesktop is officially erasing this dividing line and introducing a seamless PFM solution for the online banking and mobile channels. This will allow financial institutions to:
        • Drive data aggregation with prominent visualizations that prompt users to add outside accounts – leading to even higher levels of loan volume through targeted cross-selling opportunities based on aggregated, user-specific account data.
        • Drastically enrich the online banking experience with eye-catching data visualization that can be framed throughout the online banking interface. 
        • Fuse online and mobile banking with data visualization that is precise and consistent from desktop to mobile devices – giving users timely and rich financial insight when and where it matters most.”
Product Launched: September 2012
HQ Location: Provo, UT
Company Founded: March 2010
Metrics: Triple-digit growth over the past 2 years, 25 Online Banking/Core/Payment Network Partners, 310+ FI Clients, 71 Employees
Twitter: @moneydesktop
Finovate demo (demo video will be posted next week)
Introducing Ryan Caldwell (CEO) and Jason Cragun (Product)

SecureKey Demos Fraud Reduction Solution


Afterward, SecureKey took the stage to show authentication technology:

“Imagine a world where, as a consumer, you can use things you already have to enhance your online and mobile experience (your smart phone, your bank card, your tablet or PC). Imagine a world where, as a Bank Card Issuer, you can minimize card-not-present fraud and provide value-added services based on strong authentication, to your consumers and commercial partners. Imagine a world where, as a merchant, you can sell to your clients through extended channels, securely, and with little risk of card-not-present fraud. And imagine a world where online service providers such as governments can actually transact with their constituents after ascertaining their identity, while still transacting anonymously.”

Product Launched: September 2012
HQ Location: Toronto, Canada
Company Founded: April 2008
Metrics: SecureKey is a privately-held company based in Toronto, Canada with over 100 employees. In June 2012, SecureKey completed a $30M strategic investment round of growth capital, led by Intel Capital. Other investors include Visa Inc., MasterCard, Discover Financial Services, Rogers Venture Partners LLC, and TELUS Corporation. In November 2011, SecureKey was awarded a contract by the Government of Canada to provide an innovative Credential Broker Service, named SecureKey Concierge, which allows Canadians to use their bank authentication credentials to obtain access to online government services. Current banking partners include TD Bank Group, Scotiabank and BMO Financial Group. 
Twitter: @SecureKey
Finovate demo (demo video will be posted next week)
Introducing Chris Gardner (VP, Partner Engagement) and Christian Ali (VP, Product Development)