FinovateFall Sneak Peek: Meniga

A look at the companies demoing live at FinovateMiddleEast on November 20 and 21, 2019 in Dubai. Register today and save your spot.

Meniga is a global leader in digital banking solutions working with some of the largest banks in the world to improve customer engagement and develop new business models.

Features

  • SaaS banking data consolidation, enrichment, and categorization
  • Personalized rewards and offers for banking customers
  • Social responsibility by helping the planet

Why it’s great
Banking data can help save the planet.

Presenters

Ólafur Óskar Egilsson, VP of Product
Egilsson has been instrumental in leading Meniga’s product team for three years. He has extensive experience in working in fintech and banking.
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Isabel Moratiel, Business Development Manager
Moratiel has experience in diverse areas of fintech, SME lending, international credit scoring, and digital banking. She has been at Meniga for over three years working in business development.
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FinovateFall Sneak Peek: Owl.co

A look at the companies demoing live at FinovateMiddleEast on November 20 and 21, 2019 in Dubai. Register today and save your spot.

Owl.co is a customer insight engine bringing external attributes for better decision making. In just one year, Owl is working with 10 of the largest financial institutions in North America.

Features

  • Derives customer insight from thousands of databases in real time
  • Takes a fully modular approach to fit within enterprise processes
  • Surpasses regulation requirements with end-to-end encryption

Why it’s great
Owl.co offers enhanced personalized onboarding, enhanced customer due diligence, and fraud detection. All of this is available on a zero-knowledge platform where nobody but the intended party can see the data.

Presenter
Vahid Mirjalili, Co-founder and COO
Formerly at BCG, Mirjalili led a multi-million dollar digital transformation of financial institutions in Canada and the U.S.
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FinovateFall Sneak Peek: VeriTran

A look at the companies demoing live at FinovateMiddleEast on November 20 and 21, 2019 in Dubai. Register today and save your spot.

VeriTran’s Low-Code Platform streamlines the creation, development ,and roll-out of digital business applications in record time with a visual and intuitive model and drag-and-drop interface. Creating an app with its Low-Code Platform is simple and does not require technical expertise in programming, security, graphic design, or UX to put world-class apps at an end user’s fingertips.

Why it’s great
Clients can execute in months what often takes years. A project that takes upwards of twenty-four months can be created with VeriTran in just six months.

Omar Arab, VP Corporate Business Development – U.S. Market
Arab combines advisory, creative, and technological capabilities with an innovation culture and specialist knowledge of the financial sector.
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Greynier Fuentes, Solutions Manager
Fuentes has 15 plus years of achievement leading areas of solutions development for financial services. He is entrepreneurial and innovative by nature.
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FinovateFall Sneak Peek: College Aid Pro

A look at the companies demoing live at FinovateFall on September 23 through 25, 2019 in New York City. Register today and save your spot.

College Aid Pro (CAP) is an innovative, college planning technology for, and supported by, an engaged community of financial advisors. CAP is changing the way America shops for college.

Features

  • Demystifies financial aid, providing accurate net cost projections at thousands of schools
  • Provides a process for guiding families to better college outcomes
  • Supported by a community of professionals

Why it’s great
There is currently no such thing as a financial advocate for Gen-X families with college bound teens. CAP is growing a movement of professionals with the tools and resources to provide that service.

Presenters

Joe Messinger, Co-Founder
Messinger has helped hundreds of Gen X families navigate the college funding maze through his RIA Capstone Wealth Partners, while training thousands of advisors to replicate his process.
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Matt Carpenter, Co-Founder
Carpenter is a leading expert in the opaque process of higher education funding and financial aid. His firm, College Funding Services, has helped thousands of families cut the cost of college.
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FinovateFall Sneak Peek: Edmit

A look at the companies demoing live at FinovateFall on September 23 through 25, 2019 in New York City. Register today and save your spot.

Founded by recognized university leaders, Edmit’s award-winning software provides personalized insights and advice to help families make smarter college financial decisions, leading to less debt.

Features

  • Build brand trust and provide insights and expertise in a high anxiety major investment
  • Become a “one stop shop” for holistic financial wellness
  • Introduce a differentiated college-related product

Why it’s great
Families that use Edmit make smarter college financial choices leading to less debt and better life outcomes.

Presenters

Nick Ducoff, Co-Founder and CEO
Ducoff was previously Northeastern University’s VP for New Ventures. He previously co-founded Infochimps, acquired by DXC, and was a VP at Boundless, acquired by Follett. He started his career in law.
LinkedIn

Sabrina Manville, Co-Founder
Manville was previously AVP at Southern New Hampshire University and previously worked at Pearson and Coursera. She has an MBA from Stanford and a BA in Religious Studies from Yale.
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FinovateFall Sneak Peek: Insuritas

A look at the companies demoing live at FinovateFall on September 23 through 25, 2019 in New York City. Register today and save your spot.

Insuritas is debuting the world’s first end-to-end quote and buy platform for business insurance to be fully integrated via API within a digital banking ecosystem.

Features

  • Revenue from digital banking
  • Seamless insurance for small businesses
  • Fully integrated solution allowing the bank to own the customer journey

Why it’s great
iInsure for Businesses empowers banks to transform their digital banking platforms and investments into platforms that drive non-interest income, customer wallet share, and retention.

Presenter

Matt Chesky, President
Chesky was recognized by Hartford Business Journal and Connecticut Magazine in 2018 as a “40 Under 40” recipient. He graduated from Yale University in 2012 with a degree in Economics.
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FinovateFall Sneak Peek: Andes Wealth Technologies

A look at the companies demoing live at FinovateFall on September 23 through 25, 2019 in New York City. Register today and save your spot.

Founded by an award-winning fintech veteran, Andes Wealth Technologies offers the “Google Maps for Financial Advisors,” a set of unique, modern tools to transform the wealth management experience.

Features

  • Risk Tolerance Test: The best ever.
  • Real-Time Risk Monitor: 360° risk visualization for markets and portfolios.
  • Practical Behavioral Finance, including a special tool for baby boomers.

Why it’s great
Unique ideas and visualizations. Beautiful yet practical tools backed by rigorous research and robust data analytics. It will indeed revolutionize the advisor and client experience.

Presenter

Helen Yang, Founder and CEO
A winner of the prestigious Harry Markowitz Award in 2011, Yang has 20+ years of leadership in Fintech and holds an MBA from MIT.
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FinovateFall Sneak Peek: Trulioo

A look at the companies demoing live at FinovateFall on September 23 through 25, 2019 in New York City. Register today and save your spot.

Trulioo presents EmbedID, a fast and simple way for startups and developers to verify customers across borders while supporting AML/KYC compliance requirements.

Features

  • Integrate and test Trulioo’s identity verification API in minutes
  • Fully customize onboarding fields and forms
  • Verify customers in real time

Why it’s great
With only a snippet of code embedded into any website, Trulioo’s EmbedID enables organizations to verify over 5 billion identities worldwide.

Presenters

Anatoly Kvitnitsky
Kvitnitsky has a wealth of experience working in fintech and identity markets, and is committed to helping solve identity challenges that organizations face in scaling their products for global use.
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Marat Asadurian
A software engineering manager at Trulioo, Asadurian enjoys building new products as well as new teams. In his current role, he is managing a team that generates new business lines for GlobalGateway.
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FinovateFall Sneak Peek: JSOL Corporation

A look at the companies demoing live at FinovateFall on September 23 through 25, 2019 in New York City. Register today and save your spot.

JSOL Corporation provides IT consulting and digital transformation related services to clients from various industries by leveraging its technology and know-how developed over the years.

Features

  • Predict growth/deterioration of business partners
  • Visualize transactional networks of businesses and assess spillover effects
  • Monitor/analyze up-to-date financial conditions of business partners

Why it’s great
Use JSOL Corporation’s tool to gain insight into your business partners’ projected financial performance and to make informed financing decisions.

Presenters

Kimitaka Honma, Deputy Unit Director
Honma is a Deputy Unit Director of the Digital Innovation Business Unit and has ample experience assisting financial institutions with their digital transformation efforts.

Andrew Ogata, Sales and Strategic Partnerships
Ogata is a sales specialist in the Digital Innovation Business Unit and focuses on domestic/overseas sales and strategic partnerships.

FinovateFall Sneak Peek: StreetShares

A look at the companies demoing live at FinovateFall on September 23 through 25, 2019 in New York City. Register today and save your spot.

The StreetShares platform provides “Lending-as-a-Service” technology to community banks and credit unions, empowering them to offer fully-digital small business loans… up and running in 30 days.

Features

  • Ability to grow and retain small business customers
  • Fully-digital borrower onboarding and management with no core software integration
  • Precision, 100% digital underwriting at the industry’s leading loss rates

Why it’s great
Community banks and credit unions struggle to make small business loans due to costly underwriting and core software integration. StreetShares Lending-as-a-Service technology solves this problem.

Presenters

Mark Rockefeller, CEO
Rockefeller leads the StreetShares team in its mission to help community banks and credit unions offer fully-digital small business loans to America’s main street businesses.
LinkedIn

Sanjay Bhaskar, Vice President, Development and Partnerships
Bhaskar focuses on identifying opportunities for community banks and credit unions to use StreetShares Lending-as-a-Service technology to offer fully digital small business loans.
LinkedIn

Embracing Wealthtech Innovation and Avoiding Dreaded Return on Inertia

The following is a guest post by April Rudin, founder and president of The Rudin Group, a firm that designs marketing campaigns for financial services companies.

Rudin will host the Wealthtech and Investech stream at the Summit, which takes place right after FinovateFall on September 26. The event also features an AI stream, which will be hosted by Lindsay Davis of CB Insights. Tickets are available as an add-on to FinovateFall or as a separate event.


Wealth management has entered the digital age. While it might not be readily apparent given the breathless coverage of whether and when the industry will cross the threshold, rest assured, the moment is here. The question is: Are all firms ready to seize the moment?

The financial services industry has been historically reticent to adopt new technology. And for good reason — finance, and wealth management especially — is a client-driven business where discretion is valued as much as — if not more than — financial acumen. In the early days of fintech, financial firms could rest knowing that they were keeping their client’s data and dollars safe rather than chasing the new, shiny tech toy on the block.

But now, financial service firms cannot afford to rest on their laurels and their patchwork of clunky, proprietary, tech solutions. Clients are used to being able to access the world at their fingertips and are no longer willing to let their financial data live elsewhere. And it’s not just Millennials and Generation Z demanding the convenience. Mobile Baby Boomers also want to be able to safely access their financial data with just a few clicks of a mouse whether they’re at home or traveling.

But despite the demand, companies still delay implementing new tech solutions, citing both perceived costs and compliance risks. While these factors shouldn’t be brushed aside, wealth management firms must find intelligent ways to power through.

Whereas firms once had the luxury of relying on the anticipated return on investment when deciding to embark on new technology products, a new ROI has entered the block: return on inertia. Put another way, what is the cost of doing nothing while rival upstarts and incumbents alike find ways to intelligently integrate technology into their firms?

It used to be that technology was housed only in the IT department of financial services firms. These were specialists who mostly loaded computers with new programs and knew how to troubleshoot when things went awry. But in today’s world, IT can no longer be thought of as an ancillary part of the business. Everything from onboarding, performance tracking, to investment recommendations has the ability to be touched by technology — freeing up time advisors can spend doing direct client work. The whole wealth management supply chain is being automated and firms must have tech specialists at all levels.

Does this mean that firms have to jump into tech willy nilly? Not necessarily, but the time of taking a wait and see approach for technology has also passed. The technology is here and clients demand it.

Waiting to implement technological solutions will only lead to otherwise avoidable costs and heightened risk exposure, Ernst & Young noted in a recent report.

Client onboarding is one area where tech is sorely needed. While some clients may appreciate the personal touch of in-office meetings to handle paperwork and account transfers, others may see the analog approach as a red flag. How does a paper-based business ensure the safety of client records, they may wonder. Video conferencing, online ID verification, and e-signatures are just a few of the ways the onboarding process can be made less cumbersome and client friendly while still falling inline with compliance.

From there, wealth management firms can consider implementing robo-advisor-like technology into their practice to facilitate decision making. The human touch will always be important for wealth management but tech-aided portfolio construction and reporting will allow advisors to have more meaningful discussions with clients, freeing up time for more customized solutions.

The ease of making and monitoring recommendations becomes especially important as high net worth families often have their assets spread across multiple investment types and financial institutions. While 10 years ago having a dashboard that can provide real-time data of those assets was once considered a novelty, clients now demand that rapid transparency.

Firms can no longer get away with listing the reasons not to embrace technology. And while risks to data integrity and security should not be minimized, firms will have to think of ways to buttress their controls while also directing their firms into the new era.

The return on investment may at first appear uncertain, but the return on inertia is definite — and bleak.


https://blogs.cfainstitute.org/investor/2019/02/13/2019-us-wealth-management-outlook-the-old-guard-and-fintech-cozy-up/

https://www.ey.com/Publication/vwLUAssets/ey-digital-disruption-in-wealth-management.pdf/$File/ey-digital-disruption-in-wealth-management.pdf

https://www2.deloitte.com/us/en/pages/financial-services/articles/digital-disruption-in-wealth-management0.htmlh

FinovateFall Sneak Peek: Illuma Labs

A look at the companies demoing live at FinovateMiddleEast on November 20 and 21, 2019 in Dubai. Register today and save your spot.

Illuma Labs’ Illuma Shield provides passive voice authentication for call centers. It reduces operating costs, enhances security against fraudsters, and eliminates friction from the customer experience.

Features

  • Reduce average handle time and operating costs
  • Enhance security against fraudsters and social engineers
  • Elevate user experience by eliminating friction in the authentication process

Presenters

Milind Borkar, Founder & CEO
Borkar has over a decade of experience spanning R&D and marketing, and leads the IP and business development activities for the company.
LinkedIn

Jeremy Whittington, Co-Founder & CTO
Whittington has over 20 years of experience architecting SaaS applications, and leads architecture and product development activities for the company.
LinkedIn