Trends at FinovateFall: The Big, the Small, and the Surprises

FinovateFall is happening in less than a month, and we’re taking a look at the fintech trends that will grace the stage over the course of the three-day show.

This year’s word cloud of themes hints at the major points the demoing companies will showcase on September 23 and 24, and leads us to the topics of discussion we’ll see on stage during the panels and keynote discussions on September 25. Register in advance to secure your seat at the show.

I’ve broken down this year’s trends into three groups; the big, the small, and the surprising:

The big trends

Artificial Intelligence (AI)
This is a trend that needs no introduction or explanation. We’ve seen AI come out on top as the largest trend in every Finovate conference this year, and next month’s show will be no different.

Data
Data is a necessary component behind two of this year’s hottest trends– AI and machine learning. And since banks have an overload of data that gets larger by the minute, the way that they manage data is just as important as how they use it.

Compliance
Buried within the regtech subsector of fintech, compliance is one of those topics that no one wants to think about but everyone needs to have a plan for. And these days, compliance is no longer just for banks. With bank-fintech partnerships on the rise, fintechs are increasingly expected to play by the rules, too.

Small but mighty trends

Chatbots
Chatbots may not dominate the conversation at FinovateFall this year but that doesn’t mean people won’t be talking about them. Customer experience is top on the minds of both banks and fintechs alike, and having a chatbot can ease a lot of headaches associated with taking care of customers, including lowering costs, offering the ability to scale, and providing a mobile-first solution.

Customer service
In many ways, 2019 is the era of the customer in fintech. We’ve seen both banks and startups throughout the industry refocus their solutions not only to attain new customers, but also to retain existing ones. As these efforts come to a head, investment in customer service solutions is at an all-time high.

Investing
Investment technologies experienced their hey-day in 2015, when the use of AI was in its infancy and new robo-advisors were launching every week. Now, after much consolidation, investing technology is making a comeback with more sophisticated AI advancements.

Surprising trends

IoT devices
Fintech may be all about technology, but the application of IoT devices has been slow to take off. Applications for Google Glass failed to prove valuable and the growth of Fitbit Pay remained stagnant. Today, not many new players in fintech have come forward.

Mobile wallets
Technology that was the hype of 2011, mobile wallets, are everywhere and no where. A lot of players offer them, including PayPal, Square, and most alt-banking services providers. However, mobile wallets have faded into the background of fintech hype as they have transitioned into a necessity for many players.

Insurtech
Unlike the previous two trends, insurtech is surprising not because it appears in the word cloud of trends we’ll see at FinovateFall, but because it appears to be such a small fraction compared to the size of other trends. The U.S. has never had a large number of insurtech players, especially compared to the U.K., but insurance is widely used across the country. Perhaps 2020 will mark the year of insurtechs in the U.S.

Analyst All Stars: Top Takes on Fintech’s Hottest Trends

Sometimes the best way to determine the latest trends is to ask the experts.

So that’s exactly what we’ll be doing at FinovateFall next month when three of fintech’s most renowned analysts take the stage to offer their take on what they see as today’s hottest trend in fintech.

Join us for the Analyst All Star session at FinovateFall next month; September 23 through 25 in New York (you won’t want to miss out; register today). Each analyst will have seven minutes on stage to describe their thoughts on what’s driving fintech innovation today. Here’s who you can expect to see on stage:

Alyson Clarke @alysonmclarke

Clarke is a principal analyst at Forrester. With more than 19 years of financial services industry experience, she is a highly skilled expert with extensive industry experience in both wealth management and banking. Clarke has global expertise, having previously worked at Forrester in the financial services vertical in Forrester’s Sydney, London, and San Francisco offices. She is now based in New York and specializes in digital and non-digital channel strategy and innovation. In particular, Clarke focuses on the sales, service, and customer experience of financial services and advice across online channels, smartphones, tablets, and branches.

Jacob Jegher @jjegher

Jegher is an experienced fintech executive and digital banking thought leader. He advises clients on emerging technologies and business strategies related to retail, small business, and corporate digital banking. Jegher provides strategic consulting to financial institutions and solution providers on issues ranging from digital strategy to vendor selection. In addition to his client-facing responsibilities, Jegher leads Javelin’s overall strategy, marketing, and product development efforts.

Most recently, Jegher was Vice President of Global Solution Marketing and Head of Analyst Relations at FIS, where he was responsible for marketing strategy efforts across all business units and solutions. Jegher also brings extensive expertise in the banking research and consulting field, having spent over 10 years as a Research Director at Celent.

Alissa Knight @alissaknight

Knight is a senior analyst with Aite Group where she is focused on researching cybersecurity issues impacting the financial services, healthcare, and fintech industries by assessing sector trends, creating segment taxonomies, looking at market sizing, preparing forecasts, and developing industry models. She provides market research, competitive intelligence, and consulting services in the cybersecurity market through unbiased, objective and accurate research and content development. Out of her research, Knight produces reports and white papers, as well as provides advisory services and often keynotes at cybersecurity conferences, seminars, and roundtables.

Knight also sits as the Chairperson on the Board of Directors for Brier & Thorn and was previously CEO of Applied Watch and Netstream.

Meet the Future of Fintech at FinovateFall Next Month in New York City

With many fintech fans still enjoying the last few days and weeks of summer vacation, it can be hard to believe that FinovateFall is right around the corner.

Our fall fintech showcase returns to the New York Marriott Marquis in Manhattan’s Times Square next month, September 23rd through September 25th. We will also feature a special Summit Day on September 26th, not covered by the general admission ticket, that will have a focus on artificial intelligence and wealthtech.

Find out more about our conference agenda, including how to register and save your spot. Pick up your ticket by Friday, August 16th and take advantage of early bird savings.

Get to know FinovateFall’s demoing companies in our Sneak Peek series

Over the next few weeks between now and our annual autumn event, we’ll profile the companies that will demonstrate their latest technologies live on the Finovate stage as part of our FinovateFall Sneak Peek series. Find out how some of our industry’s most ambitious startups and innovative veterans are shaping the future of fintech today.

And to help you get ready for FinovateFall beyond the demos, the Finovate blog will also feature profiles of our conference speakers, and an advance look at some of the topics that will drive our keynotes and panel discussions at the event.

More details on FinovateFall are available at our conference page. Check out the full list of demoing companies, our keynote speakers and deep dive sessions, as well as information on how to plan your visit. If you have any questions, send us an email and we’ll get back to you as soon as we can.

What’s Trending Across Fintech Verticals

With such a fast news cycle in fintech, sometimes it’s helpful to dissect the news based on verticals; looking at them each independently. And we’ve done just that. Here’s a quick synopsis of what’s trending among six fintech verticals.

We’ll be taking a closer look at each of these topics at FinovateFall (September 23 through 25 in New York), where the brightest minds in fintech will discuss what you need to know about the latest news during our breakout streams. Register today to save your seat.

Challenger banks

Challenger banks got their start during the 2008 financial crisis after consumers lost trust with mega banks and began looking for an alternative. Recently in this space, we’ve started seeing U.K. banks make inroads into the U.S., where there is less competition for non-traditional banking providers. After amassing a waitlist of 100,000 U.S. consumers, German challenger bank N26 launched in the U.S. this July. A few weeks earlier, Monzo also announced a U.S. expansion after amassing a user base of 2.2 million customers in the U.K.

These non-traditional banks are also experiencing a funding boom. Last month alone brought major funding rounds to three challenger banks. U.K.-based Atom raised $60 million at a $644 million valuation, N26 raised an additional $170 million investment at a $3.5 billion valuation, and MoneyLion raised $100 million at a valuation of almost $1 billion. And in June U.K.’s Monzo raised $144 million at a $2.5 billion valuation.

Geographical expansion and strong investor confidence in this space indicate it is ramping up, and we can expect more competing challenger banks to enter the arena soon. The influx of funds also brings the likelihood that, as the startups continue development efforts, new products and features may be on the horizon.

Regtech

In the past, regtech has been looked at as the ugly cousin within fintech sub sectors. While not as sexy as investing technology, this vertical has seen increased popularity as of late. With the API economy making bank-fintech partnerships the new norm, regulators are begging for oversight and regulation-as-a-service companies have stepped in with the solutions banks need to stay compliant.

Similarly, as enabling technology expands, so does the need for regulation. Fortunately, along with this need comes the advances in technology for the regtech sector itself, which has benefitted from increased automation and scalability as AI and machine learning gain traction and become more accessible for firms.

Open banking

The final deadline for PSD2 is looming. September 14 is the final deadline by which all EU companies must comply with PSD2’s regulatory technical standards and impose strong customer authentication methods. This has sparked a lot of recent conversation as it has been reported that 41% of EU banks missed the original deadline. And the stakes are high– not only can regulators impose fines, they can also revoke payment providers’ licenses.

Customer experience

Last fall the hot button topic was customer experience. Since then, there have been endless debates on Twitter and the blogosphere on the necessity of bank branches. Some argue that online and mobile channels are the best avenues to serve consumers whereas others contend that physical bank branches are essential to maintain a personal connection with customers. The biggest voice in this debate, however, are the numbers. According to the Financial Brand, 81% of banks and credit unions do not plan to close any branches this year.

It’s hard to talk about the customer experience without bringing up chatbots. The AI-powered technology can be used to scale and humanize the online experience. Not only have we seen an increase in chatbot technology providers, we’ve also been seeing more companies build chatbot capabilities into their own apps.

Banking and payments

It’s true that banking and payments is almost too broad to be considered a vertical of its own. And with such a big category, it can be difficult to narrow down current trends. One topic that has been bubbling up lately, however, is the need for real-time payments in the U.S. Just a couple of days ago, the Federal Reserve announced it will develop a real-time payment and settlement service, called FedNow, that will support faster payments in the U.S.

Voice banking technology has been another widely discussed topic among banks, fintechs, and analysts in the past few months. With voice assistants such as the Amazon Echo, Google home, and Apple’s Siri becoming commonplace in homes, consumers are getting used to asking their AI assistants for answers to quick questions. However, the possibility of using the technology to conduct day-to-day banking activity hasn’t been on consumers’ radar– that is, until recently. On July 1, the classic game of Monopoly released a voice banking version that eschews paper currency. Instead, Rich Uncle Pennybags (the Monopoly man) manages the players’ money. When consumers get used to using voice technology in a game, they will soon be looking for it in their real bank.

Wealth management

Wealth management and roboadvisory technologies haven’t changed dramatically since 2015, the height of the roboadvisor boom. However, in the past few months some wealthtech companies have been broadening their offerings to compete with traditional banks. Betterment, Wealthfront, and SoFi, for example, have all launched checking accounts. Many firms have also unveiled additional capabilities, as well, such as tools for trusts, donation features, 529 plan options, and more.

And as AIs get smarter and work harder, there will be a backpedaling of pure roboadvisory plays. Many wealthtech companies already offer a hybrid option that combines roboadvisor tools with advice and guidance from human advisors. The human touch will rise to the top as a must-have option as consumers manage their nest egg.

Finalists Announced for the First Ever Finovate Awards!

September 24, 2019
Edison Ballroom | New York

We’re delighted to announce the finalists for the first ever Finovate Awards! We were amazed by the number of quality entries, and paring the field down to the short list in each category was no easy feat. And of course it doesn’t get any easier for our impressive team of judges, who now have the challenging task of selecting a single winner in each category.

We’ll be announcing the winners at a gala dinner taking place on September 24 (the middle night of FinovateFall) at the Edison Ballroom in Manhattan. In the meantime, please join us in celebrating the individuals and companies who have made it to this stage.

Don’t miss out on the chance see which individuals, companies, and technologies take top honors. Individual seats, half-tables, and full tables are all available for purchase. If you’d like to learn more about how to attend click here for more information or email India.Thomas@knect365.com to reserve your table.

Pepper Power: HSBC Brings Robot Retail Banking to FinovateFall

Is HSBC’s Pepper the best bot in banking?

Attendees at FinovateFall in New York this September will have an opportunity to judge for themselves as the social humanoid robot, Pepper, makes its Finovate debut. Following our Innovation Keynote on Wednesday, September 25th, attendees will have the opportunity to meet, greet, take selfies with (#PoseWithPepper), interact with, and see Pepper’s capabilities and customer journeys for themselves.

Developed by SoftBank Robotics, Pepper has been deployed at HSBC banks across the U.S. Pepper was first launched at HSBC’s flagship Manhattan branch, and has been rolled out to locations from Miami, Florida to Seattle, Washington. The technology has been credited for gains in everything from ATM transaction volume to new credit card applications.

“As we’ve already seen in HSBC’s Fifth Avenue, Beverly Hills and Seattle branches, Pepper provides services that truly elevate the retail banking experience for both visitors and staff,” Head of Marketing and Business Strategy for SoftBank Robotics America Kass Dawson said.

And in a world in which robotic technologies are often referred to simply as “bots,” and appear to most consumers as mere animations on a digital screen, the arrival of Pepper is both a throwback and a vision into the ways new technologies will enable new forms of banking. Dawson referred to Pepper as a “unique banking experience that is enriched by human-robot interactions.”

HSBC Head of Innovation Jeremy Balkin, who will address FinovateFall this year, explained how Pepper fits in with what he referred to as the “Branch of the Future.” Comparing the rise of robotics in banking to the advent of the smartphone, Balkin said that giving customers products and services that leverage these technologies is key to delivering the digital experience consumers increasingly expect from all service providers.

“By creating these revolutionary new types of digitally enhanced retail banking experiences that use data intelligence and leading edge robotics,” he said, “HSBC is transforming the everyday task of a branch visit into a memorable and extraordinary experience.”

So what does Pepper do? With the ability to provide information on 300 different actions ranging from account opening to applying for a credit card, Pepper performs in three main areas:

  • Attention Please! Pepper helps reduce customer waiting time by communicating directly with bank staff based on customer responses to qualifying questions.
  • Education and Empowerment: Pepper informs customers on the latest available technologies, products, and services such as ATMs, the bank’s mobile app, and self-service options.
  • Product and Service Awareness: Pepper boosts awareness of the bank’s products and services, especially special promotions, by facilitating more productive interactions with HSBC Relationship Managers.

In an extensive feature on Pepper last month, The Financial Brand’s Bill Streeter noted Pepper’s talents: “It uses natural language processing, a component of artificial intelligence to understand multiple languages,” he wrote. “(Pepper) is said to be capable of recognizing basic human emotions and adapting its behavior to what it perceives.”

Streeter quoted HSBC Bank USA’s Head of Retail Banking and Wealth Management for the U.S. and Canada Pablo Sanchez who was blunt in describing Pepper’s ability to move metrics positively. “Unless the robot adds value then it is a gimmick,” he said. “But we knew it was going to help us. We just didn’t realize it would get a billion hits and would increase sales so much.”

To learn more about the technology behind Pepper, visit SoftBank Robotics. And to see Pepper in action for yourself, visit our FinovateFall registration page, pick up your ticket, and reserve your spot at the show.

Announcing Startup Pitches at FinovateFall 2019!

We’re excited to announce that Finovate is offering pitch sessions exclusively for early-stage startups! This is a brand new initiative from Finovate, and we’re seeking cutting-edge companies focusing in AI or Wealth Management for 3 minute pitches at FinovateFall’s Summit Day.

For less than the price of a single ticket, seed-stage startups will receive a three minute pitch on stage, a dedicated space at the Startup Pitch Bar, access to our powerful networking app, and a ticket to attend the full conference. In order to qualify, companies must be a pre-seed fintech with less than $100k in annual revenue and less than $1M in total funding.

Finovate has always been a powerful platform for promoting new financial technology innovations, and we want to make sure that our show remains accessible for the new companies that represent the bleeding-edge of the industry. We expect startup pitch slots to fill up fast so act now if you want to get involved! Visit our website for more information, or email dominika@finovate.com.

Helps Us Raise the Female Quotient at FinovateFall

There’s one perk that comes with working as a woman in a male-dominated field– there’s never a line for the ladies restroom. In fact, at a handful of Finovate conferences, we’ve had to convert some of the women’s restrooms into men’s rooms in order to make a the wait time for the men more reasonable. When that happens, you know there’s a problem– one that goes beyond toilets.

Lack of workforce diversity has many drawbacks, the most obvious of which is the gender pay gap. According to the film Equal Means Equal, a documentary that looks at how women in the U.S. are treated today, “Compared to white men, white women working full time, based on median annual full-time earnings, earn 78 cents to every dollar a man earns.”

In an effort to help tip the scales of the gender ratio and bring awareness to the wage gap, Finovate is offering female registrants tickets to FinovateFall for 78 cents on the dollar. That means women who register by this Friday, July 26, can purchase a ticket to FinovateFall for 22% off just by entering the code EQUALITY on page two of the booking form.

Here are a handful of speakers who are helping to bring the female quotient up a notch at FinovateFall this year:


The conference takes place September 23 through 25, with an additional summit day on September 26, at the New York Marriott Marquis.

To take advantage of this offer, book online today with code EQUALITY, contact our customer service team at +1 (888) 670-8200, or register@knect365.com. Rooms can be reserved at the New York Marriott Marquis.

‘Tis the Season for Product Launches!

Fall has become synonymous with product launches, and this year’s demoing companies will deliver.

This September at FinovateFall, see dozens of new fintech services and solutions, including: retirement tools for wealth management advisors, data breach response plans for businesses of all shapes and sizes, API libraries for digital banking, portfolio aggregators to help investors, colleague planning tools for financial advisors, chatbots to better engage customers, and more. All 75+ products will be showcased through live, seven-minute demos.

Learn more about the first wave of companies now. And remember that tickets to FinovateFall are available online and you can save a whopping $1,000 when you book by July 12.

First Wave of Demoing Companies


Stay tuned — more companies to be announced!
ALTR is a transformative data security platform that protects against insider and human threats to data using intrinsic security and integrity properties of blockchain.
ARM Insight‘s innovative data refinery engine securely monetizes data for financial institutions and payment processors.
Bambu‘s API library for digital wealth technology reduces the cost and time to market for financial services firms.
BidMoni‘s integrated end-to-end 401(k) solution targets the lack of fiduciary-focused 401(k) technology for financial execs and VCs
BlytzPay‘s text-to-pay solution is a mobile point of sale delivered directly to a customer’s phone that meets the need for real time payments and communication for all types of billers and payers.
Boost.ai‘s conversational AI solution uses intelligent virtual agents that can be continuously trained and improved and that seamlessly hand off conversations and customers to humans when appropriate.
Breach Clarity uses dynamic algorithms, a design-forward UI, and deep research experience as an expert witness in all large data breaches to demystify response plans to the current epidemic of data breaches for consumers and their financial providers to reduce their risk of becoming a fraud victim.
Chatbots.Studio‘s platform digitalizes communication between small enterprises, like coffee shops and barber shops, and their customers using a cloud marketplace of commercial bot templates for iMessage and other smartphone messengers.
Cinchy is a real-time Data Collaboration Platform used by enterprise financial service providers to solve data integration, data access, data governance, and solutions-delivery challenges. The results are accelerated projects, more secure services, and vastly reduced development costs.
College Aid Pro combats the student loan crisis using late stage college planning strategies to enable families and their financial planners make educated and financially responsible college decisions.
Datanomers‘ Customer Insight Manager uses AI to provide comprehensive customer insights and preemptively detect churn for banks, credit unions, and other financial institutions.
ebankIT uses out-of-the-box digital channels for bank and credit union digital transformation.
Edmit‘s Edstimate® algorithm targets the student loan crisis by pre-emptively estimating college cost and future earnings for high school students and their families.
Eigen Technologies‘ natural language processing software uses machine learning to analyze qualitative data for banks and other organizations.
Envestnet | Yodlee has developed a solution to solve for consumers managing complex financial lives, it enables FIs and FinTechs to provide their consumers with the ability to curate and create their own financial insights based on their individual needs, using comprehensive and accurate financial data, analytics, and conversational AI.
Flybits‘ easy-to-use digital experience platform solves the challenges of developing and implementing AI and machine learning capabilities for marketers, customer experience leaders and creative teams in financial services.
Glance‘s Mobile App Sharing utilizes in-app visual engagement to improve customer service and support within financial service mobile apps.
Glia‘s system of engagement uses a combination of technology and the human touch to solve complex online inquiries for large enterprises.
Illuma Access is a voice authentication service for identity and access management for finance and insurance applications relying on voice as an actionless, efficient, and privacy compliant implementation.
Insuritas‘ ilnsure platform builds a new source of value-added, annuitizing fee income for FIs and their retail and commercial customers that promotes customer share and retention through offering Property, Casualty, Life, Accident and Health Insurance.
Intellaegis‘ masterQueue software uses AI to solve the complexity of collecting debt for large financial institutions and their party vendors.
InterGen Data‘s personal financial health and wealth operating system uses AI-based machine learning and a digital advisor cash flow forecasting widget to preemptively measure the economic impact of major life events of banking industry clients so that they can make well-informed financial decisions.
JSOL‘s AI-based business forecasting technologies for financial institutions resolve the delay in analysing corporate credit ratings and growth and decline of businesses.
Kindur combats the modern retirement crisis by providing a variety of wealthtech, insuretech, and other cutting-edge fintech products for the baby boomer generation.
Meniga‘s SaaS solution increases the intelligent capabilities of data usage for banks to make people’s lives and world a better place.
NYMBUS‘ SmartLaunch enables financial institutions to rapidly transform into fully operational, digital-only banks without converting their legacy technology.
Persistent‘s Conversation Round-About technology solves the problem of frequent redirection of retail banking and insurance customers to call center human agents when they are chatting with a bot.
Plinqit Build Skills improves the financial literacy of millennials using relevant, paid, education-focused content.
Qwil Messenger is a global client chat platform that enables safe and compliant business conversations for all professional service organizations from one single app.
SalaryFits‘ platform tackles the issue of financial exclusion and abusive pricing for employees of big corporations and SME’s around the world using salary deduction technology that offers more sustainable financial products.
Stratifyd‘s unsupervised and supervised AI workflows analyze and automate omni-channel Voice of the Customer for financial experience and digital transformation teams.
SwapsTech‘s Galaxy Banking platform modernizes open banking by delivering treasury services to banks extremely quickly.
Trulioo‘s global solution solves cross-border compliance pain points with scalable, future-proof technology for banks and fintechs.
Utluna‘s web application collects, aggregates and analyzes data relating to multi-asset class, multi-currency, multi-broker portfolios using financial institutions’ and market data providers’ APIs.
ValidiFI’s Payment Risk Optimizer is a payment processing service for fintech companies that targets ACH returns and card declines.
VeriTran’s low-code, omnichannel and open platform lets users deploy faster and better digital applications for banking and payment solutions.

Interested in demoing? Reach out to fall@finovate.com.

Cutting Edge Fintech in the World’s Financial Capital – Get Involved Now!


Save the date for FinovateFall 2019! We’re returning to The Marriott Marquis in Times Square this September 23 through 26 with a showcase of fintech solutions, insights that deliver real-world value, and meaningful connections with senior financial decision makers.

Witness exciting new technologies via our signature live 7-minute demos (no slides or canned video allowed!). Following the demos, our innovative speakers share success stories and lessons learned to help make those solutions a reality within your own organization. Plus, don’t miss the add-on Summit Day that takes a deeper dive into Artificial Intelligence and Wealthtech & Investech.

With 75+ demoing companies, 120+ expert speakers and more networking opportunities than ever before, no other event gives you as much insight from start-ups, tech giants, large FIs, community banks and credit unions – from New York City and beyond.

FinovateFall by numbers

FinovateFall fintech innovation event


Get involved now!

Want to demo?

Demo your latest fintech innovation on stage and show the audience of 1500+ senior finance executives how you can help their business.

At your exhibition space, meet the bankers and investors who can grow your business.

Why you should demo at FinovateFall in 60 seconds – watch now

Demo your fintech innovation


Want to sponsor?

Stand out from the crowd and win new business from C-level executives from financial institutions.

Align your brand with innovation and the fintech growth story.

Demonstrate your thought-leadership to Finovate’s event audience and digital community of 300k fintech professionals.

Sponsor FinovateFall fintech innovaton event


Want to speak?

Would you like to get your voice heard by the cream of the North American fintech community? You only get one chance a year to be heard by 1,500+ leading fintech experts in the world’s financial capital – now’s the time to get in touch.

Please reach out to Laura Maxwell-Bernier now to inquire about speaking or moderating.

FinovateFall fintech event agenda


Want to connect with 1,500 decision makers?

FinovateFall makes it easy to connect with the people that matter to you. This is your chance to speak directly to innovators behind the most exciting tech in finance.

The event app suggests relevant attendees based on your business needs and offerings. Create quantifiable business opportunities with returns you can measure.


Book now at lowest price – save up to $1,500

If you’d like to attend as a delegate, book online here today or contact our customer services team at +1 (888) 670-8200 or register@knect365.com.

Hope to see you in New York in September!