Kofax

Where the Alums Are: A Remembrance of FinovateSpring Past

By David Penn Posted on
Categories: Arxan Technologies, Balance Financial, Banking Up, Banno, Better ATM Services, Braintree, CardFlight, Encap, EyeVerify, Finagraph, Finect, FinovateSpring 2013, FinovateSpring 2014, GoodApril, IntelliResponse, Jemstep, Kabbage, Kofax, Leaf, LendUp, LICUOS, Lodo Software, MoneyDesktop, Mortgage Harmony, Narrative Science, NICE Systems, Oink, OneID, OpenCoin, P2BInvestor, PayNearMe, Prestadero, Quantopian, Realty Mogul, SeedInvest, Yseop, Zooz

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It is hard to believe that it is almost time for FinovateSpring 2014.

There’s still plenty of time for you to get your tickets to our upcoming event in San Jose, California on April 29 and 30. Our final Sneak Peek preview post is up, all the companies who were prepping under the radar are now out of stealth, and we can’t wait for you to see what this year’s spring crop of fintech entrepreneurs and innovators has in store.

Before we do, however, let’s take a moment to take a look back at last year’s FinovateSpring alums. As we scrolled through blog archives, several themes jumped out: the appetite for startups remains as passionate as ever, with three of our Spring 2013 alums being acquired by such financial sector potentates as Intuit and PayPal. And venture capitalists continue to see innovation in this space as a more than worthwhile investment, with 20 separate fundings for Spring 2013 alums

We’ve grouped the achievements into four categories: Exits, Fundings, Awards, and Acquisitions. Enjoy!
EXITS
  • Jack Henry buys Banno for undisclosed sum
  • The rumors are true: eBay’s PayPal acquires Braintree for $800 million in cash
  • Intuit buys tax planning/preparation specialist GoodApril
  • TaxAct acquires Balance Financial
FUNDINGS
  • CardFlight secures $1.6 million in seed funding from ff Venture Capital
  • Encap earns seven-figure investment from ProVenture Seed
  • EyeVerify earns $2.3 million in Series A funding
  • Jemstep raises $4.5 million in Series A round
  • Kabbage brings in $270 million in debt financing to provide small businesses with funding of their own
  • Kabbage brings in $75 MIllion in debt financing
  • Leaf raises $20 million from Heartland Payment Systems
  • Alternative lender LendUp raises $14 million in new funding
  • D3 Banking creator Lodo Software Brings in $3 million
  • Narrative Science secures $11.5 million in Series C funding
  • OpenCoin wins investment from Google Ventures, IDG Capital Partners
  • P2BInvestor raises $1.2 million in Series A round
  • PayNearMe leverages Family Dollar Partnership; raises $20 million
  • PayNearMe raises $10 million in Series D funding, launches Express Merchant Onboarding Option
  • Prestadero raises 5 million pesos ($400,000 USD) in first round of funding
  • Quantopian raises $6.7 million in Series A round
  • Realty Mogul raises $9 million in round led by Canaan Partners
  • SeedInvest raises $2 million in crowdfunded investment campaign
  • SeedInvest Raises $1 million in round Led by Jumpstart New Jersey Angel Network
  • Zooz Closes $2 million Series A round Led by XSeed Capital
AWARDS
ACQUISITONS
  • OpenCoin acquires SimpleHoney
  • Kofax acquires data integration software provider Kapow Technologies
  • NICE to acquire Causata to enhance customer experience management

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FinovateSpring 2014 Sneak Peek: Part 4

By David Penn Posted on
Categories: defi Solutions, Digital Retail Apps, FinovateSpring 2014, FinovateSpring 2014 Sneak Peek, Kofax, Rippleshot, StrategyCorps, Vorstack

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What’s the only thing better than getting to know 18 of the companies that will demoing at FinovateSpring 2014 less than a month from now?

Meeting six more.

Here’s the fourth installment of our FinovateSpring 2014 Sneak Peek series. In today’s edition, we’ll introduce you to a sextet of innovators in fields ranging from loan origination and in-store offers to mobile data capture, mobile banking, and mobile security.

If you missed any of our previous editions, the links below are a great way to get caught up. 
In the meanwhile, get ready to meet defi Solutions,Digital Retail Apps, Kofax, StrategyCorps, Rippleshot, and Vorstack. And to save your spot at FinovateSpring, April 29-30 in San Jose, California, click here to buy your ticket today.

defi_solutions_logo

defi Solutions takes auto lending to the next level with its SaaS Loan Origination System that can be configured and launched within days not months.

Features:
  • Affordable, enterprise system completely configurable for auto lenders of all sizes
  • Accesible from mobile devices
  • Browser-based solution allowing lenders to focus on lending v.s. technology
Why it’s great: 
defy Solutions SaaS Loan Origination System allows auto lenders to configure the system to meet market demands without costly development time.
Presenters:
Stephanie Alsbrooks, Founder
Founded defi Solutions with the mission to overcome the auto lender challenge of choosing between dated, inefficient, out-of-the-box systems and costly, long-to-implement custom solutions.
Chris Holt, Senior Engineer, Automation

Digital_Retail_Apps

Digital Retail Apps‘ SelfPay is a platform to engage in-store shoppers. Shoppers scan items, view product details, and pay for their purchases on their own mobile devices.

Features:
  • Locates and welcomes the shopper using Beacon technology
  • Integrates with POS and merchant account
  • Offers lineup-free payments via shopper’s own device
Why it’s great:
We give in-store shoppers a natural shop + pay flow and merchants a way to engage in-moment while collecting deep insights into shopper in-store activity.
Presenter:
Wendy MacKinnon-Keith, CEO/Founder
Innovating by pushing payments into the background. Speaker at events such as SXSW and CNP; consulted to IBM, Nokia, Safeway, and others.

KofaxLogolarge.jpg

Kofax’s Mobile Capture Platform is helping consumers better connect with retailers by automating the process of checking balances on their gift cards through the use of their smart phone or tablet.
Features:
  • Use mobile devices to automatically detect retail gift cards
  • Eliminate the process of manually entering accounts numbers
  • Give customers immediate access to account balances and other information
Why it’s great: 
The solution makes gaining access to gift card information more convenient for gift card issuers. It gives vendors a cost effective tool that helps them deliver better service and faster transactions.
Presenter:
Drew Hyatt, Senior Vice President of Mobile Applications
His team is responsible for driving the company’s mobile capture business on a worldwide basis.
StrategyCorps_new_lo_res_logo

StrategyCorps’ BaZing expands basic mobile and online banking, connecting them closer to the way consumers use mobile and online financial services in their everyday lives.

Features:
  • Hundreds of thousands of local merchant discounts at your fingertips
  • Location-aware coupons and targeted notifications
  • A mobile financial services customer experience beyond basic mobile banking
Why it’s great:
BaZing boldly goes beyond basic mobile banking, delivering in-demand services that connect better with consumers and how they use their mobile phones every day.
Presenter:
Mike Branton, Managing Partner
Rippleshot_logo_with_slogan

RippleShot detects credit card data breaches. Our cloud-based solution helps merchants and banks proactively stop fraud before it occurs.

Features:
  • Next Gen fraud prevention – stopping fraud before it occurs
  • 24/7 monitoring – detecting breaches faster
  • Early warning alerts – proactively protects merchants, consumers and credit card issuers
Why it’s great:
It’s not if you are going to be breached, it’s when. Rippleshot’s 24/7 monitoring proactively detects, mitigates and stops fraud before it occurs.
Presenters:
Canh Tran, Co-Founder and CEO
Has over 25 years of experience focused on big data and predictive analytics to solve sales, marketing, fraud and credit problems.
Lucas Ward, Co-Founder and COO
Is a proven technology leader. At Fundspire, Lucas created an innovative product to change the way hedge funds viewed and analyzed their data.

vorstack_logo

Vorstack combats cyber threats with automated and collaborative threat intelligence. Brand-conscious organizations will lower risk, save money and protect intellectual property.

Features:
  • Automated analysis and correlation of disparate cyber threat information
  • Coordinated threat intelligence with industry and peers
  • Fine-tuned configurable control over shared threat info
Why it’s great:
Vorstach lowers the probability and cost of a cyber attack through automation and coordination. You’ll save time and money, and protect your brand.
Presenters:
Joe Eandi, JD, CEO and Co-Founder
Has served on executive management teams and boards, and was an attorney with Wilson Sonsini.
Mark Manning, VP Technical Services
Has founded and advised numerous startups, and held management roles at Trust Digital, ORBID, Phoenix Technologies, and British Telecom.

Be sure to join us next week for another installment of our FinovateSpring 2014 Sneak Peek series.

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Finovate Alumni News — March 26, 2014

By David Penn Posted on
Categories: Boku, Digital Insight, Dynamics, Fidor Bank, Jumio, Kasasa, Kofax, MasterCard, MiiCard, ProfitStars, Xero, ZipZap
  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgProfitStars’ Gladiator ranks #36 in MSPmentor’s top 501 managed service providers.
  • Kofax Mobile Capture platform wins “Elegant Implementation” category of Housing-Wire magazine’s HW TECH 100.
  • Online TV host Doug Sleeter interviews Xero CEO, Rod Drury.
  • Jumio wins 2014 METAward in “established” category.
  • miiCard bringing its ID verification technology to eMerchantPay.
  • WTOP News asks: is the credit card with keypad from Dynamics is the “card of the future”?
  • MasterCard selects Anna Yip as head of Hong Kong and Macau.
  • Digital Insight to expand online banking portfolio to include shared access and small business payments. Come see Digital Insight demo at FinovateSpring next month.
  • Kraken, the digital currency exchange platform used by Fidor Bank, raises $5 million.
  • ZipZap pauses UK cash-to-bitcoin transfers through its platform.
  • Boku partners with sunhill technologies to enable direct global carrier billing for sunhill’s services.
This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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Kofax’s Mobile Capture Technology Unlocks Many Opportunities to Banks

By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateEurope 2014, Kofax
This post is part of our live coverage of FinovateEurope 2014.

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Then, Kofax demonstrated how its mobile capture technology can be used for everything from account opening to check depositing:
“Kofax is demonstrating how banks can enable customers’ mobile phones to capture documents in support of the onboarding and check deposit process. Customers are prompted to take a picture of a document and submit information, which is automatically extracted, validated for accuracy, and then utilized in the decision process. Kofax® is demonstrating how to engage the customer via the mobile device and allow the customer the ability to interact to open a new account, apply for loans, and deposit cheques with the snap of a photo.”
Presenting Drew Hyatt, SVP Mobile Applications

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Product Launch: February 2014
Metrics: Subsidiaries in 30 countries, >1,200 employees, 800+ channel partners, products available in 70+ countries, 20,000+ customers, London Stock Exchange & NASDAQ: KFX, $266.3M in revenue, $46.3M adjusted EBITA, $93.4M cash
HQ: Irvine, CA, USA
Founded: 1985
Website: kofax.com
Twitter: @Kofax

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Finovate Alumni News– February 4, 2014

By Julie Muhn (@julieschicktanz) Posted on
Categories: Banno, Finovera, Jack Henry, Kofax, Luminous, Nous.net, Pindrop Security, Refundo, TransferWise
  • Finovate-F-Logo.jpgNous makes it to the finals of UK’s Million Pound Startup competition. Check them out at FinovateEurope in London.
  • Luminous partners with Jack Henry & Associates. Come see them both at FinovateEurope next week.
  • Pindrop Security achieves record growth in 2013 fueled by rising phone-based fraud.
  • Sun Hearlad features Finovera as a new site to help manage personal finances.
  • In yet another partnership, Refundo partners with Stripe to process payments for tax preparers.
  • CNB Texas launches responsive design website from Banno for greater cross-sell potential.
  • Top-Five U.S. Bank makes million dollar investment in software licenses for Kofax’s Mobile Capture. Come see Kofax’s live demo at FinovateEurope.
  • VentureBeat lists TransferWise among London’s hottest startups.
This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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FinovateEurope 2014 Sneak Peek: Part 7

By Julie Muhn (@julieschicktanz) Posted on
Categories: Cardwise, Encap, FinovateEurope 2014, Innovation Agency, Intuition Intelligence, Kofax, SoftWear Finance, vaamo

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Before our team at Finovate packs their bags for FinovateEurope in London, we compiled the final seven glimpses of what presenting companies plan to show on stage at Old Billingsgate Market Hall on February 11-12.

If you missed the first six installments of our Sneak Peek series, you can view them here:

CardwiseLogo.jpg

Cardwise’s Xpenditure provides innovative expense management, eliminating your expense notes completely.
Features:
    • Integrated approval flow on expense level
    • Clear and user-friendly design
    • Intelligent scanning of receipts and statements
Why it’s great:
Finally easy expenses management for independents and bigger companies, also available via added value partners.

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Wim Derkinderen, Co-founder & COO

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Koen Christiaens, Head of product
 
 
 

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Encap Security’s Smarter Authentication is the world’s only software-based, banking-grade authentication technology that doesn’t compromise between security and user experience.
 
Features:
 
    • Non-OTP authentication for both web and native apps
    • Device authentication for low-risk transactions, and PIN for high-risk
    • Risk metrics: jailbreak detection; keystroke and behaviour analysis
Why it’s great:
To balance security and the user experience authentication must be proportional to activity. This is only possible by using software, data and a smart device.

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Thomas Bostrøm-Jørgensen, CEO
Thomas has over 10 years experience in the mobile financial services, identity management and mobile application security sectors.

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Adam Dolby is VP Business Development with 10+ years in authentication and security and 10+ years in financial services.
LinkedIn

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Innovation Agency’s Innovation Cafe is an Innovation management platform, based on the social-based innovation approach for driving collaborative, measurable innovation within the enterprise.
Features:

 

    • Transparent judging and online rewards process automation
    • Widgets and crowdsourcing from external platforms allow integration with Innovation Cafe and pushes feedback from clients into an internal Innovation Cafe instance
Why it’s great:
Innovation Cafe is primarily targeted at financial services organisations, and has been designed for adoption within these ecosystems.

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Rory Moore, CEO
Rory assists companies in reframing their businesses through innovation initiatives and has successfully implemented many innovation initiatives with a strong focus on social based innovation.
LinkedIn

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Sean O’ Reilly, CTO
Sean has great industry experience in creating software for innovation projects. He is enhancing his skill with a Masters Degree in Artificial Intelligence.LinkedIn
 

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Intuition Intelligence’s end-to-end card linked offers solution delivers super relevant offers to users from a huge volume of offers.
Features:

 

Why it’s great:
By learning user intent in click time, we deliver the right offers at right moment via digital channels without spam and friction in pre & post login.

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Arif Ansari
Keynote Speaker for Big Data & Predictive Analytics, Expert in multiple areas of advanced intelligent systems and Multiple Patent holder.
LinkedIn

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Yusuf Ansari
Entrepreneur with track record of achieving #1 Market Share, Visionary in building iconic products and Hands on execution and Product management.
LinkedIn

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Kofax is enabling customers to use mobile phones to interact with banks to open a new account, apply for mortgages, and deposit cheques with the snap of a photo.  
Features:

 

    • Meet and service the customer via the mobile channel
    • Reduce operating costs and minimize drop-off rates
    • Build competitive advantage while increasing growth and profitability
Why it’s great: 
Kofax Customer Onboarding improves the agility and profitability of your bank’s customer onboarding processes by engaging customers via mobile devices.

SoftwearLogo.jpg

SoftWear Finance’s hacu platform enables a bank to provide customers with the best possible user experience on any platform or device.
 
Features:

 

    • Easy integration with Facebook and Foursquare lets banks get to know their clients better.
    • hacu’s high performance is rapidly adapted to a bank’s requirements.
    • Speed and convenience
Why it’s great:
Sophisticated technology lets a bank promote its products and services with remarkable ease.  

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Pavel Malyshev, Co-Founder and CEO
LinkedIn
 
 

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Igor Dubovoy, Co-Founder and Head of Business Development

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vaamo is the new way of investing your money: easy, clever, and absolutely safe.
Features:
    • Focus on personal financial goals, not financial products
    • Save and invest money with just 3 clicks, anytime and everywhere
    • Neither investment experience nor financial advice required
Why it’s great:
vaamo fundamentally changes saving and investing by providing intuitive and profitable online investment management that focuses on planning, monitoring, and achieving your personal financial goals.

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Oliver Vins, Co-Founder and CPO
After advising banks for more than 8 years at McKinsey, Oliver aims at providing professional and fair investment products to everyone.
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Thomas Bloch, Co-Founder and CFO
Following 8+ years in financial institutions investment banking at J.P. Morgan, Thomas is dedicated to provide retail customers with investment solutions similar to those reserved for high net worth individuals.
LinkedIn

If you still don’t have your ticket to FinovateEurope, there’s still time. Get your ticket here and don’t miss out on the hottest innovations in European fintech.

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Finovate Alumni News– January 17, 2013

By David Penn Posted on
Categories: Acculynk, FutureAdvisor, Kapitall, Kofax, MiiCard, StrategyCorps, Tradeshift
  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgAcculynk announces patent for PIN based, online authentication.
  • St. Louis Business Journal takes a look at miiCard’s chances at winning the FStech Award for “most disruptive financial services technology.”
  • Kapitall launches bonus program; $200 and 2,000 koins for new accounts.
  • The Financial Brand features Strategy Corps‘ BaZing.
  • Management Today interviews with Christian Laang, Tradeshift CEO.
  • CNBC highlights FutureAdvisor and how it can help you save on fees.
  • Kofax today announces availability of the Kofax Mobile Capture Platform.
This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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Finovate Alumni Raise $825 Million in 2013, Up 79%

By Julie Muhn (@julieschicktanz) Posted on
Categories: Affinity Solutions, Apprenda, Azimo, Bill.com, BillFloat, Cardlytics, Check, Clover Network, CoverHound, Credit Karma, CurrencyFair, DeviceFidelity, Doxo, Dwolla, ERN, Fenergo, FinanceIt, Flint Mobile, FTRANS, Funding, Heckyl Technologies, Jemstep, Kofax, Kony Solutions, LearnVest, Lendio, LendUp, Meniga, Moven, Narrative Science, Numbrs, On Deck Capital, OpenCoin, P2BInvestor, Payfone, PayNearMe, peerTransfer, Personal Capital, Ping Identity, Prestadero, Prosper, Q2ebanking, Receivables Exchange, SafetyPay, SeedInvest, Socure, SoMoLend, Spreedly, SumUp, Swipely, Taulia, TradeHero, Tradeshift, TransferWise, True Office, Trustev, Tuition.io, Wealthfront, Wipit, Xero, Zooz

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Cheers to a new year! After ringing in 2014, we wanted take a look back at the capital raised by Finovate alumni in 2013. It was quite a year, with alums pulling in $825 million, $365 million more than in 2012 for an increase of about 80%.
2013 funding summary:
    • 62 companies raised $825 million
    • Q4 had the most capital, with a total of $294 million raised by 17 companies (more than half by Xero, which landed $150 million). 
    • October was the busiest month, with $177 million raised (mostly Xero’s $150 million)
    • May was second highest with $91 million raised by 7 companies
2012 comparison
Last year Finovate alums took in almost twice as much as 2012, when 44 Finovate alums collectively raised $460 million. The chart below shows the quarter-by-quarter comparison for both years.
2013YearEndTable.jpg
Quarter 1 — blog post
More than $155 million raised by 14 companies
January — $57 million raised by 6 companies
February — $56 million raised by 5 companies

March — $42 million raised by 4 companies


Quarter 2 — blog post
More than $205 million raised by 15 companies
June — $81.7 million raised by 6 companies
May — $91.5 million raised by 7 companies
April — $32 million raised by 2 companies

Quarter 3 — blog post
More than $171 million raised by 22 companies

July — More than $63 million raised by 8 companies
August — More than $26 million raised by 6 companies
September — $82 million raised by 9 companies
Quarter 4
More than $294 million raised by 17 companies

October— $177 raised by 6 companies
November — More than $87 million raised by 7 companies
December — More than $30 million raised by 6 companies

Note: Funding that companies received before they first appeared at Finovate was not counted. Questions? Comments? Email us at julie@finovate.com or david@finovate.com.

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FinovateAsia 2013 Best of Show: Kofax

By David Penn Posted on
Categories: FinovateAsia 2013, Kofax

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Best of Show: Kofax

Turning smartphones and tablets into “powerful customer engagement platforms” is the project of mobile capture specialist, Kofax. 

It is also the technology for which the company was awarded its first Best of Show trophy at FinovateAsia in Singapore in November.

Kofax Mobile Capture puts the company’s innovations in image perfection, data extraction, and validation technology to work at what the company calls the “point of origination.” By leveraging the camera technology on the average smartphone or tablet, Kofax empowers users to capture a diverse range of documents and data – including photographs – and transmit them securely and safely to business apps and workflows.

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To see Kofax’s Best of Show winning demo, click here.

Why They Won:
  • In an era of shoppers taking photographs of newly-empty cans and jars instead of scribbling out an old-fashioned grocery list, audiences see Kofax Mobile Capture and they get it. Finding new ways to put our precious smart devices to use will be a winning plan for innovators in the fintech space for some time. 
Bottom Line:
  • The big question for Kofax is how will they continue to leverage the functionality of smartphones and smart devices to make information and data travel more efficiently for consumers and businesses. Fortunately, the company provided a few clues in their demo – and a few more in our interview below.

DrewHyatt_Kofax.jpg

Interview with Drew Hyatt, Senior Vice President, Mobility, Kofax
Finovate: Why do you think Kofax won Best of Show at FinovateAsia 2013?
Drew Hyatt: Kofax Mobile Capture technology won because it’s a very unique solution that gives consumers the ability to turn the cameras on their smart phones into advanced, real-time scanning/input devices. 
This was the first time the solution was shown to the financial community in Asia and the response was incredibly positive. Attendees were very impressed with how the solution can scan a driver’s license or other forms of ID and documents, extract that data, send it back to consumers for validation, and then insert it into the systems of record or whatever type of workflow the financial institution is using. Once they saw the entire process in action, it all made sense.
Finovate: One of the concepts emphasized from the stage in Singapore was the idea of the expanding capabilities of smart devices, especially smart phones, as a key innovation driver, from document capture to authentication. Is there smart device functionality that has been overlooked and has yet to be tapped into?
Drew: Yes. What we’ve developed is still in the very early stages of implementation. Right now the camera is primarily being used to get information from documents and IDs. But in the future, we’ll be able to capture and extract critical data from images of objects and goods and services. 
We’ll also see more applications evolve as the processors in the mobile device become more powerful. Essentially everyone will have a very powerful laptop or server in their hands, which will enhance the types of features that financial institutions are able to offer customers.
Finovate: From the stage in Singapore, you teased a few features that you were not able to demo in the allotted time. Can you elaborate on some of those features and use cases?
Drew: One of those use cases was giving customers the ability to pay bills or enter bill information into the bank’s payment system. There’s a growing segment of consumers who don’t like to type information on computers and who just want to tap on options on their mobile devices. 
Kofax is eliminating the need to read, copy and type information from bills and enter data manually into fields. The technology is enabling consumers to automate the process and save time by simply capturing and extracting the information with one photo.
Finovate: What can we look forward to from Kofax over the next 3-6 months?
Drew: Kofax has a wide range of products it will be introducing in the near future. Most of these innovations center around expanding the use of consumers’ cameras to make their lives easier while making data capture and data management processes for financial institutions shorter, more efficient and more cost effective.

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FinovateAsia 2013 Best of Show Winners

By Julie Muhn (@julieschicktanz) Posted on
Categories: BehavioSec, FinovateAsia 2013, IND Group, Kofax, Yodlee

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FinovateAsia 2013 was quite a success. We just finished up the second annual FinovateAsia in Singapore. 

After the show, the audience selected their favorite of the 35 demo companies. The top four companies were named Best of Show, and took home a trophy.

The winners (in alphabetical order):

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BehavioSec, for its behavioral biometrics-based authentication method 
Live blog post
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IND Group, for its Essence mobile banking app, with detailed financial management tools
Live blog post
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Kofax, for its omni-channel solution that accelerates and enhances the underwriting process
Live blog post
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Yodlee, for the international debut of TANDEM, an app that helps groups manage and discuss shared finances
Live blog post
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All of the demo videos will be posted on Finovate.com in a few weeks.

Many thanks to the great audience that participated in this year’s event. Also, thanks to the 34 innovative companies who demonstrated their newest tech from the FinovateAsia stage. Keep the tech coming!

——————————————————————

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 four 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. 

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Kofax’s Solution Uses Multiple Channels to Enhance the Underwriting Process

By Julie Muhn (@julieschicktanz) Posted on
Categories: FinovateAsia 2013, Kofax
This post is part of our live coverage of FinovateAsia 2013.

KofaxLogo.jpg

Next, Kofax showed how its omni-channel solution accelerates and enhances the underwriting process:
“Kofax is demonstrating how lenders can engage borrowers directly on mobile devices enabling them to interact with the loan origination process. Specifically when loans are not in good order and trailing documents are required, the solution engages customers providing them multiple channels to accelerate and supply the complex underwriting process. 
While mobile is the preferred channel, an omni-channel approach is realized using web, email, or fax. Additionally as these supporting documents are processed, analytics technology provides real-time dashboards and visibility across channels of customer engagement and adoption highlighting patterns, trends, bottlenecks, and efficiencies for right channeling customers and improved decisions.”
Presenting Drew Hyatt (SVP Mobility) and Dimitri Snowden (Visual Strategist)
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Product Launch: March 13, 2013
Metrics: Subsidiaries: 30 countries, Employees: >1,200, Channel Partners: 800+, Products: Available in 70+ countries, Customers: 20,000+, London Stock Exchange: KFX, Revenue: $262.5M, Adjusted EBITA: $48.5M, Adjusted Diluted EPS: $0.38, Cash: $81.1M
Product distribution strategy: Direct to Business (B2B)
HQ: Irvine, CA, USA
Founded: 1985
Website: kofax.com

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Finovate Alumni News– November 8, 2013

By Julie Muhn (@julieschicktanz) Posted on
Categories: Backbase, Fidor Bank, Intuit, Kofax, Numbrs, ValidSoft
  • Finovate-F-Logo.jpgadesso to sell & implement Backbase’s Customer Experience Platform in Germany, Austria & Switzerland.
  • ValidSoft announces appointment of Paul Burmester as CEO. Pat Carroll to assume role of Executive Chairman.
  • Fidor Bank expanding into Russia through a joint venture Life.Sreda.
  • Numbrs, Kofax make American Banker’s “Top 10 FinTech Companies to Watch” roster.
  • Intuit announces partnership with American Express to support receipt data integration to QuickBooks.
  • La Caixa launches social network for its investors, StockTactics.
This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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