CEO Interview: Matchi’s David Milligan


Banks have problems. Innovators have answers. This is the way that Johannesburg-based Matchi, the online platform that pairs banks with relevant innovations, sees things.

Here at Finovate, fintech innovation is always on our minds, so we wanted to interview David Milligan, CEO of Matchi. Milligan has a passion for


innovation and has headed a number of innovation and new business units throughout his career. He has served as Matchi’s CEO since January of 2014. You can check out his LinkedIn profile here.

Finovate: Where did the idea for Matchi, a platform that matches banks with innovations, come from?
Milligan: The idea for Matchi came as a direct result of challenges encountered by our co-founder Warren Bond and me, in our respective histories. I ran innovation and new venture business units in a large bank for over 10 years, and Warren successfully launched and licensed technologies to banks. Both of us experienced first-hand how banks can benefit from working with smaller, more innovative fintech firms, but also how hard it is and how long it can take to do a deal with a bank.  
On the other side of the table, banks need consistent and clear approaches for sourcing and evaluating possible innovations, and anything that can extend their reach and help them find the next right thing is of great benefit. We realized that a global innovation platform that would assist innovators to reach the right people in banks globally, without having to pay high marketing costs, would fulfill a clear market need.
Finovate: What are the top three ways in which Matchi benefits banks?
Milligan: The top three ways Matchi benefits banks are:
    1. Connecting banks to the best innovations from around the world and giving them a way to curate
    2. Pro-active matching of innovations in the market in accordance to banks’ priorities   
    3. Banks can negotiate fees directly with innovators                    


Finovate: What trends are you seeing in fintech innovations?
Milligan: We have noticed an increasing demand for innovations that are designed for banks’ core purposes such as:
    • Managing and granting credit
    • Opening new accounts
    • Security solutions
Finovate: What types of metrics can you share? 
Milligan: We’ve doubled the number of banks on the platform since January of this year. To date, 30 banks from around the world have signed up as Matchi members, including banks from Europe, U.S.A., Asia, Australia, and Africa. This includes 3 Sponsor Banks across Spain, Sub-Saharan Africa, and Israel. 
Additionally, we are currently signing three to four fintech firms a week which ensures our banks regularly receive interesting value propositions.
Finovate: What’s the next development for Matchi?
Milligan: Increased functionality for Sponsor Banks as well as exciting new opportunities for innovators to respond to specific challenges as set by our Member Banks. We are also looking at developing Innovation Simulations for the workplace and will be hosting our first Innovation Sponsor Summit in December this year.
Finovate: What is your personal favorite innovation on the Matchi platform?
Milligan: There are many great innovations on our platform that span so many different areas, but one of my favorites is a solution that helps to prevent card fraud in a very unusual way.

To learn more about Matchi, check out its demo video from FinovateEurope 2014 or come see its new technology at FinovateFall 2014 in New York.

Alumni News– June 27, 2014

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgMatchi announces signing sponsorship agreement with Standard Bank Group.
  • Intuit’s PayByCoin integrates Quickbooks Online with Coinbase to allow merchants to accept bitcoin.
  • RevolutionCredit is among six startups presenting at the 2014 FinTech Innovation Lab in New York.
  • Trustly partners with PayPal to facilitate direct payments for online bank customers in Sweden and Denmark.
  • Acculynk joins with Navicure to offer payment platform for healthcare providers.
  • 500 Startups teams up with SeedInvest to raise money for $100 million Fund III.
  • A review of digital ID technology by the Economist includes a nod toward miiCard.
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.

Finovate Alumni News– March 20, 2014

  • Finovate-F-Logo.jpgMore than 25 banks have signed up for Matchi since its launch in November last year. 
  • American Banker looks at how Credit Karma and Credit Sesame provide more than just a credit score.
  • Thomson Reuters launches Know-Your-Customer service.
  • SecondMarket seeks to open Bitcoin fund to ordinary investors.
  • Pymnts features Feedzai’s CEO Nuno Sebastiao.
  • Striata unveils new logo, new website.
  • Fenergo appoints Oliver White to UK Head of Sales.
  • mBank and Orange partner to launch full-service, retail mobile bank in second half of 2014.
  • Narrative Science launches free app to turn data into readable documents.
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.

Finovate Alumni News– February 18, 2014

  • Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgScotiabank selects Fenergo’s regulatory onboarding solution.
  • FIS announces partnership with Microsoft Cybercrime Center.
  • Azimo credits Indian expansion for surge in new cash pick-up points.
  • Betterment, Personal Capital, Wealthfront featured in Boston Globe column on personal wealth.
  • DeviceFidelity unveils RF technology behind its latest stand-alone, NFC microSD card.
  • Find Biometrics interviews Toby Rush, CEO of EyeVerify.
  • Vincent Turner, Planwise CEO, gives a closer look at the Planwise Solid Earth partnership.
  • Forbes examines how CAN Capital reinvents financing for SMBs.
  • City of Prosser launches on doxo to simplify bill pay and add mobile interaction.
  • BillGuard now offering free card monitoring for unlimited number of cards.
  • Taulia triples revenue growth in 2013.
  • BlinkMobile enters Europe, eyes U.S.
  • Xero adds a new chairman, director, and CEO of North America.
  • Matchi hires new CEO, David Milligan.
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.

Matchi’s Innovation Matchmaking Platform Opens Channels of Communications for Banks and Innovators

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


Matchi debuted its platform that connects banks and innovators:
“Matchi is an Innovation Matchmaking platform for banks and innovators to establish collaborative relationships that deliver increased return on investment for innovators and banks alike. Matchi is here to open persuasive channels of communication so that both sides can benefit from the relationship.”

Additionally, Matchi announced today that it has signed a three year sponsorship deal for Spain with CaixaBank.

Presenting David Milligan (CEO) and Gerrit Hoekstra (CTO)

Product Launch: November 2013
Metrics: Privately owned company with 10-50 employees
Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B)
HQ: Hong Kong, China
Founded: 2013
Twitter: @matchibiz

FinovateEurope 2014 Sneak Peek: Part 1

FinovateEuropeButtonicon(highres).jpgFinovateEurope is almost a month away, and we’re well into preparing for the show, to be held in London on February 11 and 12 at the historic Old Billingsgate Market Hall.

Before we all gather around the demo stage, we wanted to give you a preview of what to expect. Below are the first six companies in our sneak peek series. Stay tuned for more! enables foreign exchange companies 


to compete for your business transfers.

    • Compare low-cost currency quotes, and book trades in one independent venue
    • 100% cost transparency, displaying side-by-side ‘sell’ and ‘market’ quotes
    • Post trade analysis; no more paper trails
Why it’s great:
Access foreign-exchange quotes from all your providers in one place. Execute your business trades at the best price at the click of a button.


Daniel Abrahams
Co-Founder and Head of Partnerships at Half Israeli, Daniel divides his time between offices in London and Tel Aviv. Mentor at Startup ABC & Personal Finance blogger.


Stevan Litobac
Co-Founder and Head of Product at CurrencyTransfer. Stevan has advised a number of early stage startups. Loves making things.

fastacash transfers value through social networks globally.

    • Addresses intersection of payments, social and mobile
    • Transfer monetary value and content across any social or messaging platform
    • Technology easily customized and embedded into partners’ solutions
Why it’s great:
Enables transfer of money, airtime, coupons and any other value across any social network or messaging platform.


Vince Tallent
Vince has extensive experience in the TMT industry with a global focus on mobile and payments.


Gilberto Arredondo
Throughout his career, Gilberto has been involved with new technologies and innovation by driving commercial and operational activities for telecommunications companies.


Jack Henry & AssociatesLuminous helps banks solve problems. It’s the ultimate financial innovations company with visionary products that are breakthroughs in sheer simplicity.

    • Virtual safety-deposit box 
    • Banking customers can upload, sort and store personal and business documents
    • Customers can automatically save and back up the latest version of important documents 
Why it’s great:
Customers can easily bank online with important documents automatically filed after just one click  


Andrew Teversham
As Chief Technology Officer for Luminous, Andrew heads up the development and implementation teams at Luminous and has gained extensive experience with SAP implementations over a number of years.


Phillip Wood

Phillip is a business development leader with 17 years’ experience in direct sales, business development and strategy in B2C and B2B across EMEA.

Matchi is an innovation-matchmaking platform for banks and innovators.


    • Unprecedented collaboration opportunities for banks
    • Marketing platform for innovators to showcase their latest innovations to banks 
    • A go-to-destination for market-ready, banking innovations online 
Why it’s great:
It’s an innovation-matchmaking site for banks and innovators globally.


Warren Bond 
Warren Bond, CEO of Matchi, is constantly looking for new ideas and ways to drive innovation and change in the banking industry.


Gerrit Hoekstra
Gerrit Hoekstra, CTO of Matchi, has been delivering embedded mobile and strategic enterprise-grade, big-data solutions for more than 25 years and is passionate about innovative technologies at all levels.

Tink is an innovative personal finance-management app which allows users to better understand how their money is spent. 

    • Making personal finance effortless
    • Consume data in a personalized feed 
    • Insights into your personal finance
Why it’s great:
Makes personal finance fun, beautiful and convenient for the first time! 


Daniel Kjellén, CEO and Founder 


Fredrik Hedberg, CTO and Founder


Toshl Finance Making finance fun. Helping people shake their finance-management indifference.
    • Funtastic finance management UI
    • Fully featured apps on phones, the desktop and everything in between
    • Available worldwide
Why it’s great: Making finance fun.  


Matic Bitenc
CEO, background in UX, international relations.


Miha Hribar
CTO, co-created numerous high-profile IT projects.

Innovations at FinovateEurope 2014: Part 2

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A week ago we introduced you to half of the companies that will be demoing their technologies on stage for FinovateEurope 2014.

Today we’re providing the second half of our scheduled roster for February.

For more information, and to get your tickets, visit our Finovate Europe 2014 page here.


Luxoft’s iStockTrack is an innovative iPad solution providing mobile banking services for private and premium banking clients.

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Matchi is an innovative matchmaking platform for banks and innovators to establish collaborative relationships that deliver increased ROI for innovators and banks alike.

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Meniga is Europe’s leading white-label PFM provider. The company helps banks improve their businesses through data-mining, cross-sales, and improved retention.


Mobino enables mobile payments for 5 billion people, from any phone, no credit card required.


The Moneyer is the future of online Personal Finance Management.

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Money on Toast delivers independent and whole of the market, FCA-regulated financial advice online via its algorithm-powered adviser.


MyOrder provides a m-commerce mobile app that serves businesses in parking, catering, and entertainment.

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myWishBoard is the first crowdfunding platform for personal dreams and wishes.

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NF Innova’s Personal Experience Module, a part of iBanking product suite, enables banks to offer their customers a truly unique and tailored user experience.


Nostrum Group has built a virtual collection product that automates and optimizes the delinquency management process.

Thumbnail image for nous_net_logo.jpg’s Spark Feed is a real-time financial data service that helps you understand and predict the markets.


payworks is the provider of a mobile POS, Software-as-a-Service platform that lets developers quickly build payment functionality into their shopper and merchant apps.

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PhotoPay’s technology allows users to extract data from any document, paper or electronic, enabling billpay on mobile devices.


Pixeliris’s CopSonic is the first universal contactless mobile payment system powered by our unique technology based on sonic communication.


Plutus Software’s KreditAja credit scoring system is designed to better serve the unbanked and underbanked in Asia.

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SaaS Markets is an enterprise cloud marketplace company whose MarketMaker platform helps FIs deploy their own branded, cloud-based business app store.

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SmartEngine stands for personalization and target marketing. As pioneers in the field of customer loyalty, Smart Engine is a driver of innovation and a leader in personalized target marketing.


SoftWear Finance’s HACU PLATFORM enables banks to provide customers with the best possible user experience on any platform or device.

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SQLI’s Augmented Banking is a new take at Online Banking. It is aimed at positioning a bank at the very center of people’s digital lives.

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Temenos’s Treasury Management Dashboard tablet app has been developed for Microsoft Windows 8 and enables the transformation of treasury operations.


Tink is a free personal finance service that allows you to follow your money, where ever you are.

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Tootpay’s solution is a mobile financial solution for payments, banking, telecommunications, and remittance industries.


Top Image Systems has leveraged its deep recognition and imaging expertise to develop a powerful suite of image processing applications for mobile devices.


Topicus Finan is a software vendor specializing in enterprise-level financial analysis. Its solution enables banks to provide self-service business lending processes for SMEs.


Toshl Finance is a personal finance manager made fun. Find out where your money is going, keep on top of bills and spending, and set up budgets.


Truphone, the innovative mobile operator, introduces the only global network-based recording solution for the Financial Industry.


Trustev provides a new approach to fraud prevention through a real-time, online identity verification platform, which ensures that merchants know exactly who they are selling to.


Yseop Sales Force Productivity Suite and its email writing application (YseMail) support financial advisors through the entire sales cycle.

Matchi Debuts its Global Innovation Community

This post is part of our live coverage of FinovateAsia 2013.


Second up, Matchi launched its global innovation community platform:
“A global community innovation platform for the financial services industry that offers market ready banking innovations from across the globe and collaboration opportunities that have the potential to save the banks millions of dollars in development costs.”
Presenting Warren Bond (CEO, Matchi) and Gerrit Hoekstra (Chief Technology Officer)
Product Launch: November 14, 2013
Metrics: Privately owned company with 10-50 employees
Product distribution strategy: Direct to Consumer (B2C) & Direct to Business (B2B)
HQ: Hong Kong, China
Founded: 2013
Website: Matchi.Biz

FinovateAsia 2013 Demo Companies Bring Global Innovation to Singapore

FinovateAsia is typically our most globally diverse show, and this year is no different. Two weeks from now, we will showcase 37 demos from companies spanning the globe that are innovating in everything from remittance to small business tools to back office solutions and much more. 

Given that diversity, we thought it would be fun put together a map showing the geographic spread of the demoing companies that will take the stage (click the map to enlarge).


Here’s the breakdown of the number of companies from each region:

  • Asia: 12
  • Europe: 11
  • North America: 9
  • Africa: 1
  • Oceania: 2
  • Middle East: 2

To refresh your memory, the list of the companies that we’ve hand-picked to show off their new technology at the Max Atria @ Singapore Expo on November 14, include:

  • Advanced Merchant Payments
  • App Annie
  • Arkalogic
  • ArthaYantra
  • Backbase
  • BehavioSec
  • BlueKite
  • BRIDGEi2i
  • CustomerXPs Software
  • DragonWealth
  • GMC Software Technologies
  • i-exceed
  • IND Group
  • Intuition Intelligence
  • KlickEx
  • Kofax
  • LifePAD
  • Luminous
  • Mambu
  • Matchi
  • Mistral Mobile
  • Mobexo
  • Mobino
  • Pangea
  • Payoneer
  • Pixeliris
  • Red Zebra
  • SaaS Markets
  • Serverside
  • Smart Engine
  • Tootpay
  • TradeNet
  • TSYS
  • White Label Personal Clouds
  • Yodlee

To see live demos of the new technology, meet the entrepreneurs responsible, and network with others in the industry, get your ticket to FinovateAsia here. If you have questions about the show, check out who is attending or email

Showing Our Age: A Look at FinovateAsia 2013 Demo Company Launch Timeline

At Finovate, we’ve seen how great innovation comes from companies of all ages. All we have to do is look at the Best of Show winners from FinovateAsia 2012. The founding dates of the winners ranged from 1858 (NAB, the parent company of UBank) to 2012 (SocietyOne).

We don’t know who will win Best of Show at FinovateAsia in Singapore this year, but looking at the launch date of the 37 companies taking the stage November 14, we found a 28-year spread. 

Here they are in reverse chronological order with funding amounts, if disclosed:

2013- 2012
  • BlueKite: 2013
    Total Funding: $1.5 million Seed funding
  • KlickEx: 2011
    Total Funding: $1.3 million
  • Mambu: 2011
    Total Funding: $2 million Series A

2007 or earlier
  • Yodlee: 1999
    Total Funding: $124 million
  • BehavioSec: 1998
    Total Funding: $2 million (€1.5 million)
  • Kofax: 1985
    Public LON: KFX

To learn more about each of these companies, check them out here and come see their live demos in Singapore on November 14.


All numbers and funding information sourced from