Maybe you missed your chance to attend FinovateFall earlier this month. Or maybe you want to watch your favorite demos over again. Either way, today’s your day. We’ve just released all of the videos from the 75 companies that demoed their fintech on stage.
The votes have been cast and the ballots counted. And after two days of live fintech demos from 75 innovative companies, here are the best of the best: the companies our attendees have deemed FinovateFall’s Best of Show.
BlytzPay for its text-to-pay solution that makes billing and communication simple, streamlined, and secure while providing flexibility to pay by card, check, or cash.
Cinchy for its Data Collaboration Platform that lets data work the way it should: connected, controlled, and accessible for real-time collaboration.
College Aid Pro for its innovative technology, supported by a community of financial advisors, that changes the way America shops for college.
ebankIT for its omnichannel digital banking platform that helps banks and credit unions transform their businesses.
Glia for its technology that creates digital-first moments that simplify and transform communications between businesses and their customers.
MX Technologies for its platform that helps financial institutions and fintechs quickly and easily collect, enhance, analyze, present, and act on their financial data.
owl.co for its instant KYC/AML tool that automates enhanced due diligence on both individuals and companies.
Pinkaloo Technologies for its solution that helps financial institutions attract and retain customers and increase deposits and fees by powering their customers’ charitable giving.
Zogo Finance for its technology that leverages partnerships with financial institutions to reward kids for learning financial literacy.
Those in attendance at this year’s FinovateFall can attest to the energy and enthusiasm that characterized our conference this week. Congratulations to all 75 of the companies that demonstrated their fintech innovations on stage and a heartfelt thanks to our partners, sponsors, and onsite tech team for making this year’s autumn event a smashing success.
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 nine 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 through 2014. Best of Show winners from our 2015 through 2019 conferences are below:
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.
MX is the leading data platform for banks, credit unions, and fintechs, empowering customers to easily collect, enhance, analyze, present, and act on financial data.
MX Enabled is a centralized data platform that rapidly integrates amazing fintech companies to thousands of banks and credit unions creating faster time to market and reduced costs.
Why it’s great MX Enabled connects fintechs and financial institutions to a world of innovation through enhanced data.
Brandon DeWitt, CTOand Co-Founder DeWitt is the co-Founder and CTO of MX. Prior to MX, he co-founded MyJibe, a personal financial management company, acquired by MX in 2012. DeWitt formerly worked at Baker Hill and Experian. LinkedIn.
Cosme Salazar, Product General Manager Salazar is a Product General Manager over APIs and the MX Enabled platform. He has worked in product management for over ten years including time at Instructure and Amazon. LinkedIn.
Less than a month after securing a $37 million debt financing from BMO’s Technology and Innovation Banking Group, mobile application development platform Kony is back in the fintech headlines with even bigger news: the company has agreed to be acquired by digital banking technology giant and fellow Finovate alum Temenos for $559 million and an earn-out of $21 million.
The acquisition will bolster Temenos’ ability to compete in the digital front office solutions market, specifically strengthening the company’s Infinity offering – which currently has more than 500 banking customers and is widely recognized as a leading technology by industry analysts from Forrester and Gartner. Kony Chairman and CEO Thomas Hogan will serve as President of Temenos North America, post-acquisition, and will join the company’s Executive Committee.
“The power of the Temenos portfolio, combined with Kony’s digital banking applications and multi-experience development platform, will bring the industry’s most robust suite of applications for delivering service, value, and efficiencies from the digital edge to the modern core,” Hogan said. “The strength, scale, and commitment of Temenos will also help protect and extend our market-leading innovation.”
The acquisition is expected to be completed by Q4 2019, and is subject to standard regulatory approvals.
Calling Kony the #1 SaaS digital banking company in the U.S., Temenos CEO Max Chuard highlighted the synergies between Kony and his company. “We are acquiring a digital front office product that has already been successful in the U.S. market and is connected to most third party cores,” Chuard said. “We are also adding a significant amount of exciting functionality and ease of generating customer journeys and experiences that will accelerate Temenos Infinity, providing banks in both North America and internationally with an unrivaled customer experience and omnichannel banking product.”
A long-time Finovate alum, Kony first demonstrated its technology at FinovateFall 2010, and returned to the Finovate stage two years ago for FinovateFall 2017 to present its retail banking solution. Founded in 2007 and based in Austin, Texas, Kony launched its Conversational AI DevKit earlier this month to enable businesses to deploy new technologies to improve customer engagement. In May, Kony announced that its Quantum digital experience development platform would power the new CareLogic mobile app from Qualifacts, and unveiled a new partnership with multiple Finovate Best of Show winner and fellow alum, MX.
Headquartered in Geneva, Switzerland, Temenos demonstrated its Connect Mobile Banking solution at FinovateEurope 2015. The company is also an alum of our developers conference, having presented its B2B Financial Marketplace at FinDEVr Silicon Valley – also in 2015. More than 3,000 banks in 150+ countries – including 41 of the top 50 banks – rely on Temenos’ banking technology to process the daily transactions and interactions of more than 500 million banking customers.
Kony is the second major acquisition by Temenos this year. In July, the company announced its purchase of explainable AI innovator Logical Glue and plans to integrate the company’s machine-learning-as-a-service technology into its cloud-native banking solution. Aside from acquisitions, Temenos has been on an energetic partner-making pace, working with IIG Bank, who agreed to use the company’s Infinity digital front office platform earlier this month; as well as teaming up with FIs like Israeli bank Mizrahi-Tefahot, New Zealand’s TSB Bank, and Pakistan’s Bank of Khyber.
Fresh from being showcased by Forbes in its Next Billion Dollar Startups 2019 feature last month, PFM app Dave has partnered with leading financial services data platform MX, and will leverage the company’s technology to help users better analyze their expenses and manage their finances. The app, which has more than 3.5 million users, helps with budgeting and building credit, and improves cash flow by helping users access short-term financing between paydays. And rather than charge fees, Dave users pay for the service on a “tip-based model.”
“The deliberate approach Dave has taken to empower greater financial strength and solve the pervasive financial pain point of overdraft fees is inspiring and exactly the kind of innovation MX loves to enable through its highly available and augmented data platform,” MX Chief Customer Officer Nate Gardner explained.
Described as the finance version of David taking on the Goliath of the big banks, Dave was launched in 2016 by Paras Chitrakar, John Wolanin, and current CEO Jason Wilk. The app was named App of the Day at the Apple Store in the spring of 2017, and has been downloaded nearly 10 million times. In Forbes’ profile of the company last month, the authors noted that Dave had raised $13 million in funding, and estimated the company’s 2018 revenues at $19 million. Mark Cuban is among the company’s investors.
MX demonstrated its latest innovations at FinovateFall 2017, where it presented Discovered Accounts, a solution that helps financial institutions maximize the personalization opportunities that exist within transaction data. The company is a multiple time, Finovate Best of Show winner, having been honored by Finovate attendees six times since their Finovate debut in 2014 (as Money Desktop).
In June, MX announced a major funding, picking up $100 million in a round led by Battery Ventures. The additional capital took MX’s total financing to $175 million, and will help fuel product development and the hiring of what MX founder and CEO Ryan Caldwell called “the best talent in the industry.” He added, “We could have raised several times this amount, but we simply didn’t need the capital. We are disciplined in our spending and building for the long term.”
Dave is not the only partnership MX has forged this year. The company announced in May that it was teaming up with Meridian to make its Pulse personal financial wellness solution available to the credit union’s customers. Meridian is the largest credit union in Ontario, Canada, and the third largest in the country.
Also in May, MX partnered with fellow Finovate alum Kony, who will leverage MX’s PFM expertise to enhance its own digital banking experience product, Kony DBX.
Earning a 2019 Utah Genius award in April, Lehi, Utah-based MX has more than 2,000 financial institutions and 43 of the top 50 digital banking providers as partners. The company was founded in 2010.
MX, a provider of financial services data, has announced a $100 million financing round led by Battery Ventures, with participation from new and existing investors including the Tokyo-based venture capital firm, Digital Garage, reports Sharon Kimathi of Fintech Futures (Finovate’s sister publication).
The Series B round brings the company’s total equity financing to $175 million. The new investment reflects the value of financial technology data to banks, credit unions and other fintech companies, while allowing MX to accelerate its already rapid product development and customer growth.
With this round, the company will continue to be focused on the power of data that is cleansed, categorized, presented and usable.
“The use of data is essential to every industry, including financial services, and we are thrilled to support MX in its mission to leverage data to help drive better customer experience and deeper engagement for banks, credit inions, and fintechs,” said Michael Brown, general partner at Battery Ventures. “(It) leads to financial strength for everyone.”
He added “The company is already powering some of the top financial institutions in the world and is uniquely positioned to provide the smart aggregation and insights that the financial industry will need.”
Aside from Battery Ventures, new investors HIG Capital, Point72 Ventures, Sorenson Capital, Pelion Venture Partners, and Cross Creek Capital, also participated in the round, alongside National Bank of Canada and Washington Federal.
“With our surge in growth, we are proud of the fact that we have operated profitably the past two years, leading naturally to this next round of funding,” said Ryan Caldwell, founder and CEO of MX.
“We could have raised several times this amount, but we simply didn’t need the capital. We are disciplined in our spending and building for the long term. This additional investment will be spent on continuing to grow MX’s high-performing sales team, building upon our industry-leading user experience and partnerships, releasing a new product category that will be forthcoming, and hiring more of the best talent in the industry.”
MX is scaling quickly, with 15% of banks and credit unions in the U.S. already adopting MX technology and user growth rising in the last 24 months.
Headquartered in Utah, MX most recently demonstrated its technology at FinovateFall 2017. A multiple Finovate Best of Show award winner, MX was founded in 2010.