Finovate Alumni News– February 21, 2014

  • Finovate-F-Logo.jpgBanking Day reports: SocietyOne to take next step in development next month, when it announces the involvement of a strategic investor.
  • ThreatMetrix announces frictionless, context-based authentication to prevent unauthorized access to enterprise applications.
  • TSYS announces increased investment in Central Payment Joint Venture.
  • Fiserv Premier platform picked by New Jersey-based Sussex Bank.
  • CRIF acquires OFWI, aka, Teledata, from Axon Active Holding AG.
  • ZenPayroll brings in $20 million in Series A funding from General Catalyst and Kleiner Perkins.
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.

FinovateEurope: Behind the Scenes with AdviceGames, Nous, and Yseop

Somewhere between the live Tweeting, live blogging, and watching demos at FinovateEurope, we found a bit of time to sit down and chat with a handful of the demoing companies one-on-one to get a closer look at what they were unveiling to the audience.

Here is the first set of companies we spoke with. Stay tuned next week for more behind-the-scenes insight:
 



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What they do
AdviceGames provides a solution to help banks, insurers, and independent financial advisors to be a virtual “guardian angel” of their customers’ finances. This includes everything from tailored advice such as when they should switch car insurance to advising them on mortgage decisions. In addition, it is dynamic, so it adjusts advice provided when a users’ circumstances change.
AdviceGames is currently focused on selling to larger banks in the European market, and has plans to expand to the U.S. in the future.
Stats
  • Offices in Amsterdam, London, and San Francisco 
  • Created with funds from the sale of eyeOpen to Ageon/Transamerica
The experience
Because the financial guardian angel provides a tailored, personal touch for each customer, users benefit from the customized approach. They are also provided the convenience of an anytime, anywhere tool, since they can manage their account from the comfort of their own home, or even on-the-go.
Below is a sample of a users’ homepage for AngelBank. Note the personalized greeting located at the middle of the page.
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If a user is interested in a particular service, such as a mortgage, AdviceGames will walk them through the decision-making process to bring them the best product. In the below picture, the user is asked to identify which one of the four views matches how they feel about personal finance.  
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After the user answers the self-guided questions, they are provided with a recommendation. The below screenshot shows the users’ personal preference results, followed by a mortgage recommendation. 
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Benefits for the financial institution
By providing customers with this service, financial institutions also benefit. It enables them to reduce the number of branches and cut down on staff at existing branches. In fact, the company is currently in talks with a bank that needs to reduce its costs by $1 billion over the next year, and sees Advice Games as one of the tools for reaching that goal. By replacing their banks with intelligent agents, the business case is clear. Additionally, it can help banks decrease their risk profile by applying motivational models.


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What they do
Nous has created a game called Spark Profit that runs on iOS and Android apps. The free game enables any user to make predictions in real-time about stock market behavior. 
Users gain or lose points depending on the accuracy of their predictions. The incentives in the game are real. By making a correct prediction, users can earn real money. In fact, since May of last year, the 851 users have collectively earned almost $17,500.
Stats
  • Self-funded
  • Pre-revenue
  • 5 full time employees
  • Just under 20,000 users
  • Plans to add more than 5 major stock indices before the end of March.
The experience
We were able to get our hands on the app, since it’s now available to the general public. The screenshots below were taken on an iPhone 5S in landscape mode.
Below is the home screen where users can opt to play different markets. There is even a bitcoin market.
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Users see historical market data, and are prompted to set a profit price and a loss price at any point in the future. If the actual market price touches the users’ profit prediction, then they win. If the actual market price moves away from their prediction and instead touches the loss price, the user loses points.
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Here, users can see a summary of the individual games they’ve played and the points earned and lost.
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All of these predictions across the entire user base adds up to a massive amount of exclusive data over time. As a secondary use case, Nous is selling this valuable data to financial institutions.

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Yseop

What they do

In its newest release, Yseop is using its artificial intelligence engine to support sales teams. Based on information gathered from a potential client, the new technology does everything from pre-drafting emails based on client information, to creating talking points for the sales rep to bring up in a follow-up call.
Stats
  • Privately self-funded
  • 30 employees
  • Largest customer is a retail bank with 12,500 daily users
  • Recently opened an office in London
The experience
The intelligence software guides the user through a set of questions to determine their potential interest in a bank’s products and services. Below, they provide information regarding their marital status and number of dependents.
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After the client’s information is submitted, the salesperson receives an alert, such as the one below, that informs them of the client’s demographic and financial situation, as well as their contact information for follow-up.
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Then, the system provides the salesperson with a call script that includes responses to possible objections that the client may bring up during the call.
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The system can also provide the salesperson with a prep-to-meeting report, meeting assistance, and will even draft an email to the client on the salesperson’s behalf (see below).
meetingemail.jpgKeep in mind that banks can use YseMail in selected, individual pieces– they do not need to use all six aspects of the service.

Stay tuned next week for another behind-the-curtain view of FinovateEurope 2014.

Nous.net’s Spark Feed Leverages Trading Intuition Rather Than Software Algorithms

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

Next up to the stage is Nous.net, a company that operates a next generation, free trading simulator

“Nous ‘Spark Feed’ is a real-time financial data service that helps you understand and predict the markets. Uniquely, Spark Feed uses the intuitive and analytical capabilities of tens of thousands of real people, not software algorithms. Their predictions are segmented by proven trading skill and then quantitatively blended.”
Presenting Justin Short (CEO & Founder) and Mick Horgan (Co-Founder)

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Product Launch: February 11, 2014
Metrics: Self-funded, pre-revenue, pre-launch; 5 FTE; 15,000 users (January 2013)
Product Distribution Strategy: Direct to Consumer (B2C), Direct to Business (B2B), through other fintech companies and platforms
HQ: Tokyo, Japan (Operations), British Virgin Islands (Legal)
Founded: September 2012
Website: nous.net
Twitter: @nousinc

Finovate Alumni News– February 4, 2014

  • 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.

FinovateEurope 2014 Sneak Peek: Part 4

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FinovateEurope 2014 is officially less than one month away. We will be returning to Old Billingsgate Market Hall in London for our fourth event in Europe and are excited to see and share the variety of fintech innovation our presenters will have on display. Get your ticket here today and see all 66 demos live.

Our Sneak Peek series is designed to help you get to know a little bit about each of our presenters ahead of time. If you’ve missed any of our earlier installments, take a look at FinovateEurope 2014 Sneak Peeks 1-3 below.

And now, meet another six companies who will be demoing next month at FinovateEurope 2014.


IT_Sector_lo_res_logo.jpgIT Sector presents a new approach to sales. Enable your commercial team to plan and close deals while on the road, with less effort, more results, and satisfaction from customers.

Features:

  • Commercial lead generator
  • Portable Sales Office
  • Real-time access to commercial management
Why it’s great:
Close more deals with less effort with our innovative commercial GPS solution that covers the main activities of the sales process. Our software shines with strong usability and compelling value.

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Joao Lima Pinto, IT Sector Board of Directors
Background in financial institutions and multichannel solutions. Masters and PhD from UMIST (UK).


nous_lo_res_logo.jpgNous operates a free, day-trading simulator app which collects real-time predictions blended to generate a financial sentiment feed to help you predict the markets.

Features:

  • A mobile app gathering predictions from thousands of traders worldwide competing for prizes
  • Real-time feeds help you predict markets
  • Feeds use the intuitive and analytical abilities of real people
Why it’s great:
Our Spark Feed crowdsources alpha to help you understand and predict the markets.

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Justin Short, CEO and Founder
Justin has worked in finance for 16 years, building quantitative algorithmic trading systems, strategies and teams.

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Mick Horgan, Co-Founder
Mick has ten years experience building real time decision applications with Pega Systems. Prior to moving into software development. Mick worked as a turbine field engineer mostly in Africa and Taiwan.


Pixeliris_lo_res_logo.jpgPixeliris’ CopSonic enables contactless sonic and ultrasonic communication between smart devices and mobile payment and passwordless authentication available on phones and smartphones.

Features:
  • It turns any phone into a mobile payment device
  • It is truly contactless and entirely secure thanks to One Time Password and strong authentication
  • It replaces standard online passwords
Why it’s great:
With CopSonic, pay anywhere with any phone.

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Brian Roeten, Director of Projects
Brian joined the team in 1999. Today, his experience and skills enable him to manage the company’s innovating international high-tech projects.

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Emmanuel Ruiz, Founder
Since he has founded the company in 1995, Emmanuel Ruiz has initiated all innovations, from our first audio broadcasting systems to the recent sonic and ultrasonic contactless communication technology.



Temenos_lo_res_logo.jpgTemenos Treasury Management Dashboard App enables the transformation of treasury operations with a dynamic dashboard user interface accessible on a tablet device.
Features: 
  • Multiple source of real-time data accessible from single point
  • Rich, intuitive user experience reducing the complexity of multifaceted data
  • Holistic view of banks entire position
Why it’s great:
Visually excited dashboard enabling treasury managers to better understand the data and be far more responsive and effective in making critical business decisions anytime, anywhere.

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Dharmesh Mistry, UXP and Mobile Product Director
Adam Gable, Product Manager, Treasury
(not pictured)


Topicus_Finan_lo_res_logo.jpgTopicus Financial focuses on business lending value chain integration with innovative web-based technology.
Features:
  • The entrepreneur gets the lead of business lending
  • What-If scenarios to asses the financial impact of future plans in real-time
  • Freeing the entrepreneur from all banking complexities
Why it’s great:
Topicus Finan believes that self-service is an important factor in keeping operational and risk costs at an affordable level, while increasing transparency and fit with credit demand.

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Michiel Schipper, CEO

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Jamie Burink, Senior Consultant Innovative Banking


Yseop_lo_res_logo.jpgYseop is natural language generation software based on artificial intelligence that boosts sales productivity and turns each financial advisor into an expert without additional training.
Features:
Yseop automates the sales process from lead generation to the writing of prep-to-meeting reports, customer follow up and personalized marketing communications – automatically.
Why it’s great:
Yseop turns data into text, leads into clients, and salespeople into experts. Double your sales force productivity overnight with the power of artificial intelligence.

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Elizabeth Farabee, VP of Marketing
Has a background in inbound and direct marketing. She is passionate about Yseop’s personalized marketing potential in both the B2C and B2B markets.

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Arden Manning, Director of Communications and UK Business Development
Brings nearly 10 years of experience in public relations, strategy, and product management.

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.

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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.

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

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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.

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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.

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

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Nous.net’s Spark Feed is a real-time financial data service that helps you understand and predict the markets.

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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.

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

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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.

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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.

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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.

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

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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.

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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.

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

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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.

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