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Finovate Blog
Tracking fintech, banking & financial services innovations since 1994
Which fintech companies have continued to impress Finovate audiences over the years? The return of Kasasa to FinovateSpring last month, winning its fourth Best of Show award in the process, got a few of us thinking that it was a good time to take a look at which companies have been selected as fan favorites most frequently after demoing their latest technologies live on stage.
We’ve highlighted companies that have been especially popular at certain conferences, such as FinovateAsia and FinovateSpring before. Here is our compendium of the top Best of Show vote-getters to date for all shows combined (minimum of three wins).
The Big Three
The three companies that have won the most Best of Show awards from Finovate audiences reflect three different themes in fintech over the years: the allure of social investing (eToro), the rise of data analytics in banking (MX, formerly Money Desktop), and the persistence of the payment card (Dynamics). What is especially impressive about all three companies in our Best of Show Big Three is their ability to innovate over time. Each alum won their first Best of Show award between 2010 and 2012 and won their most recent Best of Show award between 2016 and 2018.
Dynamics (8) Founded in 2007. Headquartered in Pittsburgh, Pennsylvania. Jeff Mullen is CEO.
Of our Super Six – the six companies to have won Best of Show awards four times – what is most interesting is also the way many of them have been proven innovators over a time of major change in fintech. Companies like Kasasa (formerly BancVue) and Yodlee (now Envestnet | Yodlee) made their big splash back in the earliest days of Finovate and, with recent Best of Show wins in 2018 and 2017, respectively, shown that they are still among fintech’s most inspiring solution providers.
Two of the companies in our Fantastic Four companies that have won Best of Show awards three times have since been acquired. LearnVest, a three-time Best of Show winner from 2011-2013, was acquired by Northwestern Mutual for more than $250 million in 2015. EyeVerify, which won Best of Show awards on three different continents, was acquired by Ant Financial in 2016. The company now operates as ZOLOZ, and is focused on providing digital identity solutions for the underbanked in Asia.
Innovations in customer onboarding may be one of the less glamorous niches in financial technology. But there’s no denying the value of meeting your customers on the channel of their choice.
This is the thinking that helps explain Bottomline Technologies’ purchase of financial software-as-a-service specialist Andera.
In a deal valued at $48 million ($44.5 million in cash and just over 100,000 shares of stock valued at just over $35 per share), Bottomline sees its acquisition as a way of helping its digital banking clients “grow revenues and compete and win” in the words of Norm DeLuca, General Manager of Banking and Financial Services for Bottomline.
Of Andera’s virtues, none is more vivid than its oFlows platform, which the company purchased in 2011. The Best of Show winning technology (FinovateSpring 2010) makes customer onboarding and account opening easier for banks and credit unions whether customers are accessing their financial institution online, in-person, or through a mobile device. Most recently, the company made headlines with a software upgrade enabling mobile photo capture of data on driver’s licenses.
Andera was founded in 2000, and is headquartered in Providence, Rhode Island. The company has helped its more than 500 banking and credit union clients process more than 4.5 million online account applications. American Banker called Andera one of its “Top 10 Tech Companies to Watch” in 2012. Charlie Kroll is founder, president, and CEO.
Q2ebanking enhances mobile banking solution, supports clients’ mobile strategies.
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.
This morning, customer acquisition company Anderaannounced that it has acquired San Francisco-based oFlows to deliver a paperless experience to online bank customers signing up for new products or services:
“The combination of Andera and oFlows technology and services will provide the first truly integrated acquisition and origination platform for all products across all channels–branch, call center, online, and mobile. You couldn’t ask for a better match”
The deal, which closed October 5, will combine the two companies. Andera will retain its branding and take on the oFlows brand as a product or platform name.
Former oFlows CEO Scott Pitts will join Andera as chief product officer. Pitts says. “Together we deliver the whole enchilada.”
Next up this morning is oFlows, which demonstrated how you can use its platform to go paperless:
“This year we have expanded beyond financial institutions and have made the oFlows technology platform available to everyone. So if you are still using paper for your applications, purchase orders, order forms or just about any other kind of transaction, oFlows can help.
We take your products, forms and rules and put them into a completely paperless mobile platform that will run the rules, make offers, fill the forms, get them signed and manage all of the required supporting documentation – all from iPads, Android tablets and smartphones. And because oFlows seamlessly integrates with payments systems, you can complete complex transactions or take deposits on the spot. So now you can transact anywhere, anytime without having to lug around a clipboard full of paper forms.”
More than 60 leading fintech innovators, both startups and established companies, are gearing up to present at the biggest Finovate ever, Sep. 20/21 in NYC.
Each company provided a sneak peek of what they’ll be demoing on stage next month. Below is the first installment of these teasers. We’ll have more next week.
Backbase is launching “Retail Bank of the Future,” representing the e-banking engagement experience of tomorrow. It embodies the newest User Experience (UX) patterns based on input gathered from customer research, industry thought leaders and UX specialists.
Personal finance is a chore and not too high on any To-Do list. Life is busy and finance stresses people out.
At Balance, we manage your personal financial chores for you. We combine professional service (your own bookkeeper!) with all of your financial accounts and bills in one place for a fully managed experience that is personalized for you.
At Finovate we will show how you can now connect your financial accounts to Balance and power our newest expense tracking, budgeting and custom reporting tools. Also, look for a demo of our photo bill pay app and some other surprises!
Saving for a house? And retirement? And that dream vacation? No problem with Betterment.com! We’ve created the simplest, fastest, and most efficient way for consumers to invest for their goals and the future.
Banks need to re-define the relationship they have with consumers if they want to succeed in today’s market. StatementRewards has introduced an effective way for financial institutions to inexpensively reward their consumers for banking with them, which in turn increases loyalty and customer satisfaction.
At Finovate, BillShrink announces a new innovation that harnesses the intelligence of aggregated transactional data and applies it to customers’ social networking and purchase management activities. By utilizing advanced analytics to present the most personalized offers and other services to customers, StatementRewards gives financial institutions a unique, competitive edge.
Want to see the definitive search engine for tackling today’s banking issues? cbanc Network has created a revolutionary online collaborative platform for financial institutions to share best practices. This secure online community contains the largest repository of peer-authored, board-approved, exam-tested content anywhere. Here, banking professionals trade real, practical work — including policies, procedures, agreements, vendor reviews and more from every department of a bank or credit union.
This network
Motivates people to share their best work
Uses points as currency to incentivize users
Helps FIs prepare for exams
Protects users around legal and competitive concerns of sharing
The technology of the CLX.SentinelDisplay, a Class 4 reader with a hardened browser, hardened middleware, an integrated smart card and a high-resolution display, ensures extremely high, comprehensive security in e-banking applications.
Along with the reader’s extremely secure customer authentication and transaction signing mechanisms, the advanced concepts for application authentication and pro-active security updates is unique. The hardened browser (CLX.SecureBrowser) onboard the reader ensures full confidentiality of customer data – a security aspect that is often entirely ignored.
DeMystData’s new web-based modeling platform helps lenders grow thin file portfolios without increasing their risk level. With minimal inputs, our tool leverages the vast amounts of data accumulated online, applies advanced statistical techniques, and configures a bespoke predictive API that captures additional customer information without adding underwriting complexity.
The DeMystData platform has application in variety of commercial environments incl
uding credit issuance, risk assessment, segment identification, and offer customization.
Credit unions, banks, financial advisors, financial institutions: How are you delivering youth financial education to your client families? How are you connecting with your next generation client? How are you fulfilling Community Reinvestment Act (CRA) responsibilities for financial literacy programs that progress in complexity as students get older?
You’ve tried online content and even interactive online games, but the results are disappointing. Neither can hold a child’s attention for long or keep them coming back over the years. We have a better way. It’s no game. It’s real experience. It works. We can’t wait to show you at FinovateFall 2011.
Fuze Network provides innovative ways for financial companies and their customers to work together. Learn how we help billers to build brand loyalty, aid in collection efforts, reduce fees, boost your customer service efforts and help to eliminate misdirected funds.
With Fuze at your back we can help to boost your store traffic, drive sales, increase revenues and simplify the hassle of payment processing all while creating a better customer service experience.
Fuze helps connect customers with the closest payment locations, online bill payments, simple cash payment solutions, and easy utility bill payment all while saving them fees and the hassle and stress of paying bills.
Ready to have your financial mind blown away? Lighter Capital is combining light-hearted irreverence PLUS a light-weight and flexible funding structure PLUS a social-based investment decision analysis to make it easier, faster and more fun for small businesses to access capital than ever before! Get ready!
Innovation type: Investing, lending, small business
KulaX is a cross-sell engine that enables financial institutions to leverage their online banking platform to generate more leads faster without interfering with core banking functions.
Online banking customers are targeted with the “next best product” where they are invited, at logout, to engage in an automated one-on-one microinterview with their financial institution about their financial products needs and preferences. Upon interview completion, customers are presented with special offers for the FI’s products and services that have been tailored based on interview responses; requested offers are emailed to customers.
Modo converts redemptions to payments, and makes payments mobile. Our demo will show how easy it is to onboard consumers and merchants, as well as the simplicity of paying with modo.
And of course, most importantly, why you should GET modo and PAY with modo, in the first place: MORE!
When your brand is in the palm of your customer’s hand: make the most of mobile technology. Mootwin helps your business enhance the mobile customer experience, re-enforce loyalty, and accelerate revenue growth.
Innovation type: Communications, marketing, mobile
MShift and ACI Worldwide formed an alliance in 2010 to offer mobile delivery of ACI Enterprise Banker, the industry leading business banking solution.
They are now partnering to create a ground-breaking mobile business banking native application for the tablet. The application is focused on robust and graphically rich presentations of financial data as well operational tasks like ACH, wire release and bill payment, all with access from anywhere at anytime.
MyCyberTwin will demo its Artificial Intelligence solutions, called virtual agents
, and give a detailed explanation about how current leading financial institutions are using the technology today and will use the technology in the future.
It is a powerful demo to show an audience how a computer thinks and answers questions in real-time, helping customers get the answers they need while helping companies garner the intelligence of the customers visiting their websites. This demo will also showcase an emotionally responsive AI virtual agent able to capture emotion including smiling, frowning, and expressing gratitude.
The oFlows paperless loan and deposit originations system has expanded beyond financial institutions. Because oFlows has seamlessly integrated credit, fraud and payment systems, now anyone can use oFlows for just about any transaction.
Think of the last time you were handed a clipboard with a paper form on it. Next time it might be a tablet computer running oFlows.
Consumers have plans, life plans, and want to understand how those plans affect their finances in the future, so they can make better decisions.
Planwise is launching tools that will help any consumer, from the teen buying a laptop, the 20-something buying a car, the couple buying their first home to the astute property investor, to better understand how their decisions today might look in the future financially.
The consumer can then connect with the lender or adviser of choice to quote, get advice or apply.
Putting money aside for a rainy day is easier said than done. Many Americans do not have any money saved for emergencies.
Plastyc aims to change this by introducing automated savings built into prepaid card accounts. Setting aside a few dollars every day, week or month will be just a single click away. Money accumulated in the savings purse of the card account will reward savers with cash at unprecedented rates.
ReadyForZero is an online program for the 77% of American families who are paying down debt. For individuals and families, ReadyForZero facilitates the management and reduction of debt.
For financial institutions, the program is a low-touch and consumer-friendly alternative that reduces net credit loss and improves customer retention.
Rebirth Financial, noted by the Federal Reserve Bank of San Francisco as a company to “change the US finance system,” is shaking up the small business lending game again!
In February, Rebirth launched the nation’s first peer-to-business lending platform. Shortly after, Rebirth uniquely integrated SBA and CRA lending into the P2B mix.
Now, Rebirth is introducing the JAS Rating System! It’s a system that will redefine the way we analyze small business and a must-see for financial institutions lending to small businesses and companies wondering whether they should extend credit to a new client. It’s just another game changer from Rebirth Financial.
Innovation type: Back office, lending, small business
T8 Webware is bringing native mobile services to the masses by giving consumers real-time access to their financial purchase capabilities. Grip, a financial decision-making tool supports consumers’ daily needs, empowering them to understand their money flow simply and without clutter.
Grip enables financial institutions to provide convenient information on the go; addressing consumers’ mobile needs through a highly secured mobile and tablet app. With no reliance on core integration, financial institutions can offer Grip almost immediately and without any upfront fees. It can be deployed in three weeks and costs 99 cents each month for customers who use the app.
The Transecq solution, powered by ENTERSECT ITA, has revolutionized two-factor authentications by utilizing the power of the end user’s mobile device, fully encrypting the device and creating a multi-factor authentication tool.
Strong 2-Factor authentication delivered ubiquitously across the globe puts the power of approval in the appropriate hands.Thus providing protection and security way beyond passwords and account challenges.
Transecq is the industry leading innovator and developer of mobile security sol
utions for the financial services market. All the services leverage the security of Digital Fingerprint technology which uniquely ties a user and his/her mobile phone to an encryption key.
Weemba revolutionizes the way borrowers and lenders find each other and interact in a social-network-like online format. Borrowers create a profile and post a loan project under a nickname.
Profiles may include everything from the Borrower’s income and education level (individuals) to their number of employees and annual sales (businesses). Lenders search projects by credit score, amount needed, purpose and more.
When a Lender finds an interesting project, the Lender then may ask the Borrower for access to their real identity. If the Borrower grants access to the Lender, all further contact and any negotiations take place outside Weemba.
At FinovateFall 2011, Yodlee will demonstrate customization without effort. The company has developed a way for banks to automatically tailor a consumer’s initial experience with personal financial management.
We’re pleased to announce that the demo videos from FinovateFall 2010 are now available for free download (or immediate consumption) from the Finovate archives.
This fall’s NYC conference showcased 56 handpicked companies doing 7-minute demonstrations (no slides allowed) of their latest technology innovations to a sold-out audience of 650 financial & banking executives, venture capitalists, press, analysts and entrepreneurs.
Check out these cutting-edge ideas in financial, banking, payments, mobile, lending, investing and security technologies today for inspiration and your next edge on the competition!
(P.S. If you’re interested in joining us at the next Finovate event, tickets are now on sale for FinovateEurope (Feb, 1, 2011 in London). It is going to be an amazing showcase of European and global fintech innovation!)
Eric Mattson is CEO of Online Financial Innovations, the parent company of NetBanker, Online Banking Report and the Finovate Conference Series. He can be reached at eric@netbanker.com.
It was an incredible two days in NYC (Oct. 4&5) as we witnessed 56 new
products, services, and features debut on the big stage. Of 56 live
demos, there were a few slow connections, an occasional timeout, a
missed download or two, and a few lost seconds waiting for mobile
screens to refresh, but only one that we had to completely restart. So, overall it went very smoothly.
And the packed house had a great time, found a number of things they could take back to their own companies, and made some great connections (at least that’s what they told me anyway).
At
the end of each day, attendees voted on three “Best of Show” demos from
the 28 just seen. Then, at the end of the conference, we ranked
all 56 companies based on this audience vote (see notes). The top seven were named Best of Show.
Every company that presented was named Best of Show by some portion of the audience. But the ones that ended on top are as follows (in alphabetic order):
Congratulations! And thanks to everyone that presented, sponsored, attended and followed the #finovate tweets. If I ever recover, I look forward to writing more about where this is all headed.
——————————
Notes on methodology: 1.
Only audience members not associated with demoing companies
were eligible to vote. Finovate employees did not vote. 2. Because a different number of ballots was cast each day, we ranked the demos based on the percentage of ballots voting for each presenter. 3. The exact written instructions given attendees: “Please
rate (the companies) on the basis of demo quality and potential impact
of the innovation they demoed. PLEASE CIRCLE ONLY THREE”
We’re very excited to reveal the 56 cutting-edge companies that have been selected to demo their latest technology innovations on October 4 and 5 in New York City at FinovateFall.
Over the show’s two days, attendees will get to watch the future of fintech and banktech unfold on stage via fast-paced demos (28 each day) from these innovators. And then have a chance to interact with top executives from each of the demo companies during intimate networking sessions.
Without further delay, here’s the list of companies we’re excited to showcase:
If you’re interested in attending the conference, registering now will save you $100 on your ticket via the early-bird discount and reserve your spot (space is limited and we’re expecting to sell out). We’ll see you in New York!
Eric Mattson is CEO of Online Financial Innovations, the parent company of NetBanker, Online Banking Report and the Finovate Conference Series. He can be reached at eric@netbanker.com.
Just a quick reminder that the early-bird ticket prices for FinovateSpring 2010 (May 11, San Francisco) will expire at the end of March (less than 2 days from now). If you register by March 31, you’ll save $100 on your ticket and lock in your spot to see debuts and demos of dozens of new financial and banking technological innovations.
We’ve handpicked an amazing list of companies to demo their latest including:
Tickets are selling well with hundreds of registered attendees from great organizations like:
AARP
BNP Paribas
CBS
Experian
Google
Intuit
Kaiser Permanente
Mechanics Bank
Tower Group
USAA
Visa
Aite
Capital One
Celent
Filene
H&R Block
Jack Henry
Motley Fool
Target
PayPal
US Bank
Wells Fargo
Alliant Credit Union
Canaan Partners
Discover
Forrester Research
ING DIRECT
Highland Capital
Javelin Research
NY Times
TransUnion
Venrock
Wired Magazine
FinovateSpring is one of our twice-yearly showcases of the best new ideas in banking and financial technology. The show is built around a unique blend of fast-paced demos of actual technology (no slides!) and high-quality networking with an audience of senior FI executives, fintech entrepreneurs, VCs, press, industry analysts and bloggers. It’s an awesome environment to find your next competitive edge.
Don’t miss out on the early-bird price on your ticket to this great show. Register now!
P.S. Online Banking Report subscribers are entitled to an extra discount to our Finovate conferences. Email me to get it.
Eric Mattson is CEO of Online Financial Innovations, the parent company of NetBanker, Online Banking Report and the Finovate Conference Series. He can be reached at eric@netbanker.com.
More than 60 leading fintech innovators, both startups and established companies, are gearing up to present at the biggest Finovate ever, Sep. 20/21 in NYC.
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