Our record-breaking audience has spent a hot two days in San Jose watching 68 demos covering the best in fintech.
After watching the 68 demoing companies show off their newest innovations on stage in front of the sold out auditorium, the crowd voted for their 3 favorite demos at the end of each day. The eight companies with the highest number of votes were crowned winners.
Here they are in alphabetical order:
, for its Eyeprint Verification technology that enables mobile biometric authentication
, for its smart mobile wallet system accepted at virtually every retail POS terminal without making changes to the existing POS system
for its voice-activated self-service solution for mobile and phone interactions
, for its Advisor Platform that streamlines the way advisors build, monitor, and rebalance investment portfolios
Ondot Systems, for its CardControl technology that allows users to remotely control their credit and debit cards via their smartphone
PrivatBank, for topless, contactless smartphone-enabled Android ATM technology
SaveUp, for its Gen Y/Millennial-oriented solution that combines gamification with personal finance
Stockpile, for their “give the gift of stock” solution that helps people invest in the brands they love
As always, thanks for your continued support. See you next year at FinovateSpring 2015!
All of the demo videos will be available on Finovate.com in two weeks.
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 eight 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.
This post is part of our live coverage of FinovateSpring 2014.
“Ondot empowers cardholders to remotely control their existing credit and debit cards from a smartphone app. Cardholders can lock or unlock their cards, set usage controls by location, merchants, transaction types, and spend limits, and receive and respond instantly to alerts and offers. Ondot’s customers have reduced fraud costs by 60%, increased card revenue by 50%, and gained market share in high-growth consumer segments.”
Presenting: Vaduvur Bharghavan (CEO)
Product Launch: April 2014
Product distribution strategy: Through financial institutions, through other fintech companies and platforms
HQ: San Jose, CA
Founded: March 2011
With less than a week to go before FinovateSpring, it’s pretty hard to hide our excitement for Ondot Systems. The Finovate newcomer will be arriving at the show $18 million in funding richer courtesy of an investment from a set of undisclosed contributors.
Ondot Systems’ technology is called CardControl. CardControl allows consumers to have instantaneous control over their credit, debit and other payment cards via their smartphones.
The applications for the technology are clear: from parents setting limits on a son or daughter’s credit card, to an individual being able to quickly “freeze” a lost or stolen card. The range of control options includes the ability to turn cards on or off, to provide location-based parameters on where the cards can be used, as well as to limit purchases by type and/or amount.
Said the company in a statement
: ” We think giving consumers tools to control, monitor, and manage card usage is a cost-effective way to protect cardholders and enhance the value of existing debit, credit, and prepaid cards.”
Ondot has been in stealth for years, developing the sophisticated technology to enable this card-controling smartphone functionality. Now in the public eye, we learn that the company has partnerships with four of the top payment processors, and that its technology reaches 10,000 banks and credit unions around the U.S.
To this last point, Ondot is already claiming significant success in helping FIs reduce fraud costs. They cite Long Star National Bank as one client that has seen declines in fraud losses of 40%. Bank COO David Penoli added that card usage has also increased, which he called “the most cost-effective way to increase debit card margins.”
Founded in 2011, Ondot Systems will demo CardControl at FinovateS[pring in San Jose next week. There’s still time to get your tickets, so visit our registration page today
to save your spot.