Finovate Alumni News

On Finovate.com

  • TipRanks Takes Top Prize at IBM Watson Hackathon in Israel

Around the web

  • Greg Smith and Chris Costello of Blooom discuss simplifying 401(k) management with Fox Business News.
  • Nilesh Dusane, Ripple Labs VP for global sales and client relations, talks about distributed ledgers and the future of payments.
  • EZBOB announces Everline as the sole channel for intermediary businesses.
  • Nomis Solutions teams up with Oliver Wyman to help FIs boost profitability in their retail deposit portfolios.
  • Temenos opens new office in Helsinki, Finland.
  • The Financial Brand highlights the need for banks to compete with Mint, MX, D3, Yodlee, Meniga, Geezeo, and Strands.
  • Investopedia features FutureAdvisor’s use for college savings.
  • Ping Identity enhances partner program with new options, benefits and requirements for partners in three programs.
  • BCSG appoints Deutsche Telekom’s Simon Lunn as COO.
  • Strategic News Service FiRe tech conference names ValidSoft a 2015 FiReStarter Company.
  • ProfitStars Banno Mobile named a leader in the IDC MarketScape: North American Mobile Banking Software Solutions 2015 Vendor Assessment.
  • Huffington Post considers advice from Scott Cook, Intuit co-founder.
  • Remember, the application deadline for the Fall 2015 cohort for the SixThirty accelerator is Friday, 10 July 2015.

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.

Strands Launches Loop to Combine PFM and Card-Linked Offers

StrandsLogo.jpgThis post is part of our live coverage of FinovateEurope 2015.

Strands demonstrated how Loop builds a personal banking experience for retail and commercial banking customers:

Strands Loop is a combination of three solutions: Business Financial Management (BFM), Card-Linked Offers (CLO) and Personal Financial Management (PFM). Strands BFM is a white-label product that helps SMEs make better financial decisions. With this intuitive tool, business owners can analyze and forecast future financial needs.

Thanks to the tight integration with Strands CLO and Strands PFM, SMEs are also empowered to influence their future cash flow. With predefined marketing strategies and PFM data insights, SMEs can easily set up campaigns and target highly relevant deals to the card holders. With Strands Loop, financial institutions can create a more seamless and personal banking experience and build better relationships with their SME clients.

Presenters: Dario Lombardi, Strands’ general manager; Cesar Richardson, director of business development

Strands_7848.JPG
Strands_7853.JPG
Product launch: February 2015
Metrics: $55 million institutional investment, 70 employees, offices in Barcelona, Miami, Madrid and Buenos Aires, two business units: Finance and Retail, serving more than 150 corporate customers around the world
Product distribution strategy: Direct to Business (B2B) through financial institutions, through other fintech companies and platforms
HQ: Barcelona, Spain
Founded: 2004
Twitter: @StrandsFinance

FinovateEurope 2015 Sneak Peek: Part 3

FE2015Banner.jpg

We’ll be in London three weeks from today, where drinks will be served, networking will be in full force, and we’ll be wrapping up the first day of FinovateEurope 2015 (get your ticket here).

FEUNetworkingCropped.jpg

To help you prepare for the onslaught of 70+ live demos full of new technology, some of the presenters provided us a summary of what to expect from them on stage. This week, we’re featuring CoinJarEVRYFOBISSStrandsTrunomi, and VATBox:

Don’t miss previous posts:


CoinJarLogo.jpg

CoinJar is a digital finance platform that gives customers a way to manage and spend both traditional and digital currencies when and how they want.

Features

    • Store bitcoin without volatility 
    • End-to-end solutions to make bitcoin adoption easy 
    • Buy bitcoin reliably with a simple interface

Why it’s greatCoinJarPresenters.jpg
CoinJar provides end-to-end solutions to unlock Bitcoin’s potential.

Presenters

Asher Tan, CEO and Co-Founder
Economic Analyst. Researcher. Bitcoiner.
LinkedIn

Ryan Zhou, COO and Co-Founder
Rubyist. Student at University of Melbourne. Bitcoiner.
LinkedIn


EVRYlogo.jpg

EVRY is the Nordics’ leading financial service provider and is presenting Spendific, a concept designed to make personal finance simple.

Features

    • Automatically generates personalized budget based on previous spending
    • Gives users feedback on their finances in real-time
    • Motivates users to reach their goals

Why it’s great
In Spendific there are no complicated graphs or charts to tell you whether you’re on track with your finances. Just one number. No worries.

EVRYPresenter1.jpg

Presenters

Anne Moa, Product developer
Moa has previously worked as a youth economist in a large Norwegian bank, with responsibility for the bank’s main channel of communication towards young people.
LinkedIn

EVRYPresenter2.jpg

Magne Meldal, Business developer
Combining two decades of technology and marketing experience with an open mind, Meldal is passionate about bringing better financial services to consumers.
LinkedIn


FOBISSLogo.jpg

FOBISS is a first modern tool enabling retail banks to manage their entire cash supply chains with one button click.

Features

    • Automates optimization and decision-making
    • Based on Artificial Intelligence technologies
    • Can be flexibly adapted to existing processes

Why it’s great
The industry’s first and only cash management system empowered by Artificial Intelligence and driving best decisions on time.

FOBISSPresenter1.jpg

Presenters

Mindaugas Leonavicius, Managing Director
Leonavicius has more than 10 years of experience in management consulting. Led multiple businesses through start-up phases from establishment to breakeven.
LinkedIn

FOBISSPresenter2.jpg

Andrius Ojeras, Global Sales Director
Ojeras is an IT Sales professional with more than 10 years of experience within multinational IT organizations.
LinkedIn


StrandsLogo.jpg

Strands designs and creates next-generation digital banking experiences to help individuals and SMEs manage their finances.

Features

    • Help SMEs analyze and forecast future financial needs
    • Empower SMEs to deliver targeted marketing campaigns on mobile devices
    • Help banks address the digital banking needs of business owners

Why it’s great
With Strands Loop, financial institutions can create a more seamless and personal banking experience and build better relationships with their SME clients

StrandsPresenter1.jpg

Presenters

Dario Lombardi, General Manager, Strands Finance
Lombardi leads the Finance BU. He joined Strands in 2011 as Business Development Director and has been responsible for managing sales in EMEA. Prior to Strands, he worked for Bloomberg LP
LinkedIn

StrandsPresenter2.jpg

Cesar Jimenez Richardson, Director, Business Development
Richardson joined Strands in 2014 and is managing Strands Finance in the Americas. Previously he founded and managed tech startup companies in travel and education tech arena and worked for Bloomberg LP
LinkedIn


TrunomiLogo.jpg

Trunomi offers an innovative technology platform that streamlines Know Your Customer and mobile verification using a revolutionary consent-based data sharing platform.

Features

    • TruMobile securely connects customers with banks.
    • Monetises and personalises your customer’s data experience.
    • Streamlines verification KYC using a revolutionary consent-based data sharing platform.

Why it’s great
A customer-focused mobile solution that eliminates their most significant pain-points; making their account opening and data management experience simple, secure and easy.

TrunomiPresenter1.jpg

Presenters

Stuart Lacey, Founder & CEO
Lacey is an innovator, team-builder and thought leader. Sometimes mistaken for the Energizer Bunny – he is relentless in his drive to find better ways to learn, build, nurture and share great ideas.
LinkedIn

TrunomiPresenter2.jpg

Chia Brewin, Customer Development Executive
Brewin is a multi-tasking, Trunomian super-star. She attended University in the UK, helped run campaigns for major political parties then earned a black belt in the “Art of Customer Development”.
LinkedIn


VATBoxLogo.jpg

VATBox is the first, cloud-based automated solution for Foreign/Domestic VAT recovery, providing data-driven visibility and insights while maximizing VAT returns.

Features

    • Eliminate human-error and resources with automated VAT technology
    • Gain complete visibility, compliance and control of VAT spend
    • Benefit from VAT recovery optimization, maximizing refunds

Why its great
VATBox’s Automated VAT recovery solution enables customers to have one global process that tracks and manages VAT spend with ease, and to maximize VAT refunds.

Presenters

VATBoxPresenter.jpg

Isaac Saft, Co-Founder & CEO

    • 2012 – 2013 – President and Global Business Development, KCS Ltd
    • 2004 – 2012 – Founder and Chief Executive Officer, KCS Ltd
    • 1994 – 2003 – Commanding Officer, Israel Defense Forces

LinkedIn

Stephen Coleclough, Advisory Board Member
Coleclough is a Tax Consultant in Mishcon de Reya’s Tax Group with over 30 years’ experience in tax and law. He was formerly a Partner and Global Leader of Indirect Taxes at pwc.

FinovateEurope will be held February 10 & 11 in London. Pick up your ticket today to save your seat at the hottest fintech event of the year.

Questions? Check out our FAQ for some answers.

Alumni News– December 22, 2014

  • Finovate-F-Logo.jpgDeutsche Bank launches FinanzPlaner powered by Strands PFM. Check out Strands’ newest tech at FinovateEurope.
  • Arroweye Solutions increases its payment card security.
  • SF Gate considers how Personal Capital brings a human touch to robo-advising.
  • Bluefin Payment Systems partners with 3Delta Systems to provide Bluefin’s Decryptx Point-to-Point Encryption Solution to 3Delta clients.
  • Financial Post takes a look at how innovations like SelfPay from Digital Retail Apps are helping small businesses.
  • Feedzai wins Silver Stevie Award in Most Innovative Company of the Year category in the 12th Annual American Business Awards.
  • FTSE Global Markets looks at how Kensho, Motif Investing, FutureAdvisor, and Wealthfront are leveraging big data and big computing.
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.

Alumni News– November 10, 2014

  • Finovate-F-Logo.jpgNHS Choices selects Narrative Science to Assist with Delivery of Healthcare Information.
  • Visa using Kofax TotalAgility to deploy enhanced data and invoice management in Asia Pacific.
  • PostFinance integrates Strands PFM in their new digital banking platform.
  • BNN interviews Bionym CEO on how its Nymi band could work for payments.
  • The Australian Business Review considers how SocietyOne is contributing to the P2P lending boom.
  • Livemint.com features Bankbazaar.com’s growth.
  • Hoyos Labs launches iOS & Android password manager that uses the user’s face to log into websites.
  • BillGuard and Experian Data Breach Resolution partner to offer an advanced ID protection suite.
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– May 12, 2014

  • Xero and ASB launch business to bank payments.
  • Bancbox and Kingdom Trust Company partner to streamline the crowdfunding and P2P lending platform for the IRA investor.
  • Actiance tops Forrester’s social risk and compliance product list.
  • Strands hires new CEO, Erik Brieva.
  • Dealstruck and Entrepreneurial Finance Lab named finalists in Core Innovators Challenge.
  • FIS announces launch of FIS Instant Card to accelerate FI’s ability to provide new or replacement cards.
  • Chris Skinner highlights the relationship between SmartyPig and ICICI Bank in a feature on Banking-as-a-Service.
  • ZDnet takes a look at ShopKeep POS, including its recent $25 million investment form Thayer Street Partners.
  • The Motley Fools calls Loop, the invention that “will change the way you pay for everything.”
  • The Rock Trading Ltd. partners with Jumio for real-time ID verification services.
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.

Strands Finance’s What If Functionality Gives Users Insight to Future Purchases

Thumbnail image for strandsFinanceLogo.jpg

First up in the second session, Strands Finance showcased its What If functionality:

“Strands Finance is presenting new “What If” functionality that takes PFM historical data and makes it relevant for the future. Users will gain greater insight and control of their financial health with little to no effort. For banks, the data is invaluable to better advise their customers. Strands has developed and leveraged pattern identification algorithms that help model future scenarios and the impact to the user’s short-term cash flow and long-term net worth.”

Product Launch: Q1, 2013
HQ: San Francisco, CA, USA
Founded: 2004
Metrics: 45 employees worldwide; $55M in funding raised to date
Twitter@StrandsPF
Finovate demo video: Demo videos will be posted next week
Introducing Edward Chang (CEO), Marc Torrens (Chief Innovation Officer) and Simon Shorey (UK Retail & Business Banking, Barclays)

IMG_0899.JPG
IMG_0900.JPG


FinovateAsia 2012 Sneak Peek: Part 1

FALogoSm.jpg

For our first ever FinovateAsia conference, we’ve selected 36 leading innovators to take the stage in Singapore on November 6.
Each company provided a sneak peek of what they’ll demo next month. Below is the first installment of these teasers. We’ll have more next week.
Don’t miss your chance to see the live demo from each company and be a part of our inaugural FinovateAsia conference. Get your ticket here.
____________________________________________________________________

Thumbnail image for BankersLabLogo.jpg

Airline pilots train in flight simulators, known to be one of the most effective training methods. After the financial crisis, isn’t it about time your risk managers have access to the best training techniques?
BankersLab offers training products designed to enhance a banker’s ability to develop and test strategies in a range of real-world market conditions. Utilizing a blended learning model, BankersLab integrates numerical simulations, scenario games, the gamified classroom, and m-learning for optimal understanding and knowledge retention. 
BankersLab’s comprehensive suite of products suits all skill levels; ensuring your teams are the best trained in the industry.
Innovation type: Cards, lending, payments

BellaDatiLogo2.jpg

BellaDati launches BellaDati agile analytics and reporting cloud tool for financial data analysis. 
BellaDati reinvents the way business users can interact with data. BellaDati will introduce features like GEO analytics, mobile reporting BellaDati Piccolo or social network for business data analysis. All this topped with easy connectivity to various data sources. Stay tuned to the new wave of business analytics inspired by gorgeous Isola Bella island located close to the Sicilian coast. 
Innovation type: Back office, mobile, sales

EFLLogo3.jpg

Bank lending to thin-and no-file small businesses in emerging markets is a billion dollar opportunity – yet traditional lending requirements make it inefficient and expensive. EFL’s Credit Screening Tool, which uses non-traditional data such as psychometric principles that statistically relate entrepreneurial qualities such as intellect, business acumen, ethics, attitudes and beliefs to credit screening, makes lending scalable and profitable. 
EFL will show how seamlessly its partners have integrated Credit Scoring Tool to their existing lending processes to increase their loan portfolios by over 100% and decrease defaults by over 40%.

Innovation type: Banking, identity, lending

fiserv.jpg

Fiserv will demonstrate its world leading mobile banking platform – Mobiliti – used by over 1,000 banks and credit unions around the world. The focus on the demo will be on Mobiliti Reach – a product to help banks profit from servicing underbanked and unbanked market segments.
Innovation type: Back office, mobile, payments

HecklyLogo2.jpg

Heckyl FIND is a simple and yet powerful platform which integrates real time news, analytic, and sentiment mining in your trading terminals.
Heckyl FIND provides the first and a very powerful enterprise social trading terminal enabling your analyst to collaborate in real time with Traders, exchange great ideas, trading insights and empower your Traders with all the information to take the next action, here on Heckyl Dashboard.
Heckyl FIND is exclusively for financial institutions, brokerages and the trading community to get access to real time trading ideas, research reports, economic alerts and much more.

Innovation type: Investing, online UI, PFM

InnovationAgencyLogo.jpg

Innovation Café is an advanced crowdsourcing innovation platform for companies to engage their innovation communities. It is highly configurable and able to provide for both private and public ecologies, as well as emergent and structured innovation approaches. 
Innovation Café is a lightweight platform with advanced white labeling, and custom theme capabilities. It has the ability to integrate with different systems and provide detailed reporting. Crowdsourcing and community collaboration are used to focus the attention on business objectives, enhanced through idea challenges.

Innovation type: Banking, mobile, online

MetaforicLogo.jpg

Get peace of mind knowing that your company’s financial mobile app is secure. Metaforic technology stops malware and hackers in their tracks. See live, an attempted malware attack on a mobile app and the technology that st
ops it.
Innovation type: Security

PerfectSenLogo.jpg

With fewer people going to branches due to the convenience of internet, it weakens banks’ ability to acquire, develop a face-to-face personal relationship and recommend relevant products to their customers. 
Users are also spending very little time on internet banking due to a very transactional “touch-and-go” behavior. So how do you get the right customized products to the right customer at a time when they most need it?
Innovation type: Marketing, PFM, rewards

Thumbnail image for SandstoneLogo.jpg

Sandstone will be showcasing its ‘next generation’ consumer banking solution combining internet and mobile banking, personal financial management and loan origination capabilities to form a powerful end-to-end customer acquisition and retention tool.
Building on the “anytime, anywhere” capabilities of emerging tablet and smart phone platforms, Sandstone will show how consumers can interact with their bank for a range of integrated banking services.
For example, we will demonstrate the customer’s experience of finding and purchasing a new home, including property suggestions based on their savings, property selection, valuation, credit assessment and loan approval – all in real time from any device
Innovation type: Lending, marketing, PFM

Thumbnail image for strandsFinanceLogo.jpg

Strands Finance is presenting new “What If” functionality that takes PFM historical data and makes it relevant for the future. Users will gain greater insight and control of their financial health with little to no effort. 
For banks, the data is invaluable to better advise their customers. Strands has developed and leveraged pattern identification algorithms that help model future scenarios and the impact to the user’s short-term cash flow to long-term net worth.
Innovation type: Mobile, online, PFM

TibcoLogo2.jpg

The 21st century customer is all about the experience. 
To be ahead of competition, retailers and banks need to drive revenue through new channels and differentiate themselves through unique customer experiences to build loyalty. With the combination of time, relevance, and behavior, TIBCO offers an integrated solution linking the end-users, retailers and banks – anytime, anywhere.
Innovation type: Mobile, payments, rewards

Thumbnail image for Thumbnail image for Thumbnail image for WiproLogo.jpg

Wipro will debut its Wipro SmartOffers solution at FinovateAsia 2012. The innovation provides bank customers with Digital Offers which can be redeemed at merchants for availing benefits/discounts at the time of purchase. These offers may be merchant-or-bank-funded at the bank’s preference. 
The solution is different from the aggregator-centric models currently in practice in the market, championing the bank centric offer model. Wipro’s solution gives the power back to the banks, by making them the center of the Digital Offers Universe. By making the entire offer landscape bank-centric, banks reap the benefits hereto left for aggregators.
Innovation type: Banking, rewards

A Closer Look into the Strands Finance PFM

strandsFinanceLogo.jpg

Last month, I caught up with the team from PFM platform, Strands Finance, to chat about what they’ve been up to since demoing at FinovateEurope last year.

Overview

    • Developing PFM solutions since 2007
    • Headquartered in San Francisco, with offices in U.S. and Spain
    • 50 employees worldwide

StrandsPartners.jpg

Clients

    • Bank of Montreal
    • BBVA
    • ING
    • Post Finance
Product highlights 

1) Widgets

Strands Finance offers 15 different widgets that users can drag and drop on any page of their financial institution.

The company has found that the new widget design is especially popular with gen-Y users.

StrandsWidgets.jpg

2) Categorization engine

The proprietary categorization has a 90%+ accuracy rate at launch of a client’s PFM after it is tweaked to recognize businesses in certain geographic regions. Its algorithms use vendor names, transaction codes and text strings to determine an appropriate category for a purchase. Transactions are categorized into over 80 categories. Customers can edit, split categories, or create custom categories.

Thumbnail image for StrandsCategorizationIMG2.jpg

3) Timeline view on expense analysis feature

Specific ranges of time are easily selected by using drop down and slider features.

StrandsTimeline.jpg

4) Community comparison feature

Compare and contrast saving and spending habits with the average bank client. Users can drill down into details and filter by demographic information such as zip code, county, or city and narrow the search to specific spending categories.

Strandscommunity.jpg

5) Mobile/Tablet

The native app is simple to use, and it retains most of the capabilities as the online version. It is available for iPhone, iPad, and Android devices.

StrandsMobileIMG4.jpg

What’s new?

Since presenting FinovateEurope last year, Strands Finance has added features such as a financial calendar and net worth analysis.

What’s next?

Strands Finance is developing a product marketing intelligence tool that will help banks analyze transactions and deliver personalized product recommendations. It has also started working on a wealth management solution that will provide users a picture of their overall wealth within the PFM.

To learn more about Strands Finance, watch its FinovateEurope 2011 demo.

Finovate Alumni News– June 29, 2012

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgAustin Business Journal discloses Bazaarvoice reports $104M financing.
  • IBT, FI solutions provider announces the launch MoneyDesktop as its PFM solution.
  • Affinity Solutions Lands $14.5 Million in Funding from Chestnut Hill Ventures.
  • Finovate takes a closer look into the Strands Finance PFM.
  • The WSJ examines how SimpleTuition’s SmarterBank help students and alumni pay back student debt.
  • Balance Street becomes an Affiliate Member of the California Bankers Association, will begin a pilot program to bring its debt settlement tool to California banks.
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– June 4, 2012

  • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgO’Reilly Radar takes an in-depth look at FutureAdvisor, interviews CEO Bo Lu.
  • Business Insider recommends Mint & BillGuard as worthy personal finance apps to help you control your finances.
  • Strands Finance, selected as tech partner of PostFinance, a Swiss FI & payment transactions provider.
  • HIT Consultant features Diversinet CEO on Newest Podcast.
  • Security Service FCU selects Tyfone to deliver next gen mobile services.
  • PaySimple named to JMP Securities Hot 100 Software Companies 2012.
  • Austin’s Statesman.com asks: Can Bazaarvoice IPO be catalyst for new wave of startups?
  • Altoona’s Hearld-Index profiles T8 Webare.
  • Barron’s looks at SigFig as A Take-Charge Portfolio Manager.
  • InComm & Absolute Software form partnership.
  • The Examiner looks at how Virtual Piggy is protecting kids online & interviews Founder & CEO, Dr. Jo Webber.
  • Check out the latest founder interview: Laura Mather of Silver Tail Systems.
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.

Strands Featured in Bank Technology News for PFM Strategy

StrandsLogo.jpg

Earlier this week, Bank Technology News featured an article on Strands, a PFM solution provider looking to stand out in a very crowded market by tailoring consumers’ PFM experience.

Here are some quick snippets of information from the article:

    • Aim of the PFM: create a single location to give clients a holistic picture of their assets and liabilities 
    • Target market of the PFM: consumers, bank staff, advisors
    • Clients include: overseas financial institutions such as Bank of Montreal, Banco Bilbao Vizcaya Argentaria S.A. and ING Group NV
    • Competitors: Mint.com, Geezeo, Wesabe, Yodlee, and more

The article notes that the competitors have started adopting different strategies to compete. One of those strategies, it notes, is to provide demographic-specific content. LearnVest, a PFM for women, is a great example of this.

To learn more about Strands, watch its FinovateEurope 2011.