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Alumni News– September 12, 2014

By David Penn Posted on September 12, 2014
Categories: Kony Solutions, MiiCard, Payfone, Q2, Tink, TSYS

miiCard launches DirectID to enable verification for high value transactions online.

FinovateFall 2014: Meet the People in Your Fintech Neighborhood.

First Trade Union Bank (+$700M in assets) deploys Q2platform from Q2.

TSYS and iMobile3 partner to Provide Apple Pay Integration.

Payfone announces release of new Mobile Identity as an Experience Platform.

Kony wins first place at 2014 CTIA MobITs Awards.

Tink raises $4 million in Series A round.

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.

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Finovate Alumni News– March 13, 2014

By Julie Muhn (@julieschicktanz) Posted on March 13, 2014
Categories: Azimo, BBVA, BBVA Compass, Cardlytics, Kashoo, mBank, Narrative Science, PayPal, Tink

Payments News: MasterCard, Fiserv partner on Debit EMV for Accel Network.

Xero named top choice in the list of “favorite online-based business accounting apps” by both PCWorld and Macworld.

Tate Design blog features BillGuard.

Credit Karma brings in $85 million in financing led by Google Capital.

Compliance Week reports: Actiance’s partnership with Shoutlet provides companies with compliant social marketing.

Expensify integrates with NetSuite and Stripe, raises maximum expense report amount, and more.

Cardtronics announces agreement with BBVA Compass for branded ATMs in Texas H-E-B stores.

PayPal’s Pamela Rice joins OnDeck as SVP of Technology.

Azimo raises $10 million in round led by Greycroft Partners.

Freshminds explains how Tink, mBank and BBVA are “redefining customer centricity.”

Kashoo earns spot on ICT 2014 Ready to Rocket list.

Smart Data Collective highlights Quill from Narrative Science in a column on the business applications of artificial intelligence.

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.

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FinovateEurope: Behind the Scenes with NF Innova, Tink, and Vaamo

By Julie Muhn (@julieschicktanz) Posted on February 27, 2014
Categories: FinovateEurope 2014, NF Innova, Tink, vaamo

In another behind-the-scenes view of FinovateEurope 2014, we take a closer look at NF Innova, Tink, and Vaamo.

If you missed the previous two behind-the-scenes features, be sure to check out:

NF Innova

What they do

NF Innova helps banks provide a tailored banking experience for their customers. This Personal Experience Module replaces a company’s static CRM system with an adaptive solution. It responds to individual users’ needs without the need for administrative input.

By monitoring user behavior on digital touch points, it automatically provides the functionalities that appeal most to each user. The result is a solution that provides a single location for the end user to address all of their financial needs.

Stats

$1.5 million in revenue in 2013
1 million users in its iBanking suite
42 employees
15 years experience working with banks

The experience

Customers are greeted with a login screen that speaks especially to them. In this example, the customer is greeted with a clean login screen that targets them with a home mortgage.

After logging in, the user sees a financial “command center” where they can view multiple accounts and have access to P2P payment options, alerts, account balance and feed of transactions over time, and more.

In this view, the My Cards section on the right is expanded to detail the customers’ balance across their credit card accounts.

NF Innova’s solution works for both larger and smaller financial institutions. It is working with one of the largest financial institutions in Russia but is mostly focused on the European market. However, it plans to expand to both North and South America later this year.

Check out NF Innova’s live demo video from FinovateEurope here.

Tink

What they do

Tink is a direct-to-consumer mobile app seeking to reinvent PFM to make managing finances more enjoyable and digestible for ordinary people. Its average user is a 25-year-old female, and in order to appeal to this demographic, Tink makes looking at finances as easy and beautiful and checking your Instagram feed.

The Sweden-based company does its own aggregation, ensuring that all of users’ transactions are accurately represented. This is crucial because, as Tink notes, it is rare for users to manually input or change details about their transactions. Therefore, if the aggregation isn’t done correctly the first time, the user’s view of their finances will never be accurate.

Stats

150,000 users
10 employees
Average user logs in 3 times per week

The experience

The middle phone below depicts the user’s financial feed, which has a similar feel to Facebook’s activity feed. Its purpose is to inform the consumer of their spending while not making them feel guilty about it. By viewing spending habits as something positive, Tink encourages users to log in more frequently.

In addition to the general activity feed, Tink also shows the user a close up view of their spending. The phone in the middle depicts spending across simplified categories, and the one on the right is a magnification of what the user spent on a specific category, Food & Drinks.

Tink is live in Sweden on iOS and Android. It plans to launch in other markets in the future.

Check out Tink’s live demo video from FinovateEurope here.

Vaamo

What they do

Vaamo helps users achieve their personal financial goals by providing them a simple and easy-to-use platform that visually portrays their goals over time.

It invests the user’s money in international equities, government and corporate loans and real estate. To optimize return on investment, Vaamo uses an investment approach that was developed in collaboration with the Goethe-University in Frankfurt.

If one of the funds changes unexpectedly, the user is prompted to log in and change their goal by either contributing more money or extending the time period.

Stats

14 employees
More than €500K in capital raised
It is in final negotiations in contracting with a bank in Germany to h
old customer account balances.

The experience

The screenshot below depicts a user’s view of their three goals. With a personalized picture as the background and the progress bar in the middle, it is easy to see each savings goal.

The interface below illustrates the simplicity of setting up a goal. Instead of being burdened with selecting individual funds, the user needs only to select their risk class and how much they are willing to contribute initially.

Users can withdraw funds from their goals at any time. When they opt to withdraw from their account, they are prompted to make a choice about how they want to make up the amount they took from their savings goal (see the red box in the screenshot below).

Vaamo is a paid product that will target 25-45 year olds who earn a range of €3k to €10k per month.

Check out Vaamo’s live demo video from FinovateEurope here.

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

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FinovateEurope 2014: FinTech on Film

By David Penn Posted on February 26, 2014
Categories: Backbase, BehavioSec, Dynamics, ETRONIKA, FinovateEurope 2014, Luxoft, Misys, Momentum, Tink, Toshl

Your plan to binge watch “House of Cards” just got a little more complicated.

The videos from FinovateEurope 2014 are now available in our Video Archive section. Two full days of demos. 67 presentations. More than 470 minutes of fintech innovation. No gorilla suits or no-look, laptop tosses this time around. But the two-day event did feature an entertaining performance by a precocious young investor, a pair of innovators in motorcycle helmets, and a Russian supermodel.

And if all that doesn’t whet your appetite, here’s a look at the demo videos from the nine companies awarded Best of Show honors this year. Click the image to go to the video page.

Enjoy!

Momentum

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Tink Launches its Personal Finance Service Internationally

By Julie Muhn (@julieschicktanz) Posted on February 12, 2014
Categories: FinovateEurope 2014, Tink

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

Next, Tink launched its platform to help users follow their finances:

“Tink is a free personal finance service that allows you to follow your money, wherever you are! The service automatically collects and categorizes up to 2 years of historical transactions and assets from the banks you decide to connect. Once connected, Tink presents your expenses and incomes, suggests budgets, sends alerts, and gives you a personalized feed. Tink removes all the unwanted noise, highlights what’s important, and provides intelligent insights into your finances. Following your money with the Tink feed is as effortless as browsing your Instagram feed!”

Presenting Daniel Kjellén (Founder & CEO) and Fredrik Hedberg (Founder & CTO)

Product Launch: September 2013, international launch: 2014

Metrics: 10 employees

Product distribution strategy: Direct to Consumer (B2C)

HQ: Stockholm, Sweden

Founded: June 2012

Website: tink.se/en

Twtter: @tink

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FinovateEurope 2014 Sneak Peek: Part 1

By Julie Muhn (@julieschicktanz) Posted on January 9, 2014
Categories: CurrencyTransfer, Fastacash, FinovateEurope 2014, Luminous, Matchi, Tink, Toshl

FinovateEurope is almost a month away, and we’re well into preparing for the show, to be held in London on February 11 and 12 at the historic Old Billingsgate Market Hall.

Before we all gather around the demo stage, we wanted to give you a preview of what to expect. Below are the first six companies in our sneak peek series. Stay tuned for more!

CurrencyTransfer.com enables foreign exchange companies

to compete for your business transfers.

Features:

Compare low-cost currency quotes, and book trades in one independent venue
100% cost transparency, displaying side-by-side ‘sell’ and ‘market’ quotes
Post trade analysis; no more paper trails

Why it’s great:

Access foreign-exchange quotes from all your providers in one place. Execute your business trades at the best price at the click of a button.

Daniel Abrahams

Co-Founder and Head of Partnerships at CurrencyTransfer.com. Half Israeli, Daniel divides his time between offices in London and Tel Aviv. Mentor at Startup ABC & Personal Finance blogger.
LinkedIn

Stevan Litobac

Co-Founder and Head of Product at CurrencyTransfer. Stevan has advised a number of early stage startups. Loves making things.

fastacash transfers value through social networks globally.

Features:

Addresses intersection of payments, social and mobile
Transfer monetary value and content across any social or messaging platform
Technology easily customized and embedded into partners’ solutions

Why it’s great:
Enables transfer of money, airtime, coupons and any other value across any social network or messaging platform.

Vince Tallent
Vince has extensive experience in the TMT industry with a global focus on mobile and payments.
LinkedIn

Gilberto Arredondo

Throughout his career, Gilberto has been involved with new technologies and innovation by driving commercial and operational activities for telecommunications companies.
LinkedIn

Jack Henry & Associates & Luminous helps banks solve problems. It’s the ultimate financial innovations company with visionary products that are breakthroughs in sheer simplicity.

Features:

Virtual safety-deposit box
Banking customers can upload, sort and store personal and business documents
Customers can automatically save and back up the latest version of important documents

Why it’s great:
Customers can easily bank online with important documents automatically filed after just one click

Andrew Teversham

As Chief Technology Officer for Luminous, Andrew heads up the development and implementation teams at Luminous and has gained extensive experience with SAP implementations over a number of years.
LinkedIn

Phillip Wood

Phillip is a business development leader with 17 years’ experience in direct sales, business development and strategy in B2C and B2B across EMEA.

Matchi is an innovation-matchmaking platform for banks and innovators.

Features:

Unprecedented collaboration opportunities for banks
Marketing platform for innovators to showcase their latest innovations to banks
A go-to-destination for market-ready, banking innovations online

Why it’s great:
It’s an innovation-matchmaking site for banks and innovators globally.

Warren Bond

Warren Bond, CEO of Matchi, is constantly looking for new ideas and ways to drive innovation and change in the banking industry.
LinkedIn

Gerrit Hoekstra

Gerrit Hoekstra, CTO of Matchi, has been delivering embedded mobile and strategic enterprise-grade, big-data solutions for more than 25 years and is passionate about innovative technologies at all levels.
LinkedIn

Tink is an innovative personal finance-management app which allows users to better understand how their money is spent.

Features:

Making personal finance effortless
Consume data in a personalized feed
Insights into your personal finance

Why it’s great:
Makes personal finance fun, beautiful and convenient for the first time!

Daniel Kjellén, CEO and Founder
LinkedIn

Fredrik Hedberg, CTO and Founder

Toshl Finance Making finance fun. Helping people shake their finance-management indifference.

Features:

Funtastic finance management UI
Fully featured apps on phones, the desktop and everything in between
Available worldwide

Why it’s great: Making finance fun.

Matic Bitenc

CEO, background in UX, international relations.

Miha Hribar

CTO, co-created numerous high-profile IT projects.
LinkedIn

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Innovations at FinovateEurope 2014: Part 2

By David Penn Posted on December 16, 2013
Categories: Luxoft, Matchi, Meniga, Mobino, Money on Toast, MyOrder, myWishBoard, NF Innova, Nostrum Group, Nous.net, payworks, PhotoPay, Pixeliris, Plutus Software, SaaS Markets, Smart Engine, SoftWear Finance, SQLI, Temenos, The Moneyer, Tink, Tootpay, Top Image Systems, Topicus, Toshl, Truephone, Trustev, Yseop

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.

Luxoft’s iStockTrack is an innovative iPad solution providing mobile banking services for private and premium banking clients.

Matchi is an innovative matchmaking platform for banks and innovators to establish collaborative relationships that deliver increased ROI for innovators and banks alike.

Meniga is Europe’s leading white-label PFM provider. The company helps banks improve their businesses through data-mining, cross-sales, and improved retention.

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

The Moneyer is the future of online Personal Finance Management.

Money on Toast delivers independent and whole of the market, FCA-regulated financial advice online via its algorithm-powered adviser.

MyOrder provides a m-commerce mobile app that serves businesses in parking, catering, and entertainment.

myWishBoard is the first crowdfunding platform for personal dreams and wishes.

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.

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

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

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.

PhotoPay’s technology allows users to extract data from any document, paper or electronic, enabling billpay on mobile devices.

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

Plutus Software’s KreditAja credit scoring system is designed to better serve the unbanked and underbanked in Asia.

SaaS Markets is an enterprise cloud marketplace company whose MarketMaker platform helps FIs deploy their own branded, cloud-based business app store.

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.

SoftWear Finance’s HACU PLATFORM enables banks to provide customers with the best possible user experience on any platform or device.

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.

Temenos’s Treasury Management Dashboard tablet app has been developed for Microsoft Windows 8 and enables the transformation of treasury operations.

Tink is a free personal finance service that allows you to follow your money, where ever you are.

Tootpay’s solution is a mobile financial solution for payments, banking, telecommunications, and remittance industries.

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

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.

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.

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

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.

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

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