Finovate Debuts: How Trunomi Shares Customers’ Personal Info while Maintaining Their Privacy

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There are special requirements banks must abide by when handling customers’ personal identifiable information (PII) data. Trunomi helps banks safely use PII so that they can tailor services to customers and provide a better overall experience.

Stats

    • $2 million in funding
    • Started earning revenue in 2014
    • 7 employees
    • Founded in 2013
    • Headquartered in Bermuda, Dublin & Silicon Valley
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Trunomi’s TruLink serves as the background architecture that powers TruMobile, a system that verifies the customer’s identity on their mobile device and enables them to share PII securely.

When a bank wants to use customer PII, regulations specify that customer consent:

    1. Occurs prior to sharing
    2. Is able to be audited
    3. Has context for each individual experience

TruLink generates certifications that prove all of the above. Additionally, it authenticates user identity and validates questionable transactions.

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Trunomi benefits both the financial institution and the end customer:

Bank benefits

    • Eliminates the cost of call centers
    • Accesses customer PII
    • Offers audit-level certification of customer consent
    • Creates new revenue centers by expanding customer data
    • Offers a configurable app that’s tailored to bank preferences
 Customer benefits
    • Ability to trade PII while maintaining privacy
    • Access to a clean user interface
    • Can respond to bank requirements in a way they’re comfortable with

Trunomi’s live demo video from FinovateEurope 2015 will be available on the Finovate video archives page this week.

Trunomi Launches TruMobile to Helps FIs Share Customer Data While Remaining Compliant

This post is part of our live coverage of FinovateEurope 2015.

 

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Trunomi debuted TruMobile.

TruMobile connects customers with banks, helping to monetise and personalise customer’s data experience. Built as a customer-centric “Consent Engine,” TruMobile is backed by multiple patent filings. 

It seamlessly creates auditable privacy policies, which for the first time permit the sharing of customer Pii data across platforms, jurisdictions, and business lines in full compliance with global regulatory and privacy standards.

 

Presenters: Stuart Lacey, CEO and founder; Chia Brewin, customer development executive; and Emma Hart, media representative
 
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Product launch: February 2015
Metrics: $2 million raised to date; started earning revenue in 2014; 7 employees
Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B) through financial institutions and through other fintech companies and platforms

HQ: Bermuda, Dublin and Silicon Valley
Founded: March 2013

Website: trunomi.com
Twitter: @trunomi

Finovate Alums Populate the FinTech50

Looking for the most innovative startups in fintech? The FinTech50 is a great place to start.

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It also turns out to be a great place to find Finovate alums. Of the 50 companies recognized by FinTechCity’s panels of judges as being “game-changers transforming the future of finance,” nearly half are alumni of Finovate conferences – including our upcoming event in London.
Here is the list of alums in alphabetical order:
According to Chris Skinner, who was one of the panelists, more than 700 companies competed for spots in the FinTech50. The selection panel included veterans of finance and technology from companies ranging from American Express and Google to Silicon Valley Bank and UBS. The FinTech50 winners were announced at an invitation-only event in London.
Speaking of London, Five Degrees, InvoiceSharing, Ixaris, mBank, and Trunomi will be in town next month, demonstrating their latest solutions at FinovateEurope 2015, February 10 and 11. More information on the event available here.

FinovateEurope 2015 Sneak Peek: Part 3

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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).

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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:


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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

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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


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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.

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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

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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


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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.

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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

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


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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

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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

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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


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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.

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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

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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


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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

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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.