Finovate2009 – Afternoon Session 1

by Bryan Derman on September 29, 2009

in Bryan Derman, Conferences & Meetings, Innovation, Technology

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Resuming my live blogging of Finovate2009 from NYC in a few minutes.


Yodlee -Peter Hazelhurst, SVP Products

  • New Yodlee dashboard highlighting capabilities that used to be hard to get to
  • Web 2.o interface based on widgets
  • New UI indicates good and bad times to pay bills, based on expected balances
  • New feature is the FinApp store, where consumers can buy widgets and add them to their online banking experience
  • Yodlee will certify all the apps available
  • Everything is co-brandable by the bank

S1 Enterprise – Mark Moore, VP Marketing and Jenni Palocsik, Sr. Product Marketing Manager

  • Demoing tools that let banks build new applications
  • Able to mash up various personal and business banking services tailored to the needs of particular customer segments (e.g., add international wires for affluent customers)

Kapitall – David Neubert, Co-Founder

  • Do to investing what the Mac OS did to computing…
  • A dashboard of financial and non-financial data
  • Also facilitates social interaction on investment topics
  • Started life as a gaming company, which shows in their GUI
  • A wide variety of investment tools — news feeds, stock screeners, etc.
  • Just announcing a partnership with TD Ameritrade that will allow people to trade right from Kapitall

CashEdge – Sanjiv Dheer, CEO

  • 650 bank customers, including 7 of the top 10
  • Introducing POPMoney, a P2P payment service that can be deployed from an online banking site
  • Can send money to any email address or mobile phone number
  • Recipient of funds receives email with co-branding from sender’s bank.  If recipient’s bank uses POPMoney, recipient can collect funds at his online banking site.  If not, can register inbound account at the POPMoney site.
  • Four banks have been signed and will be implemented by year-end

BancVue/First ROI – Gabriel Krajicek, CEO BancVue and John Waupsh, CEO First ROI

  • Provide a branded product — Kasasa — that is developed and marketed on behalf of numerous small banks around the country
  • They fully implement — set pricing, features, media plan, other marketing (e.g., Reward Checking)
  • 250 small FIs already signed up to sell the Kasasa product line
  • Gives local FIs great products to complement their superior customer service

Bling Nation – Meyer Malka, Co-CEO

  • Contactless sticker for mobile phones provided by local bank that is enabled at local merchant terminals (“a Blinger”)
  • Allows banks to make more money on their debit portfolio while reducing merchant cost
  • Community Payments Service — partner with local, high market share banks who give Bling tags to their customers.  Merchants sign up for the network and get their Blingers and can add services such as loyalty and couponing. Can also redeem bank rewards at the POS.
  • Succesfully deployed in four markets so far — most mature market has 70% merchant acceptance and is capturing 20% of all the partner bank’s POS transactions
  • Partnering with core processors and other bank vendors also

On Deck Capital – Noah Breslow, Chief Product Officer and Dave Whittemore, Sr. Product Manager

  • Financing for main street business that can’t get traditional bank loans
  • Use business cash flow analysis, rather than personal credit score, to improve underwriting
  • Have lent $40 million during the recession
  • Now introducing instant online credit decisions — pulls data from online banking site to create cash flow metrics and delivers an instant decision on business credit
  • Funding occurs within 5 days

Canopy Financial – Mark Hall, VP Marketing

  • Leading provider of consumer-direct healthcare (CDHC) account processing
  • HSA balances have grown 36% to over $4 billion since last year
  • Developed CDHC mobile app to help consumers understand eligible procedures and average cost

More of my Finovate2009 coverage:

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