FinovateFall 2010: Day 1 / Session 2

by Bryan Derman on October 4, 2010

in Bryan Derman, Conferences & Meetings, Finance, Finovate, Innovation, Technology

Glenbrook’s Bryan Derman is live blogging from FinovateFall 2010. This is one of several posts; you can find an index to his coverage here.


  • Bill payment website that provides an instant, short-term loan to fund the bill payment
  • Payor inputs key personal details that facilitates the loan underwriting
  • Can be integrated with banks, prepaid card issuers and billers
  • Can be presented as a payment option by billers and integrated with the Billeo bill payment assistant
  • Announcing integration with their first prepaid card program, the UPside prepaid Visa card from Plastyc
  • Also working with


  • Geezeo finding that consumers prefer to get Personal Financial Management (PFM) functionality through their banks and credit unions
  • Working with Sapient to gain access to digital marketing in order to create a business model for the financial institution
  • Bank can choose from among a set of pre-arranged ads to present behind its log-in, which can targeted to consumer profiles


  • Believes that is difficult for consumers to find the highest rates on their savings balances and that the “megabanks” don’t provide competitive rates like those available at community banks
  • Site contains educational information and presents typical rates in the consumer’s area
  • Optirate does a vertical search on the consumer’s preferred product and provides rate and background information from several different banks
  • Consumer can apply for and receive confirmation of a CD purchase (subject to final funding).  No need to go to the bank’s website
  • Believes the bank’s opportunity is to establish new relationships with affluent consumers


  • Another familiar, returning presenter to Finovate, having demo’ed POPMoney service last year
  • They say that 6% of the enabled base is using bank-based P2P payments, and doing so 1.5 times per month
  • Average payment is $336 — being used for bill payments and gifts, not casual (lunch tab) payments
  • Now looking at POPMoney for small businesses
  • Offer standard payment or next day payment (with an additional fee, of course)
  • Allows a rapid, electronic push payment to vendors with just an email address or mobile phone number

Silver Tail:

  • Fraud forensics and mitigation products that search for malicious behavior in online banking sessions
  • Working for several large banks and payment processors
  • Can be used, for example, to detect online activity from “money mules”
  • Now announcing “Federation”, wherein they will share threats among all their customer banks — they will create a common blacklist


  • Mobile PFM solution that allows bill payment from the mobile device
  • Powered by the Yodlee 10 platform
  • Flexible budgeting and reporting tools right from the mobile device
  • Can review and actually pay bills that have been served through the Yodlee platform
  • Will support various mobile phone and tablet platforms (iPhone, Android, Blackberry, iPad, Playbook, etc.)


  • Provides “socially informed money management”  (great term, but isn’t that
  • Lets the user aggregate spending profiles from other users that have similar profiles (geography, age, income, etc.) and find ways to get back toward the mean
  • Complement the data by letting users post actual stories about how they met their goals
  • Looked at online games in order to figure out right presentation — lots of graphical representation and drag & drop navigation
  • Bundle will create a proposed budget based on the user’s profile (using budgets of people with similar demographics)
  • Will also provide suggestions based on other users’ spending experience

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