FinovateFall 2010: Day 1 / Session 4

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.

Okay, gang — we’re in the homestretch (for day one).  Eight more presenters and then the bar is open.

Standard Chartered:

  • “Breeze” is their new approach to online and mobile banking
  • Online experience is highly customizable, including icons.  Can use both a list view (traditional) and a calendar view (new).  Calendar view facilitates reminders.  Also added a search capability that has been strangely missing from banking.
  • On iPhone, moving money is kept simple and intuitive
  • iPad application (and iPhone) delivers location-aware offers
  • iPad also allows customers to write checks on the fly that are executed by the bank’s back office


  • Fraud protection product called “Pinpoint” being introduced today
  • Uses cell phone location to validate identity of a person paying with a card
  • They have a CONSUMER PAYS freemium model (Will that work in the US where consumers know that they don’t have liability?)
  • Custom fraud detection model using phone location, purchasing patterns, and other mobile phone data
  • System can deliver real-time alerts that the consumer can use to report fraud to his issuer or to Finsphere


  • Re-engineering the paper out of bank processes — online, phone or face-to-face
  • Uses an iPad in the branch so that the consumer can enter his own data — saves time and reduces errors from employee re-typing
  • Tags all products that are relevant to a consumer request and delivers necessary applications
  • System returns a credit decision, pricing quote, other suggestions, rich marketing material
  • iPad captures an actual, legal signature
  • Application is portable — “a branch in a bag”

Guardian Analytics:

  • Use account level predictive analytics to stop online banking fraud
  • Very extensive dashboard of indicators that will help identify fraudulent patterns
  • Generates high risk alerts before funds are transferred; then looks for similar patterns occurring in other accounts

Receivables Exchange:

  • Turning commercial receivables into a tradeable commodity
  • 300% growth trajectory underway
  • Building an electronic receivables trading platform for many major corporations
  • Corporate sellers may upload hundreds or thousands of invoices at a time for auction
  • Buyers can carefully target the kind of debt they wish to purchase


  • Mobile app platform used by many large financial institutions (FIs) to do platform-independent app development
  • Can both see information and conduct transactions across multiple platforms
  • Ease of adding incremental functionality is an important consideration


  • Online piggy bank that lets people save money for specific goals
  • Have raised $600 MM to date with bank partner, BBVA Compass Bank
  • Now introducing Philanthropig to serve the donation/fund raising market (launching next month with the University of Texas)
  • Can be expressed as a widget and be used to an individual fund raiser to support a larger cause, with funds deposited directly into the charity’s account


  • An online accounting software package for small businesses that makes it easier for entrepreneurs to keep their books so they can focus on building their business
  • They charge $9.95 per month for the service
  • Now doing synchronization between a mobile device and the online service — provides easy sharing, backup, etc.
  • Nice GUI for the iPad to quickly display the financial position of the business with easy navigation — a good example of how mobile apps are often better and easier than web interfaces!

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