FinovateSpring 2011: Day Two/Session Four

by guest on May 11, 2011

in Conferences & Meetings, Finovate, Innovation, Jacqueline Chilton, Technology

Glenbrook’s Jacqueline Chilton is blogging from FinovateSpring 2011. This is one of several posts; you can find an index of our coverage here.

The format for Finovate is fast and furious.  No PowerPoint – all demo.  Each company has seven minutes. This is the fourth and last section for day two.  All that’s left after this is Best In Show and Wrap up.


  • Predict success for business ideas while generating better business plans
  • Core is a scoring algorithm to assess a business plan
  • Gather data through simple question and answer process
  • While collecting the answers, the tool generates full financials and ratios compared to industry averages
  • Provides advice to improve ratios
  • Provide the user with a report card and success score
  • Produce an official business plan to be shared with the bank
  • Looks like a great concept – the test will come as they can correlate their score to lending and business success over time!

Aptys Solutions

  • Allow financial institutions to redefine how their business banking customers manage payments transactions in the field
  • Announcing a mobile product with electronic invoice and payment with least cost routing
  • Tablet has on it a work schedule, the technician then performs service and then create invoice
  • Preloaded with pricing, inventory and synchs with back-office accounts receivables and inventory management
  • Offers remote deposit capture of checks, card payments or the option to invoice for customers with terms
  • Accepts wet electronic signature and emails invoice to customer
  • Offering Financial Institutions a mobile invoice and payment solution

  • Three year old business to evaluate banks for consumers on which banks can now respond to the consumer reviews
  • Announcing Plentifi – peer group of do it yourself financial advice
  • Can ask financial questions and get peer responses
  • Believe in niche social communities for specific goals and don’t think Facebook is the right place for financial questions
  • Looks like a developer forum or other question board – the success will be determined by the quality of the peer comments


  • Reinventing Certificates of Deposit
  • “Choice savings solution” to allow personal configuration of certificates of deposit
  • Offers customer the ability to set terms for a Cash Back or traditional CD
  • Enables a bank to deliver the solution to customers in 7 easy steps – a menu driven solution for the bank including time, interest, ranges and third party brokerage fees if not offered in house.
  • Reports are created with dynamic tags for brochures and sales documents
  • There is also a tab to track penalties for early redemption
  • Who thought there would be something new in CDs?


  • Payments system with new approach to security and privacy
  • Integrate to banking system
  • Solving the problem of fraud using a one time code to represent the person and the payment
  • No personal information is exchanged
  • This can be implemented within the bank online portal
  • Requires receiver and sender to enroll
    • Curo code is good with anyone at the same bank, any other bank that is enrolled and anyone registered directly on
  • Like all payments systems they are going to have to build the ecosystem


  • Payments on the go from a mobile device
  • Cloud wallet services coming to the mobile phone
  • Aim to be integrated to the core banking
  • For mobile card acceptance, they offer an enterprise account that takes Square to the multi – user level.  If you have multiple employees or sales reps accepting payments they go into a single account.
  • They demonstrated the example of a charity.  Creates a social army of volunteers to accept donations that all end up in the same enterprise account.


  • Cash solution for bill payments or cross-border payments
  • Use a bar code that enables 7-11 to direct cash payments at their POS to be applied to a bill or loan payment
  • Using over 6,ooo 7-11s as cash accepting locations with the same process as the purchase of a gift card
  • Ria is third largest money transmitter after Western Union and MoneyGram also enabled with PayNearMe
  • Consumer receives details of their financial transaction from their receipt
  • PayNearMe was a very strong finish for Finovate – you should have seen the shirt changes during the demonstration!


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