Live Blogging Finovate Spring 2013 San Francisco

by Erin McCune on May 14, 2013

in Conferences & Meetings, Erin McCune, Finovate, Innovation, San Francisco, Technology

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It’s Spring in San Francisco, so it must be time for the annual Finovate conference. Once again, Eric and Jim have pulled together an impressive group of companies and all my favorite payments geeks are in attendance, eagerly awaiting the start. Up on stage for the kick off Eric tells us this is the biggest Finovate ever; it feels like it! [Learned later that there were 1250 attendees]

For the un-initiated, Finovate is a two-day marathon of financial tech demos from start-ups launching new solutions as well as incumbents showing off new products and features. Each company gets 7 minutes and there is no PowerPoint allowed – as I type this there are a number of people making offerings to the demo gods.


This is one big long post and will be updated over the course of the conference. The demo schedule is listed below. You can use the links immediately below the schedule to jump ahead by session. I tried to keep my editorial commentary [in brackets]… pls forgive typos, incomplete sentences, etc.. Presenters, do not hesitate to contact me to clarify/correct any mistakes as appropriate.

Finovate Spring 2013 Schedule

Jump ahead by session:

Session #1
Session #2
Session #3
Session #4
Session #5
Session #6
Session #7
Session #8
Best of Show



  • Demonstrating how hard it is to log into mobile banking from your phone – fat fingering, etc.
  • A safe, simple and secure replacement for outdated authentication – using camera on the phone; actually the video at 30 frames a second; process in under 1 second
  • Pattern-match blood vessels on your eyeball – apparently unique and stable over time
  • Q: what if my eyes are bloodshot (I’ve been drinking, my allergies are horrible) A: the pattern stays the same, even if your
  • Requires at least a 2 megapixel camera, supports iOS and Android
  • Claim better than voice, less issues with background noise. Supposedly less socially ackward than speaking to your phone [I don’t buy this]
  • [This Q&A is too contrived… ]


  • Easy for small and medium biz to jump on mobile bandwagon, get rid of all the junk on their sales counter. World’s very first built-for-business tablet for business; with “Leaf Friend” to help you get setup
  • Payment agnostic “Payment Switzerland” – support 30 major processors, gift card wallets, etc.
  • Accepts mag stripe or Chip & PIN
  • Demonstrating check out with PayPal mobile wallet – quick and easy
  • Also demonstrating website where business can configure
  • Tailor functionality for different verticals < apps to revolutionize small and medium businesses, the typical and not so typical
  • But wait, they are platform, too: Leaf app store for developers to layer on top of Leaf < he admits that this all sounds like “delusions of grandeur” and that “VCs don’t like this”
  • Announced a reseller network, and a set of tools that reseller partners can use to onboard merchants, configure etc. in order to deploy a whole army of “Leaf Friends” to build the ecosystem


  • Friends and family can contribute to a trust for children, each contribution can be accompanied by a note and picture
  • Funds invested in a money-market account
  • Social network integration makes it
  • 7.5 yrs ago, neice just born, accountant at a bank, we should save for her future! Family said: you are an accountant, you work at a bank: figure it out
  • Market: parents save 1.3 Trillion for their kids
  • Even lower income families have accumulated $14,000 saved for kids when they turn 18, but often in a low interest rate savings account
  • Alternative are 529 plans, gov’t tax advantaged – but only 3% of families are using – too complicated, too many choices,
  • TrustEgg, simpler, earns market rate of return, easy for friends and family to contribute
  • 1000 users so far, sent on average 1.8 invitations, average account balance $150 after two months, majority of funds from someone other than the parents
  • Partnering with banks and institutions, first partner that provides matching funds for low income fa
  • Co-founder is the Ben Bernake of virtual currencies – used to manage second life’s economy

Narrative Science

  • “Human insight at Machine Scale” = platform that takes data, figures out what it means, and writes a narrative that explains it in natural language
  • Not by calculating, interpreting but by simply reading data in narrative format
  • can be used for business process data, educational data, gov’t policy, sports, real estate, etc.
  • A few financial services applications: investment research, attribute reporting, client portfolio review
  • Highly personalized reporting
  • Example: ratings analysis on 1000s of equities, but only so many customers have means (tools, analysts, etc.) to analyze data, but larger market for readable, narrative version – sample, eight page historical perspective, industry analysis, pretty format, and ready to go in PDF
  • I don’t think this replaces a CFA with human judgment but it would provide them something to work from
  • Probably better for client statements
  • Speaking of which… working with Personal Capital, showing examples of “stories” each for “an audience of one”


  • The world’s first algorithmic trading platform in your browser! [I can barely type algorithmic, need more coffee]
  • Demo’ing development environment, creating rule to track price of IBM and if price goes above moving average…
  • Test using tools provided by Quantopian — back test against ten years of data to check performance of your algorithm
  • Test how you do in live trading; then deploy with one button  [this is actually pretty cool]
  • In just minutes develop an investment theory and deploy
  • Showing previous trade — history,
  • And of course you can check in from your phone on the go
  • Choose huge cross-section of stocks; use social data, public filings, gov’t data, any other info on the web
  • Algorithms are private and members retain intellectual capital — although many users share and mimic others to learn and improve
  • Check it out and apply for a live trader demo account


  • Paydiant + FIS illustrating bank wallet experience
  • “Banks should not concede wallets to anyone else!” all about bank brand and bank control of the customer experience, designed to integrate with existing applications like mobile banking
  • Either a reference app or tools that you can build into your solution on a white label basis
  • Demo, logging in using 4 digit passcode (not your eyeballs),
  • Load any card, not just those from your bank; aggregate offers (from various sources, or create your own); full digital receipts
  • Nice big green pay button, scan barcode presented by the POS terminal –  no card data revealed to the merchant POS
  • Now demonstrating pay at the table in restaurants, receipt has a bar code that you scan using the app, ties in coupon that he demo’d
  • Now demonstrating online bill pay using bank mobile wallet, scanning QR code off the bill / statement. Can change the date of the payment before schedulging. Also registers the payee biller as one of your payees in online banking for future use
  • Now we are pre-setting up a withdrawal from checking account, then visiting ATM and getting money that much faster [is this really necessary?]


  • I want to “fund your brains out” – Lending Club meets receivables funding
  • Growing, thriving businesses that can’t get sufficient capital to grow
  • Leverage receivables at a more affordable cost – extend lines of credit to business, pay crowd funders, 7-9% APR passive investment; 60 day liquidity
  • Crowdfunding lowers cost of capital, using technology to make it easy
  • Currently only open to accredited investors, view dashboard to start, get updates on your investments, and upcoming releases. Portfolio, transaction history, etc.
  • Load funds into your account, using Dwolla [really?]
  • Buying a proportionate percentage of every invoice in the portfolio [remember, receivables financing, so you are lending against the small businesses pending payments from larger customers that are more secure]


  • Usher the first mobile identify network
  • Establish identity that replaces plastic credit cards, tokens, passwords, etc.
  • Application presents one time QR code, good only for a few seconds — scan with Usher app, access is granted, screen refreshes automatically; nothing passes between the website and the phone
  • Demo – calling customer service rep, asks for current Usher passcode, read out to rep to validate you are who you say you are
  • Can lock down that the identify with voice recognition
  • Can use it to pay for things, POS system presents QR code, scan with Usher app, then select preloaded credit card.
  • Not a payment solution, work with various partners, payment methods
  • Usher can scan POS, or POS can scan Usher presented QR code [this is very similar to Paydiant, previous demo]
  • Sign a check with eSignature and Usher stamp [I am unclear on how this is working], then scan and deposit
  • Also replace physical keys and
  • Audit trail for all interactions


  • Chris Larson, of OpenCoin, formerly of Prosper and eLoan
  • Second generation of the Bitcoin concept
  • New global, math-based currency called Ripple
  • Global payment network that allows anyone to send any currency, irrevocably, for free “enabler of a new global payment system”
  • Ripple is a distributed open sourced protocol, wallets integrate,
  • Multi-currency — using Ripple as the native currency, a currency like Bitcoin that is without geographic source or central authority — that can be traded at established rates for other currencies. Can have Bitcoin in Ripple wallet, can use it to send Bitcoin to someone else.
  • Goes through a process of “consensus” to send via distributed currency exchange. Anyone can put out a bid/ask with any other Ripple member, thus creating “pathways” to send funds. Appears to send much more quickly than sending Bitcoin.
  • Q. What if I want to send dollars? You can store multiple currencies in your Ripple wallet.
  • [Graphics of the live network, demonstrating “trust paths” are really cool, I’ll grant him that]
  • “Federates networks,” enabling transfer of funds between networks without “trust paths” between them
  • Open protocol, no fees, no licensing, free to use — inviting developers

We’re on break for 3o min… off to find coffee. More later.


Wallaby Financial

  • Mission to help consumers get more out of their credit cards and make the most of financial services products
  • Existing: Wallaby Wallet and Wallaby Card
  • Existing: Uee the Wallaby App to look up the right card to use in any given transactional situation
  • New: But now, moving beyond POS, to Wallet Boost – launching today
  • Leveraging Intuit to connect with banks
  • [ugh, demo gods didn’t like their offering]
  • Want a new bank? Go through a few questions (e.g. approx credit score, location, favorite hotels, whether pay or revolve balance, ever use a balance xfer?)
  • Figure out what kinds of cards you already have, new ones you should get to save even more, last 90 days transactions, then faciliate application for new credit card


  • First online tax planning solution for consumers, unlike Intuit, H&R Block offers year round tax guidance [now I get the “April” in their name!]
  • Good April tax check up — finds tax saving opportunities for YOU
  • Analyzes new tax rules and determines how they are going to effect YOU
  • Sign up with user name and password, upload PDF of your most recent tax return, runs algorithums and creates a easy to interpret report
  • Margina and effective tax rates, how much you are likely to pay
  • Impact of new rules; how you can save money this year
  • but wait, there’s more… how much can you really save? One in three of us are throwing away $450 each year by not
  • Real time monitoring of finances to suggest how you can make changes now to impact this year’s taxes


  • [This guy gets the best voice award; he sounds like an old-school radio announcer]
  • Validate identify in face to face situations
  • Demo: Get this, we are going to attempt to take over Jamie Dimon’s account – do some googling, provide enough info that makes it appear that we are Jamie. Provide a fake NY State ID (not that hard to come by) with our picture, not Jamie’s. Banks are using public record data to evaluate potentially fraud, so are we the fraudsters. So match, and we get a credit card in Jamie’s name and off we go…
  • But AuthenticID “Paradigm” shift, that provides absolute confirmation that the person is who they say they are. Using private data sets, not public records. Use ID that prospective customer provides, scan it (use any scanning device) and go against NY DMV to verify info ont eh front of the ID, but there is a big problem, picture doesn’t match. Thwarts account takeover.
  • Prevent 65% of Identify Fraud today, more to come

NICE Systems

  • Demo of Nice Mobile Reach – converging self-service with customer service
  • Within app, pop up offering “do you need assistance” and connect with a sales representative via voice
  • Customer service rep sees what consumer is trying to do, talks consumer through taking out a short term loan, sign with finger right in app on pop up screen,
  • [This is a good demo — fun, made it seem like personal bank xfer issue interrupted the demo, we can see customer service rep screen and consumer app side by side.]
  • Real time engagment with customer via mobile app, text interface, and voice simultaneously
  • At the end, pop up to get real time feedback on customer service experience
  • [This is the kind of thing my favorite branch-less bank USAA would dig.]


  • Partnering with Intuit, with 4+ million small business customers on QuickBooks
  • Kabbage using QuickBooks data to underwrite small businesses
  • Demo: small business that does weddings and events, tries out QuickBooks financing
  • enter basic info (doesn’t Quickbooks already know that?), credit score, which industry, how much she’d like to borrow, and how quickly she needs it, and what loan will be used for
  • Attempt to match to potential lenders, including Kabbage
  • And now we switch over to Kabbage part of the demo, using eBay, PayPal, Authorize account, etc to evaluate credit-worthiness of small businesss. Now adding QuickBooks as a data source to view open
  • Using Intuit API, to share QuickBooks info with customer approval, with partners like Kabbage
  • So much rich data in Quickbooks! Are expenses spread across multiple projects? Does small business use a number of vendors, dependent on multiple sources or just one,
  • Facilitate application
  • Can elect to borrow less than amount approved, come back for more later
  • Repayment plan laid out clearly
  • [so, is loan automatically created as a liability in QuickBooks, are repayment transacions automatically scheduled in QuickBooks? That’d be cool.]

Lodo Software

  • D3 product = data driven banking, across various devices, solution for banks and credit unions
  • Pretty dashboard to view bank accounts, other assets (e.g. house)
  • PFM services with ability to split transactions, view check images, budgeting tool pre-populates based on past transactions and income, set goals, etc.
  • More to come for small business cash management, wealth management, etc.
  • All services and data rendered appropriately for iPad, iPhone, etc. – easy for FI to deploy
  • Personalize for individual customers, using D3 Management dashboard for FI, view whole portfolio, create campaigns to track specific customers based on their transaction patterns, usage behavior, etc.
  • Demo: campaign focusing on retirement savers, those with credit card debt they have to pay off, or mortgage with high rate that is optimal for refinancing; can target based on income you see coming in via direct deposit
  • Demonstrate value to customer (e.g. save $ by refinancing)
  • Maximum flexibility via APIs, built on data analytics


  • Secure digital identity without usernames and passwords,
  • Avoids shared secrets, more convenient for users, more secure and customization for the FI
  • Uses encryption, like a safe deposit box, two keys – two factor authentication that complies
  • Quick fill: user only has to click twice and tap once
  • Digitally sign transaction, provides nonrepudiation for FI
  • [Demo with an old school AT&T princess phone, haven’t seen one of those in ages.]
  • Q. What happens if you lose your phone? A. Can lock devices
  • Partnership with MyVest, provider of wealth management solutions to FIs. Customize to provide both simple and more secure two factor authentication for regular uses and administrators respectively.


  • Twym: use Twitter to send money using Yandex money (the dominant online wallet in Russia)
  • Link Twitter account to Yandex account
  • Demo: Start up founder uses Twitter and ask for support, links account and then sends Tweet asking for funds
  • Followers elect to fund, and the fact that they have supported the start up is shared, using viral reach of Twitter

Palo Alto Software

  • Demonstrating with MasterCard 
  • Small businesses are a huge opportunity, 75% of businesses in the U.S.
  • MasterCard business network enables small businesses to gain buying leverage that larger businesses usually enjoy. Discounts, free shipping, etc.
  • LivePlan partnering with MasterCard, adding business planning capabilities to MasterCard business network
  • Allowing small business owner to develop plan
  • Financial forecasting (revenue, personnel, expenses), cash flow forecasting,
  • Walk small business owner through the process, providing accurate calcuations behind the scenes
  • Scoreboard to track progress against the plan
  • Use Intuit APIs to connect into QuickBooks, recognizing that small business owner likely relies on bookkeeper to manage dayto day finances, import data regularly, allowing entrepreneur to use actuals to measure against plan
  • [Much, much friendlier than the meager budgeting tools within QuickBooks]
  • Also relationships with Barclay’s, NatWest, and [I think she said Blackrock?]



  • Omni-channel — connect online, in-store and mobile transactions between consumer and merchants
  • Corduro register in App store – can use it with Star receipt printer and cash drawer, lower fees by 30%, but that’s not what they are here to talk about
  • Allow individual to make payments for a variety of organizations on one device, not merchant specific
  • Least cost routing — avoid credit cards, unless of course it is a store issued card
  • Seem to be focusing on healthcare
  • As a non-profit board member I like the donation features
  • [I am unclear what distinguishes this from every other wallet out there]


  • Tailored advertisements on bank website, adapt messaging as consumer clicks on various parts of FI website
  • e.g. if click on Merchant Services, drop consumer oriented banners, and instead offer small business products
  • Nice dashboard to monitor campaign effectiveness; individual users that interact with the site are logged, info linked to more info on that customer [I think that’s what he said?]
  • If consumer does product research and doesn’t complete an auto loan application, each time they revisit the banks site theywill be encouraged to finish the application, regardless of whether they are on mobile, tablet or desktop. Can send nagging txt messages to consumer, reminding them to finish that loan app, too.
  • Integrate with digital channels
  • I think the product is called “Kernal”

Virtual Piggy

  • Two things you care most about: your money and your kids
  • Virtual Piggy wallet for youth (under 18) market
  • Parents set boundaries/spending thresholds for children
  • Child typically interacts via ever-present smart phone
  • Wallet includes targeted offers
  • Location enabled, shows retail locations near by that my parents will let me buy things from
  • Child wants to buy something, but doesn’t have a credit card or bank account. But merchant accepts Virtual Piggy wallet. Child places order, but order is actually funded via parents credit card (presuming it is within rules established in advance)
  • Also supports gift cards, so friends and family can fund teenager’s wallet
  • Not just about spending, child can track savings against goals (e.g. cool new shoes, car)
  • [I really wish the theoretical girl user was buying a soccer ball rather than a sparkly hairband thing]
  • Can use NFC or work within existing payment rails, integrate with majority of retailers existing POS within 5-6 weeks

Internet Biometric Security Systems

  • Patented four-factor authentication tool
  • First, gather personal data, verify to ensure it is still valid (vs. FI only doing verifiation when account is first setup)
  • Combination of biometric tools: voice and face
  • Demo using voice to access bank account
  • Once within FI site, initiate live video chat with bank representative [with a green marble fireplace in the background!]
  • Demo secure email with biometric authentication


  • Addressing money anxiety issues for Gen Y, under and unemployed, less job security
  • Need to invest more in themselves, be more mindful about money < not getting a lot of support from industry
  • And of course everyone hates budgeting
  • Three tools: Money Pulse, Money Path, and [missed it] for when you Spend, Live, Save
  • MoneyPulse – spend this month, vs. monthly average – need to slow down! Gives suggestions on categories where you should cut back (e.g. eating out, clothes)
  • Money Path – shows that if you adjust and spend less for the next # days, then you’ll be back on track by the weekend
  • Money Track and filter transactions
  • Oh, and you can pay your Facebook friends, too.
  • Moven account, using card or contactless sticker, provides real time spending assistance on any purchase. How much I spend, how much I’ve spent on this category this month, and whether or not I am over budget in this category [might have been more helpful to alert you BEFORE you made that purchase]


  • TSYS has a commercial card product, Spend Control, enables companies to spend employees that they may not have provided purchase cards to otherwise
  • Today, demo’ing a similar product for consumers
  • [I am loving the teenager-demo interruption, Frank’s daughter via Facetime wanting Dad to provide a new debit card ]
  • Use app to suspend the lost debit card; look up where kid is (using geolocation capabilities of her cell phone), pick a CVS nearby, set up budget for this card by merchant category (e.g. $500 for hotel, $100 food, etc.)
  • Pick up a spare card at a retail location, right now (anywhere you can buy a gift card)
  • FI can charge for it or not, their choice
  • Demoing daughter’s experience, first notification that first card was suspended. Then use app to scan barcode on the prepaid card she just picked up at CVS. Card activated and linked to her account, right there in store.
  • TSYS pays merchant commission.
  • Using NetSpend, which TSYS acquired for $1.4 billion back in February

Better ATM Services

  • ATM dispensing gift cards
  • Q. How did the ATM do it? Software upgrade and tiny little hardware module
  • Durable plastic card that ATM can dispense it
  • Three pieces: 1. payment card (snaps off), 2. customer info, and 3. finally coupon, promotion, or incentive
  • Largest card distribution planet on the planet
  • A. why would you get a prepaid card at the ATM rather than cash? Q. Because they want and need a prepaid card
  • [This is actually a very useful means to promote financial inclusion and deliver P2P remittance payments to unbanked consumers overseas, as opposed to visiting a bank or other agent of the money transmitter.]
  • Of course, FI fee revenue for the issuer.
  • ATM becomes an income source for the FI

Realty Mogul

  • Crowdfunding for real estate
  • Limited marketing, thus far, waiting for jobs bill to be finalized
  • Accredited investors only, provide info system det
  • Browse investment opportunities
  • Two types of investment 1. loans backed by real estate assets, 2. equity interest in commercial property (residential, offices, retail)
  • Already realized 10% annualized return on beta investments
  • Data for research  info on location, property itself, investment metrics, management team (integrating LinkedIn) and includes project financials – equity breakdown, etc.
  • Invest as individual, through retirement account (self directed IRA)
  • once confirm investment, all necessary documents are created, with secure document signing online 24/7
  • Integrated with an ACH provider to accept payment
  • Investor dashboard, to watch performance of investments
  • Facilitate cashflow, send distributions to investors on a monthly basis on loads, quarterly for equity investments
  • [This takes crowdfunding to a whole new level…]

GoBank (by Green Dot Corporation)

  • Real bank account issued by Green Dot Bank, in beta since January of this year
  • Going live, available to consumers as of July 4 in honor of independence day (become independent of your traditional FI!)
  • Claim that its an all new “super fast, delightful experience”
  • More personal, you design your own debit card, integrate
  • One click to ATM finder (network of 42,000 ATMs, twice as many of BofA or Chase)
  • Budgeting features, call it your “vault”
  • Fortune teller app, provides feedback on potential purchases (mascot is a dog)
  • [Hey, that’s what I was asking for a few demos ago]
  • Easy to send money, too. Recipient can get a GoBank account on the spot, funds receive money right away
  • Choose your own fee – simple slider on the app, from $0-$9 a month
  • Using social media to generate awareness, buzz
  • Partner with retailers, marketing partners and even reality TV shows



  • A Finovate veteran: “Expense reports that don’t suck”
  • Latest realization: invoices and expense reports are really similar
  • Expensify users asking for invoice capabilities, integration with Freshbooks and QuickBooks, simply sending their Expensify expense reports to their clients instead of invoices
  • Expense reports are a precursor to invoicing, so now Expensify can do the whole thing
  • Categorize your expenses just like you would normally do, then strip away the stuff clients don’t need to see, add your logo, a due date for the payment, and send it to your client
  • Similarly, your expense report is a bill that your client needs to pay. So interface for your client to review and pay the invoice, with PayPal (or even Bitcoin)
  • 1.5 million users, 250,000 companies
  • But your client isn’t necessarily an Expensify user can use the client portal to store, manage, and pay other bills (not just your invoice); counting on enthusiastic Expensify users to promote Expensify to decision makers within your clients AP department…
  • [Whoa, serious network fantasies]


  • Start up from Sacramento, CA seeking investors
  • Tapping into mobile wallet confusion
  • Using bluetooth, not NFC, to pair card (a “Helix” card) with mobile for data link
  • Associate various credit cards with the one Helix card, and carry just one
  • Somehow merchants can digitally provision a card to their consumer to be virtually loaded into the Helix card
  • [I’m confused]

MoneyDesktop – BEST OF SHOW

  • [This is the first company to get a whoop cat-call as they took the stage]
  • PFM provider to FIs and online banking providers that serve them, very slick user interface that has earned them many “Best of Show” awards
  • Claim 440%, signed half of online banking providers, [more accomplishments I missed]
  • New today: Debts App, NetWorth and a Money Desktop PFM API
  • Insight analytics tool for FI customers, see who their consumer clients use for auto loans, etc. using iPad – super easy to manipulate, drill down, filter, etc.
  • Enable FI to easily create ads, targeted to financial context based on consumer transaction data and existing FI relationships, products
  • [These guys are really, really good at analytics and visual display but I am so over PFM.]

Trusted Knight

  • Solves “the most threatening challenge in the FI community: stealth malware”
  • Protect all browser entered data from key stoke logging and other malware
  • Simple to install, causes no performance degradation
  • Malware variants are released more frequently than antivirus products can keep up
  • But Trusted Knight Protector Software keeps up [at least that is what they are implying]
  • Top 10 bank customer claims that fraud has been reduced to 0% in those customers that have elected to install Protector software
  • [These guys got buzzed, but are still talking… where’s the hook?]

Braintree / Venmo

  • [Braintree bought Venmo last August]
  • Venmo is a P2P payment play
  • Braintree is a payment platform, that enables developers to integrate payments into their solutions, think Airb2b, Uber, Hotel Tonight, etc.
  • Braintree apps process $8 billion annually, about 25% on mobile which is growing faster than online
  • Recognize that phone is a single user device, connects apps, mail, social media etc.
  • Venmo Touch: When using an app that uses Braintree/Venmo and entering card for the first time, elect to allow other apps on phone to access the same credit card number without having to enter card info again
  • [Convenient!]


  • Majority of Americans don’t have enough money for retirement because they don’t have access to high quality investment advice
  • [Isn’t it because they don’t have enough money and/or elect to spend today rather than save for tomorrow?]
  • Jemstep provides portfolio management that is unbiased
  • Average user linking 4 different investment accounts, with average portfolio value in excess of $600,000 [Not your average American]
  • Perform analytics and make recommendations to improve portfolio – looking at asset allocation, risk of individual holdings within portfolio, capital gains implications, etc. but shield the user from the complexity
  • Creates an action plan, telling user what to buy/sell/hold in order to achieve better performance
  • Very simple to follow the trade instructions
  • Average user seeing a benefit of $300,000 more to spend over the duration of their retirement

Aside: this afternoon #Finovate is supposedly trending higher on Twitter than Angelina Jolie. A first for payments.


  • Not just another payments dongle solution!
  • Unlike PayPal, Square, etc. — not an all in one solution (App, hardware, etc.)
  • Provide developer with a secure dongle for card swipe, an SDK so you can create your own payments solution, and integrate with all the major processors
  • Solution providers focused on healthcare, event ticketing, etc.
  • Claim you can integrate within 30 seconds
  • Tools to track payments, add merchant accounts, reverse transactions when the need arises
  • App developers are creating solutions to solve specific pain points for niche applications, they are not payments professionals! CardFlight is there to help
  • In private demo for the time being


  • Custom banking for your kids
  • Family pack of prepaid cards that work together, tied to one funding card
  • Family banking app, provide kids with a prepaid card and a budget
  • Parents also allocate costs against funds in account (charge them for their portion of the family phone plan)
  • Parents pay them allowance, etc.
  • Kids can establish goals
  • Parents can also pay interest to kids on their savings
  • Parents can also ding kids for not doing their chores!
  • [I think this is lost on me because I don’t have any kids]


  • Easy mobile invoicing – because invoicing sucks!
  • 120,000 business users, adding 300 business accounts each day
  • Fast and easy to use
  • Handles cloud integration with accounting – demo of QuickBooks integration
  • Pull customers, products, servies and pricing from QuickBooks so users out in the field can create ACCURATE estimates and invoices
  • Eliminates double entry of invoicing later by syncing
  • [This is a serious problem — the number one reason businesses are paid late or short paid is because their invoices are inaccurate. A lot more often than you’d think.]
  • Can attach a photo to the invoice to prove that work is complete (e.g. landscaping, repair job, etc.) or of product that has been delivered [I love this feature!]
  • Can accept payment at the time (via credit card) or grant trade terms for customer to pay later
  • Partnering with SparkPay for mobile payment, sync back to QuickBooks
  • Announcing today, integration with Zebra [?] for printing on the go

End of Day One… off to network! Back tomorrow morning at 9am Pacific

Good morning, Finovate! I woke up with a hoarse, croaky voice from all that Finovate socializing last night. Fun to see everyone. We’re caffeinated and ready to go for Day #2.



  • Finovera, addressing the paper pile that accumulates in each household: bills and financial statements
  • A digital file cabinet instead
  • Demo showing easy look up of various billers, FIs. etc., then inbox with 20+ accounts, providers, etc.
  • Bills are delivered automatically, consumer does not have to log in to various biller sties to view/download; easy to view, browse from page to page
  • Compare, via charts this month’s activity
  • Pay, via single sign on to your FI to its online banking solution, to initiate payments to billers
  • Some basic analytics on your investment holdings
  • Dashboard – show bank balance vs. total outstanding bills – help consumers by generating alerts
  • Nice little folders to organize in your virtual file cabinet
  • [How is this different than Doxo?]


  • Small and medium sized businesses moving from brick and mortar to online, accept payments much more easily using Stripe, Braintree, etc.
  • But chargebacks much higher, and more problematic, because for CNP transactions, merchant is on the hook rather than card issuer
  • First non-payment gateway to protect sellers – insurance for eCommerce
  • Demo: International plane ticket, person paying different than person traveling, seems suspicious
  • Manual review of transaction is a lot of work – doing reverse look up of traveler and payer on Lexis-Nexis, etc. Google the people, see what you can find out about them, including looking up their phone numbers, IP addresses, LinkedIn and Facebook. Might take 20-30 min.
  • Instead, Signifyd automates the whole process of validating the transaction, reporting back on various attributes including people  accounts, phone,s physical locations, organizations (employers) and network/IP and provide a score that merchant can use to
  • If Signifyd makes a mistake it takes the liability.


  • Help advisors, asset managers, utilize social networks yet still maintain compliance
  • 50,000 users, mostly in Europe thus far
  • Demo: analyst that wants to engage with potential customers… LinkedIn not focused enough
  • Finect verifies the analyst and indicates that they are who they are, and then creates a aggregator to view and post social media content from LinkedIn, Facebook, Twitter, etc.
  • Can create private groups, e.g. “free advice friday” for clients to do Q&A
  • All posts are backed up for compliance audits, etc.
  • [I am unclear if Finect is attempting to create its own network, or is simply providing a tool for engaging via existing networks]
  • Second demo: An equity analyst now. Appears to be enabling customers to view snapshots of individual stocks with charts, relevant Twitter chatter, etc.
  • Third demo component: the compliance officer has dashboard to view posts, responses, shares, etc. that employees create


  • First payment platform to help businesses reduce debt, from Spain, where business debt is a huge issue
  • Businesses from all industries, of all sizes
  • Netting is core feature – enabling
  • Payments – both traditional supplier payments, from buyer to its vendors, on Licuos open payment platform
  • Funding – means of obtaining financing from non-banking third parties
  • Dashboard shows over all position, drill down to individual invoices – integrated with ERP/Accounting or invoicing system
  • Algorithmic suggestions of the best means to make payments
  • Using netting to pay off accounts receivable to pay off accounts payable (what is owed to you to pay what you owe). Enables customers to manage cash flow more effectively
  • Can fund payment via wire, or credit card, or gain supplier financing via a third party – corporate investors and family offices investing in fund


  • New feature on mobility mobile banking platform
  • Snap to Tag – snap picutre of a receipt or invoice and tag it to attach it to a line item
  • View banking transactions, many have an icon to demonstrate that a receipt is embedded
  • How do the receipts get there? Two options: 1. Manual: The consumer takes pictures of their receipts using the online banking app [really?]
  • Option 2:  this option is more automated [not sure how]
  • [This is an example of retrofitting an old school solution with modern innovative features — mobile wallets promise to include deep POS integration, including full line item detail in native electronic format from the retailer, flowing to consumer. This is the work around for the time being.]
  • Rationale 1:  consumer market research indicates anxiety about losing important research
  • Rationale 2: keep FI brand front and center.


  • From Norway – security solution from “highly innovative” northern european banking industry
  • Make it easy for FI to implement two factor authentication
  • Status quo: Bad user experience, traditionally, particularly on a mobile and susceptible to man in the middle attacks and are expensive to deploy
  • Immediately recognize smart device as first factor, PIN as second factor, and optionally biometrics as third factor
  • Embed secure mobile banking app from bank website (after signing in)
  • Link mobile device to online banking
  • Uses keypad biometrics – how consumer interacts with the mobile device touchscreen [that’s cool]
  • Banking grade – in fact only way that consumers in the Nordics can access their online banking
  • Now showing eRetail example, purchasing online and pushing funds from bank account to merchant, authenticating with mobile [for those that aren’t familiar with eCommerce in other parts of the world, this is a very common payment method in Northern Europe, rather than using credit cards]


  • Reduce dropout rates of customers via mobile, get new account holders via mobile channel
  • Demo: Campaign to attract student customers, mobile app to complete account application. Rather than enter data, student just takes picture of drivers license – used for two purposes, 1. identity verification and 2. provides name, address info without having to type
  • Capture both front and back of the license, 41 [47?] states have barcodes on the back with all the data embedded < 100% accuracy
  • Student confirms info, accepts Terms & Conditions, enters SS# to enable credit bureau look up
  • Then presented with services: types of accounts available to the consumer
  • Now, need some additional info, ask student to provide proof of residency, by taking a picture of utility bill
  • Consumer doesn’t have to visit branch, can apply for and setup bank account at their convenience

FlexScore (formerly LeapScore)

  • Rebranded from LeapScore to Flexscore
  • Mom with a home based business, needs advice to better manage her money
  • “Financial Advice for the Rest of Us” from Valley Wealth (Modesto, CA)
  • Actual, real financial advice from boots on the ground financial advisors
  • Enter some basic info: age, where you live, your dependents, etc.
  • Link accounts to data aggregation tool
  • Score across 14 categories, and in aggregate – rank against peers, locally and nationally based on age and income
  • Let you know if your goals are realistic, and get advice that is tailored to you: specific action steps
  • Would have to have several hundred thousand dollars to get one:one advice from a traditional advisor

BBC Easy

  • Commercial lending made simple: believe that borrows and lenders should be able to work effortlessly together, without tedious paperwork
  • Both during loan application process and ongoing loan monitoring
  • Rather than coming to branch and dropping off a ton of info, that bankers enter
  • Instead, small business completes online application, banker views dashboard with application data and risk indicators
  • Charted accounts receivable trends for small business applicant, make judgement; view ratios across a wide range of business measurements
  • Pre-qualify SMB within a few minutes
  • Solution integrates with small business accounting package (top 10 U.S. accounting systems) to gather data — no need to actually enter the data [that’s the best part]
  • Dashboard allows SMB to upload business financial data from accounting for Borrowing Base Certificate easily in order to draw down line of credit



  • Enterprise software based on artificial intelligence
  • Use case: Tool to complement bank CRM to compile relevant info to help bank personnel prepare for client meetings in a friendly format
  • Also provides targeted suggestions for cross-sell
  • Largest customer using today with 12,500 employees, with significant productivity increases
  • Use case: narrative reports automatically generated from data, “utilizing synonyms and variations in sentence structure just like a human being”
  • Data stays on the FI server
  • Use case: consumer fills out questionnaire online, receives customized advice immediately

Balance Financial

  • Financial servies, are naturally collaborative. Client collaboration is critical to success, but tools aren’t very helpful
  • Balance is a digital office for financial professionals
  • Create a “workspace” to share with client
  • Demo: working with a customer on a new loan,
  • Need to include a wide array of different constituents: internal colleagues, client, family members of client, other service providers supporting consumer (e.g. estate planner, attorney, accountant)
  • Needs to be very targeted: don’t want to overwhelm the client with information, focus — minimize clutter
  • Tasks, ability to upload files, chat, etc. and also has a cool Evernote-like web clipping tool, with means to comment, ask questions, etc.
  • Integrate data: partner with Yodlee to aggregate account info
  • Use cases include financial advisers, asset managers, loan officers, etc.
  • Fill gap between back office technologies – CRM, Portfolio analytics – and consumer facing tools e.g. PFM
  • Platform live for 18 months
  • Can create a number of different templates for bookkeepers, advisors, trust officers
  • Available as SaaS solution, 1200 users and starting to work with large enterprises to suppor their teams


  • “Know who to trust”
  • More than a hundred million people visiting financial news sites each day — overwhelming amount of advice out there from reporters, analysts, etc.
  • How to distinguish those that consistently outperform the markets, vs the rest
  • Co-founder decided to analyze performance of tips of a well known tech analyst, for his own purposes. Determined he’d been taking advice from teh wrong guy. Why not create a service for others, to understand?
  • Cloud based, scans internet, measures accuracy and accountability of those providing sell side advice [I love this]
  • Browser add on, with pop up to show an accuracy report with graphical elements [omigod, I totally love this]
  • Tiny little pop up window has tab with rating history of this analyst
  • Compares this analyst to the top three analysts following this stock
  • Tipranks is a technology company, not offering advice, but letting you know the experts with the best track record
  • Can also search TipRanks for a given stock (rather than starting with an analyst); find analysts, drill down to specific articles
  • Tracking recommendations as they are being released

Intuit Financial Services

  • “When Mint came into our home our home got nicer” < husband and wife fighting less about money
  • Reduce financial stress and save money for even more consumers
  • How? Offer through FIs and also offer to small businesses
  • Reach the 20 million Americans who have complicated their lives by starting a small business [there is vast need out there among sole proprietors that are likely co-mingling business and personal, making things a complete nightmare at tax time]
  • Power of Mint on front page of online banking
  • Bring them offers, or personal content relevant to their personal situation
  • Categorize (and even split) transactions between personal and business
  • Business categories based on Schedule C IRS forms
  • All other Mint features have split between business and personal, easy to toggle between
  • Can also track mileage from phone app
  • Mint autocategorizes transactions throughout the year
  • Tax tips along they way
  • Can export to Excel to accountant or directly to TurboTax


  • Smartphone based eWallet usage very low, but now GoNow programmable card will ignite the eWallet
  • Easily add any card to your wallet, gift card, credit card, debit card
  • Card has a secure element, that can be used to complement or replace secure element on phone or in the cloud
  • Without any changes to retailer POS
  • Case for phone, app on phone, and special GoNow card itself
  • Demo’ing app with loyalty cards, credit cards, gift card – consumer can elect to have one card as “top of wallet” and then slides GoNow card into sled case on phone, which automagically programs the GoNow card to emulate your top of wallet card. The GoNow card blinks to confirm it worked.
  • Now using dongle to enter card data into the eWallet and provide a security code associated with the card, saving it to the secure element on the GoNow (card? app?)
  • [Speechless]

Credit Sesame

  • Credit and loan expert
  • Personalized financial analysis, monitoring credit score, offering targeted advice, all for free for consumer
  • Expanded mission to identify best credit and loan options for consumers
  • Over 2 million users of Credit Sesame, now have a mobile option
  • Consumer uses app to add goals (e.g. buy car, save downpayment for a house, protect credit)
  • Dashboard of financial profile on phone app – credit score, total debit, home value, advice, and credit monitoring alerts
  • Helps consumer understand how much they can realistically borrow
  • Mortgage map graphically presents loan options, tap to view details on loan
  • One quick tap to reach out to prospective lender, submit inquiry (Credit Sesame auto populates with consumer info from profile)
  • Now integrated real estate listings, too < integrating Trulia, so consumer doesn’t have to bother to open another app on their phone


  • Vitual agents that extend reach of financial institution customer service team: social, mobile, and web virtual agent (an avatar)
  • 6/12 largest banks in No America use the solution
  • Demo’ing natural language interactivity, via Q&A with a virtual agent of RBS, complete with a bowler hat
  • Now contrast with Citi (without IntelliResponse) and same search on Citi  website results in 2300 hits, none of which really address the question
  • Increases self-service success, preventing calls to customer service rep
  • Treat the customer the way they want to be treated, wherever or however they want to interact with their bank
  • Now demo’ing mobile – voice recognition, “where is the closest ATM?” “what is my bank balance”
  • Now demo’ing on Facebook – get advice via Facebook app
  • Dashboard for FI rep to visualize questions, test marketing campaigns, etc. [cool visuals]


  • Millions of consumers are unbanked or underbanked
  • Receive IRS mailed check, take to check casher, pay fees unnecessarily
  • Refundo has been enabling tax professional to open account on behalf of consumer to receive IRS refund [I missed whether it was a prepaid account or an actual bank account]
  • Now offering mobile app
  • Show balance remaining in account, easy look up of routing and account number, make transfers to other people in the Refundo network – instantly and for free
  • Loading money into Refundo account via any one of its Western Union agent locations, or deposit a check by taking photo of it
  • Create alerts to notify consumer when they reach a specific (low) balance
  • [If you have any doubt that there is a need for this type of service, consider the AmEx + Walmart collaboration Bluebird]
  • focused on underserved community, work with tax professionals that have a level of trust and speak language of their customers
  • all four major banks have mobile apps, none of those apps are in Spanish
  • We are insiders looking out, we come from this world – presenter from QUeens, grew up unbanked, then was underbanked, supporting his community


  • Location based offers via Visa platform
  • [Visa disclosures in legalese, via powerpoint and read aloud, good grief]
  • Real time redemption of merchant offers at POS
  • Merchant, enabled by acquirer, can create offers using Placecast campaign management system
  • Can be a txt offer, or graphical offers
  • Select location parameters, geofence around the store location
  • Start and stop times
  • Add Visa POS redemption – links consumer card to the offer
  • Create a bid price, like Google offers, that merchant pays
  • Cardholder enrolls their card
  • At the point when the consumer uses app to “clip” the offer
  • Placecast sends redemption to Visa in real time, offer discount applied in real time as transaction is processed – charge is net the discount
  • Merchant staff doesn’t have to do anything
  • Consumer doesn’t have to have an offer code or do anything
  • Visa notifies Placecast when offer is redeemed and in turn Placecast sends notification to the store
  • Redemption data is included in the authorization stream and is included on the receipt printed by the POS system, including promo code and telephone number to call with questions



  • Every year merchants lose an estimated 10-20 billion to eCommerce fraud
  • Software service that analyses payments data
  • Reduce fraud, and the cost of managing fraud
  • How to achieve the same over all protection, but only have to review a smaller subset of the transactions
  • Definitely understands the market and the problem; probably way too in depth for most of this audience
  • This is really a back office solution, and the UI doesn’t hold up to the slick consumer facing UIs, but it shouldn’t have to
  • Finding fraud is realtively easy, stopping fraud without eliminating good transactions is much harder!


  • Remote deposit for cash, turn currency into
  • Cash isn’t going anywhere – in fact the use of cash is increasing
  • But handling cash is risky and expensive
  • Working with a range of
  • Turning retail stores into deposit locations – make a payment at 7-Eleven. PayNearMe is integrated with the retail POS for real time updates to the merchant back office
  • [I am so sorry that those of you reading this can’t see the visuals — you must watch the video when it becomes available]
  • Any small business can contact PayNearMe and sign up to receive cash payments at retail locations
  • When this became possible, fin tech providers and banks became interested, so now all PayNearMe products are being made available to FIs
  • Demo: Property manager signing up at bank to enable cash payments, enter manually or upload customer listing; can either print out a pay slip that customer can use to pay or send an electronic voucher
  • Go to 7-Eleven, scan voucher on consumer’s phone, pay cash. 7-Eleven POS updates the merchant (via its bank).
  • [PayNearMe rocked it]

Arxan Technologies

  • Application integrity protection for the app economy
  • Showing message alerts at FI/enterprise when consumer attempts log in to app via phone
  • In demo: phone is stolen, alert says “jailbreak
  • [Oh no, this is way too technical for my taste… we are watching them edit binary code, as they say things like hexadecimal. They lost me and everyone on the Twitter stream, and probably most of the audience, too.]


  • As a result of the Jobs Act as much as $300 billion will go to small businesses and startups
  • Working with angels and VCs to syndicate investments
  • Features catered to investors
  • Never writing a check, signing
  • Live streaming due-diligence sessions
  • Investing in a start up as easy as investing in a stock
  • Start ups looking to raise capital increasing 40%+ month over month
  • Accredited investors on site have $35 million to invest
  • Demo: profile of companies, financial data, legal documentation related to offering
  • Virtual meeting with video and shared presentation [funny, the SeedInvest team is online live with us from New York; a bunch of young guys giggling]
  • Click big “invest” button, sign documentation electronically, third party ACH authorization partner verifies transaction and voila!

Allied Payment Network

  • Product is “picturepay” for mobile bill pay
  • Camera becoming central to mobile banking (think mobile check deposit)
  • Next use: bill pay – easy for user, and ability to make a payment even faster
  • 30% higher adoption than traditional bill pay on mobile banking, after only three months
  • Demo: Use app, select make payment, take a picture of the bill (the coupon portion you would return in an envelope with your check), submit the image, then enter date and amount [better than the biller having to print a QR code on the bill]
  • Made the payment AND added the payee to online banking
  • Demo: now making a payment using voice recognition “Pay Comcast $25 on Monday”
  • [Okay, we’re getting silly here.]

Mortgage Harmony

  • Addressing mortgage paperwork nightmare
  • [This is the first patent shown on screen at Finovate]
  • Loan retention software for correspondent lenders, who meet with builders, real estate agents/brokers, etc.
  • This is specific to loans that reset, that the lender maintains rather than selling
  • Tools for the lender and their channel sales as well as consumer to manage the loan and easily with one button “click to reset”
  • Refi process reduced from 60 days to 30 seconds
  • Paperwork distributed to all parties, as appropriate
  • Ability to cross-sell additional products to the consumer [the demo literally says “but wait” there’s more]


  • Currency exchange solution that every bank and credit union can offer
  • For individuals and business clients to
  • SaaS solution makes it easy for FI to implement, yet also cusotmize
  • Back office solution for the FI, plus customer facing website
  • Consumer can see their favorite currency trades at top of dashboard, current rates (refreshed every 30 seconds) and history
  • Purchas ecurrency and [ay to multiple or one beneficiary
  • Indicates rate, fees, when recipient will receive funds – all done within 30 seconds
  • Has limit orders — customer can set a rate that is better than the current rate, enter a pending transaction that will automatically be initiated if the rate falls below customer target
  • Manage beneficiaries [that’s payment recipients to the rest of us]
  • White-labeled for FIs and their partners (correspondents), primary FI can establish rev share with partners
  • Back office screens enable FI to
  • Deal rate, where FI actually purchases currency if they don’t have their own trading desk – Cymonz can provide potential liquidity partners
  • [This is cool, so many small banks are dependent on bigger banks as their correspondent provider – this could be a nice option, but competing with the likes of Western Union trying to sell FX solutions to smaller banks]


  • Fraud solution for mobile paradigm
  • Demo how to securely activate and protect a mobile wallet with voice biometrics
  • In band voice biometrics and out of band [something i missed]
  • In band, so no phone call, no friction due to signal quality
  • Prevent false negatives by falling back to non-biometric authentication as necessary
  • Demo: consumer is prompted to speak specific phrase “activate application”
  • Receive a phone call, told to enter a specific number to confirm
  • gain access to the wallet (only have to do that the first time) because using fingerprinting, checked against blacklists, and done some geo-fence
  • Now, demo’ing how consumer would authenticate to wallet on an ongoing basis by saying “activate application”

Bright Funds

  • 90% of American’s give to charities, a lot of it 
  • Helps donors manage their charitable giving, with same ease and impact as investment managemetn
  • Build a portfolio, based on interests e.g. causes, use sliders to adjust allocation accros causes (e.g. Education, Fighting Poverty, Environment)
  • Invite non-profits to be part of funds, based on impact and how well the organization is run
  • CARE and Oxfam America are participants
  • Combine nonprofits in funds to create holistic approach, e
  • Can pick your own favorite non-profits, too to create a complete look at portfolio
  • Fund in three ways: 1. Credit Card 2. Through employer through payroll deduction, 3. from investment portfolio proceeds
  • Measure results, via “impact timeline” – AND share via social media
  • [I want to get the non-profits that I am on the board of in a Bright Fund!]
  • One click tax reporting
  • Three announcements today: 1) out of beta, and live at 2) go live at first two workplace partners 3) will partner with financial services providers
  • [I love this]



  • ACcount analytics and peer data – where do we stand, what’s next?
  • What is missing from PFM? Context. Aggregated data has no meaning without reference to other households, individuals
  • Within just 5 clicks, matched to one of 120 peer groups – categorized based on age, marital status, education, whether or not they own a home, if they have children and even where they live
  • Financial performance is a reflection of demographics, location, and opportunities
  • Interpretation: first a Status Check, net worth, cash flow, risk management – scored, and compared to peer group
  • [Nice clean interface]
  • What’s next – includes both opportunities (e.g. switch providers) or actions (e.g. reduce debt)


  • Enterprise marketing company, help FIs deepen relationships with existing customers and improve cross-sell
  • Kudos to this company, getting their customer to do the demo for them = US Alliance (a credit union)
  • Pretty good at cross-selling in the branch or on the phone, but not so well online; banner ads useless
  • “Amazing engagement levels via micronotes”
  • Listen, educate, and advise — also follow up on loan applications in progress — via “Quick Advisor” dialogue box
  • “Go to tool for building relationship with members online”
  • Leads, follow up and fulfillment – automatic email to FI employee to follow up with customers about prospective new products
  • Lead reports for managing follow up
  • Build relationships with customers that no longer visit the branch

Tradeslide Ventures

  • Another Spanish company
  • “Discover your trading talent” a thousand amateurs out there for every professional trader on Wall Street
  • Commitment and a guiding hand to help traders
  • Whoa, serious analytics on trading activity, easy to zoom, view individual trades
  • Logged via broker, automatically, documented < so the day trader can use his track record to apply for a job at Goldman Sachs
  • Benchmark individual traders against other amateur traders, earn badges
  • Goal is to become an investable trader (that someone else might trust with their money)
  • Provides contextual help – a crowdsourced “investopedia”
  • Leaderboard of top traders
  • [This is cool, they have gameified day trading]


  • Another secure social media solution [I didn’t realize compliance was such a big deal for FIs; makes sense, I just never thought about it]
  • Posts, likes, images all have to be monitored in order to ensure social media compliance
  • Facebook, LinkedIn and Twitter
  • Manage what customers are saying about you and your brand, monitor your industyr and competitors
  • Also generate leads, demo’ing a search for people within 30 miles
  • Message portal, create post and send to various social networks; immediately or scheduled for some time in the future
  • Settings that enable compliance officer to allow some users to post instantly, others need to have their social media activity reviewed/moderated by another employee
  • Now demo’ing moderation queue enabling approval (thumbs up, naturally) or decline (thumbs down); can provide feedback on why an individual post may have been declined


  • “You deserve a better loan”
  • Focus on small dollar loans, enabling consumers to prove credit worthiness over time and avoid payday loans
  • Instant loan decision and money transmitted instantly
  • Debut this feature here at Finovate: instantly depositing funds into recipients bank account [unclear on how they are actually doing this]
  • Slider: customer chooses loan amount, fees recalculate based on amount borrowed
  • Sign agreement directly on phone
  • Approval message communicated directly
  • Don’t have to fill out payday loan application, don’t have to fill out retail loan application (e.g. compliance) or need an emergency loan to repair car so they can go to work the next day < at reasonable rate so customer is not trapped in debt
  • LendUp Ladder” is credit rehabilitation; get points for paying on time, taking education classes online, earn better rates, ability to earn more money
  • Reporting to credit bureaus so that consumer can gain conventional credit in time
  • [Thoroughly charmed by young presenter so excited when demo transaction finally succeeded “sweet!”]


  • Adobe solution for FI digital management – focusing on creative for website, mobile app etc. E.g. logos, files, images
  • Anyone using “creative cloud” can seamlessly exchange assets with Adobe “marketing cloud”
  • Add images, etc. to libraries
  • Workflows to resize images to match kiosk, ATM screen, website, mobile, iPad, etc.
  • Preview graphic how it will look live in app or on web
  • Create campaigns and measure impact (e.g. A / B testing of this particular graphic, vs. that one)
  • Get ideas out there and fail fast… see what works
  • “Focus on marketing not system integration”


  • From Israel
  • Consumer driven payment platform for mobile apps and sites
  • Demo: banner ad in a weather app “Tall Cappuccino for $1.99”
  • Click on the ad, payment methods stored in app eWallet, select the one you want to use (International brands, PayPal, Dwolla, Klarna, Qiwi < choices relevant to where you live)
  • In “Ad” payment, not in “app”
  • New business model for apps
  • What’s consumer driven about it? APIs are great for the developer, but how do you know that the developer will create an easy to use UI?
  • Instead offer a complete check out experience, provide an SDK library to merchants for iOS, Android, website
  • Everything they need, including the UI for the payment screens
  • Constantly improving based on feedback
  • Merchants reporting up to 50% increase in conversion rates


  • Three E of prepaid card customer management:
  • Enrolling the customers, Engage with them, Enhancing the system
  • Provision prepaid card into content management system
  • Graphics (demo is creating a Finovate branded card)
  • Create a promotion, generate code linking Finovate website to the campaign for tracking effectiveness
  • A few months down the road, want to Engage with the cardholders
  • Send a message to their smartphones, have templates that can be adapted
  • Decide when/how to distribute (e.g. only Android phones)
  • Can also manage what customers see when they log in to view their account balance, etc. – redact portions, add content, etc.


  • A debut, from Mexico
  • First legally compliant, operational P2P lending platform in Mexico
  • Credit card APRs in Mexico go up to 90%; average 50%
  • Fixed income securities offered by banks minimal 2.5%
  • Inflation 3.7%
  • Mexicans typically only hold funds in the bank for transactional purposes (not for saving)
  • Loans that Prestadero are targeting are growing at 1% a month
  • Demo dashboard – showing
  • Diversification index, particularly for novice investors to understand their exposure
  • Value, funds available to invest, loan status, and performance
  • Delve into more detail to manage in more detail
  • Tools to analyze portfolio, make investments automatically
  • Personal, unsecured loans at 8% per year
  • Net annualized returns for investors of 17% (25% return in dollars)
  • Only allow 1 in 20 consumers loan request, debit borrowers directly, therefore delinquency rate very low [I think he said 1%]

Phew. Thanks for reading! I’ve clocked just shy of 10,000 words in this post (9941 to be exact!)

BEST OF SHOW (Audience vote)

Apparently 90% of the presenters received double-digit Best of Show votes, demonstrating the variety. But here are the winners: (in no particular order)

  • FamZoo
  • LendUp
  • Money Desktop
  • PayNearMe
  • TipRanks


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