Finovate Day Two: Bots, Bonds, and a Bit of Blockchain

On the second day of FinovateFall 2016, fintechs continued to wow attendees with bright, dazzling new finovations. Attendees from banks, credit unions, and other fintech companies saw 31 demos of technology that has applications across the financial sphere, from financial data analysis to mobile payments to trading.

The three dominating themes of today’s presentations appeared to be chatbots, including crowd favorite Clinc who demonstrated its Finie bot; online bond portfolios such as BondIT’s fixed income portfolio platform, which utilizes machine learning algorithms; and finally, what fintech conference would be complete without presentations on blockchain, like Bitbond’s automated SME scoring for loans paid out through the bitcoin blockchain?

Below is another quick rundown of today’s presenters:

FIS demoed its cardless cash banking solution, which enables users to pre-order cash before reaching an ATM, or opening bank doors that otherwise require the insertion of a plastic card, all from within the mobile app.

Econiq demonstrated its conversation hub, a color-coded platform which allows enterprises to measure and categorize conversations through the use of color theory for efficiency.

Juvo presented its ID-scoring technology, which can be used to put the millions of global customers who use pre-paid phones on a “path to financial services.” So states the company, which determines in real-time how to advance credit to those users and provides incentives for steady re-payment of those micro-loans.

Clinc showed off its Finie chatbot service, a bot unveiled for the first time at Finovate tackling the “Holy Grail” problem of bots: how to provide frictionless, easy service to customers through natural language. Finie was built to mimic human neural language learning.

eSTORM demonstrated its DualCheck technology, a fraud protection platform which uses mutual authentication to identify and verify users for an enhanced level of security.

Fiserv: This Finovate veteran company demoed its Mobiliti enterprise platform for alternative marketplace lending, a mobile-first solution designed to couple social funding with bank security. The new service allows banks to partially fund loans it might otherwise reject, and pass a portion of the loan to a marketplace lender.

iBank Marketing presented its Wallet+ solution, a platform designed to provide an end-to-end service centered around customer behavior, captured within the platform to identity preferences and financial needs.

ebankIT demonstrated its omnichannel capabilities in an integrated banking platform that utilizes biometric solutions like facial and finger authentication. This allows users to begin an interaction on one device and switch to another to finish without losing information.

Full Profile: Blockchain made its appearance at FinovateFall 2016 in this demo. Specifically, the company debuted its “agri-blockchain” technology, the first-ever platform designed to use smart contracts and a blockchain particularly for the benefit of those in agriculture. The platform allows users to authenticate and record transactions on a blockchain so farmers will be able to deliver goods with the confidence that they will be swiftly paid.

Liferay showed off its Liferay digital experience platform, a software solution designed to allow users to create and deliver an end-to-end banking experience across all devices, mobile or wearable.

Moonraft Innovation Labs demonstrated Catamera, a platform designed to help enterprises stay of top of ever-shifting customer experience needs by helping those companies to build omnichannel, multidevice offerings quickly.

Aspire presented its Aspire gateway, the company’s inaugural product–a smart payments platform for small businesses designed around data analytics.

Bitbond demonstrated its lending platform, which works through use of blockchain, paying out customer loans in bitcoin by using machine learning and enables cross-border lending.

Qumram showed off its compliance technology platform, which records every digital interaction between a client and a professional in a fintech service and saves those interactions in a movie-like form for replay purposes.

brandCrowder demonstrated its alternative investing platform designed specifically for franchises, particularly those in the US, which allows users and investors to explore franchise-specific funds.

IBM Customer Insight: The world’s oldest startup presented its platform for customer insight through analysis of customer behavior, which allows bank executives to predict future life events for customers as well as look at those events in sum as opposed to a segmented view.

AutoGravity demoed its app for auto-financing and buying, where users can submit a credit application and immediately receive loan offers from trusted lenders–it’s an app built by millennials (no really, they’re millennials) for millennials.

BondIT demonstrated its B2B solution for fixed income portfolios, a solution which utilizes machine-learning algorithms–or roboadvisory technology, if you want the buzzword–to find and finance personalized portfolios for users.

Trusona presented its cloud service identity technology–a few times, actually, possibly setting a Finovate record–where a user can securely log-in to the tools and services of the platform with nothing more than a QR Code and a selfie.

And now for the afternoon session!…

MarketX demoed its online investment platform, a localized product that uses blockchain technology and WeChat messaging to connect international investors with shareholders of companies in the U.S., specifically those in companies such as Uber.

Avoka presented an impressive “fintech app store,” a service where one can search for specific vendors to create a specialized fintech solution by using the company of their choice for each componant: identity verification, document pre-fill, and more.

Envestnet | Yodlee showed off its chatbot solution, which analyzes and normalizes customer data to match them with personalized financial suggestions.

KORE then demonstrated its own chatbot, a white-label bot all ready to go with your branding, which can be integrated right onto a client’s website or mobile solution.

STRANDS presented its BFM (Business Financial Management) solution, an end-to-end white label solution specifically designed for SME banking.

M1 Finance demoed its finance platform, an online brokerage it claims is as easy to maintain as a checking account, which allows users to create an online investment portfolio with the creative use of interactive pie charts.

Tango Card showed off its updated RaaS API, which allows users to integrate rewards and incentives into the app or platform of an enterprise.

RightCapital demonstrated an integrated finance and tax planning solution for financial advisors, which provides a holistic view of a customer’s financial plan through data analytics.

FF demoed its behavioral analytics platform, which contextualizes advanced sets of data to help users prioritize their spending and can be used by enterprises as a white label API or through chat interfaces.

Xentral Station demonstrated its supply-chain funding app, which creates fully automated payments and streamlines other facets of the administration process to lower supply chain costs.

FutureVault presented an interactive digital file cabinet, as it stated, which allows users to categorize their documents into 25 categories, each with 175 sub-categories, and was demoed by peering through the CEO’s own account on the service, the “Ferrari” of accounts in his own words, which can be slimmed down for other…”station wagon” customers.

EyeVerify demonstrated its biometric security solution, verification software which authenticates a user’s identify by scanning the pattern of blood vessels through the eyes, and can be integrated with a service’s mobile app or other offering.

And that brings us to the end of FinovateFall 2016! As always there was some great new fintech on display, including the demos presented by this year’s winners, as determined by audience vote: AutoGravity, BackBase, Clinc, MX, Swych, and Trusona!