Finovate Fall 2017 Day Two: Biometrics, Artificial Intelligence, and APIs

Finovate Fall 2017 continued its second day of demos with financial service companies showing off everything from biometric solutions for traders, to how to program an old gumball machine to accept mobile payments.

The day also saw the announcement of which companies won the event’s “Best in Show” award, the winners of which formed a panel discussion on Wednesday, September 13th.

A full round-up of every company that presented during Finovate’s second day is below:

Sensory gave attendees a look at its “virtual teller,” an AI-enabled experience making use of biometrics and machine learning to allow a user to both verify their identity and talk to a realistic virtual bank “teller.”

cyberProductivity is making use of machine learning by automating the invoicing, payments, and accounting processes for FIs.

Moven Enterprise demoed its products for more meaningful, more trusted customer relationships through mobile chatbot and “wishlist” services, that allow for better consumer savings and for FIs to build more lasting relationships.

Pushfor is looking to reinvent how banks are distributing content to consumers, by utilizing push notifications across multiple channels, including mobile.

ENVEIL wants to enable banks to have the data insights they need, without the risk of having that data leak out into the wrong hands. It demoed the use of encryption technology to show how its system would allow for FIs to continue processes over data that never gets decrypted.

eSign Live by VASCO is looking to simplify life for lenders, by using technologies like blockchain and e-signatures to allow users to create a completely digital lending experience.

Finicity wants to simplify the credit decisioning process by allowing lenders to authenticate borrowers more quickly, using APIs and other technologies to provide ID verification for lenders.

PromonTech wants to help lenders through its “Borrower Wallet” platform, which automates the collection of customer data and simplifies the user experience for a better look at changing customer behavior for lenders.

Finn.ai focused on artificial intelligence during a demo of its AI banking assistant, which is designed to go to where the customers are (on platforms like Facebook Messenger or using tools like Google Assistant).

Samsung demoed Samsung Nexsign, among other products, which allows Wall Street traders or other financial professionals to securely manage their workflows. The experience makes use of biometrics like facial recognition.

Uniken launched its “REL-ID 2.0” product at Finovate, which allows banks to verify a user’s identity in multiple channels (like a call center or through email) via behavioral biometrics and artificial intelligence.

ebankIT took a look at voice technology with its demo of “ebankIt by Voice,” a product that enables banks to be on the cutting-edge for the fast-developing voice banking channel.

Envestnet Yodlee focused on financial health, with a demo of its “financial health check” product. The service uses indicators of customer spending, savings, and other features to give personalized recommendations for a user’s financial future.

GreatHorn showed off its email security platform, a service that provides a way for banks to protect consumers or internal users from too-effective (still) phishing scams. The product makes use of machine learning.

YUKKA Lab gave attendees a look at its analyzer technology for banking newsfeeds, which acts as a lending indicator in real-time for FIs. The product uses machine learning and data analytics to aggregate data from some of Europe’s largest news agencies to learn more about the market.

ID Analytics demoed its “ID Connect 2.0” platform, aimed at reducing customer friction during onboarding by using machine learning to automate the data entry process.

AFS or Automated Financial Systems wants to provide banks a better way to provide commercial loans, using data analytics and mobile to provide banks with one platform for the process.

Stash Invest continues to grow, as it showed during Finovate with a look at it’s “Stash Retire” platform, focused on making retirement investment easy for first-time investors.

AlphaPoint gave attendees a look at its “ADLP” or AlphaPoint Distributed Ledger Platform, a product that makes use of distributed ledger technology to better streamline post- and pre-trade workflows.

Malauzai took a crack at conversational banking with its demo on voice, which allows banks to provide another channel of experience for the customer.

Jiffee wants to make sure that NFC, not NFC-enabled question in payments is finally put to rest with its payments technology, which can enable any device to accept or receive payments…including an old gumball machine.

Jscrambler was yet another tackling fraud with its “integrity module,” a service protecting against fraudsters hitting FIs through website tampering.

Nvstr is looking to be the “Bloomberg” of investing for everyone, not simply qualified, experienced investors, through its platform (now in beta) powered by machine learning.

Bmp’online wants to reinvent the CRM experience, by using natural language processing and other technologies to streamline banking operations.

Fiserv showed off one of its many financial service products, this one primarily focused on security. It’s “Commercial CenterSM: Security” is an online security system protecting the cash management processes for FIs, making use of APIs and machine learning.

Zafin demoed its enterprise banking platform, which allows both global and regional banks to manage online billing, cash management, and data analytics for both their commercial and retail segments.

Sensibill gave attendees a look at its “+Insights” platform, which is focused on bridging the gap between bank data and customer insights by providing more detailed purchase data.

Averon is another demoing authentication solutions, this time using data from mobile carriers to turn the mobile phone into its own authenticator for customer identity.

Good Data is looking to provide users with a “platform-as-a-service” process, focused on insurance and FI companies. The product allows users to automatically view digital insights during their workflow, enabling more productivity.

North Capital showed off its “TransactCloud” product, a service utilizing cloud technology and APIs to provide a more tailored online transaction process.

Optimove demoed its “marketing hub,” which is designed to maximize the use of data analytics and machine learning for more effective, more truthful marketing across multiple channels.

Dynamics Inc. gave attendees a look at a few of its “payment cards,” which allow banks to launch both physical, online, or cross-channel payment methods.

RateSeer showed off its denoti product, which brings predictive analytics and AI technology to smaller FIs and independent investors.

AI Foundry demoed its “Agile Mortgages” product, applying machine learning technology to simplify the mortgage process with the help of the company’s virtual assistant.

Trusted Key also demoed data analytics for identity verification with its digital identity platform, which makes use of blockchain technology for authentication.

Asseco showed off its “Advisory Banking Platform,” a product that uses biometric, beacon, and mobile technologies to provide a more modern banking experience for customers.

Overbond debuted its “Corporate Bond Intelligence” tool, which was another to make use of big data and machine learning to provide more accurate predictions, this time for capital markets.

Relationship Planner wants to simplify the CRM experience for banks by allowing FIs to engage with better automation tools and analytics.

FI.Span is making use of APIs and other technologies to better enable communication between an FI and a customer’s corporate accounting system.

Socure was another that took on identity verification with a demo of its “Socure ID+” product, which uses document authentication and machine learning to verify that a government-issued ID is authentic.

While there were several strong demos during the day, as well as on Finovate Day One, the companies that received the Best in Show title are: Envestnet Yodlee, Finn.ai, Jiffee, Sensibill, SpyCloud, Sustainably, and Voleo.