Day two of FinovateFall 2011 wrapped up yesterday at Pier 92 in Manhattan with more than 30 companies presenting 7-minute demos of new or updated products. In total, 63 companies presented at the two-day conference, which drew more than 900 attendees.
Congratulations are in order for the six companies that won the "best in show" award: BillGuard, Dynamics, eToro, FamZoo, FeeFighters, LearnVest, Offermatic, oFlows and Personal Capital.
Below are some of the highlights of the second day presentations.
- T8 Webware (Cedar Falls, Iowa) introduced Grip, an app for smartphones and tablets that is designed to enable financial institutions to provide quick information to the consumer on the go, addressing their top mobile needs. Grip does not rely on core integration, and is targeted to small and mid-size banks who may be seeking a more robust mobile offering.
- Crealogix (Zurich, Switzerland) introduced CLX.SentinelDisplay, an out-of-band transaction authorization service designed to bring additional security to e-banking by through display-based confirmation while ensuring information confidentiality and thwarting the impact of malware.
- ACI Worldwide (Elkhorn, Neb.) and MShift (Fremont, Calif.) jointly presented their Mobile Enterprise Banker solution for tablets. The solution is designed for business executives who want robust and graphically rich presentations of company data as well operational tasks like ACH, wire release and bill payment.
- Mitek (San Diego) demo'd its Mobile Balance Transfer solution, which allows a bank's customer to use a smartphone camera to take a picture of a competitor's credit card payment coupon and then transmit the information to the bank, which then can offer the customer a better interest rate.
- Truaxis (Redwood City, Calif.) presented Purchase Insights, an offering that provides detailed transaction summaries using merchant, category and location data to give users insight into their spending and how it compares with their preferred social groups.
- Cartera (Lexington, Mass.) demonstrated Local Offers, a solution that enables banks to tap the growth of the daily deals market by marketing local, card-linked offers to their customers to increase engagement.
- MiiCard (Edinburgh, U.K.) introduced its new product in the electronic identity and verification market, an online version of a driver's license or passport. While other identity providers and credit reference agencies validate information about someone, miiCard is designed to validate that a customer is who they say they are.
- ActivePath (New York) and Cardlytics (Atlanta) did a joint demo of their eStatement delivery of merchant-funded targeted rewards that offers bank customers the ability to view targeted rewards in their e-banking statements, with offers embedded into relevant transactions.
- BankSimple (Portland, Ore.) publicly demonstrated its product for the first time, an online banking service that in the company's own words "doesn't suck."
- SaveUp (San Francisco) didn't present because it has not yet gone public, but the company was at the show offering a sneak peek at its product, an online game/program that rewards consumers for making positive financial decisions that increase assets -- different from traditional rewards models that encourage spending. SaveUp, which will be launching in seven to eight weeks, is a free, open platform that can be customized for banks for a fee.