Finovate 2017 review part one: Five innovative product launches in mobile banking

By Alara Basul | 10 February 2017

Finovate Europe 2017 took place this week at the Old Billingsgate Market in London, showcasing innovative new products and bringing together industry experts from the fintech sector and senior financial, banking, and technology executives.

The conference was focused around two days of presentations, where fintech start-ups and established industry leaders were given a mere seven minutes to promote their company, and launch new products as well as demonstrate existing ones and explain to a packed auditorium how they were solving a critical issue currently plaguing financial services.

During breaks in the presentations, which were broken down into four 10-presentation slots per day, attendees, which included representatives from many of the major banks and financial services institutions of Europe, could network with fellow industry experts and presenters, each of whom had their own stand upon which to further elaborate on their product.

Bobsguide was present for both days of the show, and will be bringing you our takeaways from the event, including the industry trends that were most prevalent, our personal highlights in terms of the most innovative and market-altering products on display, and exclusive interviews from some of the key attendees at the event.

The first article in this series focuses on one topic that stood out to us. Biometrics and innovation in mobile banking platforms was repeatedly mentioned both in conversation and in presentations, and development in this area is an obvious trend that we are going to see in financial services in 2017.

Here are five of the best mobile banking innovation products we saw at Finovate:


Jumio launched a new feature for NetVerify, its biometric facial recognition technology, which delivers next generation digital ID verification and allows users and businesses to succeed in a digital world whilst reducing fraud and increasing revenue, meeting KYL and AML requirements all at the same time. As the high street bank continues to disappear due to high costs and lack of utility in a digital age, ensuring that customers can open bank accounts smoothly and securely through mobile apps will continue to be a critical issue.

NetVerify includes biometric facial recognition which provides companies with real-time digital ID verification by tying the digital ID to the real world and ensuring both that the ID is valid and that it matches the person holding it as well.


Finance monitoring app Moven has been successful in the U.S. already, but took the opportunity to launch in the UK at Finovate London. The app is built to help users improve their spending habits by showing them how they’re spending, while they’re spending.

Users can download the app and add their current banks account to track where their money is going. The app then carefully monitors the activity and tracks spending habits. These habits show users how much, and where, they have been spending that current month. This then gives users a better understanding of their finances and allows users to better control their spending, which is easier when they know exactly which habits are costing them the most.

While Moven works alongside banks, the app also acts as an intermediary between traditional financial institutions and millennials, who often avoid them.


Memento is the first mobile money wallet of the Icelandic bank Islandsbanki. The mobile money app is built around the consumer’s personal financial lives and habits, and is particularly aimed at those who have an interest in social media.

As well as tracking spending and savings potential, users can be set goals that are individually related to current spending habits and their personality type, and can also message and challenge friends to do the same in much the same way as a social media platform.

The app was created to build a platform to allow banks to understand the context and relevancy of reaching into these interactions by pushing personal data as it applies to social payments. Momento was created to bridge the gap between social media and banking apps by innovation in next generation group payments and offering banks information from social media channels.

Eyeprint ID

The fusion of payments and biometrics is going to be a notable trend that we see this year, and one that will crop up more than once in our Finnovate Europe 2017 review.  Eyeprint ID allows consumers to securely unlock their mobile banking app with the verification from their iris, potentially indicating a development from fingerprint ID whilst the latter is only still in its infancy as a tool.

In less than one second, with no additional hardware, customers can unlock their personal and mobile banking apps with their eyes, also known as ‘selfie’ authentication. The password free experiences means that fraud is extremely unlikely and passwords don’t have the chance to be forgotten, creating a swift and secure end to end user experience.

Eyeprint ID uses cameras to pattern match the visible vein patterns and unique micro features in and around the eye.

Vasco & eSignLive

Vasco launched its Smile & Sign mobile on-boarding at Finovate. The solution lets mobile banking consumers use biometrics, and more so ‘selfie’ recognition, in order to complete the consumer banking experience.

More than 100 global banks rely on VASCO solutions to protect their online, mobile and ATM channels. eSignLive allows consumers who use financial services to innovatively change their mobile experience using a combination of technologies, biometric authentication, visual cryptograms and e-signatures.

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