Today is the first day of Finovate Europe 2017, a two-day conference and networking event taking place in London that will showcase many of the most exciting new products and start-ups in the fintech market to senior financial, banking, and technology executives, media, analysts and fintech influencers.
Over 70 fintech providers will be on hand to present a seven minute demonstration of their new and innovative products – Finovate’s conference USP is that all presenters are only given a fraction of the time length of a traditional conference presentation slot to present and pitch their product to a room of financial services buyers.
Bobsguide will be reporting from Finovate Europe for the next two days, and will reveal our highlights from the show as well as a number of exclusive interviews with industry suppliers and financial services executives. As we kick off the show, however, we know that there are a number of announcements and product launches that are expected over the next two days.
Vasco is expected to demo a new mobile banking solution eSignLive that it claims, for the first time, combines esignatures with biometrics and fraud analysis (as well as providing compliance tech for eIDAS regulations). The goal is to allow banks to better serve millennials' need for mobile/banking convenience (through facial recognition ‘selfie’ biometrics technology) while supporting the bank's need for identity verification and fraud prevention.
nanoPay will be demoing a sneak peek into its new services in cross-border and B2B payments. The fintech company with a unique payment platform will be showcasing two new services on stage. This demo will be the first of its cross-border payment networks and new B2B payments solution, both which enable banks, payment service providers and businesses to securely store and transfer digital value between parties instantly and without intermediaries.
nanoPay is looking to change the pace of interbank cross-border payments that are slow, expensive, non-transparent, highly manual, dependent on multiple intermediaries, and a poor customer experience. This means a future of instantaneous fund transfers including settlement, without intermediaries, with higher straight through processing, full transparency and cost reduction. On the B2B side, businesses simply need to be able to make secure and trusted payments between parties who are unfamiliar with each other.
Caxton FX will be demoing its new blockchain overlay that will make it cheaper, faster and more secure for businesses to send money. The system purports to be a practical application of groundbreaking blockchain tech – one doesn’t require widespread uptake of Bitcoin or a mega deal among the major banks.
Market EarlyBird is perhaps one of the most unique fintech products that will be showcased at Finovate Europe, and much like Vasco’s ‘selfie’ biometrics, appears to be aimed squarely at millennials as social media is central to the product.
Banks currently face a huge dilemma with Twitter – traders need it now more than ever but the challenges, and the risks of abuse, can be huge. If these are not addressed by the industry, unprotected Twitter access, with its secret person to person channels, could provide the platform for the next banking scandal (think LIBOR fixing).
EarlyBird brings banking-compliant Twitter to trading and research floors. It enables finance professionals to safely access important market-moving financial news and Tweets where they need it most, and also brings artificial intelligence into play to help them identify the most relevant Tweets.
The service is already being used in a number of hedge funds and global banks, and it is now common knowledge that banks and traders are now beginning to use Twitter monitoring tools to keep up with Donald Trump’s fired from the hip Tweets.
Meniga has promised significant product news that will help consumers change their attitude to their money and how to manage it.
Meniga is a financial technology software company and global leader in digital banking solutions. It works with the world’s largest banks, such as Santander, ING, Commerzbank, Intesa and mBank, to help them make sense of their data and provides them with solutions to help their customers lead better financial lives.
With dozens of other exciting innovations set to be launched this week, Finovate Europe is one of the most exciting weeks for the London fintech community.
In preparation for this week’s event, we’ve been asking many of the exhibitors at this year’s event to share their thoughts on some of the most pressing issues in the disruptive fintech community. Click here to read the bobsguide debates: Who needs the other more, fintechs or traditional financial services? and Will 2017 be a breakthrough year in establishing better working relationships between traditional financial services and fintech companies?