FinovateFall 2010: Day 1 / Session 3

Bryan Derman

October 4, 2010

Glenbrook’s Bryan Derman is live blogging from FinovateFall 2010. This is one of several posts; you can find an index to his coverage here.


Betterment:

  • Dashboard for investment geared to simple review of portfolio value, overall return and asset allocation
  • Money is automatically invested in simple set of ETFs (Exchange Traded Funds) based on the desired allocation
  • Bettermint provides tools to guide the asset allocation and ensures that the investor reallocates to maintain the desired mix.  Also shows how other people are setting their allocations
  • Claim that most investment return is based on proper allocation

H&R Block:

  • Interesting — another service built on the Yodlee technology
  • Tax estimator and full Tax Center system are accessible from the bank website
  • Can also submit questions to tax experts
  • Using Yodlee to pull together relevant tax information — essentially delivers a bank co-branded version of H&R Block’s online tax software
  • Tax Center will also default the consumer to a direct deposit of his refund into his account at the partner bank
  • Readily available to banks using Yodlee

SecureKey:

  • Secure way to transact at any website with no merchant changes
  • The SecureKey is a USB dongle that “reads” a contactless card and fills out the checkout forms; in effect, the SecureKey acts as a card terminal
  • Business case for the issuer is to reduce the volume being lost to alternative payments like PayPal, Google Checkout, and Amazon Payments
  • Card data is sent to the issuer for validation
  • Also very useful for creating a more secure log-in to online banking sites
  • SecureKey is currently under $5, and lower with volume; will also read NFC phones
  • Will be piloting with several US and Canadian issuers shortly and have partnership deals with several networks

Backbase:

  • A rich presentation layer that sits atop standard banking applications.  Examples:
  • Augment online banking site with relevant articles and information sources
  • Create a branch-like experience by adding a live consultation via screen sharing, assisted form filling, etc.
  • Small business banking site can be customized and made more interactive; proactively push relevant advice and ideas to the customer

HiddenLevers:

  • A Bloomberg for the rest of us — simple to access economic indicators
  • Macroeconomic data made easy, along with stock screeners using fundamental and technical analysis
  • Scenario analysis tool for modeling the economic and stock market impact of possible “black swan” events (e.g., subprime crisis, PIIGS all default)
  • Gotta love it — start your own multi-billion dollar hedge fund using one simple website with an easy to navigate “children’s book” interface

Kony Solutions:

  • A way to develop apps in the fragmented mobile marketplace (new form factors, OSs, other software)
  • Goal is to write it once, and run it everywhere — also change once, change everywhere
  • One code base feeds multiple channels — desktop, tablet, various mobile phones, etc.
  • Native, dedicated applications for each platform — all desktop browsers, iPhone, iPad, Android, Blackberry, other tablets
  • Wow, I haven’t heard anyone use the term “future-proof” in a long time

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