Glenbrook’s Jacqueline Chilton is blogging from FinovateSpring 2011. This is one of several posts; you can find an index of our coverage here.
The format for Finovate is fast and furious. No PowerPoint – all demo. Each company has seven minutes. I am typing as I listen and going as fast as I can…
- Media executives who saw an opportunity to improve redemption of advertisements with better consumer experience
- Links a consumer’s card to an offer from a digital advertisement – banner, text, email, video or mobile ads. Can also link to physical world with mobile phone reading of the QR codes on the paper advertisement.
- Consumers can go shopping and use their card at point of sale and the advertisement offer is on the card
- Cover 99% of cards in the US through processor / aggregator relationships
- Provide additional marketing for the advertiser as the consumer receives an email to notify them the offer is on their card and then at the end to show them the money is in their account.
- User interface Clovrpatch keeps track of offers
- For the advertiser, they can target both merchant level and sku level offers
- Personal Financial Management tool using data to help consumers make financial decisions
- Their previously launched solution – Everybody’s money – allowed people to see how they are spending compared to other people
- Now releasing “Discover your City” which uses their consumer payment data to rank and evaluate local merchants
- Show spend and trends against specific merchants
- Using payments data and location to make recommendations
- Creating segments to find where foodies go or what thrifty consumers purchase.
- Management tool for collections departments that have to handle large amounts of data
- Targeting the problem that public records data searches produce too much unsorted information
- Their solution will validate the data, prioritize and create a Findex score to assess probability of finding the person
- Screens have both the bank’s account data, actions to be taken and a prioritized list of the public records data based on the Intellaegis score of utility
- Empower inexperienced collectors to become top performers
- Their Master Queue solution has a prioritization and assignment capability
- Uses mapping technology. Can take photos posted by the person on the web, used the meta tag from the phone to link a person to a location and correlate to other address information
- Collections managers can capture metrics on staff performance and collections vendor performance
- Visualize performance and provide real time dashboard feedback highlighting risk areas
- SaaS Accounting
- Cloud accounting software system with accounts receivable, accounts payable, invoicing and workflow from NZ
- Integrate company bank feeds
- Once all bank transactions are visible it makes for easy reconciliation with an easy queue to clear transactions
- Fast cash coding – worked on key strokes to make it quick
- Created a scheduling platform to allow payments to be planned
- Batch payment file to be linked to bank systems for payment
- Using address to support unique business identification especially for small businesses
- Using the cloud can support business identification for benefit of multiple players
- Sophisticated reporting capabilities
- Allow local accountants to create profiles and offer services
- Precious metal trading platform
- Physical gold is an over the counter market
- Today a purchaser must call 4 or 5 dealers then get transportation and storage. Only offered to the high end private banking clients.
- GBI acquires the precious metals on behalf of clients from LBMA approved dealers at the lowest prices in the market.
- The precious metals are stored in highly protected and insured vaults in New York, Salt Lake City, London and Zurich (as directed by the investor).
- Investors own the actual physical metal in an allocated private account or take physical delivery of their precious metal holdings.
- Presented last time their ability to provide working capital to businesses based on eBay seller experience
- Leverage data to quantify risk and get cash quickly – aka 5 minutes
- Big announcement is the addition of Amazon data.
- This time focused more on profile building – can now view both eBay history and Amazon. The tool links to the deposit account used with the Amazon account to view sales history
- This allows sellers to get cash advance to purchase more inventory.
- Rate management system (Ratecast) that allows centralized management of financial lending rates, disclosures and fees
- Have a library of marketing tools and calculators advertising the rates and conditions on the financial institution website or beyond
- E.g. Auto Loan Savings calculator on a facebook page updated as published rates are changed in Ratecast
- Can pull RateWatch comparative competitor data
