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.
- On the go – bank alerts combined with personal financial management context and advice
- Customer sets personal goals
- Allows a user to provide information that they would like to refinance their mortgages
- Matches the person against mortgage products and at the right time allows them to take an action – like scheduling an appointment with a mortgage
- Bank can allow offers from affiliates
- Identify if customer 401k is out of whack with averages and then provide alerts that 401k is not balanced and then link to research or offers from the bank
- (Challenges with connectivity for the demo – will check out their booth tomorrow)
- Online receipts instead of paper
- Level 3 card data aggregated across retailers
- Filter, sort and search receipt data, add notes and categorized
- Import or scan receipts to add to the list
- Can create a gift receipt or share with an accountant
- Also enabled for targeted offers
- Consumer privacy and PCI taken into account
- Easy to integrate across a variety of POS systems
- Personal financial management mobile platform as an extension of their online service
- Connect bank products to consumers through interactive API
- Can scan barcodes for example for a camera and receive feedback that it is going to blow the budget for entertainment and then ask friends /family to chip-in. Once reach the savings goal, then receive an alert that they can now afford to purchase the camera. Get a map to the best store location.
- Kiboo debit cards at point of sale or implement a POS device at each merchant for NFC mobile payment
- Requires direct relationship with merchants
- All-in-One: Merchant Account, Gateway & Recurring Billing
- Eliminate the processing & storage of credit card data
- Reduce PCI compliance scope up to 90%
- Provide advice to manage payment costs and provide simpler payment fees
- Demonstrated the Living Social implementation of Braintree
- Allowed asynchronous encrypted card transactions in order to enable third party payments at scale – taking it out of the purchase stream so customers had a positive experience.
- Personal financial management tool
- Completion meters encourage people to add data and fill goals
- Needs versus wants tabs
- Multicurrency and language capabilities
- Live data and third party information to make the data more robust
- Launching an iPad version to enable money management on the tablet
- 25 cents per transaction to send or receive money online
- Send money through email, phone numbers and social networks
- Location capability to use a map of the merchants near the user
- Linking to financial institutions and providing a dashboard to the FI to understand activity by their customers – heat maps and geospatial analysis
- Helps banks understand social media used by their account holders and types of phones their customers use for Dwolla that might extend to their mobile banking strategy
- Can be used for payment if the merchant is enrolled
- “Bank plus Coupon with geo-location”
- Platform for merchant funded offers through geo-location
- Intelligence to the customer purchase history to make them location aware
- Offers sorted by distance white labeled by a bank
- Integrate the experience through an API to bank’s current mobile banking app
- While the customer uses the mobile banking app the bank can offer them merchant funded location relevant deals
