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.

doxo

• What it is: a consumer focused bill receipt, organization, and payment system.  Biller pays to reduce paper delivery.
• Presenting the biller dashboard and API capabilities
• Makes it easy for business to control identity on Doxo network
• Uses a Facebook-like ease of connecting to customers

Arroweye Solutions

• Customized card fulfillment
• Their card printing presses enable photo cards to be created – a card of one or for a small affinity group – like a high school
• Fulfillment center is in Henderson Nevada
• Brand logo on demand while personalizing the cards
• Also use digital barcodes to make sure a personalized carrier ends up with the consumer card as it is delivered to the consumer
• Supporting banks in targeting affinity markets

Billeo

• A tool bar for consumers to provide offers during online shopping
• Launching an IPAD App for a more engaging shopping experience
• Engage with card members while shopping – plan to launch with 2 of top 5 card issuers summer of 2011
• Shopping often starts with a search – Shop Smart app is a browser with an offers bar at the bottom
• Shopping with a user’s loyalty and reward programs, Facebook friends, daily deals, as well as password and eWallet management
• 3x the conversion rates of other shopping engines

ProfitStars

• Jack Henry and Associates Company
• Margin Maximizer Interactive – supporting community financial institutions  in improving credit profitability
• Supports lender in answering loan and profitability questions
• Management of profitability at a portfolio level and line level assistance in pricing credit
• Powerful tools in a hosted environment to reduce cost and create ease of implementation

BillFloat

• Launched at Finovate 4 as a small dollar lender giving consumers more time to pay their bills with 30 day loans
• Launching Less is More application
• Many consumers ask for more credit then they can affort.
• Propose they pay some cash now and shrink the loan to something they can afford.

Wikinvest (SigFig)

• A portfolio tracker that synchs with brokerage accounts and provides an advice engine for investments
• “A second set of eyes on your portfolio”
• Advisor comparison, fund comparisons, fee comparisons
• Provide a user advice on which brokerage account to use to save money based on experience in paying brokerage fees
• Also provide a timeline of when fees will get charged so can make a trade prior to fee deadlines
• Community financial management tools applied to investments

peerTransfer

• International student payment solution
• Traditional wire payments are expensive, poor exchange rates and can get delayed in transit
• Simplify the process for schools including fraud and follow-up
• PeerTransfer signs up a US school, provides the students with better exchange rates and tracks payments internationally

Bill.com

• Organize payments for small businesses
• Small to mid size businesses still use checks
• Consumer products are transaction oriented and do not support the documentation, work flow and reconciliation requirements of business payments
• Cloud based service to stream line bill, invoice and payment processes
• Relieve businesses from paper.  Synchronize with accounting system.
• Allows for workflow for authorizations.  Mobile app allows for approvals on the move.
• Schedule payments to manage cash flow

Mint.com – Intuit

• Personal financial management going mobile
• Becoming an increasingly mobile experience to help consumers save with the right offers
• Mint has ~1M iphone and ~800k Android users
• Over 50% of Mint.com users have a smartphone linked to account
• 20-25% of Mint users register from their device and mobile is their dominant device
• Traditionally leads were driven from the website – now moving to the phone
• Serving advice via the mobile device
• Performance based advertising for the mobile device.
  • Example: Monitor what percent of total credit is being used, when meet a threshold that can affect the consumers credit score then provide an alert and links to a credit score monitoring service application form

[BONUS! I listened to an extra presentations from Adobe this morning – JC]

Adobe – Customized Customer Experience

• Known for Adobe software but also sell $1.2 B in enterprise infrastructure with a major focus on financial services
• Consumer perceptions of financial services has changed
• Banks are not providing high levels of customer experience to create loyalty
• Consumer is mobile and social and looking for trust across multi-channel touch points.  Adobe offers a customer experience management platform across product silos and back office systems.
• Change the world through digital experience
  • Personalized experience
  • Customized content
  • Dynamic pdf linked to knowledge of consumer from Facebook or other data on the individual or their accounts
  • Reduce online abandonment