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FINOVATE EUROPE 2017 REVIEW FinTechs go speed dating
Alex Hamilton and Clare Ruel bring you the highlights from another action packed FinovateEurope, the show where FinTechs pitch and industry bigwigs vote in or out
During February, IBS Journal once again immersed itself in the wild world of seven-minute pitches and cringe-inducing gimmicks that is FinovateEurope. FinTechs gathered at London’s Old Billingsgate Market to showcase their services, solutions and systems. Here are our standout companies from the two-day event.
BankGuard
Singapore-based BankGuard has a remarkably low-fi solution to protecting banking customers from fraud and cybercriminals. Its SuperMatrix countermeasure utilises a random chart of images on a grid, acting like a form of super-captcha.
Users, when logging into their banking portal, are asked what image is located in a specific grid number. The bank can set as many of these questions as it likes, and can also choose the size of the grid it wants. The technology is already being implemented at more than 270 Japanese credit unions. The startup has featured in a number of contests in Asia, including FinovateAsia and FinDEVr Silicon Valley.
eToro
Tel-Aviv and London-based eToro allows users to trade currencies, commodities, indices and CFD stocks online. Founded in 2007, it has more than five million registered members from 140 countries and sees “thousands” of new accounts opened each day, according to CEO and Co-Founder Yoni Assia.
A veteran of the show, eToro has won it in the past and triumphed again this year. It demoed its new CopyFunds platform, which enables users to create their own
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bespoke investments. The update adds to a service that already featured CFDs trading on a range of specially- created and themed funds such as technology, banking and gaming.
Worldline
Worldline’s presentation certainly made people sit up and take notice on what had been a subdued start to the second day. The payments provider displayed its new Connected Piggy Bank product – an interactive piggy bank with its own app.
A lack of cash in the future, it argued, might reflect negatively on children’s ability to visually imagine saving money. The piggy bank gives them that help, as well as colourful lighting and a “friendly” voice and sound effects. The interaction between the bank, the phone application and connected widgets like Facebook Messenger was almost as impressive as the father and son roleplay occurring on stage.
Infosys
Last year Infosys carried the baton for core banking providers. This time it was back with a brand new showcase on blockchain. It has been busy, said Peter Loop, Senior Principal Technology Architect at Infosys, investigating the potential of the technology. Its EdgeVerve Blockchain Framework, a permissioned ledger, has been designed to enable banks to quickly deploy blockchain-based solutions to as many business areas as necessary.
Both Emirates NBD and ICICI Bank are piloting the technology, routing business transactions between
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