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Live Blogging Finovate Fall: Day One (Sept 8)

Sep 8, 2016 9:10:02 AM


It's Finovate Fall's 10th anniversary and MX is proud to cover the festivities from New York. Throughout the event we'll be profiling fascinating fintech companies and their technology advances. 

(11:02 am) 

Overbond touts itself as the future of bond origination. The firm simplifies all stages of bond origination through better relationship management, digital price discovery and “robust deal execution workflow.” As of today, the company is launching its price discovery module. Issuers can draw on thousands of verified investors in a digital environment rather than relying on a small number only reachable by phone.  

(11:05 am)

Trulioo has integrated over 200 unique data sources for the purposes of identity verification. Trulioo verifies over 4 billion people across 50 countries. The company is reaching out to companies with global expansion plans. 

(11:11 am)

Backbase demonstrated how smart scanning technology can take data from physical documents — e.g. driver's licenses — and pair it with biometric data (a selfie) to verify identity. Backbase conducted a live countdown proving that it could run a user through this process in less than 60 seconds. 

(11:16 am)

Tokbox addressed the human element of digital customer engagements, specifically how it enabes developers to embed video & voice. The company securely encrypts recordings and stores them for clients. Tokbox believes that real-time communication with customers is crucial in building a great digital experience. 

(11:24 am)

While highlighting its superior capabilities in aggregation, transaction cleansing, categorization and classification, MX demonstrated how financial institutions could tap into the $200 billion interchange market. PowerSwitch is a new offering that allows financial institutions to switch recurring payments — e.g. Amazon Prime — from a competitor's credit card to their own, making it top of wallet for the user. "This changes everything when it comes to the merchant card on file and the default payment for millions and millions of users," said Caldwell. "MX is there to make sure you're on the right side of that wave." 

(11:40 am)

Personetics discussed its personalized guidance platform that is helping banks develop insights and provide contextual advice to customers. The company takes analytics and places them on top of conversations. Its new MoneyCube chatbot, "Cube" for short, asks the user if they're thinking about retirement, brings alarming spending to their attention (e.g. dining out) and seeks to develop a conversation around one's finances. When a consumer is considering a new big ticket purchase, the chatbot provides advice on how long the user will have to save. 

 (11:55 am)

MintChip showed how its technology can pay multiple parties simultaneously in real-time, offering the example of a restaurant, server and state tax authority splitting a payment. 



Jeff Meredith

Written by Jeff Meredith

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