Finovate Spring 2012: Digital Financial Services Innovation
I attended Finovatethis week to get a preview of new financial services digital technology vendors. I say preview because if you have ever been to Finovate, you know it’s a little like speed dating, where 63 vendors have 7 minutes each to show you their best moves. The themes at Finovate this year were not much different as previous years with the focus being on mobile banking, personal financial management, and payments. However, this year, a few new topics emerged: rewards, coupons, and mobile banking services for Pre-Paid Visas customers. Apparently, Pre-Paid Visas are the new black.
While there was plenty of interesting and innovative demonstrations, Forrester attended the conference to identify trends and solutions relevant for our retail digital financial services clients. Specifically, we looked at innovative solutions for our clients related to mobile banking, personal financial management, and payments. The following vendors stood out as innovative solutions for mobile banking, personal financial management, and payments:
- DWOLLAis a next-generation social, mobile and online payment network. Its financial service product, FiSynch, integrates its technology into financial institutions.
- IP Commercesolves the development challenge of multi-payer acceptance and multi-payee disbursement
- iQuantifiprovides users with automated and personalized financial advice online
- Money Desktopoffers the next generation of personal financial management. Its slick design makes excellent use of the native app features.
- Tio MobilePayhelps underbanked and underserved customers save money and make last minute bill payments
Although a few of the vendors on my list were also best in show winners. I want to take a moment to congratulate all the best in show winners: BehaviorSec, BillGuard, DWOLLA, iQuantifi, MoneyDesktop, Personal Capital, and SoMoLend. And, thanks to Finovate for a great show.