Last week, we presented at FinovateFall 2016 in New York City. If you like a place where finance meets innovation, then this is the place for you. Digital interfaces for personal finance, banking, and payments are all the future of our modern economy. We’re forecasting that e-gift cards will play a major role in attracting new technology users and mobilizing payments. This conference was a perfect place to test this theory with the mix of technology companies, potential global corporate customers, and solid growth stage investors.
The best part? Presentations were not allowed, only 7-minute live demos of Fintech. This kept sessions interesting as well as engaging and made for more impactful networking time.
If there is any doubt that there is real and sustained innovation in banking and finance, FinovateFall puts that to rest. A few themes from the conference:
Identity verification and authentication solutions:
Companies including Daon, Uniken, Trulioo and others showcased some really cool biometric or data-driven ways to authenticate individual users. We watched as they verified their identities on stage by using their faces, voices, fingers, as well as strong data driven authentication using a range of public data sources and risk-based algorithms. These companies are doing some amazing stuff and are going to make it much more difficult to fake who you are.
Disruption of money management (put down the series 7 study guide!):
Improving investing and portfolio management is nothing new. Betterment and others have been doing this for a while. But a handful of companies at FinovateFall including M1 Finance, RightCapital, Sindeo and several others demonstrated that managing your portfolio has become easy, fun, and far more cost effective than ever before. Whether you are funding an account via smartphone, picking stocks, or balancing your portfolio, these companies are paving new roads in Fintech.
Moving money is becoming easier and faster:
Companies like Currency Cloud, Dynamics, Inc., ProActive, nanoPay, and Swych are all creating ways to move money quickly, remove friction from checkout carts and processes, ensure you can send money from one country to another, and remove complexity and improve the user experience.
Check out David’s demo at FinovateFall:
At Tango Card, we attend trade shows in many markets and are often the only digital rewards provider. FinovateFall was a similar situation for us. Perhaps the most inspiring thing was how many of these Fintech companies incorporate a reward, incentive, referral, or loyalty program as part of their core offering and customer acquisition and retention programs. We left with a feeling that we have a solid position in the Fintech marketplace as a value added service to modern personal finance and payments platforms. One more proof point that e-gift cards will play a major role in driving enterprise businesses forward as incentives, rewards, and payment vehicles. Thank you, FinovateFall!
Looking for more Fintech events? Chek Lim, Tango Card’s CTO, will be at FinDEVr in October where he will be demoing our RaaS API 2.0.
Post by David Leeds, Founder and CEO of Tango Card
David has great experience starting, scaling, and managing large enterprise businesses.He was cofounder and Senior Vice President of Strategy, Sales and Marketing at FiberTower. He has a MBA from Stanford and an undergraduate degree from University of Vermont. He generally leaves his baja hoodie at home.