Our 2014 finalists, 9 startups and 6 innovators, have been selected during the 3 regional showcases we held in May and June. They competed in the Grand Finale at Sibos in Boston, pitching their business ideas to an invitation-only audience of dozens of decision makers from the world’s largest financial institutions, entrepreneurs, investors and press.
Epiphyte won the title of “Top Startup” with its first product cBridge, providing banks with the technology for real-time international transactions at reduced costs. As “Top Startup” of the Challenge, Epiphyte has also won the 50,000 USD cash prize. MatchMove won the title of “Top Innovator” with its Wallet aimed at the 500+ million ‘uncarded’ smartphone users in emerging countries connecting daily to the internet but unable to make purchases.
The other finalists who participated to the event are listed below:
Early-stage companies (Startups)
Less than 3 years old and less than 1 million USD in combined revenue and investments in past 12 months.
|Foreign exchange companies bid for your business. You win. The size of the international payment market is 21 trillion USD a year, but most businesses lose out due to poor exchange rates, hidden fees and confusion. CurrencyTransfer.com is the worldís first multi-supplier aggregation platform, democratised for the masses. Our business model takes platform fees from rate contributors on the platform. HQ in London with offices in Tel Aviv, Israel. The founding team have over 10 years combined experience in foreign exchange, having previously helped customers trade close to 600 million USD in currency turnover.
|Richard H Harris has always believed technology can change the world. He is a natural entrepreneur with a proven track record of building and transforming game changing technology. Now his passion is firmly focused on mobile technology, and heís determined that if you have not seen Ensygniaís award winning technology yet, then you soon will. Matt Deacon brings over 20 yearsí experience in the IT industry delivering mission critical enterprise solutions on both Microsoft and Java platforms, including 6 years as Chief Architectural Advisor for Emerging Technology at Microsoft UK.
|All the currency, asset and derivative holdings of the world are isolated on the internal ledgers held by banks and financial institutions. Crypto-financial protocols will allow all these instruments to be issued on a connected network. Epiphyte is deploying enterprise software that allows the pre-installed systems of financial institutions to ‘talk’ to crypto-financial networks. Banks, for example, will be able to integrate with cryptocurrencies over traditional protocols like SWIFT. Epiphyte’s first product provides banks with a low risk way to provide services to their customers. We will be rolling out a pilot implementation of this product with marquee clients over the coming few months
|LendingRobot automates loan selection and investment in Peer Lending. With sophisticated yet simple-to-use analytics tools, LendingRobot allows investors to optimise their strategies and define rules to systematically execute them. Automation also helps save time and increase returns by continuously reinvesting idle cash. LendingRobot selects and submits orders in less than one second after new loans appear, allowing individual investors to compete with hedge funds and institutions for the most sought-after opportunities.
|Borrow, collect, prepay, split money within one app! Lendstar is a social financial network – easy, fast and safe. It will provide real time money transfer via a mobile wallet and a prepaid credit card. Lendstar offers its users to integrate the entire value chain of source, share and spend money – everything in real time. On top of this the app provides detailed documentation but also a great overview of all financial transactions. It allows a simple interaction and communication of our users – they can post comments, upload photos, discuss – whatever they want. Lendstar brings life into banking.
|Sixscape provides the kind of innovation (End2End Connectivity, Peer TLS and PKI) for the IPv6 Internet that Netscape did for the IPv4 Internet (web and SSL). Our CTO created the PKI and crypto training for VeriSign, and spent ten years doing R&D in IPv6 (successor to IPv4). He is creating the products and infrastructure required for a new generation of trusted messaging products for IPv6. The first application of this technology (IRPS) is to make it simple and inexpensive to replace insecure username/password authentication with X.509 client certificate based authentication, even over IPv4.
|Standard Treasury helps banks harness the power of developers and developer ecosystems by building, maintaining, and supporting white-labeled and co-branded developer platforms for banks worldwide. Standard Treasury partner banks see material top-line growth through decreased costs to service their customers, decreased churn, and increased transaction volumes, while delivering tremendous value to their customers.
|Outdated technology and administration in financial services have lead to layers of fees, which erode investment returns. Over 45% of returns were paid away in fees between 2008-2013. A generation of younger investors can no longer afford access to investment advice due to cost. Stockspot is changing that for the better. Stockspot uses algorithms to streamline the provision of personalised investment advice, portfolio transactions and reporting ñ entirely online. The result is more affordable service, more engaging user experience and improved investment performance for all types of investor.
|TransferGo enables faster, cheaper and more convenient international money transfers than banks, Western Union, MoneyGram and other new players. Our mission is to make international money transfer digital, safe, convenient, ultra-low cost and, most of all, ensure the process is wholly transparent to the customer. No hidden fees, guaranteed destination amounts and great customer service. We have our own infrastructure and direct relationships with banks in different countries, which allows us to collect and distribute payments 10x cheaper than banks and still guarantee next business day delivery.
Growth-stage companies (Innovators)
Over than 3 years old or more than 1 million USD in combined revenue and investments in past 12 months.
|AMP enables banks to profitably offer unsecured loans to underserved small businesses based upon their electronically verifiable cash flow and other data points – in both developed and emerging markets. To support the development of this solution (in terms of both proving the market and funding the creation of an innovative loan origination and portfolio management platform), AMP has itself issued US$30mm in loans to small businesses across three countries, currencies and banking systems – enjoying a high rate of return and low rate of default.
|Fastacash™ provides a global platform which allows users to transfer value (money, airtime, coupons, other tokens of value, etc.) along with digital content (photos, videos, audio, messages, etc.) through social networks and messaging platforms. The company has developed a patent pending link generation technology that enables the value transfer with a secure link.As a technology enabler, fastacash™ partners with companies and brands in the payments, remittance, consumer products, social and gaming industries to bring its technology to end-users.
|Around the world in emerging markets, hundreds of millions of new customers are opening up bank accounts for the first time. But typically 60-90% of these accounts fall dormant within the first months of use, costing providers the majority of their revenue potential. Juntosís automated messaging platform turns any phone in the world into a financial coach that changes financial behavior and drives account engagement among newly-banked clients. In our first deployment with 40,000 clients in Colombia, the bank saw a 32% increase in their active client rate and 50% lift in average balances.
|Mambu enables any financial institution to deliver state-of-the-art banking through its software-as-a-service cloud solution. Agile, flexible and open, Mambu eliminates the complexities typically associated with core banking software, at a fraction of the cost. Our clients range from small microfinance organisations to large retail banks and other financial innovators that are seeking to address the financial needs of the worldís 3 billion individuals and 250 million micro, small and medium enterprises in need of basic banking services.
|MatchMove helps online businesses engage and monetise their users through the strategic use of our cloud-based entertainment and payment platform. Full-featured gamification,social networking, e-commerce options on web, mobile and IPTV. We are the exclusive entertainment and payment platform provider for many globally recognised online brands, mobile operators, media and entertainment companies that together have more than 250 million users.
Wallaby is changing the way people pay and the way financial institutions market. Our intelligent card recommendation system enables a dynamic real-time bidding platform for banks to acquire transactional spend for consumers through micro targeting. Today we enable this through our mobile and web applications; tomorrow via the Wallaby Card–a universal payments card for all of your credit cards. Wallaby can help the average consumer save more than $600 per year. We are bringing adtech to payments.