The New York leg of the competition took place on 5 June, at the Convene Meeting Centre 730 Third Avenue.
The event was a full-day event hosted by Innotribe. The morning session focused on technology and innovation across the financial services industry, with a preview of the Financial Crime Compliance and Investment Managers Forums to be held in Sibos later this year. We explored innovative ways to address the challenges of banking operations, compliance teams and investment management firms, and debated ways to increase the effectiveness of business processes.
The afternoon was dedicated to the Innotribe Startup Challenge, showcasing the fast-paced pitches of our final 16 semi-finalists, and giving the opportunity to our audience to learn about their innovative ideas and products.
To read the press release announcing the 5 finalists selected during the showcase, click here.
Less than 3 years old and less than 1 million USD in combined revenue and investments in past 12 months.
|The Beyonic mission is to make mobile money matter. Our vision is to become the leading aggregator of mobile money networks and financial data across emerging markets. Leveraging the deep expertise of the management team, we will achieve this by building enterprise-level platforms for business in emerging markets to utilise mobile money networks.
|Bison is built on public data. PE/VC firms are regulated entities that have publicly available information scattered across government filings and media reports. Bison acquires over 50,000 regulatory filings and news publications a month. We parse and organise this data on a continual basis and turn it into actionable information for our users. We believe a great dataset starts with trust and that trust stems from transparency. We are committed to presenting information on our platform together with a referenced source. Bison information is customised, transparent and delivered to our users.
|CUneXus helps credit unions and banks drive substantial loan volume, by providing customers a refreshingly simple on-demand borrowing experience across traditional, online, and mobile banking channels. Customers can easily access loans anytime, anywhere ñ with no loan application. Lenders enjoy increased product penetration, loan volume, and ROI. These pioneering technologies are at the forefront of the transition to a new era of data-driven, on-demand lending and borrowing.
|DRA is building an open platform to better match the natural shopper path to purchase, removing friction; enabling commerce anywhere. We provide an integrated shopping and payment flow to remove checkout lines and speed flow through the store. We are agnostic to payment method, carrier, device, and POS giving merchants direct and contextual access to shoppers in their moment of purchase. Our business model is SaaS, charging a flat monthly fee. IP is patent pending with global application. An accomplished and lean team, we have a product in the market and channel partnerships in place.
|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.
|Nerture is bringing together merchants level 3 (SKU) data, financial institutions account holder data, and online (search, e-commerce, etc.) data to build a 360 shopper profile of every credit/debit cardholder. From the single shopper profile, merchants and financial institutions are able to gain insights into their customers and personalise the experience.
|SnapSwap Inc. operates global network of Ripple gateways, services that allow to move and exchange money on the Internet using Ripple Protocol (RTXP). SnapSwap is backed by prominent angel investors that provided early stage funding and advise to Twitter, Square and other successful startups. Ripple is the payment network, that supports any currency, including itsí own (XRP). Merchants can process payments globally, without fees or license, and cross-currency exchange happens without intermediaries. Ripple technology is delivered by Ripple Labs, Inc.
|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.
|TrustingSocial offers real-time credit scoring based on social data. We make it simple and affordable for any business to reduce fraud and credit risk, and to improve sales decisions. Our patent-pending scoring algorithm learns from vast social datasets to predict short and long-term income and creditworthiness. It complements the FICO score, which is based on a customerís credit history. By leveraging social network data, our scoring system is applicable to billions users worldwide. Our team is comprised of Ph.D. data scientists, banking experts and award-winning programmers. Our advisors include banking leaders and world-class scientists.
Over than 3 years old or more than 1 million USD in combined revenue and investments in past 12 months.
|Intoo, created in the beginning of 2013, is a startup in the forefront of transforming the Brazilian economy. For SMEs, Intoo makes possible that they could get credit proposals from multiple banks and Credit Investment Funds in an easily, timely and cheaply way. For Banks, Intoo is a business intelligence tool that helps to acquire new customers and, doing so, decreases the acquisition and transaction costs in discovering and screening proccess.
|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.
|The solutions for buying Bitcoins which are currently available in the US market and abroad are complex (e.g. trading platforms) and take up to 5 days to complete. We project 144,000 million USD in transaction volume for the Bitcoin exchanges by year 2019. NovetlyLab plans to generate 1,000 million USD in revenue from its digital currencies exchange. We are in advanced stages of negotiations with MSBís holding money transfer licenses and banking partners. Our team is comprised of finance and banking veterans (Western Union/First Data) and cryptocurrency experts, experienced software developers.
|PayByGroup is powering the social era of commerce. With PayByGroup, people can rent and buy things together directly on merchant sites for the first time ever. Whether itís friends renting a yacht for a birthday, siblings buying a gift for a parent, or an extended family renting a beach house, PayByGroup brings people together around the things that matter to them while increasing sales for merchants across a variety of industries.
|Socure uses proprietary online and social checks to help businesses figure out if their new customers are who they say they are. Socureís Social Biometrics(tm) solution is used at account origination (when new customers register and institutions perform KYC checks) to reduce fraud losses and overhead costs as well as to increase revenues and reduce customer friction. Socureís additive solution is shown to boost performance of existing fraud management systems by 40% – 70%.
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.