Finovate Spring 2010 Roundup

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13 May 2010
Jacob Jegher
On Tuesday, Red Gillen and I attended Finovate in San Francisco. The conference brings together a slew of fintech startups as well as a handful of established players. Thirty six companies showcase their wares in 7 minute demos. Sounds like a short time frame, but if done properly, is more than enough time for a firm to pitch their product. The event was well attended and I was very pleased to see quite a number of financial institutions in attendance. I attended last year as well, and was disappointed by the number of banks present. Perhaps travel budgets are better, and/or maybe banks are attempting to increase their emphasis on innovation. The majority of the 36 demos were lackluster but there were a few standouts. I plan to profile my top 10 in an upcoming Celent report. The report will single out the innovative startups that Celent believes will have an impact on the banking space and/or the consumer market (many of these startups bypass the bank channel and market their products directly to consumers). Here are some of my selection criteria:
  • Realistic business model (I was surprised at how few of these firms actually had a business model)
  • Innovation and new product development
  • Potential for the solution to be sold by banks
  • Potential for the solution to fill a void in the market
The audience did have their favorites, and were asked to pick their top 4. The best in show awards went to (in alphabetical order) Bobber Interactive, Expensify, oFlows, and Wikinvest. On a related note, I enjoyed the live tweeting at Finovate. It was great to hear what the folks around me were thinking as the presentations were taking place. Click here to check out the Finovate Twitter feed.

Insight details

Sector
Content Type
Blogs
Location
Asia-Pacific, EMEA, LATAM, North America