Finovate: RiskKey

COMPLIANCE SUCKS!

According to the presenter and the audience interaction.

RiskKey - how to simplify compliance. Templates for different compliance projects, such as a risk assessment project for Bank Secrecy Act. Pick up templates from the available templates and kick off a project. How do I setup a project and track its progress?

How do i do a risk assessment? Drag the risk sliders. Easy - done!

The auditors get access and can add notes. The items they pick up are highlighted to managers to ensure stuff is not missed when the examiners come in.

NEW - enterprise dashboard for compliance and how do I match up against my different categories of risk. How does my risk index (RDex) match across the categories that I had planned/ Now compare yourself against the rest of the industry.

1 Easy

2 Removing confusion

3 Make compliance 'not suck'

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Finovate: WorkLight

The challenges of mobiles: the lockin of having to develop apps for every mobile is complex. How do you keep costs under control with the Android, iPhone, iPad, Blackberry etc.

These guys can help you develop a secure app once and distribute it across many types of devices. Not really sure how that is going to get past the Apple new licensing terms for iPhone and iPad which limits development tools that don't run Objective C.

Unfortunately you don't have the nice Apple look to iPhone apps, despite what the presenter is claiming.

Blackberry is not there yet.

I like being able to break the boundaries of different devices, though I'm not sure if they can do it.

Here we are going, with another downloadable mobile banking app for your PC. We need these (I talked about this lots) though I'm not sure yet if we are really ready for consumers to be downloading without thinking. At least Apple controls their environment so heavily.

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Finovate: MoneyAisle

Staring at the home page of the website. It looks pretty enough. Though where is the demo? The challenges for customers and FIs have been talked through. The clever stuff is something about reverse auctions when customers are getting credit.

The simplicity of the form belies the complexity of the engine under the covers. Its going to be hard to convince customers that they are not just getting a bunch of adverts. Really they claim that the credit unions and banks are actively bidding for your business behind the scenes

Acquisition costs for banks is low: they only pay when they win the business

The consumer gets a better deal. I wonder if it works? Maybe the next time I go and buy a car I'll try it!

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Show me the best you've got

I appear to be in training for a marathon blogging session at Finovate next Tuesday in San Francisco. My training is unusual in its form: avoid doing anything related to the event for at least two weeks before the big day. Why? Because to blog for eight hours straight is going to deserve focus and a clean plate. It was time to do some real work for a while so I'm not distracted at the event by all the other stuff I feel I should be doing.

Despite the numerous calls and pitches from the PR firms I have chosen to ignore, I'm planning to use Finovate for what it claims it does best: I am going to see fast-paced demonstrations delivered by the best and brightest financial services focused technology companies, and on the basis of the demo alone assess what's going to be the next big thing in the finserv technology space. Or to use Finovate's own words:

With Finovate's signature mix of short, fast-paced onstage demos (no slides allowed) from handpicked companies and intimate networking time with their executives, this conference packs a ton of unique value into a single day.

How can a short demo, with no Powerpoint be the best way to understand a new, innovative product? In short, it is not. And at the same time, it proves how easy it will be for prospective customers to understand the value and the message related to new technology products.

Technologist talk in their local industry babble. Customer's speak their own in-house babble. Somewhere in the middle the only understandable discussion comes from the way a set of English words haven't been abused for their own limited purposes. If a company at Finovate can show their product in a way that makes sense to me, while I'm only half paying attention and blogging, the demo is actually interesting to watch, the product sounds valuable and the presenter even makes me laugh, then that is a signal of potential success. Those companies and PR firms should give me a call again after the event so I can write a little more about what they do.

To everybody that I currently know nothing about, Tuesday is your chance to shine. Do well, and there is a good chance that you will sell well to customers in every subsequent sales demo you do. Bore the 'whatever' out of me and you should be probably going to the accountancy conference up the street where your brand of fast-paced, low-risk 'value' will be more appreciated.

To everybody presenting: good luck! I look forward to blogging about your demos live from the event, and writing more about the best of you soon after.

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FinovateSpring 2010

I'm started to get excited for the Finovate Spring 2010 event in San Francisco. As the organizers put it:

On Tuesday May 11 in San Francisco, FinovateSpring 2010 will again showcase the most cutting-edge financial and banking technology innovations to Silicon Valley and the world.

With Finovate's signature mix of short, fast-paced onstage demos (no slides allowed) from handpicked companies and intimate networking time with their executives, this conference packs a ton of unique value into a single day.

The format of these type of events provides for a great energy. Great presenters, overstuffed on Red Bull and product hype put on a show that tries to appeal to the crowd and their specific target audience. And the audience gets a great opportunity to see what is hot in the financial services technology space.

The companies presenting are already putting a lot of time and effort into building the most compelling demonstrations, tuning their messages, and making sure that this investment in time converts to getting investors, customers and the press interested in their products.

For me, it is the range of products is what makes this event the most interesting. There are a bunch of electronic payment solutions, consumer focused sites for 'financial planning', and even some of the back-office systems providers. I am hoping to get the chance to chat to many of the presenters, while I attempt to blog live from the event (only if my brain and fingers decide to cooperate). So if you would like to catch up with me while I'm there, drop me a note.

If you are interested, the companies presenting are:

Backbase bill.com Billeo Bobber Check Point Continuity Control Controlabill Cortera Cross Commerce Media DebtGoal eRollover Expensify

Fiserv FTRANS The Garland Group Ideon Jemstep Kabbage Liqpay.com MoneyAisle MPOWER Ventures oFlows Pageonce Point of Wealth Systems

SafetyPay Segmint Silver Tail Systems SmartCredit.com TransUnion Interactive TSYS UBank Visa Wikinvest WorkLight

A post from the Improving It blog