Digital, Demos, and Reinventing Fintech Dominate Day 1 of FinovateFall 2020

We were welcomed to the first day of FinovateFall 2020 by a familiar face: Finovate VP Greg Palmer. Greg kicked things off with a discussion of the importance of digital offerings, noting the increased accessibility to all.

The opening keynote was from Pablos Holman of Intellectual Ventures Lab who issued the friendly reminder that “nobody has ever invented a new technology by reading the directions.” Holman encouraged the audience to find real problems in the world and start innovating where there is a true need. He pointed out two keys to success in this type of innovation: first, form fintech-bank partnerships to give ideas the traction they need; second, run a lot of experiments by trying a handful of things to determine what works the best.

During his Mastermind keynote, Scott Gnau, VP of Data Platforms at InterSystems encouraged the audience to leverage the inflection point that is COVID-19 to focus on digital transformation and build technology that is resilient to change in the future. Part of the key to this, he explained, is to leverage partnerships but maintain ownership of your own data to remain agile.

After a round of virtual meet-ups and networking sessions, the demos began:

  • Yext kicked things off by showing how it can improve the search experience on company websites and across the entire search ecosystem.
  • Scientia Consulting presented FinTech Insights, a tool that analyzes digital banking competition in realtime behind their login screens.
  • Finzly showed its open banking platform, Finzly BankOS.
  • Lendsmart demoed its AI driven platform that solves for the lack of automation, transparency, and communication in the lending process.
  • Glance Networks presented its solution for transforming in-branch financial consultations into digital meetings.
  • Nacha demoed Phixius, a tool that enables the secure exchange of payment-related information via open APIs within a trusted network.
  • Icon Savings Plan showcased its portable, universally accessible, workplace retirement savings plan that serves as an alternative to the 401k.
  • Remitter presented its AI-powered, white-labeled digital communications platform that helps lenders maximize revenue by optimizing customer engagement.
  • DQLabs showcased its data management tools.
  • XcooBee demoed its payment workflow automation tools that combine self-checkouts and remote pay to help reduce retail touch-points and boost transactions.