Efma and Capgemini launched the FinTechVisor platform as a digital solution to connecting banks and fintech startups. The primary objective of FinTechVisor is to enable faster and better collaboration between these two groups. SizeUp, Token, and cbot were invited to speak about the challenges and opportunities of fintech companies working with banks at the launch of the FinTechVisor service. Elias Ghanem, VP of Capgemini, presented findings of the landscape of relationships between banks and startups. He discussed paradigm shifts, buying experience vs. products, ownership vs. access, big tech vs. traditional banks, financial services being forced to reinvent themselves, and findings of the World Fintech Report (customer centricity, complimentary strengths, selecting correct partners). He further explained how Capgemini has a process by which fintechs can be certified on the FinTechVisor platform through Capgemini’s evaluation process. Lubomir Olach, Director of International Development at Efma, explained the process for Fintech startups to join the FinTechVisor platform. A discussion with senior members of SizeUp, Token, and bot addressed the specific difficulties and benefits of working with banks from the direct experience and perspective of Fintechs. The fintech panel included Anatalio Ubalde of SizeUp, Eylem Basturk of bot, and Michael O’Loughlin of Token.
technology
SizeUp at Temenos Innovation Jam
SizeUp participated in the Temenos Innovation Jam 2017. SizeUp presented to the audience of Temenos customers to demonstrate its small business banking solution. The Innovation Jam is now in its second year of existence and was designed as a way for Temenos’ customers to meet innovative Fintech companies.
Small Business Banking Innovation Trends
Deborah Bianucci, President and CEO of BAI presented four worldwide innovation trends in her talk “Small Business Banking Innovation from Around the Globe” at the American Banker Small Business Banking Conference. Model implementations of these trends were discussed and include:
1. Improving and Speeding Up Access to Financing (DenizBank.com, Nusenda.org)
2. Streamline Payments (ideaBank.pl)
3. Use Analytics with Advice (SizeUp.com)
4. Uniquely Serve a Niche (Wesbank.co.za and Uber.com, intesaSanpaolo.com, TEB.com.tr)
[vc_video link=”https://vimeo.com/193081382″]
According to the American Banker Small Business Banking Conference, “…because innovation for the small business segment is so important to competitive differentiation, there is an increased emphasis on innovating for small business. Some of the most progressive innovation is happening outside the U.S. by banks that are taking different approaches to serving small businesses.”
BAI empowers financial services leaders to make smart business decisions that drive positive change and move the industry forward. For more research from BAI, please visit BAI.org.
SizeUp Selected for the Innotribe Showcase in NYC
SizeUp was selected as one of ten early stage startups to present at the New York City Innotribe Showcase. According to the SWIFT Innotribe press release announcing the selection of the innovative startups, over 500 judges from across the financial, technology, and investment communities evaluated the companies by assessing the startups’ ability to provide an important innovation in the future of the financial industry.
“There’s a chasm between how startups and banks practice innovation, and helping our startups understand how to communicate their value propositions to SWIFT’s community helps banks quickly evaluate new technologies and models, and helps our startups identify appropriate partners and investors,” said Mike Sigal, Lead Coach of the Startup Challenge.
A hand-picked audience of financial services experts, angel investors, venture capitalists, and global bank decision-makers will attend the New York City showcase to identify the top startups.
View a world map showing the locations and names of the financial tech company presenters.