Finovate, a launchpad for innovative companies and products in the financial, banking and payments sectors, is hosting three Boston area companies today.
The first Finovate kicked off the fall of 2007 with twenty companies demoing including some familiar names, young financial tech companies at the time, like Mint, Prosper, mFoundry and Firethorn. One defining aspect to this invite-only event is that companies both give a series of 7-minute pitches as well as have intimate networking opportunities with attendees – those being potential customers, partners, investors, clients, and even future acquirers.
Since this first event, Finovate has gained visibility and expanded into a larger launchpad organized in both the Spring and the Fall. In fact, last year attendance grew 50 percent so organizers landed a new larger venue this year at the San Francisco Design Center Concourse. With mobile payments in particular providing heightened interest in financial technology (more fondly referred to as fin tech), there’s no doubt that this Spring’s event will draw even more attendees.
The two-day, invitation only FinovateSpring 2011 (which runs today and tomorrow) features demos from both established companies’ newest products as well as up and coming startups. Sixty demoing companies in number this year, three up and coming startups are from Boston, and we tapped their founders and CEOs to learn what new features and products they were unveiling at the event:
Clovr Media
What is Clovr?
Clovr stands for Card Linked Offers with Virtual Redemption. The company is just about ready to launch with national retailers to make it actually enjoyable for you and I to redeem offers (aka no more mail-in rebates, flashing loyalty cards, check-ins, coupons, entering codes online, etc.). Clovr has created a platform that links any brand’s ad (banner, text, video, mobile, and even print with the help of next-gen barcodes) directly to your debit or credit card statement. All you have to do is click the offer, and after you make the purchase, Clovr routes the savings automatically to your card.
From their founder and CEO, Tom Burgess:
We at Clovr Media are thrilled to be presenting our Card Linked Offer platform at Finovate. I can’t imagine a better place to make the announcement that we’re officially inviting brands and financial institutions into our beta program and booking campaigns for the back to school and holiday season. We look forward to sharing with Finovate attendees how Clovr is bridging the gap between banks and brands with total attribution, and how it will help banks maintain that coveted ‘top of wallet’ position.”
Catch up on other recent Clovr news here.
Currensee
What is Currensee?
Currensee is making it possible for anyone – regardless of their level of knowledge – to make smart investments in the $4 trillion foreign exchange currency trading market (Forex). The company has created a platform whereby you and I can automatically execute trades based on the most successful Forex traders in their community (who are identified as Trade Leaders). These Trade Leaders receive a small fraction of the profits you generate. Currensee is unveiling a completely new aspect of their platform at Finovate, the Currensee Portfolio Builder, a first-of-its-kind interactive tool that helps investors decide which Trade Leaders they should allocate money to and execute trades with.
From their founder and CEO, Dave Lemont:
Finovate is a launch pad for some of the hottest and most innovative companies in financial services. Our selection is an important validation of the Trade Leaders program and our approach to bringing the world currency markets as a diversified alternative investment to every investor. We can’t wait to show our cutting-edge technology and the world currency market opportunity on the world’s biggest financial-technology stage.”
Catch up on other recent Currensee news here.
peerTransfer
What is peerTransfer?
peerTransfer is making it up to five times cheaper for college students to pay their tuition internationally. Students send money through peerTransfer by entering their personal information and the currency at hand. peerTransfer then bundles payments in the same currencies together to score a better exchange rate at wholesale. This ends of saving 3-5% of the amount transferred; on a $40,000 tuition payment that can amount to around $1500. Just last week the company announced a free payment processing solution for colleges, and it plans to unveil and present that product on stage at Finovate.
From their founder and CEO, Iker Marcaide:
We are looking forward to sharing our disruptive solution that helps international students and their schools in processing tuition payments at this premier, global financial technology event. There are tons of great companies on the demo roster this year at Finovate covering every side of financial services, and a fantastic atmosphere is expected. We kicked things off with a pre-Finovate dinner tonight and look forward to getting to know the rest of the companies.”
Catch up on other recent peerTransfer news here.
Make sure to wish these leading Boston fin tech companies the best of luck out west!
