Fimovate Day 2

Today I spoke with the founders of Credit Sesame, Impulse Save, Bolstr, Manilla, Tuition.io, Banno, Mortgage Harmony and eToro.

There are less personal financial management products than in previous years. I wish there were more small business/entrepreneur products that manage cash flow, do invoicing, and or profit/loss optimization. Bolstr looks like a killer app for small business crowdfunding.

Finovera

Finovera is a dashboard for personal finance. In particular, Finovera aggregates bills and facilitate on time bill payment. It sounds like an upgraded Manila, or a Tripit for bills. It also provides a way for users to store photos of important documents like passports and birth certificates which is something you can do with Evernote. I like the goal of Finovera but it seems that having too many capabilities can be overwhelming to users especially in the personal finance management space. The opposite is true when it comes to small business accounting/financial. The more functions that are available to a busy entrepreneurs in one solution, the better.

PreCash Presents Flip Money

Today at Finovate PreCash presented Flip Money. Flip Money is a mobile check deposit app where people can cash checks immediately and do free bill payments. Bill payments are expedited without fees. You don’t need a bank account. This is a great mobile app for the underbanked. The Flip Money app will first launch on Android.

Finovate

Finovate is happening today and tomorrow in New York. I have a press pass, and will be reporting on the financial tech startups and companies who will be presenting new apps and/or updating features of their websites.

Finovate is like TechCrunch Disrupt but it is focused on financial innovation. It’s a bit more buttoned-up than other tech demo events, but it’s important because these companies make money. Follow the hashtag #finovate to know what people are buzzing about. I have yet to finish my first cup of coffee so bear with me!

Finovate Day 2 and Best In Show

Yesterday, I arrived at Finovate a wee bit tired after hanging out Brandy Library with some of the conference attendees the night before.  The whiskey tasting was fun and informative.

Anyway back to the conference. A great way to keep up with the 56 companies who presented is to check  out this mind map created by  Maarten Korz.

Hey Developers! You may want to consider developing financial apps.  Yodlee is the web platform for financial apps, and there are more than 200 developers using the Yodlee platform.

The 7 Best in Show winners:

  • Betterment
  • Makes long term investing easy to do. Facilitates re-balancing.

  • BillShrink
  • Saves you money on mobile, cable.

  • Bundle
  • Sorta like Mint.com but giving more info to make personal finance decisions.

  • Dynamics
  • Innovating credit cards and making them more secure

  • oFlows
  • Making loan applications easiers. (B to B)

  • PayNearMe
  • provides the underbanked with a way to pay in cash for ecommerce transactions at 7-Eleven stores all over the country.

  • SecureKey
  • Providing more security for financial info. (B to B)

    I really enjoyed the conference.  I learned a lot.  Hat’s off to all the companies making personal financial management and creating products that help small businesses manage their cash flow.