I am not at Finovate this year, but I am following the hashtag. It looks like Meniga is getting a lot of buzz.
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.
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 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!
First off, there’s a definite clash of cultures. Lots of people are wearing suits. I was here last year, so it doesn’t surprise me at all. Some of the start-up guys are surprised to see suit and ties. Another thing is that Finovate is much bigger than last year. It’s two days. There’s a nice laptop lounge. There were waffles for an afternoon snack.
Demos: There are so many of the companies are in the Personal Finance Management PFM space. Some of them are redundant, but many of the ones that look good are using Yodlee. Mint is noticeably absent, mainly because they totally PWNED the PFM space.
The ones that I have liked so far: Credit Sesame, Betterment, Pop Money, and H&R’s Tax Center. All of these are providing solutions for both consumers and small businesses.
Complaint: iPad Apps. Impractical. Most people will do their banking on their native computer or laptop since that’s where all their passwords and cookies are stored. I really doubt iPad users will really migrate that information over.
Demos start at 9:30AM. Follow my updates here as well the #finovate hashtag on Twitter.
CEO Amy Butte is presenting TILE Financial. Tile is a financial dashboard for young people. It looks similar to Mint.com. Donations to charities are featured. The goal is to get young adults develop a financial identity and get into investing.
Just got to Finovate. I caught the end of Home Accountpresentation. They want to be the Kayak.com of home lending.
Tonight I mixed and migled with many of the attendees and presenters of Finovate 2009. Finovate is like TechCrunch 50 for banking and investing and finance-related start-ups. I will be at the conference tomorrow for most of the day except for the hours I will be doing bookkeeping.
It was good to see Jon and Michael from SmartyPig as well as Murali from Billeo. We were on a panel at SXSWi back in March.
I met these cool guys:
Christophe, founder of Visible-Banking.com.
Mark Clare, from New Zealand and Value Cruncher.
Dan Rosen of Highland Partners
James Hyde of iPay
Yoni Assia of eToro
Felix Brandon Lloyd of Skill-Life
Vaibhav Puranik of Opera Solutions
Many of the people I spoke with have created applications or websites that make managing personal finance, investing, banking easier and more transparent.