Financial Technology Innovations: Reporting from FinovateEurope 2014

by Zilvinas Bareisis, April 16, 2014
Product Trends/ Reviews
Global

Abstract

Payments and Digital Banking continued to be strong themes at FinovateEurope 2014. Rather than seeking to disrupt the world of banking, many demoed solutions focused on helping banks deliver innovative services to their customers.

In the report Financial Technology Innovations: Reporting from FinovateEurope 2014, Celent reviews financial services innovation themes and how they have changed over the last few years based on the companies presenting at FinovateEurope. This report includes an overview of FinovateEurope 2014 and also looks in more detail at key themes in payments, digital banking, and other areas by discussing the most interesting solutions presented at the conference.

FinovateEurope, now in its fourth year, was again a two-day event with a record 67 companies presenting their solutions. The show had an interesting mix of startups and young firms alongside large established vendors, and even banks. Remarkably, 50 out of 67 firms have never presented at FinovateEurope before.

“Shovel manufacturers benefited the most in the gold rush days. Similarly, the most interesting demos to us in payments were from platform companies focused on enabling others to rapidly deliver payments propositions,” says Zilvinas Bareisis, Senior Analyst with Celent’s Banking Group and author of the report. “Overall, cloud has been an overarching theme at this year’s conference. Clearly, Software-as-a-Service (SaaS) and other cloud-based platforms are rapidly becoming credible alternatives to the more traditional IT deployment.”

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned subsidiary of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America
Michele Pace
mpace@celent.com
Tel: +1 212 345 1366

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81 3 3500 3023

Table of Contents

Executive Summary

1

Introduction

3

Overview

4

 

The Participant Mix

4

 

Overview of Key Financial Services Innovation Themes

5

 

Celent’s Top 10

8

Key Themes in Payments and Selected Solutions

10

Key Themes in Digital Banking and Selected Solutions

16

Other Key Themes and Selected Solutions

21

 

Security and Fraud Management

21

 

Image Capture

24

 

Miscellaneous: Digital Assets Vault

26

Conclusion

28

Leveraging Celent’s Expertise

29

 

Analyst Access

29

 

Support for Financial Institutions

29

 

Support for Vendors

29

Related Celent Research

30

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