Innovative Payments Startups: Bank Friends or Foes?
A number of payments startups at FinovateEurope 2011 may represent interesting partnership opportunities for banks.
Celent analysts regularly attend Finovate events, which showcase the latest and most interesting financial services technology startups. In this report, Innovative Payments Startups: Bank Friends or Foes?, Celent provides an overview of Finovate’s first European event and examines six payments companies and their offerings: BOKU, eWise, Ixaris, LiqPAY.com, Rêv Worldwide, and SecureKey.
Payments offerings discussed in this report reflect many of the retail payment trends observed by Celent, including continued innovation of online payments, new schemes, open platforms, P2P payments, and the varied use of mobile devices. They also serve as a reminder that entrants and technology players are at the forefront of payments innovation.
So where does that leave the banks? “Banks have little to fear from this particular group of payment innovators,” says Zilvinas Bareisis, Senior Analyst with Celent’s Banking Group and author of the report. “To the contrary, some of these companies represent excellent partnership opportunities for the most agile banks to bring innovations to the payments market.”
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].
Tel: +1 212 345 1366
Tel: +44 (0)782 448 3336
Tel.: +81 3 3500 3023
Table of Contents
Overview of Major Financial Services Innovation Themes
Introduction to Payments Offerings
Overview and Selection Criteria
Assessment of Payments Offerings
MPOWER Mobile / Rêv Worldwide
Innovating in Payments
Leveraging Celent’s Expertise
Support for Financial Institutions
Support for Vendors
Related Celent Research