One of the most exciting parts of any Finovate conference is the demo competition and FinovateFall 2018 in New York City was no exception. The companies who came to demo their new offerings showed up ready to go, and they truly impressed everyone in attendance. This year's top five — the Fantastic Five, as Finovate calls them — covered everything from financial literacy and financial education to giving financial assistance to aging parents, and even helping banks better empathize and engage with their customers. The Fantastic Five certainly impressed the conference goers with live demos of their Fintech solutions. One of these Fantastic Five, Golden, is actually an Envestnet® | Yodlee® Incubator company.
Golden, an AARP award winner and recently featured in Forbes/Next Avenue, has developed a financial caregiving app and website that socializes wealth and daily money management across generations, helping 75 million baby boomers who are taking financial care of their 50 million senior parents. Golden allows customers to step in and manage parent’s finances when they no longer can.
Banzai showed off experience-based learning solutions that teach students to master their personal finances. It's a free, online financial literacy education portal for literally anyone and everyone interested in personal finance. It's used by more than 40,000 math, business, and family/consumer science teachers, and it shows students how to handle "real-life adult financial dilemmas, from taming a budget and paying auto insurance to navigating taxes."
Bond.AI uses a human-centered AI platform that works on voice assistants, and is powered by what they call an "Empathy Engine" which can help banks better understand their users' behavior, as well as encourage them to monitor and improve their financial health. Boost.AI allows banks to "singularly transform your bank by intimately understanding users to hyper-personalize banking experience, and most importantly, monetizing user data to boost revenues."
Bumped is a unique kind of loyalty program that gives their customers free stock for their purchases, which turns loyal shoppers into shareholders. The amount isn't much — but it's more than you're getting now.
Meniga created a white-label digital banking solution that helps banks to build customer engagement through personalized digital channels. They currently serve more than 65 million bank customers in 30 countries. Their website says they're able to "enrich the digital banking customer experience & deliver engagement metrics that rival leading social media platforms."
And although we didn't make it to the Fantastic Five ourselves, Envestnet® | Yodlee® launched its own product, Envestnet® Intelligence for Financial Institutions at FinovateFall 2018. Envestnet® Intelligence for Financial Institutions is an omni-channel intelligence tool that leverages AI, natural language processing, and an advanced data analytics engine. This tool enables financial institutions to easily get answers in real-time to key business questions across desktop, mobile, and Amazon Alexa-enabled devices. Providing interactive, predictive, and conversational capabilities, Envestnet Intelligence extracts information from comprehensive financial data sets to ensure financial institutions have an easy way to answer crucial questions anywhere, anytime, on any device.
If you would like to learn more about Envestnet Intelligence, or how companies like FinovateFall's Best of Show winners are able to use our API solutions to help financial institutions and their customers, please visit our developer website at https://developer.yodlee.com/Yodlee_API.
