Lazy Man and Money

Finovate Spring 2011 Live Blog (Part 5)

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It is day 2 of FinoVate and I’m here again live blogging. I was a little late in getting here, so I’m going to use the company summary for the first two companies that presented which I missed.

This is a continuation of my Finovate Sprint 2011 Part 1, Finovate Sprint 2011 Part 2, Finovate Spring 2011 Live Blog (Part 3), and Finovate Sprint 2011 Part 4. As with all other parts, these presentations go extremely quickly, so please ignore any typos and grammar issues. I hope to provide a more polished review of the best and worst from Finovate after the event is over.

  • Free Monee – I missed this presentation, but I did get to talk with their Chief Strategy Officer at the break. Free Monee wants to give you free money. The idea is to partner with banks and retailers and offer people gift cards for free. Why? It’s much more effective than advertising. Pretty smart. This is something to keep an eye out for.
  • Experian Business Information Services – This is a B2B service (you probably don’t care) that provides businesses with data on other businesses.
  • Mitek Systems – You know those commercials for Chase, where they take a picture of a check with their Android phone and it puts the money into their account. That’s what this company does.
  • Wipro Technologies – Does payroll, expenses, and employee management for small and medium companies. They showed a pretty cool iPhone application that allows employees to easily enter expenses.
  • Hello Wallet – This looks like one of the most useful applications for Lazy Man and Money readers. The application focuses on behavoral personal finance and helping people make better decisions through budgeting and goal setting. It looks like they’ve put a lot artificial intelligence into this. It seems like you might only be able to sign up if your company has partnered with them. I aim to get more details on this at the break, because it seems like it should be a straight consumer tool like Mint.
  • Trusted ID – They are releasing a free identity product today – IDSafe. Sounds good, but you can’t just up for it. They partner with companies such as Lenovo laptops. Lenovo can promote IDSafe as a way to provide more value for its customers.
  • Silver Tail System – Security software for banking systems. If you run a bank, you may care. If you own a big bank, you probably have more important things to do than read this.
  • Goalmine – They showed off a cool mobile application where people can invest and move money immediately. The idea is to do it in small increments. If you are at Starbucks and you say, “Hey, rather than buy a latte, I’ll put $5 in my kid’s college fund.” You press a couple of buttons and it does it. You can also share this moment with your friends on Facebook. The company suggested that your friends may also chip in with your kid’s college fund since they make it easy to do with a gift card through Facebook. Note to self: Get friends like Goalmine’s.
  • Bills.com – Has launched a product called Debt Coach. It’s a bit like Clippy, but instead of helping you with Microsoft Office, he’s going to help you with your debt. Includes things like debt consolidation and debt settlement.

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