As many of you know, Finovate Fall, the financial technology showcase, was held last week in New York City. Cachet was honored to be among the 63 companies that were chosen to demo their unique financial technology innovations. (For more information on our product, CheckReview™, read Christopher’s post here.)
While watching the demos I was impressed by the diversity in the technologies presented. The products on display ranged from personal finance managers to biometric-authentication security, from small business cash-flow management to profitability analytics for improving customer relationships.
What also struck me is how the innovations presented are so closely tied to the concerns and issues we hear about daily in the financial news. The stress of trying to refinance your home with a low credit score and the desire to better manage your finances and to raise your children with good spending and saving habits are all highly relevant issues today.
There were many innovative and interesting ideas brought to the table, some that actually have the potential to reshape our industry. It was exciting to see new frontiers being explored, and to consider the implications and opportunities for us, as service providers and consumers.
A particularly exciting development for Cachet was the debut of FlipMoney by our partner PreCash. Billed as the first viable mobile wallet application for the underbanked consumer, Flip makes mobile payments faster, affordable, and accessible to more people. In addition to expedited bill payments and P2P payments, Flip uses Cachet’s mobile remote deposit capture technologies to allow users to deposit their checks directly into their mobile wallet, connected with a prepaid debit card. We are excited to be working with PreCash and look forward to sharing more about Flip in the future.
Congratulations to all our fellow presenters at Finovate Fall on their achievements, especially those who were recognized with a best in show title. It was a great experience, and we look forward to seeing how the ideas presented evolve and grow until the next Finovate Show.