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Javelin ID's Finovate trends of PFM, investments, authentication

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PLEASANTON, Calif. (5/7/14)--Last week's FinovateSpring 2014 conference showcased new products and technologies for financial institutions, and Javelin author Mary Monahan picked three trends from the crowd in a May 2 blog post.
  1. PFM isn't a four-letter word anymore. Personal financial management products that entice consumers with carrots, not sticks, stood out. SaveUp, which is jointly sponsored by CU Solutions Group and Filene Research Institute, uses mobile gaming, rewards points and a sweepstakes for prizes up to $2 million. Qapital creates simple interfaces that put savings goals for vacations and big purchases front and center. OnBudget takes its lead from prepaid cards, a popular product with consumers.
     
  2. The intersection of Wall Street and Main Street is digital. Startups give everyday consumers investment tools to work with stocks, initial public offerings and large real estate investments. Market Prophit quantifies the information from financial bloggers to help novices identify whose investments to follow. Crowd funding is big, and Realty Mogul lets consumers use it to invest in property such as office buildings, apartment buildings and shopping centers. Stockpile lets people give stock in the form of a gift card.
     
  3. Authentication is hot. Authentication isn't new, but "unusually attractive" implementations were on stage at Finovate, Monahan noted. "Don't pay until you see the whites of their eyes" could be the motto for EyeVerify, which uses a smartphone camera to authenticate a user through the blood vessels in the whites of their eye. NICE Systems went the audio route, using recordings of a user's speech to generate a "voiceprint." Text Power allows the user to send a text to authenticate a transaction, instead of the user receiving a text for authentication. Zumigo uses carrier data to identify the device, the person who owns it and its location to provide secure authentication.