October 7, 2015
Let’s Talk Payments is where the New Global FinTech is. This time we found the New Global Fintech at FinDEVr 2015 in San Francisco. FinDEVr is the premiere financial technology and banking event that brings FinTech developers, Chief Technology Officers (CTOs), banks, VPs of engineering and the best technology all together at one place. The one thing we loved about FinDEVr is that it brought the developers to the front of the stage. Developers who usually are in the background, behind their laptops, are never seen at networking events. However at FInDEVr, most of the speakers and presenters included FinTech companies’ developers. All the presentations and product demos included coding, API samples or some programming language.
Two of Let’s Talk Payments’ analysts were present at the event on Day 1 to report from the dual track event held at UCSF’s Mission Bay Conference Center. Day 1 was full of presentations by FinTech startups, mid-sized companies and even some big banks like American Express. The presentations were going on simultaneously in two auditoriums (Level 1 and Level 2). While the presentations were going on, there were showcase booths of the presenting companies on Level 2 of the conference center.
Yodlee Interactive is one of the new standard bearers in the financial technology industry. We have seen them in every FinTech event on the west coast. They had a booth at The FinTech Revolution in Redwood City too. Yodlee developers launched their new set of restful APIs, FastLink, that helps a user link multiple bank accounts and cards in one place with an easy drag and drop feature at the back end. Financial Apps showcased one of their customers’ apps called Money Match, which is a personal money management app built via their APIs. They talked about how they can import raw data from Yodlee and turn it into relevant data using their APIs and relevancy machine. They have worked with Yodlee to help Yodlee users create budgets, estimate/analyse cash flow, create risk scores, and even perform fraud detection using their financial app platform.
There was a team from American Express Global Corporate Payments who presented their open payments APIs for the corporate and B2B sector. They attended the event to encourage and invite developers to build products around their APIs.
Justin Woo, developer at Braintree and PayPal gave an amazing and engaging presentation on how easy their APIs and SDKs are to use. He explained how Uber uses Braintree to make payments smoother for users. FinDEVr 2015 would have been incomplete without biometrics. We met BehavioSec, a payments biometrics security company that authorized payments using a person’s behavior and physical motions while making online payments.
A few product/service demos were around security, risk management, fraud detection and cybersecurity solutions. SnoopWall showcased their cybersecurity solutions for mobile apps and also talked about how mobile banking apps are not safe. It showcased Bank of America’s mobile app and showed how unsecured it is. They easily hacked the login credentials and password entered within the app. Last but not the least, the Blockcypher team represented blockchain technology on Day1 of FinDEVr 2015. Surprisingly, there was only one blockchain technology company presenting at FinDEvr 2015 Day 1. Blockchain has been a hot topic in the FinTech space. However, APIs took over blockchain on Day 1. All companies were not only introducing their APIs but were explaining how easy their APIs are to use and implement.
Overall, Day 1 went well with great hospitality and good amount of time for networking, presentations and at the booth showcase. However, dual track presentations didn’t allow the attendees to attend all the presentations happening at the event. Catch us tomorrow, October 7 2015 for Day 2 of FinDEVr 2015 in San Francisco. Look out for live tweets @letstalkpaymnts and #FinDEVr2015 and the summary article if you are not attending the event.