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FinovateAsia: Innovation in Customer Experience, Regtech, and Financial Crime




How have customer expectations changed as financial services companies around the world rush to embrace digital transformation? How can technology be leveraged to provide more personalized financial solutions without violating privacy or adding unnecessary complexity? What is the role of digital identity technology in making the online and mobile worlds safer places for all of us to work and live?

On our final day of FinovateAsia Digital, these are some of the questions our fintech industry experts answered – often with surprising responses. From the rise of “the offer you can’t refuse” in customer experience to negotiating between the helping hand of government and its ever-present regulatory arms, our experts bring a wealth of experience and insight into fintech’s most urgent themes.

If you missed any of the conversation from FinovateAsia Digital this week, then you’re in luck. You can still register and gain access to an entire week worth of informed commentary and lively discussion on the biggest trends shaping fintech in Asia.

On the opportunities in digital and the rise of new customer expectations

I think if you look at what happened in the first few months of this year, I tend to call this the biggest digital training course the world has ever seen. We had to turn to digital for every aspect in our life. And we learned the benefits of digital, like working from home. Sometimes it’s really fun and sometimes it’s really challenging. But it’s part of our day-to-day life and it won’t disappear soon.

I think we’re at the beginning of a new phase of customer experience. Customer expectations will change. I think that in the last ten years, we mainly saw an evolution of digital convenience, and many companies understood that and became really big because of that. I think that situation has matured. In my opinion, we’re at the beginning of a new curve, of new customer expectations that will be formed thanks to new technologies like AI, IoT, 5G, quantum computing, robotics, the general purpose technologies … But it’s not going to just be technology that drives new customer expectations, it will also going to be personal dreams and wishes, and also the challenges the world will be facing.

-Steven Van Belleghem, Author, Customers The Day After Tomorrow

On leveraging advanced technologies to deliver more personalized solutions

I’m a techie. And that’s true for the rest of our team. We love our algorithms, our data models. And one of the things we’ve learned is that sometimes (with) personalization, the best one (solution), the most engaging one, does not come from the most clever models that you come up with, but instead comes from fairly simple rules. So it should not be underestimated: you should not fall in love with your beautiful, artificial intelligence and data science models to the detriment of simplicity, because sometimes simplicity is what is bringing the most engaging content.

Another (lesson) we learned as well very early on is to make sure that customers and users are in control. And that whatever bite-sized, personalized piece of content you are delivering to them is going to give them them the option to say “stop” or “give me more” or “give me less often” … (to put them) in control of that feed of information they are receiving.

–Olivier Berthier, CEO and Co-founder, Moneythor

On the challenge of providing digital identity solutions in an increasingly globalized world

If I was to look at the way that digital identity is changing the landscape, I think actually what we’re seeing at the moment is really the proliferation of a lot of intermediating layers. So there is quite a number of different platforms that are evolving, platform players that are actually doing a lot of the heavy lifting for a lot of the companies in the fintech space. So whether you might be talking about somebody like Onfido or any of their competitors, there’s been this whole big wellspring of different types of companies that are actually doing that integration work.

And I think they have been carrying off the back of a lot of the actual governmental work that’s been happening to come up with different digital identity models. These are very complex problems, but I think given that the last decade or so, a lot of trade has been increasingly globalized, payments have been increasingly globalized, it’s become very difficult for people to keep pace with the change of all of these different governments coming up with different types of systems and experimenting.

–Danielle Szetho, Fintech Client Advisory, Standard Chartered Bank

Available On Demand for five days after the end of the conference week, FinovateAsia Digital is a unique opportunity for those interested in learning more about fintech in the Asia-Pacific region. Browse our all-digital presentations, interviews, and discussions; network with fellow attendees; and gain key insights into the trends driving fintech innovation in critical, emerging markets. Visit our FinovateAsia Digital Hub and register today.

Photo by Matthew Simmonds from Pexels



inAtlas en el Top Ten de las principales empresas en Location Intelligence




inAtlas en el Top Ten de las principales empresas en Location Intelligence
  • La revista IndustryWired sitúa a inAtlas entre las diez principales empresas de Inteligencia de Localización con herramientas efectivas para el éxito empresarial

–   inAtlas ha desarrollado Geomarketing, una aplicación eficaz y útil basada en la Location Inteligente que detecta las zonas de mayor rentabilidad y optimiza las acciones de captaciones de nuevos clientes y retenerlos

La Location Intelligence o Inteligencia de Localización se ha convertido en una tecnologia ágil y eficiente que recopila, analiza datos geoespaciales con aplicación práctica en los diferentes sectores económicos y permite lograr el éxito de las empresas.

La revista IndustryWired, conocida por su gran impacto en el sector tecnológico, en su reciente artículo Top 10 Location Intelligence Companies Redefining usiness Success, sitúa a inAtlas, empresa especializada en Location Analytics que ofrece soluciones estratégicas de negocios basadas en la ubicación, en el ranking de las diez mejores empresas de Inteligencia de Localización que utilizan esta metodología para optimizar los éxitos ante los desafíos empresariales al detectar tendencias, adelantarse a sus competidores y tomar decisiones más inteligentes.

 La publicación realiza un análisis acerca de la efectividad de utilizar herramientas de Location Intelligence para conseguir éxito en el desarrollo de estrategias empresariales y toma de decisiones eficaces mediante la integración de datos de ubicación generados a partir de diferentes fuentes como comportamientos del consumidor, factores ambientales, IoT o sistemas GPS entre otros. La aplicación de Geoanalitica online de inAtlas, apunta la revista, ayuda a los clientes a realizar planes de negocios, diseñar campañas de marketing, encontrar nuevos clientes, implementar estrategias de geo-marketing o encontrar lugares ideales para nuevos puntos de venta y franquicias.

Además, recoge los diferentes servicios de la compañía, sus soluciones comerciales sectoriales, servicios de geolocalización, generación de leads, geomarketing, monitoreo de la competencia, análisis predictivo y prescriptivo, mapas de expansión y los modelos de propensión a compra.

 inAtlas, ha desarrollado Geomarketing, una herramienta que relaciona contextos geográficos con datos de los mercados empresariales y sociodemográficos para negocios B2B y B2C. Esta aplicación se fundamenta en la Inteligencia de Localización y ofrece un amplio abanico de soluciones y utilidades, para bancos, empresas de seguros, inmobiliarias, retails, empresas de sector telecom y energía,cadenas de franquicias, redes de negocios, aportando valor añadido, para simplificar el proceso de toma de decisiones de negocios.

Geomarketing, permite sincronizar de forma continua la información interna del negocio, gestionadas por CRM, Softwares de Business Intelligence y ERP con información actualizadas de los mercados de empresas y hogares, oferta inmobiliaria, catastro y bases de datos sectoriales en la totalidad del territorio de España y Portugal.

Gracias a la Inteligencia de LocalizacióninAtlas, detecta cuáles son las zonas de mayor rentabilidad, hecho que permite optimizar las acciones de captaciones de nuevos clientes y retenerlos. “Conocer la monitorización del comportamiento de los clientes, competidores y proveedores de un área elegida, junto con la localización y el comportamiento de una empresa en el mapa aumenta la competitividad de las empresas al ser capaces de actuar con diligencia, anticiparse y encontrar oportunidades de negocio”, asevera Silvia Banchini.


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EIT Climate KIC

Es conocido que el mercado asigna menos recursos a innovación de lo que sería económica y socialmente deseable.

La respuesta de EIT Climate-KIC a la emergencia climática consiste en centrar los esfuerzos en la innovación sistémica, y en generar alternativas y canales que permitan una transformación profunda en países, ciudades, regiones, industrias y en las cadenas de valor en su conjunto.

La singularidad de esta época ocasiona cambios sociales inimaginables a día de hoy, e imposibles de comprender o predecir por cualquier humano.

Teniendo bien presente todo esto, Tech Valley, en colaboración con EIT Climate-KIC, Forinvest, y con el patrocinio del Ayuntamiento de Valencia – Valencia Activa, organiza el 3 de diciembre de 2020 la conferencia: Green Finance in a post- COVID-19 era: EIT CKIC Deep Demonstrations in Spain.

Abordaremos los denominados Deep Demonstrations o Demostraciones en Profundidad.

Son proyectos a gran escala a través de los cuales desde EIT Climate-KIC ofrecemos nuestro modelo de «innovación sistémica como servicio» a los «propietarios de desafíos» más ambiciosos de Europa; es decir, a los alcaldes, los ministerios gubernamentales, los líderes de la industria y de la comunidad, y a los financiadores. Ellos son los que tienen los medios y el mandato de la ciudadanía para hacer frente a los mayores desafíos del cambio climático en Europa.

Diseñamos la iniciativa para satisfacer la creciente demanda de nuestro papel como orquestadores de la innovación sistémica.

El modelo utiliza una cartera equilibrada de intervenciones –en materia de educación, innovación tecnológica, participación ciudadana, política, finanzas y otras palancas de cambio relevantes– para catalizar una rápida descarbonización; para impulsar la adaptación al clima y la resiliencia a través de enfoques de economía circular; y, en el caso de las industrias, para generar nuevos mercados, modelos empresariales y cadenas de valor coherentes con la reducción de 1.5ºC exigido por el IPCC.

Como representantes de los «propietarios de desafíos» contaremos con Eva M. Pérez García, Directora de Innovación y Promoción y Sostenibilidad de la Fundación Valencia Port, María Paz Díaz Nieto, Directora General de Fondos Europeos de la Consejería de Economía y Hacienda, Gobierno de Cantabria TBC y Juan Azcárate, Subdirector General de Energía y Cambio Climático del Ayuntamiento de Madrid.

El objetivo del evento es reunir a representantes de los Deep Demonstrations españoles y del mundo financiero-empresarial para:

  • Explicar en profundidad los Deep Demonstrations en España, como oportunidad de inversión verde en la era post-Covid-19.
  • Conocer las necesidades a corto y largo plazo de los representantes financiero-empresariales y su valoración de los Deep Demonstrations.

El evento incluye una mesa redonda moderada por Valentín Alfaya, Director de Calidad y Medio Ambiente de Ferrovial y miembro del Consejo Directivo de EIT Climate-KIC con representantes de entidades como Bankia, Banco Sabadell, Insomnia Consulting y General, de SITI B&T Iberica y de Tech Valley.

EIT Climate-KIC ha diseñado la iniciativa para satisfacer la creciente demanda de su papel como orquestadores de la innovación sistémica en el escenario post Covid-19. Su modelo utiliza una cartera equilibrada de intervenciones – en materia de educación, innovación tecnológica, participación ciudadana, política, finanzas y otras palancas de cambio relevantes – para catalizar una rápida descarbonización; para impulsar la adaptación al clima y la resiliencia a través de enfoques de economía circular; y, en el caso de las industrias, para generar nuevos mercados, modelos empresariales y cadenas de valor coherentes con la reducción de 1.5ºC exigido por el IPCC.  El mundo necesita inspiración y pruebas de que es posible un cambio inclusivo, rápido y a gran escala, para lograr el objetivo de emisiones netas igual a cero a tiempo.


  • De 10:00 h. a 10:15 h.

Bienvenida e Introducción: EIT CKIC Deep Demonstrations, 15 min.

Ignacio Chanzá, EIT CKIC Innovation Lead  y Juan Manuel Dapcich, Co-Fundador Tech Valley.

  • De 10:15 h. a 11:15 h.

La estrategia de sostenibilidad climática del Puerto de Valencia: EIT Climate KIC Deep Demonstration Net-Zero Emissions, Resilient Maritime Hubs and SuperLabPorts. 15 min.

Eva M. Pérez García, Directora de Innovación y Promoción y Sostenibilidad de la Fundación ValenciaPort.  

La estrategia de sostenibilidad climática de la Región Cantabria: EIT Climate KIC Deep Demonstration Circular, Regenerative Economy. 15 min.

María Paz Díaz Nieto, Directora General de Fondos Europeos de la Consejería de Economía y Hacienda, Gobierno de Cantabria

La estrategia de sostenibilidad climática del Ayuntamiento de Madrid: EIT Climate KIC Deep Demonstration Healthy Clean Cities. 15 min.

Juan Azcárate, Subdirector General de Energía y Cambio Climático del Ayuntamiento de Madrid.

  • De 11:15 h. a 11:30 h.

Pausa café

  • De 11:30 h. a 12:30 h.

MESA REDONDA. Los desafíos climáticos y formas de financiación: EIT CKIC Deep Demonstrations como referencia para atraer a los inversores en innovación en la era post-COVID-19.

Moderador: Valentín Alfaya, Director de Calidad y Medio Ambiente de Ferrovial y miembro del Consejo Directivo de EIT Climate-KIC.


  • Representantes de los Deep Demonstrations:
  • Eva M. Pérez García, Directora de Innovación y Promoción y Sostenibilidad de la Fundación ValenciaPort.
  • María Paz Díaz Nieto, Directora General de Fondos Europeos de la Consejería de Economía y Hacienda, Gobierno de Cantabria.
  • Juan Azcárate, Subdirector General de Energía y Cambio Climático del Ayuntamiento de Madrid.

 Altos representantes de entidades financieras y empresas:

  • Raquel Sánchez Buendía, Directora de Bankia Fintech & Innovation Research.
  • Pedro Lizondo, Director de Global Financial Solutions, Banco Sabadell.
  • Francisco Estevan Vitores, Co-founder and CEO, Insomnia Consulting.
  • Giorgio Severi, Director General de SITI B&T Iberica.

Durante la mesa redonda se recogerán los puntos principales del debate y, al final, se propondrá un grupo de trabajo – presidido por EIT CKIC – para darle seguimiento a las colaboraciones que surgirán de este evento.

  • De 12:30 h. a 13:30 h.

Preguntas y respuestas


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Big Data

AI may be the next Warren Buffett but there are challenges ahead




From a disruptor to an integral part of our lives, artificial intelligence (AI) is the defining technology of our times, one that is rapidly changing how we work, consume and invest.

Its ability to sought, analyse and interpret huge amounts of data efficiently and quickly has seen it being deployed for trading and getting investment ideas. In most advanced markets, AI trading is gaining ground and is being used to develop trading strategies.

“Globally, asset management is increasingly being defined by artificial intelligence and machine learning (ML). Funds run by computers account for more than 60 percent of US trading activity,” said Kanika Agarrwal, CIO, Upside AI, which does machine-learning-based investing.

AI is unbiased, unemotional and has no specific style of investing. A good algorithm is dynamic and can test and refine trading strategies looking at market trends. It can do what analysts do—gather information, data and evaluate them to come up with suggestions.

“It can consistently find alpha, which is difficult for human managers who thrive in some market cycles but not in others,” said Agarrwal.

“Globally trading activity (short-term, high frequency, technicals, etc.) is largely run by technology now. Even passive ETFs have surpassed active managers in AUM in the US,” Agarrwal said.

She is of the view that the next step up for AI will be fundamental investing.

“We believe the next great investors like Warren Buffett and Charlie Munger are going to be AI. Benjamin Graham and Warren Buffett have been big believers in investing using systemised rules and staying away from emotions. The best way to follow rules unemotionally is the use of AI and technology,” Agarrwal said.

While developed markets seem to be rapidly getting acclimated to this technological revolution, emerging markets like India will take some time to see its dominance in investing.

“In India, while investing is largely people-driven, I believe we will see structural shifts in the next decade as our markets mature and alpha becomes more difficult to find. We will increasingly see more products like ours trying to find different approaches to investing in using AI,” Agarrwal said.

AI’s biggest strength is its absolute dependence on data and uses algorithms to understand the market and its cycles. This is the reason AI is being used in the investment and wealth management industry globally.

Mihir K Malani, Founder of FinTech startup, Nerve Solutions pointed out while the eventual aim is always to improve returns, the process usually involves multiple steps like picking the right stocks based on historical trends, deciding upon the investment size, identifying and predicting trends, etc.

“A commonly adopted approach is to use ML models to categorise clients based on their profiles, investment preferences and risk appetites and letting the model arrive at the most suited investment strategies for them,” Malani said.

One of the biggest advantages of a well-developed AI model for investment is its ability to avoid pitfalls and predict drawdowns successfully, he said.

“Also, a good way to measure the efficiency of a model is through the number of false positives generated by it. The lower the number, the better and more trustworthy the model,” Malani added.

The challenges

Even though AI appears to be an inevitable force in investing, there are challenges ahead.

While it is easy to access large sets of structured financial data to build machine-learning models, there are several challenges associated with developing a model that works.

Agarrwal of Upside AI believes that the challenges of AI are true across industries, including investing–data quality, the quality of the model built, lack of talent in India to build these machines, solving qualitative investing issues like corporate governance and wider acceptance of the technology.

Differentiating genuine patterns and coincidences is among the biggest hurdles one may face while applying AI to investing.

“At times, mere coincidences give an illusion of correlation. Inability to identify these could lead to extremely inaccurate models,” Malani said.

Identifying the right features and then designing the model is a challenge.

“This is a common challenge often faced while developing AI models for derivative instruments. With a number of factors involved in the pricing of a derivative contract, missing out on the right features could lead to seemingly correct but erroneous models,” Malani said.

Besides, embedding geopolitical factors within a model is also a challenge.

“While incorporating price and volume information within an AI model is fairly procedural, it is extremely difficult to account for factors that lie outside of the markets but have a profound impact on market movements. Such factors often are the reason for models to fail,” Malani said.

Despite these challenges, AI is the future of investing, one that opens up a lot of possibilities for investors and managers alike.


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FinovateWest Best of Show Winners Announced




Here ye! Here ye! The votes have been cast and tallied. Here are the companies that have been awarded Best of Show trophies at this year’s FinovateWest Digital fintech conference.

Breach Clarity for its technology that identifies and diagnoses consumers’ unique breach histories to prescribe personalized actions to improve financial health for both financial institutions and consumers.

Finzly for its digital banking solution that improves banking services for any bank using novel UIs and a services-based architecture.

Glia for its digital customer service platform that connects financial institutions to their customers using chat, voice, video, cobrowsing, and AI.

Interface for its AI-powered call center technology that helps financial institutions automate 60% of their calls in 60 days.

Zeta for its full-stack, cloud-native, API-ready core banking and transaction processing platform for issuance of credit, debit, and prepaid products.

A huge, pre-Thanksgiving thanks to all the companies that participated in FinovateWest Digital – and to all those who attended our November conference, as well. Be sure to keep an eye out for our all-digital, year-end event, the Finovate Fulltime Review, coming up in December. In the meanwhile, have a wonderful holiday week!

Notes on methodology:
1. Only audience members NOT associated with demoing companies were eligible to vote. Finovate employees did not vote.
2. Attendees were encouraged to note their favorites during each day. At the end of the last demo, they chose their five favorites.
3. The exact written instructions given to attendees: “Please rate (the companies) on the basis of demo quality and potential impact of the innovation demoed.”
4. The five companies appearing on the highest percentage of submitted ballots were named “Best of Show.”
5. Go here for a list of previous Best of Show winners through 2014. Best of Show winners from our 2015 through 2020 conferences are below:
FinovateEurope 2015
FinovateSpring 2015
FinovateFall 2015
FinovateEurope 2016
FinovateSpring 2016
FinovateFall 2016
FinovateAsia 2016
FinovateEurope 2017
FinovateSpring 2017
FinovateFall 2017
FinovateAsia 2017
FinovateMiddleEast 2018
FinovateEurope 2018
FinovateSpring 2018
FinovateFall 2018
FinovateAsia 2018
FinovateAfrica 2018
FinovateEurope 2019
FinovateSpring 2019
FinovateFall 2019
FinovateAsia 2019
FinovateMiddleEast 2019

FinovateEurope 2020

FinovateFall 2020


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