Finovate Europe 2019 Take-Aways

Author: Krisztina Borsi (

Finovate has been a prestigious event of showcasing the latest innovations in banking and technology for 12 years now. This year they started the Finovate event series with Finovate Europe, which took place in London. During the event 64 pre-selected companies presented their inventions live (neither videos nor slides were allowed) for more than 1200 attendees. The presenters had only 7 minutes to give an unfiltered insight into their innovative technologies to the audience.

Every year has its most popular topics: while in 2018 they were blockchain technology and artificial intelligence, in 2019 open banking, authentication and digital customer journey were in focus. It is clear that PSD2 is a turning point in the banking area and provides new opportunities for the fintech world. We have seen many different approaches to the topic. Some of the presenting companies specialised in open banking platform and showed how they provide the possibility for clients to get connections to bank accounts, balances and made it quicker to initiate payments or access other financial services.

With the spread of mobile banking applications, which enables customers to manage their finances anywhere, it became more and more important to make these solutions safe with user authentication. During the demo-days of Finovate, we witnessed two main interpretations of solutions for this problem. While some companies presented ID recognition solution with OCR technology, others made it only a step of a multistage identification process. Among others, we have seen solutions based on face (recognition)matching, verification of voice and uploaded signatures or utility bills.

In the digital age, it has become really important to foster relationships between banks and clients who are accustomed to using digital solutions in their everyday life. Ensuring seamless customer experience can be a real advantage for financial service providers these days. Some of the presenting companies focused on digital-first clients’ needs and interpreted ideas from popular applications among youngsters, such as tinder or messenger in their wealth management or onboarding solutions. Chatbots also reached a new level of improvement. A best of show-winner company came up with an intelligent virtual assistant, who is able to answer phone calls.

For us the show was a real success:
This year we presented the ApPello Lending Helper which not only accelerates the lending process but gives customers a frictionless/smooth user experience. This innovative tool is an easily downloadable browser plug-in for existing customers as well as prospects. With this extension, the financial service provider can reach new customers without dealing with third-party traders (real estate agency sites, online marketplaces, etc.). The tool is capable to identify the price and general details of property or goods and offer an available loan of the Bank’s product portfolio based on not only the price but other configurable setup parameters. To learn more about our product, please see our video.

Finovate Europe was a great opportunity for everyone to get an insight into cutting-edge innovations in this fast-growing, ever-changing fintech environment.


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