Finovate Europe is usually a place to find some of the sector’s most exciting start-ups and this year was no different. Anika Sidhika and Patrick Brusnahan look at some of the highlights

Merlin Investor

Merlin Investor is a multi-asset learning, planning, and monitoring tool for individual investing plans. The platform gives retail traders a more thorough understanding of their holdings and intends to inform investors, create strategies, and track holdings across equities, cryptocurrencies, NFTs, real estate, and more.

Guido Petrelli, CEO of Merlin Investor

  • Who is your target audience?

Our target audience are mainly Gen-Z and Millennials retail investors who are already using one or more trading platforms to invest on their own. Also, we focus primarily on US, UK and the European markets because when we studied the market we found out that such kind of retail investors are more present in these countries, even though we also see new markets like the middle east and the south pacific region increasing their relevance.

  • What’s the biggest strength of your company?

I believe the main strength our company is to be the first to offer a one of a kind and easy to use product that can empower the new generation of retail investors, regardless of their knowledge or experience, to become the one and only master of their own financial future by approaching investing as experts do, and not as some sort of gambling that can instead lead to catastrophic losses through markets ups and downs which are historically the standard. To be a key part of the democratization process which is happening today in the investing sector is also something we are proud of and motivating our team to do better everyday, and to deeply believe in our mission and what we do is also another big strength of our company.

  • what direction will Merlin Investor take in the future?

We will continue pushing on our mission to democratize investment strategies for all through continuous product improvements, customers education around investing and increase in market presence, with the goal to make our technology accessible to any retail investor globally, either directly and through partnerships with trading platforms and financial institutions.

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YourJuno

YourJuno is a London-based organisation founded in 2020 by two sisters, Margot, and Alexia de Broglie, with the objective of fostering financial empowerment for women and non-binary people. With its headquarters in London, YourJuno has launched an app on the Apple App Store. The software allows users to learn about any financial concern in a matter of minutes. The courses cover a wide range of topics, including investing, retirement planning, and home buying. The video seminars are delivered by financial experts who reflect the strength of the online community.

3 Key features of YourJuno

  • Cost effective
  • Collects data and how a customer can finance
  • Educating customers, promoting financial inclusion

Refine Intelligence

Refine Intelligence is focused on fighting false positives in financial crime investigation and compliance, which comprise over 90% of anti-money laundering alerts. The company’s solution helps banks and financial institutions to embrace the realities of digitization and stay connected to customers by understanding their life stories.

Uri Rivner, Co-Founder of Refine Intelligence

  • Why start Refine Intelligence?

If you’re a bank, your Anti Money Laundering team is massive and needs to grow each year to cope with growing alert volume and regulation. Banks in North America and the UK invest $80 billion per year just in operating those teams. But the AML team can have a frustrating daily routine: nearly all the alerts they’re investigating end up being totally legit activities done by the customer. Years ago, that wasn’t an issue as banking operated face to face, and bankers knew each customer’s unfolding life events. But now with digital transformation, banks have lost that super-power. At Refine intelligence, our mission is to help banks regain that super-power, and discover the genuine life stories of the customer, so the anomalies they create from time to time can be green flagged.

Fyndoo

Fyndoo is a cloud-based end-to-end SaaS lending platform. The modular platform, as a lender, serves customers at every level of the financing process. Fyndoo is a no-code platform that allows financial institutions to model their exclusivity. With Fyndoo arrangements, starting a new lending business or expanding into a new market segment is extremely straightforward and cost-effective.

Joris Nijboer, Head of Product

  • What are the biggest challenges your company is facing today? that other firms may not?

We’ve made considerable progress in ESG technology – for example in impact-based pricing and an ESG Policy Mixpanel. We believe this technology would really help banks influence their customers to change for positive impact at scale. Our challenge is that we feel that banks are not eager enough to adopt these new technologies.

  • How do you plan to overcome these challenges?

We talk to many banks, large and small, and aim to start pilot projects. We aim to inspire, educate, and listen to banks to find solutions that work for them.

AutoRek

As a flagship product, AutoRek is a self-contained financial and operational reconciliation solution that uses intelligent automation to replace manual procedures, conduct matching, and discover gaps. The platform’s precise MI insights and highly customisable dashboards enable the end user to make data-driven decisions with confidence.

More than 100 businesses in the asset management, payments, banking, and insurance industries use AutoRek.

3 key features of AutoRek

  • Highlight issues
  • Increase in control data
  • Stability with compliance regulation