Finovate 2008 – The finance industry isn’t so bad after all…
Yesterday I attended Finovate 2008 and it was inspiring for anyone who’s been follo
wing the financial news lately. With all the talk of meltdowns and big companies going under and being bailed out, it was a refreshing change of pace to see all these start ups with exciting ideas and energy about how to change finance industry.
SmartHippo CEO George Favvas was among the 24 presenters of a 7 min. demo. George previewed some new features which will make their way to the SmartHippo web site later this month, and also took a minute to address the financial crisis and the role companies like SmartHippo can take in changing the financial industry to avoid future meltdowns. While he was the only presenter to overtly address the crisis, it was definitely an underlying theme and pressing topic at the event.
If you missed the show, the Banktastic blog did excellent coverage of the show, from reviews of the demos to interviews with the presenters, oh don’t forget to check out the interview with George…
Oh yea, if you were following SmartHippo on twitter, you would have had access to my live coverage of the event.
UPDATE:
Here’s some more coverage of Finovate:
- The Consumerist did a fantastic summary of the presenting companies, including SmartHippo, in this post…
- If you missed the conference, organizer NetBanker also did a series of posts about each of the presenters.
October 15th, 2008 at 8:58 am
Kelly,
Thanks for the props on our blog coverage! We had a great time covering Finovate, and we’re glad to come away with so much to share with those that were unable to attend. Thanks for the interview, George!
-Lisa Randolph
October 18th, 2008 at 1:49 am
Hi Kelly,
I wanted to say it was great meeting the SmartHippo team this week at Finovate (cherry on the top: your CEO speaks French !). Keep up the good job
October 20th, 2008 at 10:38 am
@Lisa no prob! Keep up the great work!
@Jean-Christophe Great meeting you too! Still very impressed you travelled from France for the show!
October 27th, 2008 at 3:28 am
Americans are struggling with the current economic crisis that has been brought on by careless mortgage lending. However, America is not the only country that is negatively affected by this economic calamity. The International Herald Tribune tells its readers that the credit crunch is being felt in Europe, too. Small businesses like Dominique Boudier’s printing company, outside of Paris, rely on credit with their suppliers to operate. Boudier’s creditors are reducing their offerings by half. This cut has been mandated by the suppliers’ credit insurance companies. Considering the 60-day lag time in which clients pay, Boudier’s business needs additional cash flow to compensate for this major shortfall. Because Boudier’s bank has its hands tied as well, Boudier fears the worst. Boudier’s bank, like many others throughout Europe, started to put its money to sleep with the European Central Bank instead of investing it in other banks and the economy as a whole. When banks began to fail and liquidity was disrupted, credit began to dry up. Similar to America’s Federal Reserve Bank, the European Central Bank uses a mechanism based on the ability to produce as much fiat money as necessary. Fiat-money currency, which is essentially credit money, loses worth as soon as the government declines to further guarantee its value. Inflation is on the rise. Many people believe that stronger private banking systems that make responsible decisions will eventually solve this problem. In the meantime, payday advance loans will be easier to get for those that need short-term assistance and can’t afford to wait for the faltering central banking system.
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