The second day of FinovateEurope 2019, 13 February 2019, was reserved for live demos of groundbreaking applications. We presented our financial simulation app TimeWarp. It graphically depicts the impact of financial decisions, helping bank customers to manage their money prudently. More than 1,500 industry professionals voted our innovation a “Best of Show” product. With this year’s success, we have brought home the third glass trophy in a row from FinovateEurope.
Realised open banking: Our TimeWarp app makes it possible to experience the user benefit in everyday life when financial institutions and third-party providers exchange their data via interfaces in the interests of the customer. Thanks to the advanced business intelligence technology, users can view their bank accounts, insurances, savings and loans from various service providers in a single application and use this overview to make informed decisions. This is made particularly easy for them with descriptive simulations. Unlike traditional spreadsheet representations, they can see financial scope at a glance and no longer have to work their way through columns of figures.
Fintechs present innovative banking apps
TimeWarp premiered at FinovateEurope, where around 1,500 banking technology specialists met this week in London. More than 60 Fintechs showed their latest applications in exactly seven-minute live demos. The challenge: the software solutions must speak for themselves – accompanying slides and videos are a no-no! This is completely in line with our colleagues from the WowLab innovation department. They only release prototypes for launch if they function intuitively and not only inspire techies. TimeWarp combines personal budgeting with an innovative user concept. Bank customers can run through various scenarios before deciding on an issue or other financial transaction.
User Experience: Time travel instead of planning assistant
Applications like these enable banks to score with an outstanding user experience. They no longer offer their customers a budget planning assistant, but a journey through time. In science fiction, time warps allow people to take a trip into the future as a trial to see how planned actions would affect them. Fantasy and emotion make it easier to realistically assess the impact of financial transactions and handle one’s own financial resources responsibly. We don’t have to be futurologists to see that the journey in banking is heading in this direction.
Learn more about the banking of the future in our white paper. Click here to download.