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Finovate and the future of financial startups

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I wasn’t at Finovate so I can’t be accused of drinking the Kool Aid.

But it seems to me that startups targeting the financial industry are not only interesting again, but downright exciting.

As the winners were announced, I couldn’t help but think that the long-anticipated changes people in the industry (and out) have been waiting for are a lot closer to being reality.

Ultimately, this is about the future of investing, startups, and the $11,000,000,000,000 question.

Couple of themes are emerging from the winner’s circle…

  1. automation: Firms like BillGuard provide automated, value-added services.  I mention this eventuality in my book, Tradestream — I think I call it “professional-grade automated service”. oFlows does this on the professional side.
  2. data: We see it with SigFig (Wikinvest‘s new incarnation which didn’t win) but also with Personal Capital‘s free tool set to help investors with portfolio analytics.
  3. personal finance: FamZoo‘s suite of services to help parents and children manage (and learn) about money complements LearnVest‘s platform of empowerment through financial tools and education.

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