Finovate and the future of financial startups

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…
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Review of virtual family bank, FamZoo

NY Times had a short piece on FamZoo, a virtual family bank.

The site allows families to set up “Bank Parents” using virtual savings and spending accounts to help kids learn and understand about money.  Parents can even link checklists to allowances to assure kids are pulling their weight for chores.

There is some nifty functionality that integrates a mobile offering, as well.  Check out the video above.  The site has a free trial right now, moving to a premium version of $5.99/mo shortly after.