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Finovate 2023 Recap: Showcasing the Future of Fintech in New York

Last month, we returned to New York for FinovateFall – the world’s premier fintech showcase for cutting-edge banking and financial technology that will shape the future of fintech innovation.

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As we’re gearing up for another fintech event in New York City, we thought we’d tell you how our previous event went. Last month, we joined over 100 fintech innovators at the world’s premier showcase for cutting-edge banking and financial technology – FinovateFall. Held at The Marriott Marquis Times Square in New York, the conference provided a unique opportunity to connect with other fintech startups and scaleups as well as 2,000+ senior decision-makers, including 1000+ from banks and other financial institutions. 

With more than 70 live demos, the event was buzzing with fintech innovation. And it goes without saying, we were thrilled to demonstrate how BforeAI is using predictive security to fight financial crime and online fraud.

Dive in as we recount our Finovate experience, new connections, and key takeaways.


Introducing Predictive Security and AI to Financial Services

BforeAI co-founder and CEO, Luigi Lenguito, said he was most interested in the intimate, interactive component of the event, and how it set the stage to learn more about fintech fraud challenges and, of course, introduce more fintech leaders to predictive security and our PreCrime solutions. “I wanted to build the first stages of [new] relationships [with banking and finance leaders] by using the event’s app to network and schedule introductory meetings”, he said. “We could even chat and see all the other activities going on at the same time.”

The 3-day event was relatively small so participants were able to take initial short meetings and arrange follow-up calls and meetings for a later time – unlike larger events where networking is often treated like speed dating. “The objective of the introductory meetings was to learn about their [banking and financial institution leaders] roles, the challenges they’re facing, how they’re seeing those challenges, and then, kind of a five minute speech to see if they connect to our solution,” continued Lenguito.

While we found it deeply meaningful to engage with other companies, discuss market shifts, and listen to decision-makers on what products and services they are seeking, we most enjoyed learning about the intricate interconnections between various financial sectors and the technologies they employ. For example, there is a common myth that traditional banks and credit unions are sworn enemies of fintech. However, the banks and credit unions we talked to confirmed partnering with fintech startups can prove valuable.

Fintech encompasses a wide range of activities including consumer banking and investing, various payment methods, budgeting apps, market data feeds, and even compliance management. It’s a whole ecosystem that needs to work together. And it’s steadily evolving. Ultimately, we want to improve anti-fraud efforts and reduce avoidable losses with predictive security solutions that can identify and prevent fraudulent activity.


70+ Fintech Product Demos and Unlimited 1:1 Conversations

The event included a number of special activities for startups. So even if you weren’t included in the 70+ demos happening on the main stage, and didn’t have a booth, you were still very visible and able to demonstrate your product. In fact, there was a cocktail area that only included startups. This was a chance to have 1:1 sessions that went beyond product pitches and into personally tailored examples that fit specific needs.

As a result of these personal demos and meetings, we already have follow-up meetings scheduled with venture capitalists and credit unions. So we expect to see ROI from this event from just a couple of short conversations.

Lenguito’s demos typically include:

→ why we need proactive cybersecurity

→ how this relates to weather forecasting

→ what prediction can do for your peace of mind

→ when we’re able to predict attacks and stop them

→ who benefits from our solution

→ why we intend to expand our company

If you want to learn more, we’re happy to offer a free, personal demo at your convenience.


Paris in New York: An Evening of Wine, Cheese, and AI

One of the highlights of our Finovate experience was our very own “Paris in New York” event. While not officially part of Finovate, it was a wonderful side-event that allowed us to fuse our technology’s prowess with a touch of French charm in The Big Apple.

We engaged with industry leaders against a backdrop of some of New York’s finest cheeses and select French wines. The conversations revolved around the potential of AI in financial services and the emerging challenges

The consensus? A strong appetite for understanding how AI can be a formidable ally in the fight against financial crime.



In Conclusion

Participating in Finovate 2023 not only solidified our belief in predictive security as a significant player in the financial industry’s future, but also opened doors to valuable partnerships and collaborations.

We offer a heartfelt thank you to the Finovate team for orchestrating such a great conference filled with many of the brightest fintech minds. We remain committed to our vision of harnessing AI to ensure a fortified financial landscape.


For more insights on how BforeAI can help protect your organization from online fraud and financial crime, contact us or book a demo to see our predictive solutions first hand.