Finovate, one of the world’s largest conferences showcasing the future of financial and banking technology, held its Asia session yesterday at Expo Singapore. The conference saw 35 companies showcasing the latest financial technologies to over 300 attendees. e27 was at Finovate Asia 2012 for the first half of the session and three startups caught our attention.


Founded back in 1999, Striata’s electronic delivery solutions dramatically increase customer adoption of paperless bills, statements, policies and other high-volume system generated documents. Striata utilizes the power of email to deliver their next generation interactive PDF eBill which can be read and paid on any email enabled device. On top of that, the PDF has dynamic sorting and allows you to see your billing history. They are currently serving clients such as Barclays, American Express, the National Grid as well as several other insurance clients.

Thoughts: We were blown away by the interactive PDF e statement where everything can be done on the PDF securely.


CurrencyFair solves the pain experienced by anyone needing to send money abroad. Expats, overseas homeowners and SMEs typically pay large currency spreads (up to 3%) and high international transfer fees per transaction. CurrencyFair helps by hosting a person-to-person marketplace where customers can negotiate their own exchange rates with other customers. This innovative platform cuts out the bank margins and shows you how much you can save on transactional fees if you use their platform. They have now over €1 milion exchanged on a daily basis, with over €200 million transacted to date, helping customers save more than €8 million so far.

Thoughts: There are three ways startups can succeed: solving a real problem, helping to cut cost or helping other people profit. CurrencyFair falls in at least two of these categories. CurrencyFair is currently looking to raise more equity investments and is looking to set up a physical presence in Singapore. CurrencyFair was also one of the four winners of Finovate Asia 2012 Best of Show.


Perfectsen is a Malaysia-based startup that has launched their new product, The Hook, at the Finovate. The Hook empowers banks to serve relevant ads to the right customer segment at the right time on their e-banking dashboard. It works by setting an ad space with just a single line of code. Its proprietary algorithm can then analyse a user’s account type, account balance, lifestyle, spending categories or financial goals to serve him or her relevant ads.

“The possibilities of the Hook are endless. Imagine when a user is saving for a house, he/she is automatically offered a home loan, or when one has low balance, an overdraft facility is offered, or if the user has a travelling lifestyle, they are offered a credit card promotion that has favourable air miles or points. The Hook is not meant to replace existing CRM systems but instead complement it.”

Thoughts: Perfectsen has secured Maybank, Malaysia’s largest financial services group, as one of their clients. The Hook is a smart way to monetize and target relevant ads to relevant customers. Perfectsen is angel invested and is also funded by the Malaysia Cradle Fund. Cofounder ST Chua recently also wrote a guest post for us on what it takes to build a successful financial tech startup.