Favorites from ... - Credit and Personal Finance Blog | Credit Karma

October 6th, 2011

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In light of yesterday?s news, we thought we?d pay tribute to one of technology?s most innovative spirits by highlighting some up and comers in the financial realm. So we?ve put together a short list of our favorite new ideas from FinovateFall 2011?s ?Best of Show.?

Founded in 2007, Finovate is a network of conferences that highlight the newest innovations in financial and banking technology. Held in New York, this year?s fall conference featured some promising and creative ideas that will undoubtedly change the face of financial technology.

Dynamics, payment technology

For the second year in a row, Dynamics, Inc was named as one of Finovate?s ?Best of Show?. This year, they introduced a new piece of payment technology to tackle problems surrounding the high cost in implementing secure EMV chips in credit cards.

Dynamic?s Chip and Choice? is a card designed with two chips; a secure embedded chip, and an exterior chip. By pressing a button, the imbedded chip writes a temporary code into the exposed chip, which allows a user to select different payment options. This flexibility in payment option can even be applied to payment terminals that do not support these types of transactions. This will significantly cut down on the cost of transitioning to updated terminals. With this technology consumers can easily adapt to the new wave of credit card security, which will hopefully help curb credit card fraud in the future.

LearnVest, financial tools for women

LearnVest is an innovative website dedicated to all things personal finance in a woman?s world. They offer a myriad of helpful financial planning tools that are both convenient and comprehensive.

Their ?Bootcamp? email programs provide educational content written by experts on everything from personal finance basics, to getting out of debt, and even tips on how to build your career. Another great tool is the ?My Money Center,? which helps users organize their accounts, while also creating budgets and spending goals. LearnVest also offers ?LV Courses? which are interactive classes designed to help users understand their finances and begin making investments for the future. Empowering women to take control of their finances with these easy to use tools will help build a new breed of savvier consumers.

Offermatic, free automatic rebates

Offermatic is often described as a combination of Mint.com and deal sites like Groupon. Founded in 2010, Offermatic is an online tool that hopes to revolutionize the way virtual coupons are distributed to consumers.

By securely monitoring credit or debit transactions, Offermatic is able to send highly targeted and exclusive offers to consumers based on their spending habits. From a business standpoint, this is an interesting idea in that it makes marketing more effective, which cuts down on the costs associated with offering rebates. Consumers can also benefit by receiving offers on things they were likely to buy in the first place. Everyone saves money, which makes everyone happy.

Looking for your next Finovate fix?

Finovate is a ground-breaking series of conferences that occur in New York City, San Francisco, as well as Europe. The next conference, FinovateEurope is scheduled for February 7th in London, followed by FinovateSpring in San Francisco in May 2012. Stay tuned to these upcoming conferences for another peak into the innovations that hope to impact the financial world.

Give credit where credit is due,

Danielle Belfatto, Karma Contributor

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Source: http://blog.creditkarma.com/credit-cards/favorites-from-finovatefall-2011/

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