How to Maximize Finovate

What is Finovate? Why and how is it different from other events? How do we maximize event participation? What do I need to know to have a great Finovate demo?

Let’s review how Finovate started. Jim Brune, former fintech newsletter blog publisher, partnered with Eric Mattson, who specialized in events, and brainstormed ways they could create a financial industry event unlike any other.

Almost 20 years ago, there was the DEMO Conference in Arizona. It may still exist, but then it was all about showcasing new, innovative and cool technologies through live, short-form demonstrations, usually around six or seven minutes long, and it was for all kinds of technology-based inventions.

What made this conference interesting was the standard: you could not show slides, use videos or give traditional PowerPoint presentations. You had to show your product working in real time, whether it was hardware, software, or what came later mobile applications. Individuals gathered from across the country to showcase their technology, and it was clear that this event went beyond just finance.

Brune and Mattson decided to host the very first live tech demo event in the cities that were known to have the most media outlets and influence about 17 years ago. The plan was to start in New York City, home to the Financial Times, Wall Street Journal, New York Times, Consumer Reports, and more. If it succeeded, they would then host in the San Francisco Bay area to attract the San Francisco and Silicon Valley companies and media like Engaget, TechCrunch and Vox.

This is how Finovate got its start, and I attended the very first one. It was so successful that I had to sit in the overflow room and watch the demos on a big screen because they'd oversold the conference. Before we had iPhones, the innovations were mostly computer-based applications for banking and mortgage lending. Think “early Salesforce-style tools for finance”. Overtime, people and companies continued advancing their technology demos, including what I remember as a “headless ATM” that let users withdraw cash simply by walking up with a mobile phone, no keypad, no screen. Another highlight was Fiserv’s demo using Google Glass, where you could use special eyeglasses and blink to make a payment. It was voice-activated and ahead of its time. Now we are starting to see consumer adoption of eyeglasses as a part of their technology experience, especially from META.

Over the years, Finovate evolved to showcasing smartphone apps (both Apple and Android) and web-based software. As demos continued advancing, individuals were showing both desktop and mobile versions of their technologies, providing a full view of their innovations across platforms. I have seen technologies debut there that later went public and became worth billions of dollars, because Finovate gave them a platform to showcase technology no one else had ever seen.

Today, they’ve adopted a pattern of hosting Finovate Fall in New York, Finovate Spring on the West Coast, and Finovate Europe (usually held in London but it has been held in Germany). They have also hosted a Finovate Asia and a Finovate Africa. But the two most important Finovate events are Fall and Spring. Finovate’s parent company, Informa, acquired Money 2020 making both events part of the INFORMA events group.

The Finovate staff is relatively small and relies on people and resources from their parent company Informa. Greg Palmer has been the host for more than a decade, and this event consists of two days of demos and a day of sessions with different moderators and speakers. They also have private banking and credit union only events the day before. The true cornerstone of Finovate is the two days of demos.

At last year’s Finovate Fall in New York City, I saw 64 demos and started doing interviews of key attendees. Later, I decided to step in front of the camera and became part of their on-camera crew. At Finovate, I work alongside their team’s high-quality video production crew out of London that is state of the art.

Every company selected to demo at Finovate receives personalized one-on-one coaching from Greg Palmer to fine-tune their presentation and ensure it resonates with the audience. Over the years, I have coached as well both for clients and for presenters who want feedback. They’ll run through their demos with me, and I work with them to sharpen their delivery skills, highlight what works, and help tweak what doesn’t.

While it is true that past performance does not guarantee future wins, last fall two of the six Best in Show winners I had coached. Recently, one of our clients came to Atlanta for me to personally coach him, although most of these sessions are typically conducted via Zoom.

What makes a winning Finovate demo? Finovate can and should be a success for any organization demoing, whether they win Best in Show or not. But first, let's talk about the difference between Best in Show and The Finovate Awards. Best in Show is voted on by the audience members.

At the end of each day, Finovate encourages attendees to vote on the best demos and concluding the second day at the reception, they announce the winners. They then present the winners with nice crystal trophies. Remember, just because someone doesn't win a Best in Show doesn't mean Finovate was a failure – it simply may not have been their time. Many times, a number of organizations present at Finovate and it is not until their second or third time they finally win Best in Show.

The Finovate Awards are totally separate, and I have been a Finovate Awards judge since its inception six years ago. Organizations submit their award applications and a small, select group of Fintech experts rank the applications on merit and these awards are announced in conjunction with Finovate Fall.

The Finovate experience forum for the client and what that looks like.

Typically, demoing companies travel to New York a few days ahead of Finovate for dress rehearsal in the main stage room to work with the AV crew to prepare their demonstration material. I always recommend that two people be on stage at these events, one behind the podium driving the demo, and the other front of the demo, engaging the audience. What most organizations don't realize is this is not a sales demo for prospects like they're used to doing every day.

The experience is like being a celebrity comedian or entertainer. Let me ask you this: Can you name a famous comedian that you like?

We can even use someone that doesn't have a show or host, somebody that might appear on the Stephen Colbert show; Jim Gaffigan, John Mulaney, or someone similar. The key takeaway is that the demos are the content while the presenters are the entertainment. Not realizing this, maybe 40% of presenters are turned down when applying to Finovate Fall because their applications or pitches aren’t compelling or interesting enough. You are the entertainment at this event.

When Jerry Seinfeld did stand-up on The Tonight Show with Johnny Carson, those few minutes skyrocketed his career. He had just a sliver of time to perform and he prepared and practiced non-stop. He went to comedy clubs, and whatever else he could to prepare to knock this once-in-a-lifetime opportunity out of the park.

That same energy and purpose should drive every demo presenter, entertaining and wowing the audience instead of trying to sell them. The most memorable presenters, and most of the winners, are the ones who actually connect with the audience. They’re passionate about their topic and tell the audience things they didn’t already know. They are solving problems and creating opportunities. They are, in their own ways, evangelists. Whether in the style of Billy Graham or a fire and brimstone preacher, they make the audience say, “I need to know more.”

When you hit that stage, remember you are the entertainment. That’s why I always recommend watching Queen’s iconic 1985 Live Aid concert at Wembley Stadium. It’s roughly 20 minutes, but Freddie Mercury had 70,000 people in the palm of his hand. That’s what great demo’s do. They engage and captivate, not inform or sell their product.

Instead of focusing on presenting in a similar fashion as you would to a group of bankers or credit union execs, you must realize there are more than 800 people in these crowds across industries. For example, analysts, consultants, regulators, and media are present, not just bankers and credit union leaders. The challenge then becomes knowing how to work the entire room and not just the front. Reach the back, connect with the middle, and the front will follow.

One unique demo that I saw at Finovate was from a company that wanted to show the power of geo location tools. They used a drone to create a geo fence around the audience, which then gave only them access to a certain mobile application. Very innovative. Very memorable. One more example, particularly one that won Best in Show, was from the very first debut of Apple Watch technology for banking. Again, truly innovative and memorable.

Now let's talk more about the Finovate experience and what to expect. After arriving early for rehearsals, which prepare you for the taped live demo session on you presentation day, you are provided with material you will use during your session (a presenter’s podium, a stand displaying your company name, a large presentation screen and laptop). Do keep in mind that it is encouraged for all presenters to review the taped videos from previous years posted on Finovate’s website and YouTube, especially of the winners for Best in Show for reference. One that stood out to me was for a presentation demo entitled Bits of Stock, where they offered unique technology that no one else did.

At the end of the day, on your demo day (either day one or day two), the presenter’s podiums are returned to their standard places. This doesn’t mean that you should leave with it. It just means you'll need to work the room and network or schedule meetings or simply be present. Some people leave after their demo day, but I don't recommend that.

If you’re demoing on day two, you should absolutely stay for the award ceremony that afternoon and even encourage others to remain for day three. The final day features keynotes, moderators, and speakers on the main stage. Many pay to speak, while some are paid speakers. For example, I watched an excellent demo given by an ex-FBI agent presenting on cybercrime and an AI expert speak about AI trends in the workplace.

Demo days seamlessly blend these paid speakers and those who pay to speak. Typically, those who pay to speak also demo, and they often invest heavily to share their insight. One company of note spent more than $100,000 to demo and to have 20-minute speaker slots on the main stage each day. Bottom line: Finovate offers far more opportunities than just demos. There is a wealth of opportunity to connect, present, and leave an impact.

When Informa acquired the company, they expanded the exhibit space to welcome non-demoing companies and businesses that simply wanted visibility at Finovate. Roughly half of the exhibit hall will be companies that just exhibit. Occasionally, demoing companies opt for buying additional booth space to maximize networking over the entire three days. But this is normally not the case.

One example: a former client, Zoot Enterprises, exhibited for three days at Finovate Spring without demoing. Their goal was to increase brand visibility and awareness while gaining an understanding of the event before committing to a demo presentation. This approach has worked well. Additionally, beyond demos, Finovate offers various breakout sessions covering topics like women in tech and financial inclusion among many others. These are often held on day three,

It's important for you to do your research on Finovate and Finovate demos. Do your homework to better understand what I call the Finovate ecosystem: Finovate’s audience, what makes Finovate unique and the complete Finovate experience. When it’s your time to demo, make the stage your own. Remember that you are the Johnny Cash, Willie Nelson, Billy Graham or Freddie Mercury of the show. Be passionate. Be prepared. On stage don’t read any notes and memorize everything you want to say. I have strategies to help with that if needed.

Keep an eye on the timer that is now displayed for presenters to see (7 minutes is the allotted amount of demo time). If you go over your time, you’ll hear the dreaded gong. Your microphone will be muted, and your time is over. It’s better to end 15 seconds early than to get the gong.

Finovate provides a platform for future millionaires; there are few other business examples that stand out today. One example is from years ago when I attended a Finovate Conference in Silicon Valley and met this young man. We made small talk, and he shared that he was the CEO of a small company, with about five employees at the time. asked him, “What is the name of your company?” To which he replied, “Credit Karma.” I told him I was interested in seeing his demo later that day. Now Credit Karma has grown to almost a billion-dollar company, sold to Intuit.

Another example is for a company called Prosper, started by Chris Larson. His company also sold, and he is a billionaire today because of it. Of course, not every company with a great idea makes it big, but you always see intriguing and innovative demos at Finovate, no matter which conference you attend.

There was also a popular company that once demoed a credit card with a built-in battery and chip. With the push of a button, the card could switch between a VISA from one Bank, a MasterCard from another, or even a debit card. It was a fascinating concept that let users toggle between accounts on a single, physical card. Of course, much of that innovation has since been disrupted by mobile wallets and other modern payment technologies but my point remains the same – Finovate is the place to be for innovative, passionate, and creative leaders.