LICUOS was selected to demo at FinovateSpring in San Francisco. FinovateSpring is a demo-based conference for innovative startups and established companies in the fields of banking and financial technology. This May’s presenters included some of the biggest names in financial-technology, including Fiserv, MoneyDesktop, FIS, and TSYS. Each company gets 7 minutes and there is no PowerPoint allowed. Eric Mattson, CEO of Finovate said “this was the biggest Finovate ever”.
LICUOS would like to thank The Finovate Group and its Partners for making the FinovateSpring event possible and the four contributors that covered all 72 demos. Thanks to Erin McCune, William Mills III, Phillip Ryan and David Penn.
You will find below and attached these contributions:
Finovate Blog: LICUOS Launches Secure, B2B Payables, Receivables Processing Solution by David Penn. http://finovate.com/2013/05/licuos-launches-secure-b2b-payables-receivables-processing-solution.html
LICUOS is demoing its core technology: a unique proprietary and patent-pending technology that enables an efficient and highly secure processing of accounts payable and receivable transactions, 24/7 and in real-time, to deliver the best financial optimization and user experience. Our algorithms automatically identify and generate the most convenient and efficient netting, payment and funding proposals. They manage all of the associated transactions that allow businesses to significantly reduce or eliminate their commercial debts. LICUOS gives businesses full control and visibility into the payment process and allows them to easily communicate and negotiate with their business partners.
Bank Innovation: Finovate Day 2 Morning Recap and Ratings by Philip Ryan. http://bankinnovation.net/2013/05/finovate-day-2-morning-recap/?utm_source=feedblitz&utm_medium=FeedBlitzEmail&utm_content=646536&utm_campaign=0
LICUOS is an open payment platform for businesses to reduce debt rather than just pay them. The company hails from Spain where they know a thing or two about corporate debt. Invoices are aggregated into the site and algorithms determine the optimal way to pay. The platform also allows payments netting services and 200 European companies have requested funding its lending platform. It’s not just about reducing fees and improving cashflow — the company is a wide-open payments platform.
- Cool Factor: 4/5
- I Want It: 3/5
- Revenue Potential: 3/5
Payments Views: Live Blogging Finovate Spring 2013 San Francisco by Erin McCune. http://paymentsviews.com/2013/05/14/live-blogging-finovate-spring-2013-san-francisco/?utm_source=feedblitz&utm_medium=FeedBlitzEmail&utm_content=646536&utm_campaign=0
- First payment platform to help businesses reduce debt, from Spain, where business debt is a huge issue
- Businesses from all industries, of all sizes
- Netting is core feature – enabling
- Payments – both traditional supplier payments, from buyer to its vendors, on Licuos open payment platform
- Funding – means of obtaining financing from non-banking third parties
- Dashboard shows over all position, drill down to individual invoices – integrated with ERP/Accounting or invoicing system
- Algorithmic suggestions of the best means to make payments
- Using netting to pay off accounts receivable to pay off accounts payable (what is owed to you to pay what you owe). Enables customers to manage cash flow more effectively
- Can fund payment via wire, or credit card, or gain supplier financing via a third party – corporate investors and family offices investing in fund
William Mills Agency Live Blog: FinovateSpring 2013 San Francisco by William Mills III. http://www.williammills.com/blog/live-blog-finovatespring-2013-day-two/?utm_source=feedblitz&utm_medium=FeedBlitzEmail&utm_content=646536&utm_campaign=0
From Spain, the global B2B payment platform. At first glance it looks like PayPal for businesses-to-businesss transactions. From their web site: LICUOS is the global B2B payment platform where businesses can compensate and pay their debts.
Web-based. Showing validated invoices in the system. “Open payment platform” I think it works and the demo looks good but who is the driver of using this system? The CFO of a SMB? How do they make money? I’m guessing subscriptions or white label from FI’s or other parters. “more than a payments platform”
This seems like something that Intuit or other company should resell as an option for QuickBooks.