LICUOS, the global B2B netting and payment platform, was announced a winner of the 2014 DEMOvation Challenge presented by Bank Innovation. The challenge was judged by five people who named seven companies winners of the challenge, and LICUOS was one of them:
- Laurence Berkowitz, Advisor (Israel), Bank Innovation
- Seth Kenvin, Advisor (San Francisco), Bank Innovation
- Sam Maule, Manager, Carlisle & Gallagher Consulting Group
- Philip Ryan, Editor, Bank Innovation
- Dominic Venturo, Chief Innovation Officer for Payments, US Bank
The judges were looking for startups launched within the last 24 months that possess unique intellectual property or business models, or are differentiated from other FinTech startups.
Bank Innovation 2014
Thanks to the award received, LICUOS will participate at Bank Innovation 2014 (Seattle, March 3-4), the annual event for executives and innovators to collaborate and share ideas to improve customer acquisition and retention through new products and strategies.
The DEMOvation Challenge is part of an overarching effort to make the Third Annual Bank Innovation event even more valuable than in previous years. LICUOS will present its technology to Banks, Credit Unions, Venture Capital Firms, Investment Banks, Start Ups and Technology Companies through a demo slot.
LICUOS also took part in 2013 in the FinovateSpring in San Francisco, Innotribe Startup Challenge in New York, the Thinking Digital Startup Competition in Newcastle, Next Bank – Innotribe Startup Disrupt contest in Madrid and SIBOS in Dubai introducing its innovative and technology for cash and working capital management.
LICUOS´ core patent pending technology enables companies, regardless of their size or industry, to compensate, pay and finance their commercial debts, allowing them to reduce their funding needs and their client´s credit risk exposure. Our algorithms search and provide the optimized netting, payment and funding proposals for companies in an efficient, automated and cost-effective way. Thus, businesses optimize their working capital and cash management activities and reduce their dependence on the banking system.
LICUOS will introduce the LICUOS Netting Hub and LICUOS SCF solutions. These solutions meet the needs of US Financial Institutions, Business Systems and B2B Payment Platforms:
- The Netting Hub, implemented as an API to the LICUOS Platform, allows our partners (Business Systems and B2B Payment Platforms) an easy integration, and a fast delivery of multilateral netting based services through their platform.
- The LICUOS SCF solution allows our Partner Banks to offer an innovative Supply Chain Finance solution to their customers (Businesses) that optimizes their working capital with a multi-tier approach, including suppliers at the Tier 2, Tier 3 level and beyond.
We’d like to thank Bank Innovation, the judges and the Bank Innovation 2014 Partners for making the event possible.
For further information about Bank Innovation 2014, please visit: http://bankinnovation.info/.
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