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Top 10 Tech Companies to Watch

McAfee McAfee

Technology: Security/governance, risk and compliance

Why it’s one to watch: McAfee is creating tools that automate the detection of and response to threats — a major focus for financial institutions in the near future.

“A lot of the work is pulling information from across systems and applications and doing event capture and correlation of what’s going on in a bank’s environment right now.” — Dave Anderson, senior director and solutions manager

Netuitive Netuitive

Technology: Predictive analytics for IT

Why it’s one to watch: The firm is developing a platform that monitors performance management in the cloud and takes steps to prevent IT outages.

“Data centers are becoming increasingly virtualized, and banks are increasingly using cloud services.” — Nicola Sanna, CEO

Google Google

Technology: Digital payment software

Why it’s one to watch: Google has the technology and the partnerships to make its Google Wallet the most popular mobile payment platform in the U.S.

“At the end of the day from a consumer perspective, the best way to have a wallet product is make it something that’s natural and easy to think about and give people one place where they can manage their credit cards, like a physical wallet.” — Rob von Behren, co-founding engineer for Google Wallet

Cardlytics Cardlytics

Technology: Card transaction analytics

Why it’s one to watch: The company combines transaction marketing with daily deal couponing and online banking to help banks provide a new service to customers.

“We have access to each transaction for all customers across all bank payment products at a very detailed level, and this makes us very unique and it’s the asset upon which we base all innovation.” — Lynne Laube, president and COO

m-Via m-Via

Technology: Mobile payments and mobile banking for the underbanked.

Why it’s one to watch: This huge and fast-growing market is in dire need of convenient and affordable options. m-Via has lined up a strong set of merchant partners that includes MasterCard and 7-Eleven and its model, which makes transactions free to users, should be appealing to this population.

“Our goal is to kill the Western Union MoneyGram cash services model.” — Bill Barhydt, CEO

APT APT

Technology: Analytical testing

Why it’s one to watch: The technology tests the impact of new initiatives, providing a view of potential ROI beforehand.

“It’s been a tough banking environment, and there’s been an increase in focus on the mass affluent and how banks should successfully target those customers that have retained their profitability.” — Anthony Bruce, CEO

Open Solutions Open Solutions

Technology: Core banking and ancillary software

Why it’s one to watch: Its DNAappstore is the first core banking online marketplace to enable collaboration and innovation among financial services firms.

“Much like Facebook has made its development application toolset available for free, we want as many people to have access to this as possible.” — Louis Hernandez, CEO

Egnyte Egnyte

Technology: Cloud enabled file sharing, storage and backup

Why it’s one to watch: Egnyte’s hybrid cloud meets the banking industry’s need for data storage flexibility while retaining local control.

“Two years ago, when we didn’t offer a hybrid cloud solution and offered a pure public cloud, we saw a reluctance among financial institutions.” — Vineet Jain, cofounder and CEO

ActivePath ActivePath

Technology: Email security

Why it’s one to watch: ActivePath forges a direct path from an email to financial services products, limiting navigation and providing sorely needed security for banks’ communications with customers.

“It brings your email to life.” — Jason Schwartz, CFO

PayPal PayPal

Technology: Online and mobile payments

Why it’s one to watch: PayPal is building a versatile mobile wallet.

“The [digital] world has expanded to everyone having connectivity at every moment through mobile devices and this is an opportunity to bring value through the PayPal wallet.” — Sam Shrauger, vice president of global product and design

The ten most intriguiging technology companies in the financial services space.

Podcast
In this episode of Breaking Banks: American Banker's Innovator of the Year, John Hope Bryant of Operation Hope; Richard Brown and Charley Cooper of the blockchain consortium R3; and Ravi Srinivasan, who describes India's drastic move to stamp out cash.