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Wise stands out at Finovate 2019

American Banker recognized Wise as a one of the standout Fintechs at Finovate 2019

The 75 companies that gave seven-minute demos at the technology conference Finovate Fall in New York this week all had practical, well-thought-out products. Here are six companies that stood out, either for the strength of their ideas or the fulfillment of their vision, as well as a handful of other notable mentions, including two companies that help consumers confront uncomfortable realities about managing their finances as they age.

The only challenger bank at Finovate this year, Wise demonstrated its digital banking services for small-business owners. It pays 2% on its checking account. It offers an integrated card reader and real-time payments. Wise works with BBVA and Stripe. It plans to offer loans in the future.

"They have a good vision for not only basic banking services but also how they're going to look at adjacent services, like tax help and receivables management," said Susan French, head of product at BBVA Open Platform. "The secret to success is not just offering a banking account and card." Small businesses as well as gig-economy and contract workers could find it appealing to have all the services they need packaged together, she said.

Read the article on American Banker.