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Inaugural Event

l
September 16th, 2009
Our 
Sponsors
Formal Agenda
• Introduction to

• Remarks from Oded Zehavi
Remarks from Oded Zehavi

• Presentations from
Investors

Entrepreneurs

Industryy Professionals

Alumni

Who’s Here
“Our
Our goal is to bring together Israeli Startups, Industry Professionals, 
goal is to bring together Israeli Startups Industry Professionals
and Investors to foster innovation in the world of financial services”

Our Focus
The Motivation: Main Street Modernization
The Motivation: Wall Street Modernization
PROPERTY OF THE US GOVERNMENT
The Motivation: Reconfiguration of Wall Street
The Motivation: Israel’s History in FinTech
The Motivation: Recently Funded Startups
Defining the Space
Our Team
Our Plan

Speakers. Startups. Networking. Every 8 Weeks.

Website. Blog. Twitter. Facebook & LinkedIn Groups.

Affiliations with NetBanker. BarCampBank. MIT Forum. 
Join Us. Help Us. Support Us.
About our Keynote
Risk

Innovation and
risk
i k are "j
"joined
i d att
the hip”
Zero risk. Zero
innovation.

Innovation
Payment Systems

Regulation

Payment
Systems

Innovation
“II think that all great innovations are built upon
rejections”
Louis-Ferdinand Celine

18
Payment Systems

While innovation
generally leads to a
need
f new regulations
for l ti ...
There is very little doubt
that “insufficient
Regulation can be a
regulation” led to rampant
major innovation of risky
cause of innovation financial
products that resulted in
the current international
financial crisis
Mobile Payments
Mobile Banking Mobile Commerce
Mobile Payments
Mobile Payments
Mobile Payments
Mobile Payments
Currently We are headed to…

Banks

Retailers,
Merchants,
Public
transport
companies

MNOs

Customer
27
Mobile Payments
Mobile Payments
Mobile Payments
What is M-PESA ?What is M-PESA ?

• Money transfer by SMS


• Fast, Safe, and Easy to use
• Available to anyone
• noo need
eed for
o a bank
ba account
accou t
• no joining fee
• no monthly charges
• no minimum balance
• Pay As You Go charging model
08/05/07 – WBZ
M-PESA
Regulation

CBK has placed the maximum limit of KES 50,000 (EUR 489) per M‐Pesa account per day 
and a transaction limit of KES 35,000 (EUR 343) per day in order to mitigate against 
settlement risk. 

Also, the bank has proposed and formulated the enactment 
of the National Payment System Bill that will strengthen 
its mandate as an oversight body over all payment 
systems including money transfer. 
Mobile Payments
Mobile Payments

http://rbidocs.rbi.org.in/rdocs/PressRelease/PDFs/87064.pdf
Payment Method Landscape = Jungle
Alternative Payment Systems
PayPal’s history

1998 1999

www
www. .com
com
2000

2002
How PayPal Works

Funding source Buyer Seller Destination

Debit card
N
New seller
ll
account

account
Credit card
PayPal a

PayPal a
PayPal Bank Account
PayPal
Bank Account balance balance

Approved Countries Approved Countries


PayPal’s value proposition extends
internationally

41
PayPal Growth
Innovative Products
Mobile
Payment badge
Team lunch fund
Contribute to taco
Tuesdays!

Pay Later
Skype Send $

Plug in
Plug-in

43 Confidential and Proprietary


Nothing to Lose (or Risk Tolerance is a
Competitive Weapon)

• Different risk tolerance level for legal risk


when PayPal first launched, it was pretty clear that their product violated the
operating rules for Visa, Mastercard and American Express -- and violated

banking regulations is more than 40 different states

• Different risk tolerance level for financial risk


PayPal spent over $15M in marketing fees in 2000 and lost over $169 Million
that year.
ear

http://redeye.firstround.com/2009/03/nothing-to-lose-or-risk-tolerance-is-a-competitive-weapon.html
Regulation
The Pre Paid World
The Pre Paid World
Global Payouts
y Via Pre Paid Cards
How SEPA will change the payment market?
Tesco

Source: Finextra.com, July 2008.


Regulation and Innovation are intricately Linked

The links between regulation


Non‐bank payment
and innovation are
operators
ambiguous which adds to the
start with a lower cost base
complexity.
since they do not have to
comply with costly banking
They are ambiguous because
regulation imposed by the
regulation
l ti can h have b
both
th a
financial regulator.
positive and negative impact
on innovation outcomes and
policy
p y objectives.
j

So both sides of the equation need to change


Q&A
8 minute Company Presentations
September 2009

AcCells Confidential and Proprietary


Unbanked Case
video

AcCells Confidential and Proprietary www.accells.com


Mobile Payments 1.0  
can’t reach its full potential
because…
because
Mobile Payments
y 1.0 is based on two
technologies which are limiting factors

NFC SMS
Requires an upgraded mobile  Slow overall process
handset
Aimed exclusively for markets  Prone to errors and
in developed nations misidentifications 
Expensive (High rollout  Lack of proper security
p p y
CAPEX)
Lack of proper security Complexity
Requires new overall  Cost of direct transaction
infrastructure
Significant distance from 
reaching mass commercial 
market
k
AcCells’ Core Product
AcCells Core Product

Mobile IDentification Device

Authentication & Authorization Server
(off‐the‐shelf infrastructure)
AcCells’ Mobile Payments 2.0 
AcCells’ Mobile Payments 2 0
Delivers the Solution

AcCells

P f
Performance F ti
Functions

Simple Identification

Fast Authentication

Secure Authorization

Accurate Trigger Application

Low cost R4P2
The Potential Mobile Payments Market 
y
($B)

600 
500 
500 

390 
400 

294
294 
300 

200  182 

100  85 
39 

2008 2009 2010 2011 2012 2013
Source: Juniper Research, Feb 2009
Meet AcCells
Established in 2008…
CEO, Eduardo Shoval: serial entrepreneur for 20 years; 
founded and headed 6 high tech companies with total business
founded and headed 6 high tech companies with total business 
creation of hundreds of millions of dollars
Optibase Vcon Accord LaserComm BigBand Sirica

CTO, Dror Fixler, PhD: an expert in cellular networks, 
monitoring and intrusive systems; consultant for various 
telecom manufacturers and operators
EcTel MoniTel Bar‐Ilan U.

President, Eric Georgatos, with 15 years experience as 
corporate lawyer followed by a series of executive leadership
corporate lawyer, followed by a series of executive leadership 
roles in successful high‐tech startups
DLA Piper CIENA LaserComm Sirica
Key innovator: Avish Weiner, serial inventor with over 
i ih i i li ih
100 patents; over 9 years in the mobile payment field
Thank you

AcCells Confidential and Proprietary www.accells.com


e-Debit
e-Debit… P2P Banking
Connecting
Gen Y
2009

Slide 68 © 2007-2009 SeerGate Ltd. All Rights Reserved. Proprietary and Confidential. Do no copy or distribute without written permission.
The World is Changing…
Financial Services
REvolution

"Bankers must apply lessons from Apple …revolutionizing


service and delivery through integrated, personal technology”
Javelin, June 2009

By 2013, non-bank payment institutions will supplant banks for


online social networks. Gartner 2009
Customer control of the payment tool will be the saving grace
for banks. Javelin 2009
Banks must reach out to Gen Y consumers. American Banker, 2009
U.S. noncash P2P: checks amounting
g>$
$1 trillion. TowerGroup,p, 2009

Slide 69 © 2007-2009 SeerGate Ltd. All Rights Reserved. Proprietary and Confidential. Do no copy or distribute without written permission.
The Problem in Brief

Banks are Losingg Customer Interaction


and Brand Loyalty to players such as
y
PayPal, Bill Me Later and Amazon
Payments.

Gap between Bank Services and New


Generations

Slide 70 © 2007-2009 SeerGate Ltd. All Rights Reserved. Proprietary and Confidential. Do no copy or distribute without written permission.
The Solution
The Secured Lock™ e-Debit System enables P2P
Bank Payments… over Any Network
Tokenized e-Payment Solution.
“Pull” Payment: e-Invoice Presentment, P2P Payments
and ee-Commerce
Commerce based on the same principles.
principles
Real Identities: Payor & Payee are verified by their respective banks.
Real-Time “On-us” Authorization and Settlement.
Authorization only on Good Funds.

The Secured Lock™


Lock e-Debit System
ensures that Current and Future
Payment Services remain Bank products.

Slide 71 © 2007-2009 SeerGate Ltd. All Rights Reserved. Proprietary and Confidential. Do no copy or distribute without written permission.
Past & Current, time to Market

Credit Facebook
Cards
d 60 2 years
years
1920 1940 1960 1980 2000

Television Susan
90 years Internet Boyle
y 4
20 years weeks

The right
Th i ht solution
l ti addressing
dd i a reall needd ffor a
specific audience will spread in no time

Slide 72 © 2007-2009 SeerGate Ltd. All Rights Reserved. Proprietary and Confidential. Do no copy or distribute without written permission.
Contact Information

Eldad Aharoni
CEO
SeerGate Inc.
Inc SeerGate Ltd
Ltd.
400 Galleria Pkwy, Suite 1500 11 Hayetzira Street
Atlanta, GA 30339, USA Ra’anana, 43663 Israel
Phone: (678) 385.6840 Phone: +972 (9) 742.3595
F (678) 385.6501
Fax: 385 6501 F +972 (9) 742.3603
Fax: 742 3603

Please visit www.seergate.com for


more information

Slide 73 © 2007-2009 SeerGate Ltd. All Rights Reserved. Proprietary and Confidential. Do no copy or distribute without written permission.
© Trivnet Proprietary

Powering Global
Remittance &
Commerce Networks

Making Money
Mobile
Amit Mattatia
President & CEO
Trivnet

This document may be used in its complete form only and is solely for the use of Trivnet employees and authorized Trivnet channels or customers. The
material herein is proprietary to Trivnet Ltd., any unauthorized reproduction of any part thereof is strictly prohibited. The contents of this document are
believed to be accurate at the time of distribution. Trivnet reserves the right to alter this information at any time without notice. The primary distribution
media of this document is soft copy. It can be printed on a black and white laser printer using A4 size sheets.
WHAT DO YOU CARRY WITH YOU

WHEN YOU GO OUT?

© Trivnet Proprietary
Confidential
Imagine a World Where:

● Each consumer has an electronic


wallet accessible from the mobile
phone, the Web etc.
● People can perform payments,
purchase goods and transfer
balance to others and with a click
of a button
● The wallet can hold virtual cash,
prepaid cards and loyalty cards,
and can be linked to bank
accounts, telecom account etc.

© Trivnet Proprietary
Confidential
WHAT DO 85% OF THE PEOPLE CARRY

WITH THEM WHEN THEY GO OUT?

© Trivnet Proprietary
Confidential
85% of population unbanked – like the 10th largest GDP
Mobile phone penetration: 40% + and still growing fast
Mobile wallets 2012: 25% of 1.4 billion mobile phone users

$500 million in person


to person transfers
- potential of being
mobile?
M-commerce M-payments

$300 million in
commerce transactions
in 2012 M-banking
818 million mobile
banking users at 2011

© Trivnet Proprietary
Confidential
The Mobile Remittance Advantage
Mobile remittance is easier, faster, cheaper and safer than traditional remittance

Traditional Remittance Mobile Remittance


 Access via branch to cash in /out:  Access anywhere anytime via
must queue, must cash out. phone, no need to cash out.
 High remitted value, low  Any remitted value, high
frequency. frequency.
 High fees.  Lower fees.
 Sender must notify recipient.  Phone notification upon transfer.
 Single recipient.  Multiple recipients.
 Sender has no control on use of  Sender can remotely pay bills and
funds at the receiving end. top up recipient phones.

Mobile remittance further expands the remittance market by making mobile remittance an attractive option
to those who have never considered traditional remittance

© Trivnet Proprietary
Confidential
The Mobile Money Eco System
• Expand into new service areas • Interact anywhere, anytime
• Gain traffic, share revenues • No need to carry cash
• Maximize distribution network • Instant remittance at low costs
• Increase loyalty • Convenience, security

Mobile End
Operators
Trivnet connects
Users
the major players
in the mobile Trivnet
ecosystem and
creates true Platform
m-wallet
functionality
Merchants Banks &
& Retailers FI’s

• Benefit from mobile POS • FX gains, retain cash (float)


• Enter financial services • Facilitate settlements
• Gain customer information • Increase customer base
• Increase loyalty and • Launch new services
customer base

© Trivnet Proprietary
Confidential
Barriers

● Regulations – changing positively over time

● User adoption – greater in emerging markets (prepaid habits)

● Telecom operators taking initiative and investing

● The need to put together an eco system incl. banking partner

● It seems easy to implement, but you really need a top notch

system and multi-disciplinary expertise to get it right

© Trivnet Proprietary
Confidential
8
About Trivnet
● Leading provider of mobile financial service solutions to operators

● Enabling mobile payments & remittance, commerce and banking

● Robust, secure and scalable carrier grade platform

● Serving both developed and developing markets

● Deployments in Europe, Asia, Latin America, Middle East

● Feature rich ecosystems built with our technology and expertise

● Strategic telecom and banking partnerships

Trivnet will Share the Value of Leading MFS Eco Systems Around the World

© Trivnet Proprietary
Confidential
9
THANK
YOU

© Trivnet Proprietary
Confidential
Return the Badges
Shana Tova!