Temenos announces that KERV, the contactless payment ring, has won the first Innovation Jam final held by Temenos, the software specialist for banking and finance, at its annual Temenos Community Forum.

KERV brings fashion to a wearable contactless payment solution. A payment ring, KERV allows wearers to make payments anywhere in the world displaying the contactless payment symbol. There is no need for a card, PIN, bank account or smartphone. Initially working on a pre-payment basis, the company is also developing a token version. KERV can also be used to share data and access the home and office.

Phil Campbell, founder and CEO, said: “We are so excited to win and TCF has been an invaluable opportunity to be introduced to our target audience with the added benefit that they are already qualified leads. Our next step is to work with Temenos on how best to move forward.”

KERV, which received 25.4% of the votes at the TCF event attended by 1,200 delegates, is already available on the Temenos MarketPlace, a forum that showcases solutions that are guaranteed to work with Temenos’ core banking platform.

Second place went to FacePhi, a Spanish listed company that offers facial recognition to authenticate and identify users. Already adopted by almost ten banks, Selphi saves money, improves security and helps banks builds loyalty. The camera on a mobile phone is used to take a selfie, which is then used to interact with a bank’s mobile application.

This year’s three day TCF was held in Barcelona and the Innovation Jam finalists were selected at four regional heats in Miami, Singapore, Dubai andLondon. Voted for by peers, banks, analysts and fintech commentators, the top two from each heat were invited to Barcelona to pitch. A total of 12 pitched to the audience, each limited to a seven minute slot.

Ben Robinson, chief marketing and strategy manager at Temenos, said: “There were so many great ideas and they all have the potential to add revenues and create value for banks working in a really collaborative way. It’s about helping create an ecosystem where great ideas can quickly get to market, benefitting everyone involved – the Jammers, the banks, and the banks’ customers.”