NEW YORK (TheStreet) -- This week in San Jose at the Finovate financial technology conference, banking giants like Wells Fargo (WFC) and Schwab (SCHW) will be joined by the likes of Moven, Hedgeable and Trizic, start-ups with unfamiliar names moving into a familiar business: helping people with their money.
Changes in technology have created an opportunity for small start-ups to attack the banking business, an industry with once-high barriers to entry. In some cases, the small becomes large, like the publicly-traded Lending Club (LC). Others are just getting started.
"If you want to see how technology is changing the future of financial services, you come to Finovate. There is nothing to compare," says Brad Leimer, Chief Innovation Officer of Banco Santander USA (SAN), in the conference's official marketing materials.
What can we expect to see announced at Finovate this year? Unlike Money 20/20, the annual event that takes place in Las Vegas, where CEO's of companies like American Express (AXP) make announcements, Finovate is more about the smaller start-ups that are disrupting traditional banks.
You will probably hear something from Moven, the global mobile bank start-up that's likely to pioneer areas where banks are slower to roll out features, along with, perhaps, a big partnership with a company like IBM (IBM) or Accenture (ACN). Also look for news from CEO Mike Kane of Hedgeable, a robo-advisor offering downside protection.