Most Influential Startup Trend Benders In FinTech
Financial Technology (FinTech) has its influence in every sectors, globally, mandating digitalization of services and real-time processing of requirements. Traditional modes of banking or transactional activities experienced a major shift amid such pandemic requiring more digital opportunities and services provided, as preferred by the common people. Startups in such a sector transforms the existing norms leading to change in views and requirements with the ease of availability of the basket of services at one click.
In recent technological advancements as per Machine Learning improvements and integration of AI to services, vast acquisition of market growth is led by the IT companies supporting such transformational shift for the financial institutions. Innovating as a Financial Startup in modernizing digitalization and transforming into a famed conventional daily requirement one-stop solution, many organizations have paved its stairs to being a market leader.
FIVE STARTUPS WITH HIGH POTENTIAL
Possible Finance Inc.
A financial credit based company founded in 2017, started with a goal to help financing those in need of loans however are unable to acquire such due to bad credit scores. Credit/ loans are the most demanded financial product in severe situations of immediate need initiating mental distress and disbalancing the financial stability for acquiring costly debts. Possible Finance Inc. helps in such situations wherein an individual can come by the terms of longer tenure repayment and upto $500 of borrowing even with bad credit scores including a perk - providing an opportunity to scale up the credit scores through reliable payment on time. As per the latest news, the company was in a difficult phase due to the pandemic breakdown as they struck hard on fundraising, however New York based Union Square Ventures led $11 Million for Possible Finance Inc. with a closed deal over Zoom video conferencing.
Flybits
As banking is a crucial sector of an economy, transformations and reinventing opportunities upscale the customer experience and rescale its reach amid such pandemic. Instilled with such motive, Flybits, founded in 2013, provide "Turnkey experiences for every customer" initiating solutions as in - Credit cards, Everyday banking, Home buying, Lending, Financial wellness, Loyalty, Wealth, and others - all such in mobile experience expanding relationship between individuals and financial institutions. End to end solutions of integrating data and analytics through intelligent UI designs, Flybits ensures digital utilization of services in maximising reach of financial institutions.
Signzy
AI has unveiled its potential in every fields from data management to real-time services easing out the complexity of tasks through cognitive intelligence. Signzy, innovating the use of Artificial Intelligence in banking solutions requiring automation of services and providing satisfying experience of customers. Co-Founder, Ankit Ratan has stated that,
The ongoing pandemic has not only upended the pace of digitalization in the financial services space but has also led to increased demand for no-contact solutions. The decisions that used to need years to finalize are now being closed in just a quarter. We have worked hard to keep up with the growing demand.
Tavaga
Investment being a vital portion of financial planning of an individual, requires decision making for a specific goal based achievement leading to maximisation of returns and generating wealth through a strategic accumulation phase. Tavaga delivers a robotic platform integrated with Artificial Intelligence, for investment management inclusive of goal based investing advise in a simplest way of tracking. Safety as a motive, it partners with well known brands as - SBI, Nippon India, Kotak, Motilal Oswal - ensuring stability of investment through a balanced portfolio of assets. With advanced potential, Tavaga has the most of it with latest technological advancements eliminating the risk of accuracy measurement as it relies on machine learning modules of decision making and service facilities.
CASHe
Another social lending company through which availability for loans are made easy apart from banks or other financial institutions, wherein you require to fulfil the KYC requirements and eligible amount could be borrowed within seconds. The major turnkeyof CASHe exists with the inclusion of machine learning through which the lending experience gets improved and customized meeting the requirements, promoting Indian financial inclusion. Most impacted due to the COVID pandemic, essentialise the run of cash shortages on emergency leading to more economical distress and banking pressure. Detaching such financial requirements, such startups plays a vital role in financial inclusion revitalising the unreached sections of the society most affected.