Adoption of AI and data analytics solutions by financial institutions has exploded over the last two years accelerated by technological advancements, increased use of digital channels, and shifting regulatory frameworks. Additionally, the potential cost savings for banks from AI applications is estimated to reach $447bn over the next 12 months

As a result, the number of tech providers employing AI or data solutions to solve challenges in areas such as banking, insurance, customer experience, investment & trading and compliance has skyrocketed, making the selection process for this year’s AIFinTech100 list extremely competitive as the finalists were selected by a panel of industry experts and analysts based on research produced by FinTech Global on over 2,000 FinTech companies.

FinTech Global director Richard Sachar said, “Now, more than ever, established financial institutions need to be aware of the latest AI and data analytics technology in the market to deliver competitive financial products and reach new customers. The AIFinTech100 list helps senior decision-makers in the industry filter through all the vendors in the market by identifying the market-leading AI innovators which will have lasting impact on the industry.”


The leading companies that were awarded a place on the list include:

ACTICO: international provider of software for intelligent automation and digital decisioning in financial services

ComplyAdvantage: the global leader in hyperscale risk management designed to help hypergrowth companies find, minimize or eliminate the threat of financial crimes.

EasySend: a no-code platform that empowers organizations to transform complex forms into easy digital experiences fast and at a fraction of the cost

ForwardLane: hyper-personalize the client experience with data-driven insights and next best actions for wealth, asset management and insurance.

Greater Than: offers a data analytics tool that predicts driver risk helping motor insurance & mobility with precision pricing.

KYC2020: combines smart data and AI with human factors engineering to automate Watchlist and Adverse Media Screening and Ongoing Monitoring.

NICE Actimize: the leading global provider of financial crime, risk, and compliance solutions.

PureFacts: develops software that helps financial services firms increase revenue, reduce risk, and deliver better outcomes to their clients.

Quantiphi: award-winning AI-first digital engineering company, that helps enterprises reimagine and realize transformational business opportunities at the heart of the business.

Sentient Machines: advanced conversational analytics platform that enables 100% monitoring of customer interactions using cutting-edge AI, uncovering high-risk conversations critical to the business.

Smarsh: provider of cloud-native, AI-enabled digital communications capture, retention, and oversight solutions for industries with strict compliance and e-discovery requirements.

Symphony AyasdiAI: its innovative technology empowers financial institutions to confidently detect and even predict crime routinely ignored by legacy systems.

Tink: Europe’s leading open banking platform that enables banks, fintechs and startups to develop data-driven financial services.

Turing Technology: technology firm using breakthrough AI to redefine and reinvent active investment management.

VoxSmart: helps businesses see their communications data in a clear and compliant way to effectively mitigate business risks.

The AIFINTECH100 is an annual list of 100 of the world’s most innovative AI solution providers for financial services selected by a panel of industry experts and analysts. These are the companies every financial institution needs to know about as they consider and develop their digital transformation strategies and new customer propositions.

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Source : newswire

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