AI in Fintech Solutions

Top Features

AI machines conduct different tasks, such as understanding, decision making, preparation, and comprehension of voice, such as humans. Artificial Intelligence plays a very significant role in the financial technology market. It decreases time, improves performance and therefore reduces the probability of mistake. AI is quite helpful when producing a huge number of papers. Some of the top features of this market are:

  1. Business Finance & Expense Reporting
  2. Fraud Detection
  3. Market Research / Sentiment Analysis
  4. Predictive Analytics
  5. Regulatory compliance
  6. Accessible analytics
  7. Cross-platform functionality
  8. Integration with other fintech apps
  9. Money-Laundering Prevention
  10. Asset and Portfolio Management
  11. Automated Customer Support
  12. Chatbot / Personal Finance
  13. Credit Lending / Scoring
  14. Debt Collection
  15. Insurance Management

Top 10 AI in Fintech Solutions

Due to the involvement of several foreign players in the industry, AI in Fintech sector is heading towards globalization. More numerous investments and large-scale business cooperation are likely to take place early, based on creativity. Some of the big players at the moment are:

  1. IBM Watson Platform
  2. MICROSOFT Cortana Intelligence Suite
  3. AMAZON AWS Alexa
  4. SALESFORCE Einstein
  5. GOOGLE Cloud Platform
  6. INTEL Movidius Neural Compute Stick
  7. INBENTA InbentaBot
  8. NUANCE Virtual Assistance
  9. SAMSUNG Nexfinance
  10. AYASDI

Top 10 New Entrants

Emerging firms have offerings for niche products and services. Their business tactics aren't as powerful as the established companies. The evolving vendors include the new market entrants, beginning to emerge in terms of product portfolio and geographical coverage, and need time to gain strong market popularity. Some of the emerging new entrants are:

  1. AlphaSense
  2. ANODOT AI Analytics
  3. ACCESSFINTECH
  4. VOYAGER Analytics
  5. VERINT NEXT IT Alme
  6. KASISTO KAI Banking
  7. BRIGHTERION Smart Agents
  8. ZESTFINANCE ZAML suite
  9. RAZORTHINK Big Brain
  10. FEEDZAI
AI in Fintech refers to the theory and development of computer systems capable of performing finance-related tasks which usually require human intelligence. It is an application of AI technology enable with the financial sector in various forms such as designing investment strategies, anomaly detection with pattern recognition, voice recognition, text mining, semantic analysis, and market analysis with data mining. The AI in Fintech market in this report is defined as the summation of AI-enabled Fintech solution and services.

VISIONARY LEADERS

Visionary leaders are the leading market players in terms of new developments such as product launches, innovative technologies, and the adoption of growth strategies. These players have a broad product offering that caters to most of the regions globally. Visionary leaders primarily focus on acquiring the leading market position through their strong financial capabilities and their well-established brand equity.

DYNAMIC DIFFERENTIATORS

Dynamic Differentiators are established players with very strong business strategies. However, they have a weaker product portfolio compared to the visionary leaders. They generally focus only on a specific type of technology related to the product.

INNOVATORS

Innovators in the competitive leadership mapping are vendors that have demonstrated substantial product innovations as compared to their competitors. The companies have focused on product portfolios. However, they do not have very strong growth strategies for their overall business, when compared with the visionary leaders.

EMERGING COMPANIES

Emerging companies have niche product and service offerings. Their business strategies are not as strong as that of the established vendors. The emerging vendors include the new entrants in the market, emerging in terms of product portfolio and geographic reach, and require time to gain significant traction in the market.

AI in Fintech Solutions

Comparing 79 vendors in AI in Fintech Solutions across 128 criteria.
12 Experts are advising 71 buyers
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The IBM Watson platform offers various products and services for the AI in Fintech market; Watson Financial Services delivers solutions such as Customer Insight and Risk & Compliance for the financial industry. The Customer Insight solution includes cognitive capabilities that help identify the behavior of customers.
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Microsoft is focused cloud-based for business, helping financial firms big and small enable intelligent industry transformation with data and artificial intelligence (AI). Microsoft technology, partner solutions and industry contributions are designed to help financial services businesses compete, innovate and succeed in the future. Microsoft solutions are helping firms to do things like grow retail banking business with next-best-action software, spot and fight financial crime, and improve customer relationships with multichannel customer experience solutions

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The company specializes in offering speech-to-text, text-to-speech, and image recognition capabilities. It also offers a toolkit to help developers create financial applications on the Amazon Web services platform.
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The company offers its Einstein platform for financial industry applications. It also offers a CRM platform for financial advisors that helps them get a client's financial account information as well as family wealth ecosystem.
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Google Cloud Platform is able to recognize the trends in large datasets from diverse sources and archive large amounts of sensitive data. To keep up with massive computing demands, financial institutions like HSBC are moving their data to Google Cloud Platform (GCP). GCP runs on the same infrastructure and private fiber network that power Google, offering the client the scale needed to run training algorithms, portfolio analysis, and risk modeling at the speed of their business.
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Intel offers hardware as well as software solutions in the AI in Fintech market. Intel’s Movidius Neural Compute Stick, Intel Xeon Scalable Processor, and Xeon Phi Processor support high-performance computing applications in BFSI sector. Intel also offers software tools to build financial applications.
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Inbenta offers various AI-enabled solutions to the BFSI sector that include eCommerce search, InbetaBot, support ticketing, and enterprise search. These solutions also leverage AI capabilities such as NLP, sentiment analysis, and instant answers to better understand customer behavior and provide more personalized services.
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Nuance offers a virtual assistant, Nina, who is able to understand what customers are looking for, in order to better serve them. Nuance also offers a live chat solution that helps customers by routing them to the proper agents in order to meet their needs.
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Nextfinance helps in effectively verifying new technologies needed for digital finance by using the digital platform.Nextfinance helps in the quick application by proven services including Digital Identity, Digital Payment, Digital Finance Concierge, and AI Virtual Assistant, to your business.It helps in expanding the ecosystem by leveraging new technologies and services which is continuously applied to platforms.

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Ayasdi is few of the AI players that delivers real applications with real business value. The market for AI in financial services is at a relatively early stage in terms of adoption. Ayasdi delivers proof points and practical use cases. The company helps in improving the efficiency and effectiveness of the AML function.  

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Amelia uses business intelligence drawn from distinct interaction integrated with data held in enterprise core systems. It uses advanced analytics like deep learning to evaluate substantial amounts of data and act on new insights which allows to make real-time decisions that provide better outcomes.

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Active.Ai empowers banks and other financial institutions to intuitively and intelligently engage customers on mobile, chat, or voice-enabled IoT devices using Artificial Intelligence. The AI platform combines specialized solutions using artificial intelligence and Natural Language Processing to deliver seamless conversational interactions to provide financial services.They manage and build low cost, customer-centric digital channels with out of box support for current accounts, loans, Trade finance, treasury, payments, service request, virtual agents , lead generators for corporate and SMB Banking.

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The company offers big data analytics and AI-based solutions that help financial firms in intelligent decision-making when dealing with regulations related to bribery and corruption, terrorist financing, sanctions, and money laundering.
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Digital Reasoning System’s software uses artificial intelligence to analyze text and audio communication. It breaks down analytics silos and equips surveillance professionals to progress a human-centric approach to conduct risk mitigation. It integrates communication data to reveal hidden behavior, intentions, and emotions behind conduct risk. It also scans opportunities and trends from various sources such as emails, chat messages, social media posts and phone calls. The company also provides voice analytics technologies. It develops software for accurate transcription with the help of individual customer’s data and offers a seamless monitoring and investigating tool.
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A pioneer in the BI and analytics space, MicroStrategy delivers innovative software that empowers users to make better decisions and transform the way they do business.
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DataRobot offers an automated ML platform for data scientists of all skill levels to build and deploy accurate machine learning models in a fraction of time.
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AppZen delivers the world’s leading AI platform for modern finance teams. They automate the manual process, uncover problems, and optimize decision making for large organizations. Their platform combines patented deep learning, computer vision, and semantic analysis with intelligence from thousands of online data sources to understand financial transactions in a business context and make decisions before those transactions happen for customers.

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AlphaSense transforms the way companies get information and make critical decisions with its AI-powered market intelligence platform. The company mission is to organize and semantically index global investment and market research data, allowing clients to be more efficient and outdo the competition. Used by the largest and fastest-growing corporations and financial firms worldwide, AlphaSense is headquartered in NYC with offices in London, Helsinki, San Francisco, and Boston.
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Anodot monitors behavior of operational metrics and proactively prevent security and performance issues. All data sources are integrated into a centralized platform, where AI models learn how metrics behave at the granular level. It ensures trust, reliable performance, and constant availability.
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 Access Fintech controls, scales, and analyzes businesses across technology and operations. The service helps companies track the lifecycle to prioritize risks for banks and buy-side firms. It can be used to control, analyze, and scale businesses across operations and technologies. Access Fintech allows control functions to adjust prioritization based on market condition changes, and to oversee and determine bottlenecks and intervention points for higher management.
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Voyager Labs has created the first real solution to this lending squeeze. They are leading artificial intelligence and cognitive learning company who is entirely focused on deriving valuable, actionable insights from the vast amounts of data in the social sphere. Voyager Finance brings lenders of all kinds a new and highly accurate social scoring layer, for enabling to evolve portfolio to a more profitable one.

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Next IT's AI-based conversational technologies help financial institutes drive revenue, streamline processes, and improve customer engagement by offering intelligent interfaces.
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KAI Consumer Banking (KCB) offers digitally-engaging experiences for customers through a branded virtual assistant. It is an industry-agnostic Conversational AI platform that lets companies create virtual assistants and bots that deliver personalized, delightful, and intelligent experiences across multiple channels. It’s deep financial expertise eliminates the need for costly ramp-up time and training.
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Brighterion provides a comprehensive portfolio of AI and ML technologies that can enhance data to enable real-time decisions. AI platform that works in any industry, with any data source, regardless of type, complexity or volume.

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Aire provides credit assessment services that give people a new credit score to help them qualify for essential financial products. Aire builds insights on classified transaction data and helps lenders in assessing a range of dimensions such as affordability and indebtedness leading to better outcomes and customers. This also helps in improving the overall score of the performance of the lender, adding notable credit risk differentiation.
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The company develops consumer lending platform that utilizes AI-based credit scoring. The company feeds a mix of online data and traditional credit intelligence to its machine learning algorithms to decide whether a customer is eligible for a loan. Applications are made online and the approval process is automated with the company aiming to become a one-click loan provider.

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Vidado helps in transforming back-office workflows with faster processing of manual workflows, streamline fund management allocation, and improving fraud detection by unlocking data from paper. Vidado is the bridge towards complete digital automation. It helps in improving the customer experience by reducing cycle times while dramatically reducing operational costs.

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AIDA Technologies offers solutions based on AI and predictive analytics for financial services. These include solutions for customization and maintenance along with compliance and risk analytics. This helps organizations act preventively rather solving problems after they occur.
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ZAML is a machine learning credit and risk modeling solution with end-to-end explainability. It is fast and powerful and offers unique transparency with regards to fees and processes. Zest’s Automated Machine Learning (ZAML) enables lenders to analyze non-traditional data, including data they already have in-house, such as customer support data, payment histories, and purchase transactions.
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Shift Technology leverages the best of data science to automatically detect networks of fraudsters in insurance and e-commerce. The solution is integrated to deliver cutting edge Big Data platform and is provided with SaaS model. They help insurers defeat fraudster, streamline claim workflows, accelerate claim solutions and also bring straight-through processing and reach.

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