AI in Fintech Solutions in Middle East and Africa

Growth in AI in Fintech in MEA is slow as compared to other regions due to civil unrest, political and economic pressures and low oil prices. However, there are some area’s and organizations that have partnered with various AI in Fintech organizations to develop their financial product s for better efficiency. Banks in MEA are slowly starting to focus on bringing AI in Fintech solutions for customer support. For instance, as a pilot project Middle East banking group, Emirates NBD, has installed a virtual assistant to bring about process automation to its banking services.

TOP VENDORS
In AI in Fintech Solutions

  1. IBM Watson Platform
    Reviews
    4.4
  2. MICROSOFT Cortana Intelligence Suite
    Reviews
    4.3
  3. AMAZON AWS Alexa
    Reviews
    4.2
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AI in Fintech Solutions Quadrant

Comparing [object Object] vendors in AI in Fintech Solutions across 128 criteria.

Find the best AI in Fintech Solutions solution for your business, using ratings and reviews from buyers, analysts, vendors and industry experts

EVALUATION CRITERIA

Below criteria are most commonly used for comparing AI in Fintech Solutions tools.
Product Maturity
Company Maturity
Use Case Maturity
Most IMPORTANT
0.0
0.0
0.0
Product Features and Functionality
4.40
4.45
4.35
Product Quality and Reliability
3.40
3.10
2.70
Deployment
3.30
3.30
3.05
Services
4.55
4.30
4.20
LEAST IMPORTANT LESS IMPORTANT

TOP VENDORS

  • 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

    Read More
    2.2
    BUYERS
    VENDORS
    EXPERTS
    4.2
    ANALYSTS
     
    • Enterprise
    • Washington, US
    • Founded: 1975
    • 1,00,001 to 5,00,000
  • 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.

    2.5
    BUYERS
    VENDORS
    2.5
    EXPERTS
    4.1
    ANALYSTS
     
    • Enterprise
    • New York, US
    • Founded: 1911
    • $50BN to $100BN
    • 1,00,001 to 5,00,000
  • 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.

    2.2
    BUYERS
    VENDORS
    EXPERTS
    4.1
    ANALYSTS
     
    • Enterprise
    • California, US
    • Founded: 1999
    • $5BN to $10BN
    • 30,001 to 35,000
  • 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.

    BUYERS
    VENDORS
    EXPERTS
    4.1
    ANALYSTS
     
    • Enterprise
    • California, US
    • Founded: 1968
    • $50BN to $100BN
    • 1,00,001 to 5,00,000
  • 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.

    2.3
    BUYERS
    VENDORS
    EXPERTS
    4.0
    ANALYSTS
     
    • Enterprise
    • Washington, US
    • Founded: 1994
    • More than $100 BN
    • 5,00,001 & more
  • 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.

    BUYERS
    VENDORS
    1.2
    EXPERTS
    3.7
    ANALYSTS
     
    • Enterprise
    • California, US
    • Founded: 1998
    • More than $100 BN
    • 75,001 to 1,00,000
  • 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.

    2.5
    BUYERS
    VENDORS
    1.8
    EXPERTS
    2.6
    ANALYSTS
     
    • Enterprise
    • Massachusetts, US
    • Founded: 1992
    • $1BN to $5BN
    • 10,001 to 15,000
  • 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.

    BUYERS
    VENDORS
    EXPERTS
    2.6
    ANALYSTS
     
    • Enterprise
    • Seoul, South Korea
    • Founded: 1938
    • More than $100 BN
    • 1,00,001 to 5,00,000
  • Ipsoft offers Amelia, a virtual agent, deployed by financial institutions in their IT service desk to increase the efficiency of operations. The company also provides IPCENTER, an autonomic IT management platform, that helps increase the volume of IT operations, along with improved response, fewer error rates, and zero downtime.

    BUYERS
    VENDORS
    1.6
    EXPERTS
    2.6
    ANALYSTS
     
    • SME
    • New York , USA
    • 1,001 to 5,000
  • 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.

    BUYERS
    VENDORS
    EXPERTS
    2.5
    ANALYSTS
     
    • Startup
    • New York, US
    • Founded: 2014
    • 101 to 500
  • 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.

    Read More
    BUYERS
    VENDORS
    EXPERTS
    2.4
    ANALYSTS
     
    • Startup
    • Tennessee, US
    • Founded: 2000
    • 101 to 500
  • 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.

    1.4
    BUYERS
    VENDORS
    EXPERTS
    2.1
    ANALYSTS
     
    • Startup
    • Massachusetts, US
    • Founded: 2012
    • S10BN to $50BN
    • 101 to 500
  • 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.

    Read More
    BUYERS
    VENDORS
    EXPERTS
    2.1
    ANALYSTS
     
    • Startup
    • San Francisco, USA
    • 101 to 500
  • FeedZai offers products for fraud management, anti-money laundering solutions, and account opening. The company’s products enable users to score transactions for credit, debit, ATM, and digital wallets for payments. It also validates payments and transactions and reduces false declines. It streamlines enrollment processes for checking accounts, credit, debit, and prepaid cards. It helps users to respond to loan applications faster. It also enables account verification, KYC, OFAC and ID checks. It monitors payment types across all business units and creates unique customer profiles to track trends and observe anomalies. It also screens transactions against a list of sanctions.

    Read More
    BUYERS
    VENDORS
    EXPERTS
    1.9
    ANALYSTS
     
    • Startup
    • California, USA
    • 51 to 100
  • 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.

    BUYERS
    VENDORS
    EXPERTS
    1.8
    ANALYSTS
     
    • Enterprise
    • New York, US
    • Founded: 2012
    • 101 to 500
  • Next IT's AI-based conversational technologies help financial institutes drive revenue, streamline processes, and improve customer engagement by offering intelligent interfaces.

    BUYERS
    VENDORS
    EXPERTS
    1.8
    ANALYSTS
     
    • Startup
    • Washington, US
    • Founded: 2002
    • $11MN to $50MN
    • 101 to 500
  • 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.

    BUYERS
    VENDORS
    EXPERTS
    1.8
    ANALYSTS
     
    • Enterprise
  • Big brain is the first Deep Learning Data Science Platform that automates the data preparation, modeling, evaluation, and deployment of deep learning solutions at scale.

    BUYERS
    VENDORS
    EXPERTS
    1.7
    ANALYSTS
     
    • Startup
    • California, US
    • Founded: 2015
    • Below $10 MN
    • 501 to 1,000
  • Clarity Money harness the power of artificial intelligence (AI), machine learning and data science to personalize customers experience for financial services.They support the financial journey through transparency, simplicity, and ease. Clarity combines machine learning with artificial intelligence to create a product that can help in managing money. They analyze customers accounts and spending patterns, and deliver insights to them.

    BUYERS
    VENDORS
    EXPERTS
    1.7
    ANALYSTS
     
    • Enterprise
    • New York
  • Finitive is a financial technology platform providing institutional investors with direct access to alternative lending investments. Finitive’s originator partners can gain efficient access to capital via a global network of investors who are actively allocating to alternative lending. 

    BUYERS
    VENDORS
    EXPERTS
    1.7
    ANALYSTS
     
    • Enterprise
    • New York, US
    • Founded: 2017
    • 1 to 50
  • Avant operates an online marketplace that provides users with access to personal loans to consolidate debt, to pay for their personal financial use. Through the use of big data and machine-learning algorithms, the company offers a customized approach to streamline credit options.

    BUYERS
    VENDORS
    EXPERTS
    1.7
    ANALYSTS
     
    • Enterprise
  • 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.

    BUYERS
    VENDORS
    EXPERTS
    1.7
    ANALYSTS
     
    • SME
    • California, US
    • Founded: 2009
    • 101 to 500
  • Alpaca’s proprietary dashboard AlpacaForecast uses artificial intelligence to predict market moves. The prediction matrix enables users to see short term price forecasts for various financial markets. The company also provides AlpacaRadar/Search which uses historical data to identify real-time price movement. It offers users charts for pattern recognition, extraction of multi-timeframe and multivariate relationships from price movements and expected return estimation based on return probability distribution.

    Read More
    BUYERS
    VENDORS
    EXPERTS
    1.6
    ANALYSTS
     
    • Startup
  • Algoriz is an artificial intelligence tool that enables users to build, automate and backtest trading strategies based on alternative and traditional sources of data. It helps design executable strategies by typing out ideas in plain English. It also provides standardized modules. It provides users with a simulated matching engine as well to test various algorithms.

    BUYERS
    VENDORS
    EXPERTS
    1.1
    ANALYSTS
     
    • Startup
    • New York, USA
    • 51 to 100

POTENTIAL BUYERS AND THEIR PROBLEMS

 
#Company Name Classified is tagged in this problem 5:46 PM 5 Apr,19
Project Manager,Company Name Classified
Buyer, Finance, SME Global Head - Service and Product Development, Company Name Classified

A leading Asian bank is planning to expand in SEA region like Singapore, Malaysia, Thailand and want ...Read More

Questions & Answers

1. AI in Fintech Solutions is a vast market and is connected to many others. How do I track down its dependencies and effects on other markets?

2. How do I find out the best emerging usecases in AI in Fintech market that can be advantageous for my industry?

3. Different parameters are considered while analysing the companies in AI in Fintech solutions market. What is the criteria to find out the ones that are most important?

4. Which are the top use cases for AI in fintech solution and service providers for revenue generation ?

5. What are the threats and opportunities in migration from traditional legacy financial solutions to AI powered financial solutions?

TOP REVIEWS

Looking for AI in Fintech Solutions? Get help
Other,Company Name Classified
Other, Company Name Classified
#5 in AI in Fintech Solutions

“Overall a complicated solution"

(*)(*)(*)( )( )3
We used the Google cloud for our SaaS offering for the fintech market. Implementation was relatively quick, however migration from AWS was a very complex affair, which we completed in stages. After deployment on the GCP, our data scientists tried the Google Cloud AI solutions. The primary challenges are in importing data and in collaboration between various user groups. We currently have an in-house stack for testing AI that can consume data from the Google Cloud Platform, and the team continues to use that.
Business Analyst,Company Name Classified
Business Analyst, Company Name Classified
#4 in AI in Fintech Solutions

“Efficient in organizing"

(*)(*)(*)(*)( )4
For someone like me, constantly looking to sort, categorize, and arrange items, Saleforce Einstein was a godsend. It is perfect for organizing tasks, teams, recipient lists, contact details, and so on. It makes life much easier. You can do all this and also communicate effectively with your team members. The only slight problem is that it can be a little confusing. And you may get messages stating errors and asking you for administrator access at times.
Vice President,Company Name Classified
Vice President, Company Name Classified
#4 in AI in Fintech Solutions

“Perfect partner for business development"

(*)(*)(*)(*)(*)5
I was looking for a product that would help process large amounts of data and is easy to use. This is exactly what I got with Einstein Analytics. It is exceptionally easy to use and is pleasant to look at as well. It is accessible from anywhere at any time, which is not something that can be said for a lot of other products. One major drawback, though is that it is steeply priced, especially for small businesses. Also, sometimes updates and the terminology can be challenging to understand. Apart from that, it is a great product for everyone.
Global Head - Service and Product Development,Company Name Classified
Global Head - Service and Product Development, Company Name Classified
#1 in AI in Fintech Solutions

“IBM Watson Financial Services: Perfect for institutions struggling to comply with regulations"

(*)(*)(*)(*)(*)5
With the increasing number of regulations in the financial sector, the complexity of handling them has also increased. Banks and financial institutions, are struggling to not only keep up with the dynamic regulations but also to comply with them 100%. This is making them spend unnecessarily high amounts of money to tackle this issue. In such a scenario, it is IBM Watson Financial Services that comes to the rescue. This platform uses AI as well as ML to identify and present incidences spanning across financial crimes and risks and GRC (governance, risk, and compliance). It helps banks that have limited clarity on what to expect and what obligations to fulfil when it comes to important regulations pertaining to KYC, AML, and the like. IBM’s regtech developments help tackle this issue and assists these institutions in making sound decisions, in a cost-efficient manner. With the increasing volumes of data that is being processed through these organizations, it is highly likely that they are going to need AI to handle as many issues as it can, so that their executives have time to carry out more important tasks.
Other,Company Name Classified
Other, Company Name Classified
#11 in AI in Fintech Solutions

“Offers best customization"

(*)(*)(*)( )( )3
We tested IPSOFT Amelia and were impressed by the range and quality of its responses. The range of customization possible is tremendous, which leads to a very pertinent response in every customer engagement. It seems to be able to gauge sentiment and emotions in the discussion, which is also a big plus for such a technology. We tried it on various customer segments and overall response has been very positive.
Other,Company Name Classified
Other, Company Name Classified
#1 in AI in Fintech Solutions

“A great AI platform to use in your business"

(*)(*)(*)(*)(*)5
A great cognitive tool to help you keep up, deal with, and comply with the ever-changing regulations in the financial sector. As a cognitive AI tool, it will guide you about important determiners such as customer behavior, patterns in their behavior, risk analysis, and help you manage your risks wrt regulatory compliance. This plays a major role in meeting our customer requirements, and providing them more personalized campaigns, without compromising on compliance.
Global Head - Service and Product Development,Company Name Classified
Global Head - Service and Product Development, Company Name Classified
#8 in AI in Fintech Solutions

“Nuance virtual assistant Sam to the rescue!"

(*)(*)(*)(*)(*)5
NINA is one of the friendliest chatbots available out there. It helps my customers solve many different queries related to taxes, grants, duties, and royalties. It’s natural language understanding is great for forming appropriate, human-like responses to customer queries. As it runs round the clock, my customers can have their questions answered anytime. Their feature of data analysis makes it particularly useful, as the responses seem to emulate human responses.
Other,Company Name Classified
Other, Company Name Classified
#8 in AI in Fintech Solutions

“Nina is helpful to render a more personalized experience for customers"

(*)(*)(*)(*)( )4
Nina as a virtual assistant has helped us to better handle our customers’ queries. What first took its customer care executives a long time to find and present, Nina can do in a matter of seconds. Since more than half of our customers prefer online transactions, Nina is perfect since she solves queries regarding basic information quickly. This makes more time available to customer care personnel to handle more complex issues which AI cannot handle today.