8 Top FinTech Startups In 2017: Hi-Tech Models To Improve Financial Processes

23 AUG 2017


Finovate Spring 2017 introduced 60 startups in financial and banking sector. this industry doesn't tolerate haste so it is not surprising that some Finovate 2017 Best of Show award winners launched their projects in 2014.

Despite the fact that banks were concerned about searching for breakthrough technologies, any blockchain startups, marketplace or breakthrough solutions weren't presented at the exhibition.

All projects were focused completely on big players servicing in this sector - mostly financial organizations. According to the winners' list, applied trends by technological companies are rather typical: chatbots, machine learning, artificial intelligence, virtual reality, integrations with social media, platforms, API and open banking, and working with the elimination of user mistakes.

See the right way to secure your payments. Read How to secure payments processing: payment system for your business

What is FinTech startup? We decided to structure awarded startups and divide them into 3 categories:

  1. Startups for analytical data collection in social media;
    2. Startups for recognition of oral and written speech; 
    3. Startups for financial consulting. 

Startups for analytical data collection in social media

Neener Analytics

Area: behavior analytics in social media

Project guarantees 80% of accuracy in determination of FICO score (a key tool for measurement of consumer credit risk level in the USA) on the basis of analysis of one social media profile. Moreover, with the help of this analysis, they can tell you whether your borrower will return funds within the whole period and repay a debt or repay it before/prior to the due date. It is an innovation in FinTech.

what is fintech industry?

Neener Analytics tool for social media analysis


Area: API for data collection in social media

Alpharank in autonomous mode helps understand how clients affect each other's buying behavior. Their technology uses analysis of a user purchase history and social experiences in Facebook.

Alpharank determines the cost of each customer on the basis of the influence of their purchase on others. Developers say that this data will help optimize e-mail marketing, loyalty programs, referral programs and coupons as well as campaigns in social media. The main fields of such technology application are e-commerce, tickets sale, and banking market as well, so it can show the FinTech impact on banks.

innovation fintech

Alpharank API for analyzing clients' buying behavior

Startups for recognition of oral and written speech


Area: written speech recognition for asset management.

Capitalise simplifies investment process by recognizing and understanding the text written by investors.

You explain in simple language your investment strategy to a robot that automates the trading process. Automated management of company's portfolio is based on investment scenarios users can analyze and optimize for efficiency increase. In addition to the user request, the platform also suggests alternative and more efficient strategies. Due to the power of FinTech, small business can get benefits from such startup.

fintech trends for the future of asset management

Capitalise tool to make your investments smarter

According to founders, only large investors could afford themselves such mechanism, and banks could support personal event managers for such large investors.


Area: identification by voice

SpeechPro is a subsidiary company of STC group in the USA. It is a large developer of the voice and multimodal biometric systems and solutions for audio and video recording, processing and analysis. By the way, voice identification becomes one of the top FinTech trends.

SpeechPro has developed a biometric solution for voice recognition and system for identification of fraud calls. VoiceKey.AGENT helps recognize the voice of valid account owner with 100% of accuracy and confirm procedure or identify fraud. In other words, it helps identify an individual who is trying to act as a client of a bank.

Find out how to create a mobile-only banking app. Read Mobile-only banking: your profit-earning strategy in the FinTech field

The solution is based on a unique biometric voice technology that is searching for and identifying frauds among customers calling contact centers. VoiceKey.FRAUD automatically identifies fraud voices in incoming calls to contact centers and immediately notifies operator and security service to take action. It compares subscribers' voices with voices from fraud databases in online and offline modes and creates it's fraud list.

innovation in payments the future is fintech

Voice identification by SpeechPro

Microblink (BlinkReceipt)

Area: recognition of printed checks.

Microblink is R&D company that is specialized in patented machine vision, in optical character recognition (OCR) for mobile devices in particular. Microblink develops SDKs designed for UX improvement in apps replacing a manual input. Microblink allows recognizing data, scanning ID documents, payment statements, invoices, top-ups, SIM cards, scratch cards, VIN etc. All solutions can be easily integrated into any app developed with consideration of client's demands and can work in offline mode.

Technology is based on the most advanced neural networks and machine learning to provide quick and accurate text recognition. Microblink is famous for Photomath app development. It is a real-time solver of math tasks and the first software in the world that can recognize handwriting.

trends fintech

Photomath app can help you solve math task

BlinkReceipt recognizes checks and receipts issued during retail purchases and store info regarding the purchase. SDK provides extraction of all data about the purchase from retail cheques in a real-time mode. The software is functioning on smartphone and is one of the most efficient ways for purchase data collection.

BlinkReceipt can be used for purchase authorization, loyalty programs, research of market conjuncture and expenses accounting while planning personal funds. Service will be available outside the USA by the end of 2017.

Startups for financial consulting

Hedgeable AI Lab (Katana project)

Area: chatbots and voice menu for financial consulting.

Hedgeable AI Lab creates AI apps in a machine learning field, natural language processing, deep learning and intellectual data analysis for Hedgeable and partnership financial institutions around the world.

New release of Hedgeable FinTech innovation lab is the platform of Katana artificial intelligence. The smart personal assistant uses voice commands and chatbot technology for financial planning and consultation provision replacing real financial consultants.

Product distribution area: B2C, B2B, financial institutions, licensing.

FinTech chatbots

Hedgeable AI Lab - Katana project


Area: video chat to assist users

SaleMove specializes in consulting sales for online commerce. Using platform, you can interact with online clients in a real-time mode using voice connection and video messages. In the main, their services are required during costly purchases: cars, real estate, life insurance and jewelry.

Discover FinTech trends influence on business. Read How can FinTech trends influence the future of various industries?

Sale FinTech

SaleMove tool - voice connection and video message to chat with customers


Area: long-term loans

Unison positions itself as a market leader in investment in private property. The company makes long-term investments together with owners in accommodation via two innovation programs. One of them makes it possible to reduce an amount of an initial fee according to the principle of mutual investment in accommodation and Unison repays part of the debt. Another gives you a loan for an already available mortgage.

what is a fintech company

Unison app for long-term loans

At the same time, the customer doesn't pay monthly payments to Unison. He or she is not obliged to repay the debt by the specific date. When it is time to sell a house, Unison takes it's share of the sale amount equal to that part of the house belonging to the company. If the cost of your real estate has grown, the company earns together with you. If the price is lowering, the company bears the same risks as the owner.

Learn everything about contactless payment technology. Read Contactless payment technology: key players, benefits and risks

On the basis of all the above mentioned, winners really aim to solve real existing problems and they show again all advantages of the use of new chatbots technologies, machine learning as well as artificial intelligence. We can help you with the development of AI-based apps and any other FinTech apps if you need them. Contact us and subscribe to our blog!

Don't hesitate to watch our video as well:

How to monetize your app?

Rate this article!
1110 ratings, average: 4.57 out of 5


Leave a comment