Technological disruption has had a big impact on businesses in the financial sector. Fintech solutions have changed the way financial institutions operate – and it seems that the revolution has just begun.
CFO Tech Outlook shared a similar sentiment when it published a list of the top 10 fintech solution providers of 2019. The magazine’s editorial board was joined by a panel of CTOs, CIOs, and analysts with the goal of recognizing the very best fintech solutions in the marketplace today.
The team of experts pointed out that tech trends like blockchain, artificial intelligence, and biometric technology are bound to reach a whole new level of sophistication in the near future. That is why the next decade is expected to see disruption on a much larger scale, even without new emergent technologies.
These, according to CFO, are the fintech companies that are best at navigating the oceans of disruption today:
Established in 2001 with headquarters in Vancouver, British Columbia, Agreement Express is the leading client onboarding automation provider for financial services. The platform allows financial institutions to design and execute a consistent customer application, approval, and onboarding experience across product offerings and channels. The platform is the first to help Fortune 500 companies gather, use, and reuse client data to evolve richer customer experiences.
C2FO is the fintech world’s first working-capital market, generating more than $245 billion in working-capital flow volume and more than 912 million days of accelerated payment since 2010. The company provides simple and transparent technology that allows businesses to access their receivables on demand, without waiting for payments.
C2FO lets companies request early payments from their customers in exchange for discounted invoices to convert their AR into immediate cash flow. This way, C2FO creates a debt-free working-capital solution that benefits both buyers and suppliers without the need for banks or other financial entities.
Clear View Systems
This Canadian-based fintech company is looking to automate foreign exchange relations through its state-of-the-art currency exchange application. The company’s flagship app, CurrencyXchanger 4D, is the most popular independent money-exchange application in North America. It is used by 300 companies across 25 countries, and has features like integrated double-entry accounting, AML-compliant record-keeping, live inventory tracking, and automatic rate updates.
Emagia is a leading provider of enterprise order-to-cash management solutions. The company focuses on combining automation, analytics, and artificial intelligence to reduce credit risks, maximize collections from receivables, and optimize working capital.
The company recently introduced Gia, an AI-based digital assistant for global finance executives that has been specifically designed for O2C operations in financial services. Gia delivers next-generation digital transformation to scale operations in global finance, with human and digital hybrid teams boosting efficiency to new levels. Emagia also offers machine learning and AI-based analytics and insights in order-to-cash management.
RegDox is a fintech company that provides market-leading solutions to some of the largest companies in North America and throughout the world. It provides IT security services including content shielding, customer-specific encryption, and tamper-proof auditing and reports. With RegDox, all documents and data transmissions between the client and the server are encrypted, protecting transactions and information from unauthorized access.
Rimilia is a UK-based company with customers in more than 50 countries around the globe. It provides intelligent finance-automation solutions that allow organizations to control cash flow and cash collections in real-time.
Based on artificial intelligence, Rimilia software solutions use sophisticated analytics to predict customer payment behavior and match and reconcile payments. The software automates the complete accounts receivable process, eliminating unallocated cash, reducing manual activity by an average 70%, and achieving best-in-class matching rates recognized by industry specialists.
Supernova offers the world’s first and only cloud-based, fully-customizable, end-to-end software solution to automate security-based lending from origination through the life of the loan. The company’s comprehensive SBL platform allows financial advisers to deliver holistic, goal-based advice to help investors toward financial wellness. In addition, clients can gain industry-leading training in sustainability and risk management.
A market pioneer, Surecomp has been providing finance solutions for banks and multinational corporations for more than 30 years. Established in 1987 in Ontario, Canada, this fintech company offers products that empower front- and backend trade finance operations to streamline transaction lifecycles, minimize costs, and maximize profits. With a global network of regional development and support centers, Surecomp successfully supports hundreds of installations in over 85 countries across six continents.
Scivantage is a New Jersey-based technology provider of cost basis, information reporting, and digital wealth management solutions. The company helps financial institutions manage their business more efficiently by streamlining the way finance professionals and their clients transact business. Scivantage’s cloud-based technology solutions also help generate new revenue, improve investment decisions, and build stronger customer relationships.
Stripe is a fintech company that helps organizations accept payments from anyone anywhere and manage their businesses online. By creating robust, clean APIs, Stripe allows its users to focus on building products with the aim of bringing more businesses online and raising the GDP of the internet. Headquartered in San Francisco, Stripe is the world’s fastest-growing developer platform, with investors that include PayPal co-founders Peter Thiel, Max Levchin, and Elon Musk.