10 data analytics startups disrupting the financial services industry

Data analytics has been the backbone of many revolutionary companies disrupting business as usual. Here are the top 10 data analytics startups disrupting the financial services industry today:

  • Chime (mobile banking) is a pioneering mobile bank that offers no-fee and automatic savings accounts as well as early paydays via direct deposit. With over one million opened accounts, Chime is one of the fastest growing banks in the United States.
  • Finn AI (internet banking) is an artificial intelligence (AI)-powered chatbot that helps banks and credit unions scale convenient self-service. The AI system is trained specifically for banking and has automated nearly 80% of requests that monopolize agents’ time.
  • Coinbase (blockchain) is an online platform for buying, selling and managing digital currencies. Coinbase currently supports 32 countries and has exchanged more than USD 150 billion in digital currencies.
  • Lemonade (InsurTech) is an insurance company powered by a unique combination of AI and behavioral economics.
  • Suplari (predictive analytics) is a pioneering accountability and financial performance system that gives leaders better insights into their spending viability and operational agility.
  • Crowdcube (crowdfunding) is an equity crowdfunding platform for entrepreneurs. It is used by many startups as a replacement for the banks, venture capital funding and angel investors.
  • Lending Club (peer-to-peer lending) is a peer-to-peer and alternative investing service providing new options for those seeking capital and those looking to invest. Through its online marketplace, investors purchase notes or fractions of loans, and borrowers receive funds for such things as debt consolidation and home renovations. 
  • Mint (smart finance management) offers users a way to easily manage bills, keep track of budgets and stay on top of finances.
  • Braintree (innovative payments) provides payment services to businesses of all sizes. Its products help companies that operate online and as marketplaces boost security, prevent fraud and safeguard user information.
  • SOFI (robo-advisors) provides refinancing, loan and wealth management services. In assessing a user’s rates and determining the likelihood of loan repayment, the digital company’s algorithm takes into account factors beyond income and credit history (e.g. education, career and estimated cashflow). In addition, SoFi offers benefits that most institutions charge extra or require large balances for (e.g. career services, unemployment protection and financial advising).