• PARAGONINTEL: Pioneering A New Era Of Management Analytics

  • Top 10 FinTech Solution Companies - 2021

    An overwhelming revolution in FinTech has sparked a revolution in the financial engagement by bringing in virtual interfaces and automation in almost every monetary process. In addition to transforming the conventional approaches of financial transactions, FinTech solutions have enhanced various aspects of finance like money lending, insurance, payments processing, and many more. Market Screener’s survey reveals that the FinTech market will be worth $26.5 trillion by 2022, at an increasing CAGR (Compound Annual Growth Rate) of 6%. The growth may be attributed to the need for insurance covers/loans and growing investment interests. However, data security has become one of the major concerns worldwide and within this industry too. With discreet vulnerabilities and threats, virtual security is questionable, and the FinTech industry has become one of the common targets for hackers. At the same time, many organizations are facing challenges to keep up with current technologies. As technology plays a central part in FinTech, organizations will operate through various digital channels to generate revenue and value. However, organizations that use outdated applications face difficulties in financial transactions and lack customer satisfaction. According to Gartner’s CIO survey in 2019, over 50% of CIOs from FinTech companies believe that almost every business will operate through virtual channels, and digital initiatives will generate more revenue and value. Apart from the technological barriers, the FinTech industry faces challenges related to regulatory frameworks and their requirements. As some regulators unaware of the upcoming FinTech culture, organizations are not getting regulatory approvals. Therefore, some organizations have been introduced to RegTech or Regulatory Technology, a supporting feature to get information about the compliance requirements to overcome this problem. Despite all the odds, FinTech plays a vital role in the US economy by reflecting a 57 percent share in the global FinTech market. With a safe and secure approach, FinTech solutions have strong potential to increase the government’s economic investments.

     This edition of CIO Applications features insights from the industry leaders and innovative solutions from FinTech firms. We hope our edition on “Top 10 FinTech Solution Providers 2021” helps you in making the right choice for a successful tomorrow.

     

    Today, the FinTech industry has brought significant developments into the financial landscape. With the utilization of Artificial Intelligence (AI), biometrics, blockchain, e-commerce resources, and other new-gen technologies, FinTech organizations initiated the trend of digitalonly banking and adopted various innovative solutions for payment processing. Contrary to traditional banking institutions, Digital-only banks offer many benefits to the users like P2P transfers, contactless Debit/Card cards alongside easy local/global payment processing with free transaction fee. It also enables the users to purchase and exchange Ethereum, Bitcoin, and other cryptocurrencies.

     In light of that, traditional and digital financial institutions primarily optimize blockchain technologies to reduce centralized monetary procedures. Blockchain, as a distributed ledger technology, sought to enhance internal processes and reduce paperwork and expenses. According to the report by Business Insider Intelligence, 48 percent of banking representatives predict that blockchain will have the biggest effect on banking through 2020 and beyond.

    Though FinTech has created a niche for itself socially, organizations face difficulties in receiving compliance approval from the regulators. As regulators lack reliable information about the structure and operations of FinTech markets, they enforce organizations to look for new ways to meet compliance requirements. With an ever-changing landscape of regulations, RegTech or Regulatory Technology solutions strategically help in solving recurrent problems related to regulatory compliance at an affordable cost.

    With the upcoming trends in the market, the FinTech industry is growing stronger. To that end, it ultimately strives to provide a secure ecosystem, comprehensive financial data, faster transaction processing, and better assistance for the customers. On that note, CIO Application lists the top most FinTech solutions providers, considering the vendor’s ability to design and build FinTech solutions that cater to the customer needs and productivity.

    We present to you our- “Top 10 FinTech Solution Providers - 2021.” SOLUTION PROVIDERS - 2021

    Top FinTech Solution Companies

  • Copytalk

    Copytalk

    Copytalk is a leading transcription service engineered to meet the financial service industry’s uniquely rigorous standards of accuracy, privacy, and efficiency in the recording of dictated client-meeting notes and the preparation & delivery of transcriptions. All of Copytalk’s transcriptions are prepared by live, U.S. facilities-based transcriptionists working at locked-down workstations within one of Copytalk’s securely managed facilities. These strict protocols, rare in the industry, ensure security, privacy, and quality control to meet the broad need for documentation

    www.copytalk.com

  • NEXSYS TECHNOLOGIES

    NEXSYS TECHNOLOGIES

    Nexsys Technologies is a fintech firm that specializes in designing and developing innovative solutions for quick lending processes. The firm creates products that focus on simple, personalized and reliable experiences for every partner and every aspect of the real estate process. The firm continuously refine those products to meet the changing needs of the industry, then they work to make them efficient, effective and just plain easy to use.

    www.nexsystech.com

  • Paragon Intel

    Paragon Intel

    Today, as a leader in the new field of management analytics, Paragon Intel architects products that help investors, private equity firms, corporate Boards, venture capital, law firms, recruitment firms, and companies themselves understand how an executive can impact a company's future performance. For this, Paragon Intel aggregates and verifies hard-to-find public data, leverages AI, and integrates qualitative insights on management to quantify executive performance and predict future outcomes. At its core, Paragon Intel provides a powerful platform—ManagementTrack—that eliminates guesswork and anecdotal evidence from management analysis and delivers meaningful, digestible information at clients' fingertips.

    www.paragonintel.com

  • BREX

    BREX

    Brex is all-in-one finance for growing businesses. They help companies spend, save, and earn smarter—and take every dollar further—by doing more than a bank, bookkeeping, or reward program could ever do alone. After completing the Y Combinator accelerator program in 2017, Brex has grown to over 600 employees and raised over US $940 million in venture capital.

  • CHIME

    CHIME

    Chime was created with the mission to make financial peace of mind a reality for millions of Americans. They're one of the fastest-growing financial technology companies in the U.S., offering banking services that are helpful, easy, and free—because they want to profit with their members, not from them. Their model doesn’t rely on overdraft, monthly service, minimum balance, or other member fees—it just focuses on delivering member value.

  • PLAID

    PLAID

    Plaid is used by thousands of digital financial apps and services like Betterment, Expensify, Microsoft and Venmo, and by many of the largest banks to make it easy for consumers to connect their financial accounts with the apps and services they want to use. Plaid connects with over 11,000 financial institutions across the U.S, Canada and Europe.

  • SALELYTICS

    SALELYTICS

    Salelytics is one of the nation’s leading providers of Inside Sales, Account Management & Inbound Support services. They help their partners drive incremental sales, increase market share and strengthen relationships with their customers. Salelytics' commitment to excellence has allowed their clients to overcome a variety of common sales challenges across multiple business segments.

  • SOFI TECHNOLOGIES

    SOFI TECHNOLOGIES

    SoFi is a different kind of finance company whose goal is to help people get their money right. Their products are built around their members—so that they have the tools they need to take control of their financial futures. SoFi provides financial products that includes student loan refinancing, mortgages, personal loans, credit card, investing, and banking through both mobile app and desktop interfaces.

  • SQUARE

    SQUARE

    Square builds common business tools in unconventional ways so more people can start, run, and grow their businesses. Square made credit card payments possible for all by turning a mobile phone into a credit card reader. Square has been building an entire business toolkit of both hardware and software products including Square Capital, Square Terminal, Square Payroll, and more.

  • STRIPE

    STRIPE

    Stripe is a technology company that builds economic infrastructure for the internet. Businesses of every size—from new startups to public companies like Salesforce and Facebook—use the company’s software to accept online payments and run technically sophisticated financial operations in more than 100 countries. Stripe helps new companies get started and grow their revenues, and established businesses accelerate into new markets and launch new business models. Over the long term, Stripe aims to increase the GDP of the internet.



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