We've put together the top 10 Fin Tech startups from this year, designed to provide you with plenty of fresh inspiration for the future. Note: in order to read some of these articles, a Springwise Access account is required.
AI financial advisor makes 80 year projection
We are seeing many smart, artificial intelligence apps that help users manage their financial goals. Pefin is an AI financial advisor that monitors over two million data points to suggest decisions. Neomy is another finance assistant that checks globals exchange rates and sends alerts to users when it is the best time for transfers.
App delivers financial advice for students via Snapchat
While targeting millennials is hardly a new strategy for financial institutions, catering specifically to smartphone natives is one way fin tech startups are beginning to set themselves apart from the status quo. NextGenVest is a money advice app which sends reminders to young adults and students for filling out financial forms via SMS and Snapchat. Companies like Mondo and Kuho are also offering smart, mobile-first banking solutions.
Connected cars pay for parking spaces via fingerprint
Fingerprint payment technology is finally upon us, and initial implementations include SEAT, Samsung and SAP’s system for reserving and paying for parking via biometrics. In Japan, a new initiative will enable tourists to pay for items using their forefingers.
Could payment via sound waves rival NFC?
Although NFC payments have already had a huge impact, there is still a degree of uncertainty as to whether the tech will remain the default payment method of the future. SoundPays and ToneTag are offering alternative ways to pay seamlessly, with offline cashless payments through sound waves.
Crowdfunding real estate down payments from the community
Home ownership is becoming an increasingly remote possibility for younger generations who simply cannot afford the down payments. Landed wants to help buyers crowdfund their deposit from neighbors, bosses, and colleagues, who receive equity on their first home in exchange.
Financial platform fronts revenues on pending invoices
Irregular or delayed payments can seriously stunt the progress of a business, but now startups can use BillFront’s services to ease cash-flow issues. The company pays businesses their pending invoices instantly, enabling rapid reinvestment of revenue into growth.
Investment platform funds renewables in South America
Investing in positive social change is something many New Entrepreneurs are passionate about, and so it’s no surprise to see new startups popping up to help them do just that. Caaapital is an investment platform that connects investors with renewable energy projects, while Goodbye Gun Stocks is a startup that will help customers divest their stocks away from the gun industry.
Journalism pay-per-article platform aims to be Spotify for news
Offering democratized, free content, while ensuring journalists are paid enough is a constant balancing act for online publishers. Blendle offers a solution: it is a platform that lets readers make micropayments to access news articles behind paywalls without having to subscribe.
Single item insurance via a smartphone app
Organizing insurance is one of those financial tasks many people find daunting. Hoping to offer an alternative, Trov is an insurance platform for millennials that enables them to register items one-by-one, and make claims by chatting to a bot.
Smart grid uses blockchain for sharing energy
One of the most immediately recognizable benefits of blockchain technology is the security and transparency it guarantees in financial transactions. Transactivgrid has started work in Brooklyn to enable peer-to-peer energy trading — residents in Park Slope and surrounding areas can now create a network of local energy, and buy and sell solar power from each other securely using blockchain.