Technology is evolving fast and changing multiple sectors, including finance. Financial technology enables affordable, faster, and safer financial services. Previously, people had to access financial services by visiting providers such as banks.
This has changed in recent years since technology has made it possible to access the same on your smartphone. Different entrepreneurs have come up with companies solving financial problems in New York City. This article will look at some of the most impactful fintech companies in New York City.
SmartAsset
This company’s objective is to help consumers make better financial decisions. Currently, the company creates personalized financial tools and serves over 45 million people.
Whether calculating your tax or buying a new home, the tools help you make informed choices. Their services also help you choose a retirement plan and manage credit cards.
Betterment
Also known as betterment.com, the company uses a Robo advisor to align your investment choices with your goals. The fintech firm avails three critical services to its clients, including retail investment, advisory services, and 401(K) for mid-market businesses.
More than 50,000 people have used their services since 2010. The firm is registered with the Securities and Exchange Commission and is also a member of FINRA.
Second Measure
Second Measure helps investors access real-time data of their consumers. This data allows companies to predict consumer behavior, enabling them to make well-informed investment decisions.
Second Measure staff includes developers, data scientists, technical analysts, and financial analysts. Investors in the firm include Citi Ventures and Y contributor.
Riskified
Riskified offers solutions to eCommerce, helping to smoothen the shopping experience. The Riskified team focuses on enhancing consumers’ safety when purchasing items online, eliminating fraud, verification friction, and payment failures. The team uses machine-learning algorithms and artificial intelligence to achieve this objective.
Heaven Term
Heaven Term uses financial technology to offer trustable life insurance solutions. The startup collaborates with Mutual Massachusetts to deliver timely insurance solutions.
Heaven Term’s partnership with Mutual Massachusetts is based on the 160 years of experience that Mutual Massachusetts brings to the table. The idea was conceived after the co-founder struggled to get dependable life insurance for his newborn.
Openfin
Openfin created an operating system that is innovative and fast to streamline desktop operations for financial professionals. Currently, the firm has employed 500 people, including financial experts, market analysts, industrialists, and developers. The company has created over 1000 desktop solutions for corporations and has served more than 1500 clients.
Dil Bole Oberoi
