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Alyshai Nadeem

September 1, 2022

Top 15 AI startups developing financial services in the USA

From managing your cash flow to making lending decisions for you, here is a list of 15 fintech startups using Artificial Intelligence to enhance your experience.

1. Affirm is changing the way people buy stuff 

Affirm logo | Data Science Dojo

Affirm is a consumer application that grants loans for purchases at various retailers. The startup makes use of multiple machine learning algorithms for credit underwriting and happens to be the exclusive buy now, pay later partner for Amazon. 

Max Levchin, the co-founder of PayPal, along with Nathan Gettings, Jeffrey Kaditz, and Alex Rampell introduced Affirm in 2012 to the world. 

Affirm also partnered with Walmart in 2019, allowing customers to access the app in-store and on Walmart’s website. 

Founded: 2012 

Headquarters: San Francisco 

Website: Affirm Official Site

2. HighRadius is automating financial processes

highradius squareLogo 1632289057118 | Data Science Dojo

Fintech startup, HighRadius provides a Software-as-a-Service company (SaaS). The startup makes use of AI-based autonomous systems to help automate Accounts Receivable and Treasury processes. 

HighRadius provides high operational efficiency, accurate cash flow forecasting, and much more to help companies achieve strong ROI. 

Founded: 2006 

Headquarters: Houston, Texas 

Website: HighRadius Official

3. SparkCognition is building smarter, safer, and sustainable solutions for the future

SparkCognition Logo | Data Science Dojo

SparkCognition focuses on creating AI-powered cyber-physical software for the safety, security, and reliability of IT, OT, and the IoT. The startup builds artificial intelligence solutions for applications in energy, oil and gas, manufacturing, finance, aerospace, defense, and security. 

The startup’s work in the financial sector enables businesses to improve analytical accuracy, minimize risks, accelerate reaction time to fluctuating market conditions, and sustain a competitive advantage. 

Previously, SparkCognition enabled a fintech startup to use a machine learning model to detect fraud with 90% accuracy, saving the company over $450K each year. 

Founded: 2013 

Headquarters: Austin, Texas 

Website: SparkCognition Official

4. ZestFinance helps cut losses and increase revenue

ZestFinance Logo | Data Science Dojo
ZestFinance Logo

Another popular name in the financial AI industry, ZestFinance enables companies by helping them increase approval rates, cut credit losses, and improve underwriting using machine learning. 

Moreover, the startup helps lenders predict credit risk so they can increase revenues, reduce risk & ensure compliance. 

The main aim of the startup is to grant fair and transparent credit access to everyone and build an equitable financial system. 

Founded: 2009 

Headquarters: Burbank, California. 

Website: ZestFinance

5. Upstart investigates the financial background and gives you a lower rate of lending

upstart network inc logo vector | Data Science Dojo

Based on a very cool concept, Upstart first checks your education and job history, then helps understand more about your future potential to eventually get the user a lower rate for lending. 

According to the startup itself, they look beyond a person’s credit score for personal loans, car loan refinance, and small business loans.  

Founded: 2012 

Headquarters: San Mateo, California 

Website: Upstart 

6. Vise AI is the financial advisor of the future.

Vise Logo | Data Science Dojo

An AI-driven asset management platform, Vise AI is built and designed specifically as a financial advisory platform.  

The startup builds hyper-personalized portfolios and automates portfolio management. Moreover, they aim to enable financial advisory across businesses so they can focus on developing their clients and growing their businesses. 

Founded: 2019 

Headquarters: New York 

Website: ViseAI 

7. Cape Analytics helps avail accurate insurance quotes

131 1317638 cape analytics logo hd png download | Data Science Dojo

Cape Analytics combines machine learning and geospatial imagery to help identify property attributes that allow insurance companies to provide clients with accurate quotes. 

The main aim of the startup is to provide property details to combat any risks associated with climate, insurance, and real estate. 

Founded: 2014 

Headquarters: Mountain View, California, United States 

Website: Cape Analytics 

8. Clinc is revolutionizing conversational AI, one bank at a time.

ao startups

Clinc develops intelligent personal financial assistants. The platform enables personal and instant answers to any common or complex questions. 

Inspired by conversational AI, Clinc focuses on revolutionizing conversational AI at some of the biggest banks in the world. The startup utilizes NLP which understands how people talk, powering exceptional customer experiences that build loyalty and generate ROI. 

Founded: 2015 

Headquarters: Ann Arbor, Michigan 

Website: Clinc

To learn more about Conversational AI, click here.

9. Sentieo is centralizing financial research tools into a single platform

finance startups logo

Sentieo is an AI-powered financial research startup that develops and distributes a range of systems across the financial world.  

Sentieo is a financial intelligence platform that aims to centralize multiple financial research tools into a single innovative Ai-powered platform. Sentieo helps analysts save time but also discover alpha-driving insights. 

Founded: 2012 

Headquarters: San Francisco, CA 

Website: Sentieo

10. CognitiveScale is industrializing scalable Enterprise AI

logo partner cognitiveScale | Data Science Dojo

Pioneering the concept of ‘AI engineering,’ CognitiveScale aims to industrialize scalable Enterprise AI development and deployment. 

The startup makes use of its award-winning Cortex AI Platform to empower businesses. The startup helps implement trusted decision intelligence into business processes and applications for better customer experience and operational efficiency. 

Founded: 2013 

Headquarters: Austin, Texas 

Website: CofnitiveScale

11. Kyndi is building the world’s first Explainable AI platform

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AI company Kyndi is trying to build the world’s first Explainable AI platform for governments and commercial institutions.  

The startup hopes to transform business processes by offering auditable AI solutions across various platforms. It is built on the simple policy that higher-performing teams can produce trusted results and better business outcomes. 

Founded: 2014 

Headquarters: San Mateo, CA 

Website: Kyndi

12. NumerAI is bridging the gap between the stock market and Data Scientists

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Another startup transforming the financial sector is NumerAI. The startup aims to transform and regularize financial data into machine learning problems for a global network of Data Scientists. 

Given the inefficiency of the stock market concerning developments in machine learning and artificial intelligence, the startup recognized that only a fraction of the world’s Data Scientists have access to its data and create solutions to combat that. 

Founded: 2015 

Headquarters: California Street, San Francisco 

Website: Numerai 

13. Merlon Intelligence is one of the startups that provide financial security through AI

download 1 2 e1661981336216 | Data Science Dojo

Fintech startup, Merlon Intelligence, helps banks by mitigating potential risks and controlling money laundering across multiple platforms. 

The startup makes use of AI to automate adverse media screening. This helps business and financial analysts focus on quicker, more accurate, real-time decisions. 

Founded: 2016 

Headquarters: San Francisco, California 

Website: Merlon Intelligence 

14. Trade Ideas’ virtual research analyst helps with smarter trading

| Data Science Dojo

Trade Ideas built a virtual research analyst that can sift through multiple aspects of business and finances, including technical, fundamental, social, and much more. The virtual assistant sifts through thousands of trades every day to help find the highest probability. 

The startup makes use of thousands of data centers and makes them play with different trading scenarios every single day. 

Founded: 2002 

Headquarters: San Diego County, California 

Website: Trade Ideas

15. Datrics is democratizing self-service financial analytics using data science

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Fintech startup, Datrics helps democratize self-service analytics as well as machine learning solutions by providing an easy-to-use drag-and-drop interface. 

Datrics provides a no-code platform that can easily generate analytics and data science. The startup makes use of data-driven decision-making that allows enterprises to make better use of their financial service analytics. 


Headquarters: Delaware, United States 

Website: Datrics

Also, read about 10 AI startups revolutionizing healthcare you should know about

If you would like to learn more about Artificial Intelligence, click here.

Is there any other AI-based fintech startup that you would like us to talk about? Let us know in the comments below. For similar listicles, click here.

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