According to Fortunly, top fintech companies startups succeed in getting $135 billion as an investment in 2019 from all over the globe. By the year 2023, Artificial Intelligence Services and Solutions (AI) will save $1.3billion for the insurance industries.
So, Fintech startups and companies are going to shake the world in the future.
What exactly is Fintech?
If you don’t know what exactly is Fintech, then let me help you. Fintech is the combination of two words; financial and technology. If you have ever paid your phone, internet bills via the internet, or sent any money through platforms like Paypal, Stripe, etc., then all these things are the faces of Fintech.
Fintech term comprises everything from virtual currencies to cashless payments, crowdfunding platforms to Robo-advisors. So, whenever you send money to your son’s account – that’s fintech.
Financial technology empowers you to do your traditional financial activities through digital platforms.
Now, you don’t need to wait in lines to pay for your internet or mobile bills; financial technology helps you to do all these traditional financial tasks online.
Fintech Companies – The Name of Revolution
Fintech companies have brought the storm of revolution all over the globe. The modern and advanced financial technology techniques have boosted the economies dramatically we never expected than ever before.
Only Banks Are Fintech Companies?
No. Banks aren’t only fintech industries that have boosted the economy and changed the traditional financial space. In today’s article, we will cover the top 7 Fintech Companies and Startups you should look out for in 2020
List of Top Fintech Companies in the World
Do you want financial peace of mind? Then Chime is here. It was found in 2013 in San Francisco, California, US. Chime is one of the fastest-growing banks and top fintech companies in the United States. Chime is fully dedicated to protecting their user’s money in the banking space.
It is a banking app created by a tech company that tracks your account balances, daily transactions, offers no-fee and automatic savings accounts. Moreover, it helps you to get early payday via direct deposit. It doesn’t have any physical location and doesn’t charge monthly or overdraft fees.
2. Ant Group
Ant Group is an affiliate company of Ali Baba Corporation. It is one of the top fintech companies in the world. It changed its former name Ant Financial Services Group in 2020. 2014 is the birth year of this company originated with Alipay, which is considered the world’s leading third-party payment platform.
Today, Alipay has grown from a payment tool to a one-stop digital life platform. Through the open platform strategy, the introduction of digital finance, government affairs and people’s livelihood, local life, and other fields of service providers to provide consumers with one-stop digital life services.
Sharing technology on a global scale, Alipay and digital wallet partners jointly serve approximately 1.3 billion users worldwide, providing mobile payment and digital inclusive financial services.
3. Varo Money
Want quicker access to your money? Varo Money will help you out. From its beginning in 2015, it’s been focused to help everyday Americans with the latest and advanced fintech tools in their financial activities and lives. It is one of the top fintech companies in the world.
You can access both checking and savings accounts through their fully-functional mobile app. Users can transfer their money instantly as well as insights into spending habits.
Varo Money’s users don’t require even a minimum balance to receive their debit card. So, don’t worry about monthly fees, minimum balance, or transfer fees.
Hey! Are you a business owner? Want a platform where you can accept payments regardless of sales channel all over the globe? Well, Adyen, has something for you. Adyen is one of the top fintech startups in the world founded in 2006. It leverages enterprises to get payments via any sales channel regardless of country or continent.
Almost 5000 businesses, in-store payments, processing mobile are leveraging Adyen in their enterprises to quickly grow.
Facebook, Microsoft, Netflix, L’O’real, Uber, these giants are the customers of this fintech company. They boosted their revenue from 100 million to 500 million in just 4 years. So, want to become their customers?
The next-level fintech services of Brex such as credit cards, bank accounts, expenses, accounting, and payments in one place will help your business to continue its growth seamlessly.
The Internet has given us everything that we need to run and operate your online business journey: from servers to email accounts, marketing tools, and technologies-except for money. Business and their activities have been changed and evolved, but banks haven’t. The small businesses of the future are looking for more like startups, and banks can’t give what they need.
Brex’s mission is to give relief to eCommerce, tech companies, and life science organizations by providing next-gen credit card and financial services. The cards feature 30-day payment cycles, 10-20x higher credit limits, and increased rewards points on pertinent business purchases.
TrueAccord is a debt collection and machine learning fintech company helping businesses by collecting debts in such a systematic way that helps both enterprises and users. They don’t use cold calling techniques like other companies but uses push notifications and modern forms of communication to give next-level customer engagement and payback rates.
Users of TrueAccord can personalize their time, payment arrangements, and channel according to their requirements.
It is one of the top fintech companies as well as next-gen “software as a service (SaaS)” companies in the world. Small businesses are leveraging their easy-to-use and user-friendly, efficient online accounting system from all over the globe. According to 2019 reports, they have 1.8M, active subscribers.
Xero provides leverage enterprises with automated daily bank feeds, sales tax, invoicing, a cashbook, and debtors. Forbes gave it the title of the world’s most innovative growth companies in 2014 and 2015.