India FinTech Forum, a not for profit fintech advocacy group representing Indian fintech companies, has announced 18 fintech startups who will be giving live demos next month to compete for the Fintech Startup of the Year award at India FinTech Awards (IFTA) 2019 taking place on November 29, 2019 in Mumbai.
These 18 have been chosen out of 400 fintech startups from within the country and overseas, that had applied for the award. In that light, this is a global event and award. Some of the other countries from where fintech startups had applied include the US, France, Hungary and Israel.
Each of these startups has a model it employs in the fintech space; some are into lending, many provide a host of services using technology.
Once the winning startup is chosen, the company will also get an opportunity to be a part of Paris Fintech Forum 2020.
Some of the past winners include popular names like Capital Float, ZestMoney and Oz Forensics. These winners at IFTA have gone on to raise over a billion USD in funding from VCs till date.
The India FinTech Forum claims it offers a platform for fintech companies to collaborate and voice opinion on the relevant policy issues.
The 18 shortlisted fintech startups are:
Active.Ai (Singapore), a Conversational AI platform built specifically for BFSI with deep capabilities of enabling Transactions, Service Requests, Enquiries and FAQs.
CreditMate (India), a platform that provides 100% data secured, real time collections performance for lenders and our Machine Learning algorithm improves collection resolution rates at all stages of delinquency.
CreditOn (India), which enables large entrenched lenders to transform themselves into nimble digital lenders at scale consistent while preserving portfolio quality.
CredoLab (Singapore), a startup that uses smartphone device data to generate a behavioural score for the customer that predicts her probability of defaulting.
Fintuple Technologies (India), an investor portfolio management platform.
Jai Kisan (India), a fintech platform catering to rural emerging markets, providing risk adjusted return to lenders and a low cost of capital for the borrower through subvention, securitization, an asset light model to lower distribution costs to create technologically enabled channel partner outlets with existing rural stakeholders brands and next generation credit assessment.
Lokyata (USA) - Lokyata provides AI/ML- driven customer analytics for social impact lenders to better understand their customer base, provision scores across multiple dimensions of the customer profile, and engage the customers using AI/ML transparency technology that provisions "decision codes" used to generate personalized messages.
Neener Analytics (France) - Neener Analytics is the leader in computational social science and the only social media analytics technology that delivers specific, individual, risk outcomes in a 100% friction-less environment.
Partnerhub Ltd (Hungary) – The company provides its customers own branded invoice – related services for their SME customers which enables them to issue, process and pay their e-invoices with just a couple of clicks which saves time & money.
Rewire (Israel) – Rewire is an international remittance platform for migrant workers, who usually transfer most of their income to their countries of origin.
Riskcovry InsurTech Platform (India) - AI enabled health insurance claim APIs, which can be integrated into a natural messaging experience like WhatsApp. Policy holders or agents can now submit health insurance claims in under 5 minutes, with Riskcovry AI being able to enrich the experience by guiding the user through a personalized, simple and secure process.
Think Anlaytics (India) - Think Analytics is an advanced analytics and technology start up with considerable experience in building AI & ML frameworks and solutions. Their product Algo360 is comprehensive data underwriting solution for ‘new to credit’ segment.
Valocity Global (Australia) - Valocity transforms end-to-end valuation process for banks. The platform connects the entire valuation ecosystem through a smart cloud based platform that digitises the workflow for seamless automation while capturing data from end to end to enable address validation (including a Valuers’ App), valuation benchmarking and analytics, and essentially a faster mortgage valuation process that removes collusion and enables global best practice regulatory compliance.
Vested Finance (USA) - Vested simplifies US stock investing for investors based in India. Users can now invest in companies they know and use, such as Amazon, Google, Starbucks and more in a commission-free and in an end-to-end online process via this platform.
Vymo (USA) - Vymo is an intelligent Personal Sales Assistant; it captures sales activities automatically and predicts ‘next best actions’ intelligently. Vymo has 100,000 users in 50+ large enterprises such as AXA, Allianz, Generali, and Sumitomo. Vymo is a Gartner Cool Vendor and funded by Emergence Capital and Sequoia Capital.
Xtracap Fintech India (India) - Bridge2capital is a product built on the principle of reverse Factor. The app is the first app in India, which provides funds to Small business for the purchase of their bills from GST registered suppliers.
Yobee Research (India) – Yobee Research uses AI & Data Science to generate high probability & actionable trading signals. Signals are generated by multiple neural network for top 500 traded companies (representing 99.97% of daily trading volume). These signals are combined to produce one signal per company. Signals that qualify by having a minimum probability threshold will be delivered to customers for his final action.