According to KPMG which is an international network of professional firms that offer services in advisory, tax and audit, here are the top financial technology startup companies that are dominating the market.
- Ant Financial Services Group. Advocates in utilizing technology in order to create equal opportunities all over the globe. The startup focuses in technologies such as artificial intelligence, security, computing, blockchain and Internet of Things in order to provide services to both unbanked and underbanked. Since 2017, the company remains at the number one spot.
- JD Finance. A company that specializes in digital technology in order to partner with financial institution. Its goal is to provide services in digital, offline and even online with three major areas in focus – the user, the data and the connectivity. In 2017, the startup company only ranks on the ninth place.
- Grab. Out of all the offline to online platforms in mobile, this is one of the most commonly used by consumers especially in the Southeast Asia region. This is the first time that the company is included in the list.
- Du Xiaoman Financial. Another newcomer to the list, the company offers loans in short-term commitments as well as investment services.
- SoFi. When it comes to online financing, Social Finance Inc offers lending products like mortgages, personal loans and even refinancing for student loan. The previous year saw the company in 11th spot.
- Oscar Health. The startup is trying to make big changes with preventive health care management through the use of machine learning together with big data. Their main goal is to improve transparency and to decrease the current healthcare cost. In last year’s ranking by KPMG, the company placed fourth.
- Nubank. It is responsible in creating a mobile phone application that manages its very own platinum Mastercard for credits. It offers consumers a spending experience that is hassle-free and seamless. It was in the 12th place last year.
The list of startup companies is determined using a number of factors such as average amount raised in one year and the degree of the innovations they have developed regardless if it is in services or with products. When it comes to financial technology, Nadeem Shaikh Anthemis is the expert to look for.