Saturday, 27 April 2024

AI Listing

Promising companies in generative AI for financial services
The field of generative artificial intelligence (AI) in finance is nascent and dynamic. Given the high levels of interest around AI, financial services companies, fintechs and others are keen to adopt AI technologies into their products and services.  Any list of promising companies in the industry must therefore distinguish ‘announcements’ and ‘intentions’ from veritably deployed products and services that are being validated by the market. This list was compiled based on research into the team and investors of each company, as well as their partners and awards, current products and services, as opposed to those announced for the future, and publicly-available customer testimonials and case studies. In and of itself, revenue-to-date was not a criterion for exclusion.


Vision Leader Insights

Conversational AI platform for customer experience management for banks, using AI to understand and follow complex customer interactions, and assist customer service agents to enable improved customer experience.

Jon Newhard
CEO

SECTORS, Banking and finance: Front Office
  • Conversational finance and user queries
  • Personalised products
COUNTRY, USA
TOTAL AMOUNT RAISED ($M), 60
POST-MONEY VALUATION ($M), NA
YEAR ESTABLISHED, 2015
WEBSITE, https://clinc.com/
INVESTORS, National Science Foundation, Insight Partners, Hyde Park Venture Partners, DFJ Growth, Drive Capital

AI powered-platform for customer support management with faster resolution times and lower cost of resolution for each customer support ticket. Works with leading financial service companies.

Deon Nicholas
CEO/Founder
SECTORS, Banking and finance: Front Office
  • Conversational finance and user queries
  • Personalised products
COUNTRY, USA
TOTAL AMOUNT RAISED ($M), 92
POST-MONEY VALUATION ($M), NA
YEAR ESTABLISHED, 2017
WEBSITE, https://forethought.ai/
INVESTORS, Y Combinator, Techstars, National Science Foundation, EASME, MassChallenge

Conversational finance platform for customer management to engage with customers effectively, enhancing conversion rates at a lower cost of acquisition.

Aakrit Vaish
CEO and Co-Founder
SECTORS, Banking and finance: Front Office
  • Conversational finance and user queries
  • Personalised products
COUNTRY, India
TOTAL AMOUNT RAISED ($M), 7
POST-MONEY VALUATION ($M), NA
YEAR ESTABLISHED, 2013
WEBSITE, https://www.haptik.ai/
INVESTORS, Kalaari Capital, Times Internet, Vivek Kumar

Develops AI-driven personalised banking solutions from real-time insights to recommendations and automated money management. Works with leading banks and financial service providers like KBC, Santander and DBS.

David Sosna
CEO and Co-Founder
SECTORS, Banking and finance: Front Office
  • Conversational finance and user queries
  • Personalised products
COUNTRY, Israel
TOTAL AMOUNT RAISED ($M), 192
POST-MONEY VALUATION ($M), NA
YEAR ESTABLISHED, 2010
WEBSITE, https://personetics.com/
INVESTORS, Sequoia Capital, Lightspeed Venture Partners, Warbug Pincus, Viola Ventures, Nyca Partners

Offers feeback analysis for customer success management, using natural language reports, to analyse and present the important themes to increasing customer retention based on the urgency of the customer feedback language, customer tiers and churn risk.

Daniel Erickson
CEO/Founder
SECTORS, Banking and finance: Front Office
  • Conversational finance and user queries
  • Personalised products
COUNTRY, USA
TOTAL AMOUNT RAISED ($M), 11
POST-MONEY VALUATION ($M), NA
YEAR ESTABLISHED, 2020
WEBSITE, https://www.askviable.com/
INVESTORS, Bossanova Investimentos, Streamlined Ventures, Craft Ventures, Javelin Venture Partners, GTMfund

Lucinity makes it simpler for compliance professionals to navigate the complexities of financial crime (FC) prevention, delivering AI based augmented intelligence to help FC teams operate with enhanced precision and insight. Works with leading financial service providers like SEON, Experian and Neterium.

Gudmundur Kristjansson
CEO and Founder
SECTORS, Banking and finance: Middle Office
  • Financial data extraction and report generation
  • Leading decision and risk management
  • Compliance and risk management
COUNTRY, Iceland
TOTAL AMOUNT RAISED ($M), 25
POST-MONEY VALUATION ($M), NA
YEAR ESTABLISHED, 2018
WEBSITE, https://lucinity.com/
INVESTORS, byFounders, Karma Ventures, Keen Venture Partners, Crowberry Capital, Experian

QuantPi is an explainable AI platform that allows enterprises to achieve regulatory compliance. Works with leading organisations like NVIDIA and the German Federal Government.

Philipp Adamidis
CEO and Co-Founder
SECTORS, Banking and finance: Middle Office
  • Financial data extraction and report generation
  • Leading decision and risk management
  • Compliance and risk management
COUNTRY, Germany
TOTAL AMOUNT RAISED ($M), 3
POST-MONEY VALUATION ($M), NA
YEAR ESTABLISHED, 2020
WEBSITE, https://www.quantpi.com/
INVESTORS, Capnamic Ventures, First Momentum Ventures, Mirko Novakovic, Ash Fontana

Provides AI-driven insights and automation for financial institutions for faster financial crime detection, identifying money laundering and preventing fraud. Works with leading financial service providers like HSBC, Nordics Financial and Cecabank.

Romesh Wadhwani
Founder and Chairman
SECTORS, Banking and finance: Middle Office
  • Financial data extraction and report generation
  • Leading decision and risk management
  • Compliance and risk management
COUNTRY, USA
TOTAL AMOUNT RAISED ($M), NA
POST-MONEY VALUATION ($M), NA
YEAR ESTABLISHED, 2017
WEBSITE, https://www.symphonyai.com/
INVESTORS, NA

To assist companies in making informed credit choices, ZestFinance offers an open, transparent and easy-to-use AI-driven lending solution. Zest Automated Machine Learning (ZAML) is their platform for providing explainable AI in credit and automating risk management.

Mike de Vere
CEO
SECTORS, Banking and finance: Middle Office
  • Financial data extraction and report generation
  • Leading decision and risk management
  • Compliance and risk management
COUNTRY, USA
TOTAL AMOUNT RAISED ($M), 318
POST-MONEY VALUATION ($M), NA
YEAR ESTABLISHED, 2009
WEBSITE, https://www.zest.ai/
INVESTORS, Lightspeed Venture Partners, Insight Partners, Matrix Partners, Northgate Capital, Baidu

Workplace search and knowledge discovery engine that allows access to information across all of an enterprise’s apps for better decision-making and operational effectiveness, particularly internal decision-making. Works with leading financial service providers like WealthSimple, Super and Upside.

Arvind Jain
Founder and CEO
SECTORS, Banking and finance: Back Office
  • Banking and Finance: Back office
  • Legacy software maintenance and modemisation
  • Regulatory requests automation
COUNTRY, USA
TOTAL AMOUNT RAISED ($M), 155
POST-MONEY VALUATION ($M), 1000
YEAR ESTABLISHED, 2019
WEBSITE, https://www.glean.com/
INVESTORS, Sequoia Capital, Kleiner Perkins, Lightspeed Venture Partners, General Catalyst, Slack Fund

Database management platform that lets users update, explore and visualise data collaboratively, without needing to be an expert in database operations, using natural language programming (NLP) to translate human language into structured database queries.

Brandon Strittmatter
CEO/Co-Founder
SECTORS, Banking and finance: Back Office
  • Banking and Finance: Back office
  • Legacy software maintenance and modemisation
  • Regulatory requests automation
COUNTRY, USA
TOTAL AMOUNT RAISED ($M), 0.5
POST-MONEY VALUATION ($M), NA
YEAR ESTABLISHED, 2022
WEBSITE, https://outerbase.com/
INVESTORS, Y Combinator, Surface Ventures

Uses AI to match job candidates with financial roles based on cognitive and emotional traits. It is a soft-skills platform focusing on hiring and talent management using data- driven behavioral insights and AI. Works with banks and asset management companies.

Frida Polli
CEO and Founder
SECTORS, Banking and finance: Back Office
  • Banking and Finance: Back office
  • Legacy software maintenance and modemisation
  • Regulatory requests automation
COUNTRY, USA
TOTAL AMOUNT RAISED ($M), 57
POST-MONEY VALUATION ($M), NA
YEAR ESTABLISHED, 2011
WEBSITE, https://www.pymetrics.ai/
INVESTORS, MassChallenge, Khosla Ventures, Salesforce Ventures, General Atlantic, BBG Ventures

Platform for accounting and fraud detection using an AI driven accounts payable engine and integrated autonomous approval flows for financial back-office operations.

Alexander Hagerup
CEO and Co-Founder
SECTORS, Banking and finance: Back Office
  • Banking and Finance: Back office
  • Legacy software maintenance and modemisation
  • Regulatory requests automation
COUNTRY, USA
TOTAL AMOUNT RAISED ($M), 115
POST-MONEY VALUATION ($M), NA
YEAR ESTABLISHED, 2017
WEBSITE, https://www.vic.ai/
INVESTORS, GGV Capital, ICONIQ Growth, Costanoa Ventures, Cowboy Ventures, Connectivity Venture Fund

The company utilises natural launguage programmng (NLP) and Al to extract insights from millions of documents across earnings, broker research, company documents, expert calls, and more to make smarter business decisions across a company's operational domains.

Jaakko Kokko
Founder & CEO
SECTORS, Investment and wealth management
  • Data extraction for business and clent management
  • Training
  • Portfilio management
COUNTRY, USA
TOTAL AMOUNT RAISED ($M), 593
POST-MONEY VALUATION ($M), 1800
YEAR ESTABLISHED, 2011
WEBSITE, www.alpha-sense.com
INVESTORS, EASME, BlackRock, Morgan Stanley, Innovation Endeavors, Bank of America

Briink is building AI infrastructure to help sustainable finance workers understand ESG, providing advice on ESG data and reporting systems. Works with leading companies like Continental, LightRock and Coller.

Tomas van der Heijden
CEO and Co-Founder
SECTORS, Investment and wealth management
  • Data extraction for business and clent management
  • Training
  • Portfilio management
COUNTRY, Germany
TOTAL AMOUNT RAISED ($M), NA
POST-MONEY VALUATION ($M), NA
YEAR ESTABLISHED, 2021
WEBSITE, https://www.briink.com/
INVESTORS, Merantix

Mistral outlines a mission to push AI forward, to serve the open community and our enterprise customers. To reach such goals, Mistral is committed to driving the AI revolution by developing open-weight models that are on par with proprietary solutions.

Arthur Mensch
Cofounder & CEO

SECTORS, Generative artificial intelligence for a variety of pan-industry applications, especially large language models
COUNTRY, France
TOTAL AMOUNT RAISED ($M), $528 million
POST-MONEY VALUATION ($M), $2 billion
YEAR ESTABLISHED, 2023
WEBSITE, https://mistral.ai
INVESTORS, Andreessen Horowitz, Lightspeed Venture Partners

An AI-powered platform that provides instant financing options for consumers.

Max Levchin
Founder & CEO
SECTORS, Banking and Finance
COUNTRY, USA
TOTAL AMOUNT RAISED ($M), 1,421.74
POST-MONEY VALUATION ($M), 2,900
YEAR ESTABLISHED, 2012
WEBSITE, https://www.affirm.com/
INVESTORS, Spark Capital, Founders Fund, GIC, Light Speed Ventures

An AI-powered platform that provides affordable financing solutions for customers.

David Girouard
CEO
SECTORS, Banking and Finance
COUNTRY, USA
TOTAL AMOUNT RAISED ($M), 145.261
POST-MONEY VALUATION ($M), 10
YEAR ESTABLISHED, 2012
WEBSITE, https://ir.upstart.com/
INVESTORS, First Round Capital Management, LLC
  • Khosla Ventures, LLC
  • Rakuten Ventures
  • Third Point Ventures L.P.
  • Collaborative Fund