Of all the sectors where digital is having an impact, financial technology or "fintech" has been one of the biggest growers in recent years. Here are some of the finest fintech startups currently in the business.
No list of the hottest fintech startups would be complete without TransferWise, which recently attracted over $58 million in a new round of funding, attracting investment from Andreessen-Horowitz, Richard Branson and Valar Ventures. Its innovative service bypasses banks through direct peer-to-peer transfers, avoiding hidden fees. Founded by Taavet Hinrikus and Kristo Käärmann, TransferWise claims to offer faster international money transfers and savings of up to 90 percent compared to bank services.
The first start-up to be funded and supported by the University of Cambridge, Cytora provides banks and other organisations with real-time data about geopolitical risks such as invasions or insurrections. Its detection technology is deployed against the contents of the entire web to monitor events as they unfold and provide updates. The web-based programme was recently selected to participate in Accenture’s FinTech Innovation Lab London.
This app gamely tackles the relatively unglamorous but admittedly vital world of invoicing. Yes, it would be a stretch to call it the Tinder of the FinTech world, but its target audience will find much to get excited about in this free platform. Invoiceable increases convenience for businesses by allowing users to manage and send professional-quality invoices in a small amount of time.