New York is known for its financial powerhouses, but a new wave of innovation is sweeping the city – FinTech startups.
These companies are changing the way we handle money, bringing fresh ideas and cutting-edge technology to the finance world.
In this blog, we’ll explore some of the most exciting FinTech startups New York.
From those making banking easier to those pioneering new ways to invest, we’ll introduce you to the players who are reshaping finance in the Big Apple.
So, let’s dive in.
Alloy is the global end-to-end identity risk solution that helps banks and FinTech companies automate their decision-making and helps them focus more on real customers and less on fighting fraud.
Using a single API, the platform connects banks and FinTechs to the data they need to understand their customers’ behavior right from the start.
This leads to better customer conversion, reduced fraud, and smoother onboarding.
In February, they introduced Alloy for Embedded Finance – a product designed for sponsor banks, BaaS providers, and their FinTech partners.
The solution allows them to collaboratively manage identity risk while meeting regulatory requirements. (Source)
Tommy Nicholas, CEO of Alloy, recently shed light on the future of fraud prevention and onboarding best practices in a video series with Co-founder and CEO of Cable, Natasha Vernier.
As among the best FinTech startups New York, Chainalysis offers a blockchain analysis solution.
Founded in 2014 by Michael Gronager, Jan Møller, and Jonathan Levin, it was the first startup to focus on tracking Bitcoin transactions.
They provide data, software, services, and research to government agencies, exchanges, financial institutions, and insurance and cybersecurity companies in over 70 countries.
Amidst a rapidly changing crypto ecosystem, Chainalysis welcomed Emmanuel Marot as VP of Product.
Under his leadership, Chainalysis is looking forward to driving innovative solutions that empower both their public and private sector customers to navigate the dynamic landscape ahead. (Source)
Chainalysis’ Jackie Burns Koven, Head of Cyber Threat Intelligence is interviewed and Amit Kumar, Partner at Accel shares how to mitigate risks and build trust in emerging spaces, drawing from her work across the cryptocurrency and blockchain landscape.
Ocrolus is one of the top FinTech startups in New York that provides a document AI platform that helps make financial decisions faster and more accurately.
It can analyze all kinds of documents with over 99% accuracy, whether they’re bank statements, pay stubs, or tax forms.
Ocrolus is trusted by over 400 clients to detect fraud, analyze cash flows and income, and make better decisions.
Companies like Enova, PayPal, Brex, CrossCountry Mortgage, Plaid, and SoFi use Ocrolus to enhance their user experiences through automation.
In March, Ocrolus announced its upcoming rep and warranty coverage for a majority of income types and loan products. (Source)
Ocrolus CEO Sam Bobley was recognized by Inman as one of the top executives in the mortgage and finance sector for the second consecutive year.
The Inman Best of Finance Award honors those pushing the envelope and reshaping the homebuying space.
YieldStreet is an online platform where you can invest in various assets.
It offers opportunities that aren’t tied to the stock market, aiming for returns of 8-15%. You can invest in things like legal cases, real estate, and other alternative investments.
YieldStreet aims to provide a unique and valuable investment experience for everyone, helping to diversify and strengthen the user’s portfolio.
In March, Yieldstreet announced a new partnership aimed at giving more people access to high-quality alternative investments.
By blending their advanced technology and knowledge of private markets with Wilshire’s years of experience in data, analytics, and thorough research, this partnership promises a complete solution for investors looking to diversify and passively invest in private markets. (Source)
Democratizing access to alternatives is Yieldstreet’s mission, and CIO Ted Yarbrough joined Bloomberg Intelligence’s weekly podcast to talk about sourcing deals, leveraging technology, and the importance of education when combining illiquid investments with retail clients.
Better is a New York FinTech startup that focuses on helping people buy homes using digital tools. They offer services like mortgages, real estate help, title services, and homeowners insurance.
Since they started in 2016 until mid-2021, Better has funded over $45 billion in home loans and provided more than $25 billion in insurance through Better Cover and Better Settlement Services.
They’ve also raised more than $400 million from investors.
Kelly Miskunas, Senior Director of Capital Markets at Better, shared expert insights with CBS MoneyWatch on how the economy is putting upward pressure on home prices.
Policygenius uses advanced tools and real licensed agents to make sure you can protect your family, home, and money without stress.
Whether you’re figuring out your insurance options or adjusting policies as your life evolves, Policygenius supports you every step of the way.
Since 2014, they’ve assisted more than 30 million people in finding insurance and secured over $150 billion in coverage.
Since 2007, OnDeck has been supporting small, tech-savvy businesses with a user-friendly platform that gets loans approved faster than traditional banks.
Despite facing a tough recession, they successfully fundraised and went public in 2014.
OnDeck is now recognized as one of the leading FinTech startups in New York, playing a key role in the city’s financial growth.
Many other successful FinTech firms in the city owe a debt of gratitude to OnDeck for paving the way.
Riskified is the biggest fraud prevention service for online shopping. They provide tools that help businesses create trustworthy brands.
Trusted by major retailers like Finish Line and Canada Goose, Riskified lets companies focus on offering reliable customer service and sales experiences.
Their technology platform uses artificial intelligence to distinguish between fraudulent and genuine customers.
Riskified recently unveiled product innovation to accelerate profitable growth for e-commerce merchants at the annual fraud summit, Ascend 2024. (Source)
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