Global Meetup 21 – Day 2: Financing the future

Get to know the top 11 startups in the industry of Finance & Regulation. Who is your favourite? Cast your vote now and help your favourite win the exposure they deserve during the Global Final Battle!
Voting closes on 4 March.

Apiax

Switzerland

Financial Technology

Description:

Apiax provides APIs to transform government regulations, industry compliance regulations and other policies into digital rules for financial institutions such as banks, fund managers or fintech company. In its core, there is a regulatory repository which gets updated in timely manner to convert them into rules which could improve and manage adherence to regulations for finance industry.

 

The problem
The ever-growing number of regulations makes it hard for businesses to grow into new markets, win new customers, and it increases the personal compliance risk of every employee.

 

The solution
We provide our clients a platform, which allows them to manage their compliance framework purely digital and digital compliance rules which can be integrated into any application or business process within their organization. This provides their workforce instant compliance intelligence to any question they have.

Website
Share
Voting has ended

ComplyCloud

Denmark

Legal services

Description:

ComlyCloud is a specialized GDPR lawyer, working 24/7 and built of software and 27 millon algorithms.

 

The problem
All companies must adhere to GPR to ensure digital trust. The ability to comply with applicable law is a vital pillar in all democratic societies and is paramount to trust from customers, partners etc.

 

The solution
We are democratizing GDPR compliance. All companies – big and small – can become and stay compliant by using our SaaS. The SaaS generally functions like a GPR specialized lawyer that works 24/7 at a fixed cost and provide advice and documentation.

Website
Share
Voting has ended

EAGLYS Inc.

Japan

Big data
Computer Software
Financial Technology

Description:

EAGLYS is committed to creating value for our customers and their clients by securing their data and their privacy, while at the same time allowing our direct customers to have access to, exchange, and safely process data that would otherwise be inaccessible or heavily redacted. This allows for greater precision in analysis of data and machine learning model creation.

 

The problem
Our technology allows for processing over encrypted data, without ever decrypting it. Depending on the type of processing we utilize fully homomorphic encryption or various other strategies to allow for complete processing over encrypted data. Our first product allows for the encryption of data in a target database and then encrypting all queries that are targeted at such database; this results in a completely encrypted database even while database operations are executed, quite in contrast with current applications such as TDE that decrypt parts of the database for processing. This also allows for an encrypted lifecycle of any query that is sent past a specific edge point (the product itself) as any interceptor would not be able to reasonably identify what queries are being processed. Additionaly we offer the encryption of AI models that can process such encrypted data, enabling our customers the flexibility of utilizing encrypted data from sources otherwise unavailable, or even exposing their AI models in AIaaS scenarios – enabling the processing of customer data without revealing the specifics of the data.

 

The solution
By enabling our customers to process private and confidential data that they would not be able to access, or exchange previously, we help them to widen their insights as well as customer base. Conversely by enabling the safe operation over such critical data regardless of location we promote the use of cloud and endge computing for cases in which it would not be feasible or safe to do so. We look forward to helping our customers utilize the data they have while preserving the confidentiality and respecting the privacy of their clients in turn.

Website
Share
Voting has ended

Facenote

Argentina

Financial Technology

Description:

Facenote Selfie Wallet is a frictionless payment method to pay with your face at the stores you buy repeatedly like beauty salons, coffee shops, bars, convenience stores, gyms and shopping malls. Think invisible payments for physical store.

 

The problem
Facial recognition has been on the rise for the past 10 years, mostly focused on security, asset protection and loss prevention. This generated a feeling of “creepiness” that 2 years ago started to disappear. We, as consumers are feeling ok now about unlocking phones with our face. Since our beginning, we developed our tech to be 100% privacy oriented (customers take a selfie to participate), and GDPR compliant. This is a major advantage compared with our main competitors.

 

The solution
After 3 years working on facial recognition, and after 20 years combined working as for the fintech industry as well as e-commerce and retail , we discovered an opportunity to join this two areas of knowledge we have altogether. Invisible payments are growing at an incredible rate, and this trend will move into everyday payments. Imagine entering a Starbucks, grabbing a coffee, say goodbye and leave, with the payment done in an invisible way, just by showing up (like Uber). Facial payments are already growing at an accelerated pace. Companies like Tencent and AliExpress are already deploying solutions and replacing QR and older forms of payments. In Europe, banks are moving in the same direction, as BBVA just acquired Das Nano (Veridas), one of our competitors. Privet Bank also just launched a collaboration with VISA for facial payments. After the VISA EVERYWHERE INITIATIVE aweard, and ongoing bank pilots, we are well positioned to disrupt the $3TN payments industry

Website
Share
Voting has ended

fiskaly GmbH

Austria

Business Products
Legal
Retailing &
Distribution
Security

Description:

We’re tackling European fiscal legislations at the PoS – “cash-register regulations” – you have more than 25+ legislations to comply with, if you’re going to offer OTC transactions eg. at Uber – we’re getting them compliant, already in Austria, expanding our operations to Germany at the moment. Here a new legislative change is forcing 2.5M+ PoS to integrate a technical security system, which we build in a pure cloud-based solution, no hardware, no field management and lots of benefits by building a whole eco-system around it.

 

The problem
European fiscal legislations at the PoS – “cash-register regulations”

 

The solution
Innovative POS systems for retailers, businesses, and POS retailers — and everyone in between

Website
Share
Voting has ended

Hyperion Technologies Ltd (KYC Hub)

United Kingdom

Financial Technology

Description:

KYC Hub helps firms mitigate risk of financial crime using AI

 

The problem
Financial crime causes UK economic losses of £190Bn linked to fraud and £100Bn+ linked to money laundering (National Crime Agency, 2017/2020). Firms need to know more about who they do business with, and gain an understanding of hidden risks and relationships that may negatively impact them (e.g. ethics, corruption) to mitigate risks of aiding crime inadvertently. Additionally, businesses are more conscious than ever to understand environmental, social and governance (ESG) performance within networks, e.g. supply chain child labour (Apple, Business Insider, 2020). Consequently, firms invest heavily in understanding customers, suppliers and partners better, including enhanced due diligence, customer risk assessment, investigation and case management; software and teams of staff to perform manual, detailed investigations. Despite ongoing investment, they can incur extensive fines for breaches e.g. BNP Paribas fined $8.9Bn (NY Times, 2014). However, businesses can have opaque and complex corporate structures and networks which link them to, e.g. red flag individuals, countries, corruption, politically exposed persons (PEP’s), adverse media coverage and sanctions or engage in suspect transactions. Whilst most due diligence processes provide a basic insights, it isn’t enough to qualify all risky connections/activities including ‘hidden connections’. Extensive onboarding checks are undertaken, but businesses don’t have technology to monitor risks, transactions, and connections continuously. Complex patterns/entity relationships are not discerned due to limited manual investigations and siloed data.

 

The solution
Hyperion Technologies Ltd operating with the product name KYC Hub is a UK tech start up formed in 2018. KYC Hub enable firms to mitigate the risk of fraud and financial crime using AI and data intelligence. KYC Hub is a SaaS platform for global customer onboarding, monitoring and compliance that enables faster and more accurate KYC/KYB and AML by a full-stack, modular, automated approach. Our systems help businesses to minimize criminal activities and be fully compliant with AML regulations within their operational territories; better decisions faster. Our products – We have developed a network-based graph analysis tool (NetDetect) that provides a full picture of an entity and associated connections and risks. CAMI (Contextual Adverse Media Intelligence) to provide cutting edge enhanced due-diligence for our clients. Our monitoring solution include KYC/AML capabilities including: Transaction monitoring system – combines internally defied rules with a suite of machine learning algorithms trained on the bank’s dataset in order to calculate individual transaction risk score. Know Your Customer/Know Your Business onboarding – combines ID/corporate verification, AML checks (including video liveness, anti spoofing). We use AI (NLP, deep learning models, computer vision) extensively and a cloud-based infrastructure to provide real-time verifications and alerts across 180+ countries with connection to financial crime information, sanctions lists, watchlists and other databases internationally with instant updates. Fully transparent and traceable to facilitate compliance and minimise false positives. We are looking to launch our state of art adverse media analysis and alerts solution and network analysis (graph based visualisation) for ongoing client and supply chain management.

Website
Share
Voting has ended

Lizuna

Japan

Computer Software

Description:

We help eCommerce prevent chargeback and online fraud.

 

The problem
We are trying to help eCommerce companies stop online fraud orders. When a merchant receives bad orders, the merchants can have their payments reversed from the bank and at the same time losing their product. They also get charged additional fees and lose shipping cost and not to mention the HR time associated with the fraud orders.

 

The solution
Our system uses several technologies that include Automation, Big Data, and AI, to quickly stop online fraud orders before the merchant loses the money and their product. Fraud behaviors are always changing and bad-actors are always trying to find new ways to steal from both merchants and people who are unaware their payment information is at risk of being used to make fraudulent purchases by a third party.

Website
Share
Voting has ended

RTSmunity

Czech Republic

Gaming

Description:

RTSmunity is creating the most profitable esports betting odds on the market, utilising machine learning and quantitative modelling.

We provide our live betting odds to top European operators, and we also trade them on international betting exchanges.

 

The problem
Profitability of esports betting operators. Today, most of sportsbetting operators are either making very low profit margins on esports, or even losing money.

 

The solution
By utilising our superior AI models and machine learning, we are able to achieve profits over 10%. That is more than double the industry average.

Website
Share
Voting has ended

SPIN Analytics

United Kingdom

AI/VR/AR

Description:

Provider of an AI-driven platform intended to automate credit risk management and regulatory compliance for financial institutions and corporations. The company’s software Riskrobot implements credit risk models development and maintenance by leveraging predictive analytics, AI and ML techniques on big data, thereby drastically reduces time and manual effort, boosts efficiency and helps clients to increase the accuracy of their forecasts and implements credit risk models development and maintenance by leveraging predictive analytics, AI and ML techniques on big data, enabling business and financial leaders to reformulate their challenges and Convert Data into actionable intelligence.

 

The problem
Banks and Corporations use several statistical packages for developing and maintaining Regulatory Credit Risk Models, but the process still remains manual, time consuming (usually at least 6-9 months per model), highly demanding in risk experts and extremely costly (between $300k-$1,5m for the first-year development stage and 1/3 of this cost for every year after that for the validation process). Each Bank uses hundreds or thousands of models.

 

The solution
SPIN Analytics developed RISKROBOT, an AI-driven platform that fully automates the Credit Risk Management lifecycle of financial institutions and corporations. Product Analysis: RISKROBOT is a credit risk modelling, validation and management AI platform for regulatory risk requirements in the aftermath of the recent financial crisis. The product is the result of more than 28 years of credit risk-modelling experience and R&D by the team as well as their collective work across major multinational banks.

Website
Share
Voting has ended

Stride.ai

United States

Financial Technology

Description:

We enable organizations to develop, test, and deploy intelligent automation solution without writing a single line of code

 

The problem
For large organizations, automation holds the key to their success. The current options are: Rule based systems can automate only 20% of the processes Intelligent Automation: 1) Complex in terms of data labeling, testing, and integrations 2) Months of development time 3) Expensive in terms of cost and hardware resources However the adoption rate of AI based automation is no more than 6% in Banks and Financial institutions. This is the problem we solve using our platform.

 

The solution
We enhance operational productivity for large banks and financial institutions.

Website
Share
Voting has ended

Ü Impact

Germany

Financial Technology

Description:

We provide sustainable investment as a service for fund providers and banks.

 

The problem
There is a lack of transparency on sustainable investment products for the individual investors. These private investors have money sitting dormant in their savings accounts earning no interest. The world also requires substantial investment from the private sector to fund the transition to a sustainable and low carbon world.

 

The solution
We are building a sustainable investment solution, that enables users to invest the right way – grow their wealth & make a positive impact. We are here to establish the emotional connection between people and the cold hard financial world. We break down the funds, overlay additional sustainability data & insights to the fund, and present this to the user in a simple way. Investors can make investment selections based on the causes they care about.

Website
Share
Voting has ended