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AI in Wealth Management: 10 Companies to Watch

AI in Wealth Management: 10 Companies to Watch September 21, 2017Leave a comment
Top 10 Companies Disrupting the Wealth Management

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Are you looking to invest but don’t know where to start? How about needing a financial advisor but don’t really know where to go? AI is the next step when it comes to wealth management, credit lending, and investments. AI learns algorithms, analyzes behavior, and gives pertinent information individualized to your lifestyle.

These 10 companies are disrupting the wealth management industry using AI.


ArgonCredit

ArgonCredit was founded in 2013 and has headquarters in Chicago. The company has received $5.05 million after three rounds of funding. The platform connects borrows to online personal loans for real-time approval or disapproval of their applications. The loans range anywhere from $2,000 to $35,000 and APRs from 4.99% to 149%.

 


Quovo

Founded in 2010, Quovo is located in New York and has received $15.2 million after three rounds of funding. The company provides account aggregation and data analytics for financial accounts. The Smart Account Aggregation puts all financial accounts into one simple to read dashboard while reconciling, transforming, and normalizing data. The Portfolio Analytics is designed for investments so people can see statistics over any period for any of their portfolios. The technology can be used by entrepreneurs, advisors, and financial institutions.


Harvest Exchange

Harvest Exchange has headquarters in New York and was founded in 2012. They have received $9.4 million after three rounds of funding. The company connects financial firms and investors through knowledge. Investors and hedge fund manager can post ideas and views on the website. Readers can access content to make smarter financial decisions. The platform allows users to engage all over the globe.


Cinch Financial

Cinch Financial runs out of Boston, MA and was founded in 2014. They have received $8.85 million after three rounds of funding. The company is an intelligence platform and personal financial manager. They work by combining advanced algorithms, behavioral economics, and decision tooling to determine the best interests of each individual. The platform keeps track of how much money comes in and goes out each month and every other aspect of personal finances.


Zeitgold

Founded in 2015, Zeitgold has headquarters in Berlin and has received $4.49 million in funding after two rounds. The company uses AI for an end-to-end solution for small businesses such as restaurants, craftsmen, cafes, and retailers. Owners can access invoice payments, bookkeeping, collections, and payroll all from a smartphone app. Zeitgold works by sending a box to companies where all paperwork is put in and sent off. Zeitgold takes care of the paperwork and makes it available to the company via the app.


Float

Float is located in Los Angeles, CA and was founded in 2015. They have received $4 million in funding after two rounds from four investors. Float is a financial service that helps young consumers build, manage, and access credit. Float will not access any credit score and it determines whether or not to lend money by accessing the cash flow through a person’s bank account.


Trim

Founded in 2015, Trim has headquarters in San Francisco, CA and has received $2.2 million in funding. The company offers an AI assistant to take care of personal finances. The AI analyzes spending and finds recurring subscriptions that are not in use and where it can save money. It will even negotiate your cable bill and flag Amazon price protection refunds.

 


Novofina

Novofina was founded in 2014 and has received $1.9 million after two rounds of funding. The company offers an AI platform that gives advice on low-risk high-performing investments. The AI learns as it goes while having decades of human experience behind it. The platform allows private investors to trade in the market without any intermediaries, which allows for optimal return.

 


Walnut Algorithms

Walnut Algorithms has headquarters in Paris and was founded in 2015. They have received $1.18 million after two rounds of funding. The company focuses on using the latest data science and machine learning to understand the financial markets. In turn, this provides patterns in the financial markets so customers and can make smarter investments.

 


SimplyCredit

SimplyCredit is located in San Francisco, CA and was founded in 2015. The company has received $1.5 million after one round of funding. SimplyCredit is a lending company that offers no penalty pricing, no fees, and no fine print. The platform keeps track of credit cards from one account and offers cards through their partners.

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