Fintech is the newest and fastest way to process and deliver financial services. Whether you know it or not, you probably use some kind of fintech application right now, like Zelle or Venmo.
Fintech applications include payment apps like PayPal or Apple Pay, robo advisors and P2P, lending and investment apps and cryptocurrency. While fintech should not be confused with a lending institution like a traditional bank, most banks today use some form of fintech.
New York City is the financial market capital of the world, so it only stands to reason that it’s the fintech capital as well. The fintech market in NYC is exploding, and that includes fintech startups.
Fintech Deal Day Powered By Benzinga will be hosted Dec. 8, 2022 at the luxurious Pier Sixty in New York City. The dozens of fintech leaders appearing at Fintech Deal Day include Catherine Clay of Cboe Global Markets, Daniel Pipitone of TradeZero and Richmond Bassey of Bamboo.
New York City Fintech Startups
The world of fintech is exciting, and nowhere more so than fintech startups. According to CB Insights’ 2021 State of Venture Report, a record $132 billion in funding was raised in 2021 for fintech.
Of that $132 billion, $53 billion was raised for startup fintechs in NYC alone. Here are five fintechs from the Big Apple to watch:
Volant Trading
Volant Trading provides tech, trading and execution services in markets worldwide. The platform is designed to be used by professional traders via the company’s software and technology applications. Volant software technology analyzes data and discovers opportunities where it can trade and produce value derivative sets. The company is based in NYC.
Teampay
Teampay specializes in controlling employee expenses for small to medium-sized businesses. The Teamplay platform allows management to track and control these expenses. While this adds value to your company, the real value Teampay provides is its ability to feed data directly into accounting programs like Quickbooks, allowing for a more in-depth analysis of your company’s spending habits.
Alloy
Founded in 2015, Alloy develops a powerful identity verification platform used mainly to help companies detect fraud. The platform is employed mainly by banks, and helps them make identity management easier and more effective. The company has 164 employees in NYC alone.
Chainalysis
Chainalysis works with government agencies, banks and businesses to provide blockchain data and analysis. The blockchain-based data platform helps transform fintech by providing the tools for risk management, compliance and investigation. The company was founded in 2014.
Venmo was founded in 2009.
Policygenius
Policygenius is not an insurance company. Instead, employing modern software technology, it’s the nation’s leading online insurance marketplace. Founded in 2014, the online insurance broker offers all types of insurance including life, home, health, long-term disability, auto and pet insurance. Policygenius helps customers get the best quotes from more than one company in just a matter of minutes.
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