BI Intelligence The world of fintech is exploding, and that growth means the space is becoming increasingly competitive.
Companies are jockeying for position to serve the different sectors that fintech is disrupting, but a few in particular have risen to become the cream of the crop.
Fintech Innovators has ranked the top 100 fintech companies on its Leading Global Fintech Innovators 2015 list, and these three disruptive companies placed at the top.
The first is ZhongAn, a Chinese online property insurance company co-founded by Alibaba chairman Jack Ma in 2013. The company uses big data technology to help with product design, automatic underwriting, automobile claims, precision marketing, and risk managment. It focuses primarily on health, travel, and accident insurance.
ZhongAn is the first company in China to receive an online insurance license.
The second is Oscar, a New York-based company with the goal of simplifying the healthcare experience. Oscar employees tech and healthcare experts who examine the current U.S. healthcare system to identify ways to streamline healthcare delivery. To that end, the company is reinventing how to manage healthcare, process medical claims, reduce healthcare costs, and increase transparency.
The third is Wealthfront, based in Palo Alto. This automated investment service combines financial expertise and leading technology to offer elite investment management at a price that the average investor can afford. Wealthfront wants to bring the same level of financial advice that major financial institutions and private wealth managers offer (such as tax-loss harvesting) without the high account minimums and costs.
Each of these companies is part of the most profound era of change for financial services companies since the 1970s brought us index mutual funds, discount brokers and ATMs.No firm is immune from the coming disruption and every company must have a strategy to harness the powerful advantages of the new fintech revolution.The battle already […]
