FINTECH is on the rise this 2017.
Fintech startups have created financial products that allow customers to enjoy easy payment processes, money transfers, and financial advice via a site or an app. The best part? Since transactions are done online, they can be processed and finished in mere minutes!
Gone are the days when you had to go to the bank, talk to a financial advisor or wait a day to receive money. With fintech, all you need is to avail of the right tools to make your life easier.
In fact, the numbers show that the industry’s growth is far from over. According to an Accenture study, the industry acquired $5.4 billion in investments in the first quarter of 2016. Another study by Statista estimates that banks in North America will spend about $19 billion in financial technologies. This level of growth is a huge leap, but it’s not surprising.
In recent years, fintech startups have created services that can change the way you do business.
Best Fintech Startups
Interested to find out what these startups and services are? In this article, we’ll talk about Best Fintech Startups you need to watch out for this 2017.
Best Fintech Startups
The full article can be read here.
8. IdentityMind Global
IdentityMind Global is a fintech startup that serves financial service firms, fintech leaders, and bitcoin marketplaces. It’s best known for its eDNA technology that allows users to evaluate the digital identity of individuals who they’re transacting with.
A digital identity is a set of attributes that consists of email, phone, passport, fingerprint, payment and IP geolocation. The digital identity evolves over time. As users transact with other users, their eDna grows in real-time.
Users with a trusted digital identities have a clean behavior across their financial transaction. They have no ties to non-trusted identities. On the other hand, digital identities of fraudsters and criminals change quickly making them easy to identify.
With the eDna technology, IdentityMind Global enables users to transact only with people they can trust.
Last year, the company has raised $12 million. Since its the pioneer of eDNA technology, the startup is definitely a standout in the fintech industry.