Recognized for using artificial intelligence to transform financial services
Earnix, a global provider of real-time AI-driven rating, dynamic pricing, product personalization, and fully operationalized telematics solutions for Insurance and Banking, today announced that it has been named in the 2022 AIFinTech100 list by FinTech Global. This is the second time Earnix has been honored with this prestigious ranking which highlights the world’s most innovative solution providers developing artificial intelligence (AI) and machine learning technologies to solve challenges or improve efficiency in financial services.
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“The FinTech Global AIFintech100 list emphasizes the importance of advanced analytics and machine learning algorithms for financial services companies as a basis for analyzing the vast amounts of information needed to create the personalized offerings customers demand,” said Reuven Shnaps, Ph.D., Chief Analytics Officer, Earnix. “I anticipate continued acceleration of digitization and the need for personalization, and this honor celebrates Earnix’s ability to provide leading insurers and banks the advanced machine learning and AI technology needed to transform their operations and meet customers evolving expectations.”
The adoption of AI and data analytics solutions by financial institutions has exploded over the last two years accelerated by technological advancements, increased use of digital channels, and shifting regulatory frameworks. Additionally, the potential cost savings for banks from AI applications is estimated to reach $447bn over the next 12 months.
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As a result, the number of tech providers employing AI or data solutions to solve challenges in areas such as banking, insurance, customer experience, investment & trading and compliance has skyrocketed. This made the selection process for this year’s AIFinTech100 list extremely competitive as the finalists were selected by a panel of industry experts and analysts based on research produced by FinTech Global on over 2,000 FinTech companies.
FinTech Global director, Richard Sachar, said, “Now, more than ever, established financial institutions need to be aware of the latest AI and data analytics technology in the market to deliver competitive financial products and reach new customers. The AIFinTech100 list helps senior decision-makers in the industry filter through all the vendors in the market by identifying the market-leading AI innovators which will have lasting impact on the industry.”
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