The new edition of the AIFinTech100 list for 2022 highlights the world 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 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.
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 and trading and compliance has skyrocketed making the selection process for this year’s AIFinTech100 list extremely competitive.
Permutable – which combines AI and Machine Learning with advanced real-time analytics enabling companies to manage their risk, improve their corporate governance, monitor their supply chains, track sustainability activities and improve stakeholder management and institutional investor ESG alignments – was selected by a panel of industry experts and analysts based on research produced by FinTech Global on over 2,000 FinTech companies.
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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. AIFinTech100 has identified Permutable among the market-AI innovators who will a have a lasting impact on the industry. The list enables senior decision-makers in the industry to filter through all the vendors in the market and identify those market-leading AI innovators transforming the industry.”
Permutable CEO and Founder Wilson Chain said, “Managing reputation with the fintech sector risk requires a major effort by organisations . The only way to remain competitive is by using the latest AI and ML technology and the most up-to-date, high-quality data and monitoring systems. We are delighted to receive recognition of our work in this field.”
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