Promising companies in generative AI for financial services
The field of generative artificial intelligence (AI) in finance is nascent and dynamic. Given the high levels of interest around AI, financial services companies, fintechs and others are keen to adopt AI technologies into their products and services.
Any list of promising companies in the industry must therefore distinguish ‘announcements’ and ‘intentions’ from veritably deployed products and services that are being validated by the market. This list was compiled based on research into the team and investors of each company, as well as their partners and awards, current products and services, as opposed to those announced for the future, and publicly-available customer testimonials and case studies. In and of itself, revenue-to-date was not a criterion for exclusion.
Vision | Leader | Insights | |
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Anthropic focuses on creating AI systems that are safe, interpretable, and controllable, aiming to integrate these technologies into financial services to ensure robust and ethical AI applications. |
Dario Amodei |
SECTORS, AICOUNTRY, USATOTAL AMOUNT RAISED ($M), 8,456POST-MONEY VALUATION ($M), NAYEAR ESTABLISHED, 2021WEBSITE, https://www.anthropic.com/INVESTORS, Amazon.com, Google, Menlo Ventures |
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Coreweave specializes in providing scalable and cost-effective cloud computing solutions optimized for machine learning and complex simulations, essential for financial services firms requiring high-performance computing resources. |
Michael Intrator |
SECTORS, AICOUNTRY, USATOTAL AMOUNT RAISED ($M), 11,538POST-MONEY VALUATION ($M), NAYEAR ESTABLISHED, 2017WEBSITE, https://www.coreweave.com/INVESTORS, Fidelity Investments, Coatue Management, Altimeter Capital |
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Cyera secures data across cloud environments in the financial services sector using AI to manage risks related to data misconfigurations, access controls, and sensitive data exposure, ensuring compliance and data protection. |
Yotam Segev |
SECTORS, AICOUNTRY, USATOTAL AMOUNT RAISED ($M), 300POST-MONEY VALUATION ($M), 1,400YEAR ESTABLISHED, 2021WEBSITE, https://www.cyera.io/INVESTORS, Coatue, Spark Capital, Georgian |
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Databricks offers a unified data analytics platform that integrates data warehousing and machine learning, allowing financial services firms to efficiently handle large-scale analytics and collaborative data processing to drive innovation. |
Ali Ghodisi |
SECTORS, AICOUNTRY, USATOTAL AMOUNT RAISED ($M), 4,595POST-MONEY VALUATION ($M), 43,000YEAR ESTABLISHED, 2013WEBSITE, https://www.databricks.com/INVESTORS, Tiger Global Management, Andreessen Horowitz, Nvidia |
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Dataiku’s platform enables financial services firms to design, deploy, and manage AI and analytics applications at scale, fostering collaboration among various stakeholders to enhance data-driven decision-making. |
Florian Douetteau |
SECTORS, AICOUNTRY, USATOTAL AMOUNT RAISED ($M), 983POST-MONEY VALUATION ($M), 3,700YEAR ESTABLISHED, 2013WEBSITE, https://www.dataiku.com/INVESTORS, Wellington Management, Tiger Global Management, Iconiq Capital |
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Utilizing AI, Dataminr analyzes public data streams in real-time to help financial institutions identify and respond to critical events and risks before they escalate, providing timely alerts on global incidents. |
Ted Bailey |
SECTORS, AICOUNTRY, USATOTAL AMOUNT RAISED ($M), 1,111POST-MONEY VALUATION ($M), 4,125YEAR ESTABLISHED, 2009WEBSITE, https://www.dataminr.com/INVESTORS, Eldridge, Valor Equity Partners, MSD Capital |
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DataRobot’s automated machine learning platform enables financial analysts and data scientists to rapidly build and deploy predictive models, enhancing credit risk evaluations and other financial services operations without deep programming knowledge |
Debanjan Saha |
SECTORS, AICOUNTRY, USATOTAL AMOUNT RAISED ($M), 1,120POST-MONEY VALUATION ($M), 4,896YEAR ESTABLISHED, 2012WEBSITE, https://www.datarobot.com/INVESTORS, Tiger Global Management, Snowflake Ventures, Sapphire Ventures |
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Fintern leverages AI to revolutionize consumer lending by offering personalized loan options based on comprehensive financial behavior, particularly beneficial for the financial services industry. |
Gerald Chappell |
SECTORS, AICOUNTRY, United KingdomTOTAL AMOUNT RAISED ($M), 1,659POST-MONEY VALUATION ($M), NAYEAR ESTABLISHED, 2020WEBSITE, https://www.fintern.ai/INVESTORS, West Coastal Capital |
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Known for its leadership in natural language processing, Hugging Face provides tools that facilitate advanced text analysis and generation for financial services applications, enhancing customer interactions and data insights. |
Clément Delangue |
SECTORS, AICOUNTRY, USATOTAL AMOUNT RAISED ($M), 4,500POST-MONEY VALUATION ($M), NAYEAR ESTABLISHED, 2016WEBSITE, https://huggingface.co/INVESTORS, Salesforce, Google, Amazon |
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OpenAI develops advanced AI technologies, including applications in financial services that enhance automation, customer service, and compliance through projects like GPT and DALL-E. |
Sam Altman |
SECTORS, AICOUNTRY, USATOTAL AMOUNT RAISED ($M), 11,305POST-MONEY VALUATION ($M), NAYEAR ESTABLISHED, 2015WEBSITE, https://openai.com/INVESTORS, Microsoft, Khosla Ventures, Infosys |
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By merging AI with quantum computing, SandboxAQ addresses complex problems in cybersecurity and optimization for the financial services sector, exploring quantumenhanced security solutions. |
Jack Hidary |
SECTORS, AICOUNTRY, USATOTAL AMOUNT RAISED ($M), 1,802POST-MONEY VALUATION ($M), NAYEAR ESTABLISHED, 2021WEBSITE, https://www.sandboxaq.com/INVESTORS, Breyer Capital, Eric Schmidt, Thomas Tull |
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Scale AI offers high-quality training data essential for AI applications in the financial services sector, ensuring that machine learning models like fraud detection algorithms perform accurately and reliably. |
Alexandr Wang |
SECTORS, AICOUNTRY, USATOTAL AMOUNT RAISED ($M), 1,502POST-MONEY VALUATION ($M), NAYEAR ESTABLISHED, 2016WEBSITE, https://scale.com/INVESTORS, Accel, Y Combinator, Nat Friedman |
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Skild’s AI-driven platform supports the financial services industry by managing innovation challenges and competitions, helping firms identify and develop new financial products and solutions in a structured environment. |
Deepak Pathak |
SECTORS, AICOUNTRY, USATOTAL AMOUNT RAISED ($M), 300POST-MONEY VALUATION ($M), 1,500YEAR ESTABLISHED, 2023WEBSITE, https://www.skild.ai/INVESTORS, Amazon.com, Bezos Expeditions, Carnegie Mellon University |
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As a global software consultancy, Thoughtworks integrates AI and machine learning into custom software solutions for financial services firms, driving digital transformation and solving complex challenges in finance with agile development methodologies. |
Michael R. Sutcliff |
SECTORS, AICOUNTRY, USATOTAL AMOUNT RAISED ($M), 748POST-MONEY VALUATION ($M), 4,600YEAR ESTABLISHED, 1993WEBSITE, https://www.thoughtworks.com/INVESTORS, Siemens, Fidelity |
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Tradeshift is a cloud-based platform that digitizes trade processes for the financial services industry, enhancing supply chain payments, procurement, and compliance through AI-driven automation. |
James Stirk |
SECTORS, AICOUNTRY, USATOTAL AMOUNT RAISED ($M), 1,887POST-MONEY VALUATION ($M), NAYEAR ESTABLISHED, 2009WEBSITE, http://www.tradeshift.com/INVESTORS, Koch Industries, IDC Ventures, LUN Partners |
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VAST Data provides a revolutionary all-flash storage platform that supports highperformance applications in financial services, like AI-driven data analytics and real-time transaction processing, by overcoming traditional data access and handling challenges. |
Renen Hallak |
SECTORS, AICOUNTRY, USATOTAL AMOUNT RAISED ($M), 356POST-MONEY VALUATION ($M), 9,100YEAR ESTABLISHED, 2016WEBSITE, https://www.vastdata.com/INVESTORS, Fidelity Management & Research Company, New Enterprise Associates (NEA), BOND Capital |
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Conversational AI platform for customer experience management for banks, using AI to understand and follow complex customer interactions, and assist customer service agents to enable improved customer experience. |
Jon Newhard |
SECTORS, Banking and finance: Front Office
COUNTRY, USATOTAL AMOUNT RAISED ($M), 60POST-MONEY VALUATION ($M), NAYEAR ESTABLISHED, 2015WEBSITE, https://clinc.com/INVESTORS, National Science Foundation, Insight Partners, Hyde Park Venture Partners, DFJ Growth, Drive Capital |
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AI powered-platform for customer support management with faster resolution times and lower cost of resolution for each customer support ticket. Works with leading financial service companies. |
Deon Nicholas |
SECTORS, Banking and finance: Front Office
COUNTRY, USATOTAL AMOUNT RAISED ($M), 92POST-MONEY VALUATION ($M), NAYEAR ESTABLISHED, 2017WEBSITE, https://forethought.ai/INVESTORS, Y Combinator, Techstars, National Science Foundation, EASME, MassChallenge |
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Conversational finance platform for customer management to engage with customers effectively, enhancing conversion rates at a lower cost of acquisition. |
Aakrit Vaish |
SECTORS, Banking and finance: Front Office
COUNTRY, IndiaTOTAL AMOUNT RAISED ($M), 7POST-MONEY VALUATION ($M), NAYEAR ESTABLISHED, 2013WEBSITE, https://www.haptik.ai/INVESTORS, Kalaari Capital, Times Internet, Vivek Kumar |
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Offers feeback analysis for customer success management, using natural language reports, to analyse and present the important themes to increasing customer retention based on the urgency of the customer feedback language, customer tiers and churn risk. |
Daniel Erickson |
SECTORS, Banking and finance: Front Office
COUNTRY, USATOTAL AMOUNT RAISED ($M), 11POST-MONEY VALUATION ($M), NAYEAR ESTABLISHED, 2020WEBSITE, https://www.askviable.com/INVESTORS, Bossanova Investimentos, Streamlined Ventures, Craft Ventures, Javelin Venture Partners, GTMfund |
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Lucinity makes it simpler for compliance professionals to navigate the complexities of financial crime (FC) prevention, delivering AI based augmented intelligence to help FC teams operate with enhanced precision and insight. Works with leading financial service providers like SEON, Experian and Neterium. |
Gudmundur Kristjansson |
SECTORS, Banking and finance: Middle Office
COUNTRY, IcelandTOTAL AMOUNT RAISED ($M), 25POST-MONEY VALUATION ($M), NAYEAR ESTABLISHED, 2018WEBSITE, https://lucinity.com/INVESTORS, byFounders, Karma Ventures, Keen Venture Partners, Crowberry Capital, Experian |
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QuantPi is an explainable AI platform that allows enterprises to achieve regulatory compliance. Works with leading organisations like NVIDIA and the German Federal Government. |
Philipp Adamidis |
SECTORS, Banking and finance: Middle Office
COUNTRY, GermanyTOTAL AMOUNT RAISED ($M), 3POST-MONEY VALUATION ($M), NAYEAR ESTABLISHED, 2020WEBSITE, https://www.quantpi.com/INVESTORS, Capnamic Ventures, First Momentum Ventures, Mirko Novakovic, Ash Fontana |
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Provides AI-driven insights and automation for financial institutions for faster financial crime detection, identifying money laundering and preventing fraud. Works with leading financial service providers like HSBC, Nordics Financial and Cecabank. |
Romesh Wadhwani |
SECTORS, Banking and finance: Middle Office
COUNTRY, USATOTAL AMOUNT RAISED ($M), NAPOST-MONEY VALUATION ($M), NAYEAR ESTABLISHED, 2017WEBSITE, https://www.symphonyai.com/INVESTORS, NA |
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Database management platform that lets users update, explore and visualise data collaboratively, without needing to be an expert in database operations, using natural language programming (NLP) to translate human language into structured database queries. |
Brandon Strittmatter |
SECTORS, Banking and finance: Back Office
COUNTRY, USATOTAL AMOUNT RAISED ($M), 0.5POST-MONEY VALUATION ($M), NAYEAR ESTABLISHED, 2022WEBSITE, https://outerbase.com/INVESTORS, Y Combinator, Surface Ventures |
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Uses AI to match job candidates with financial roles based on cognitive and emotional traits. It is a soft-skills platform focusing on hiring and talent management using data- driven behavioral insights and AI. Works with banks and asset management companies. |
Frida Polli |
SECTORS, Banking and finance: Back Office
COUNTRY, USATOTAL AMOUNT RAISED ($M), 57POST-MONEY VALUATION ($M), NAYEAR ESTABLISHED, 2011WEBSITE, https://www.pymetrics.ai/INVESTORS, MassChallenge, Khosla Ventures, Salesforce Ventures, General Atlantic, BBG Ventures |
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Platform for accounting and fraud detection using an AI driven accounts payable engine and integrated autonomous approval flows for financial back-office operations. |
Alexander Hagerup |
SECTORS, Banking and finance: Back Office
COUNTRY, USATOTAL AMOUNT RAISED ($M), 115POST-MONEY VALUATION ($M), NAYEAR ESTABLISHED, 2017WEBSITE, https://www.vic.ai/INVESTORS, GGV Capital, ICONIQ Growth, Costanoa Ventures, Cowboy Ventures, Connectivity Venture Fund |
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The company utilises natural launguage programmng (NLP) and Al to extract insights from millions of documents across earnings, broker research, company documents, expert calls, and more to make smarter business decisions across a company's operational domains. |
Jaakko Kokko |
SECTORS, Investment and wealth management
COUNTRY, USATOTAL AMOUNT RAISED ($M), 593POST-MONEY VALUATION ($M), 1800YEAR ESTABLISHED, 2011WEBSITE, www.alpha-sense.comINVESTORS, EASME, BlackRock, Morgan Stanley, Innovation Endeavors, Bank of America |
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Briink is building AI infrastructure to help sustainable finance workers understand ESG, providing advice on ESG data and reporting systems. Works with leading companies like Continental, LightRock and Coller. |
Tomas van der Heijden |
SECTORS, Investment and wealth management
COUNTRY, GermanyTOTAL AMOUNT RAISED ($M), NAPOST-MONEY VALUATION ($M), NAYEAR ESTABLISHED, 2021WEBSITE, https://www.briink.com/INVESTORS, Merantix |
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An AI-powered platform that provides instant financing options for consumers. |
Max Levchin |
SECTORS, Banking and FinanceCOUNTRY, USATOTAL AMOUNT RAISED ($M), 1,421.74POST-MONEY VALUATION ($M), 2,900YEAR ESTABLISHED, 2012WEBSITE, https://www.affirm.com/INVESTORS, Spark Capital, Founders Fund, GIC, Light Speed Ventures |
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An AI-powered platform that provides affordable financing solutions for customers. |
David Girouard |
SECTORS, Banking and FinanceCOUNTRY, USATOTAL AMOUNT RAISED ($M), 145.261POST-MONEY VALUATION ($M), 10YEAR ESTABLISHED, 2012WEBSITE, https://ir.upstart.com/INVESTORS, First Round Capital Management, LLC
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Tailored for banking, excels in conversational AI tasks. Trained on real interactions, it provides fluent, coherent, and contextually relevant responses, automating customer service and enhancing efficiency in banks. |
Zor Gorelov |
SECTORS, Banking
COUNTRY, USATOTAL AMOUNT RAISED ($M), $82.3MPOST-MONEY VALUATION ($M), NAYEAR ESTABLISHED, 2013WEBSITE, https://kasisto.com/INVESTORS, Oak HC/FT, Ten Coves Capital, Rho Ventures, Two Sigma Ventures, Propel Venture Partners, Partnership for New York City, Naples Technology Ventures, NCR Corp, FIS, Mastercard, Westpac, DBS Bank |