Businesses are always changing, and it’s our duty to stay on top of current trends. If you’re in the banking industry, there’s no doubt that you should keep a close eye on fintech. Fintech is shifting how money changes hands, improving the way people make transactions. Consequently, Statica estimates that banks will spend about $19.9 billion on new technology in 2017 in North America. Here are the 10 most popular fintech companies USA who are already doing great.
Founded in 2005, Payoneer is a venture-backed and profitable company that empowers global commerce by connecting professionals, currencies, businesses and countries with its cross-border payment platform. In today’s digital world, the company enables millions of professionals and businesses from over 200 countries to reach new audiences through cross-border payments. In addition, thousands of leading corporations such as Google, Amazon, Getty images and Airbnb rely on mass payout services of Payoneer.
WePay is a San Francisco-based company that processes credit card payments on platforms such as CrodRise and GoFundMe, taking a fee of 30 cents plus 2.9 percent per transaction. The company is reportedly worth about $220 million.
Founded in 1998, PayPal operates a worldwide online payments system. The company performs payment processes for online auction sites, vendors, and others commercial users. Last year, the company was valued at $46.6 billion. Paypal is one of the best and most popular fintech companies in the world.
Founded in 2001, Skrill was the first e-money issuer to be regulated by FSA. Skrill provides businesses access to direct payment processing through 100 payment options in more than 200 countries and territories.
CommonBond is a lending firm based in New York. The company is planning to fix the $1.3 trillion student debt problem in the U.S. In 2015, the company raised more than $35 million in a September funding round; therefore, serving graduates in more than 2,000 schools. The company boasts of refinancing about $100 million worth of student loans.
Avoka offers “frictionless” sales and services transactions for consumers in government, education, financial services and a diverse range of other industries. Founded in 2002, Avoka focus on helping businesses to apply for a loan or credit, submit an insurance claim or open an account.
Betterment is a New York City-based startup that offers automated personalized advice and investment services. Depending on the size of your investment, the company will charge you an interest rate between 0.15 and 0.35 percent. Last year the company grew its AUM (assets under management) from $1 billion to $3 billion.
8) Orchard Platform
Orchard is a financial data firm that connects investor’s clients to about 130 lenders in the marketplace. The company also sells its services to third-party lenders such Funding Circle, Prosper and Lending Club. The company has attracted major investors including Nigel Morris, the co-founder of Capital One and former Citigroup CEO Vikram Pandit.
EquityZen improves how startups employees are paid by unlocking their equity compensation value in a way that benefits the shareholder, the investor, and the company. EquityZen is backed by major venture capital investors like WorldQuant Ventures and Dave McClure’s 500 Startups.
SecondMarket streamline complex private securities transactions. The company clients include SurveyMonke, Kabam, and Sonos. Since 2013, the company has closed more than $2.5 billion in transactions.