The Evolution of Fintech

Financial technology (Fintech) refers to applications that support or enable banking and other digital financial services. Some fintech solution options include AI, biometrics, blockchain, and eCommerce.  The global economic climate in 2022 turned out to be tougher than we expected. But the Fintech industry is still evolving and growing. There is still huge potential and opportunities to satisfy an increasingly sophisticated and demanding customer base. Therefore, it is essential to consider the trends that will become driving forces. Artificial intelligence (AI) enables the automation of complex and high-value processes. Within the fintech sector, AI helps support chatbot interactions, and personalized customer service and drives infrastructure decisions – assisting financial entities in combating cybercrime, money laundering, and fraud.   


AI algorithms in financial software development will play a more significant role in determining who gets access to various financial services and how. Its adoption into the fintech industry to make decisions on issuing loans, negotiating, and detecting fraud will intensify in 2023. However, the public is now raising demands concerning the ethical impact of AI in such mission-critical decision-making. The current global fintech technologies market size is over $110bn. But development in fintech is growing. Experts say the market will grow at a CAGR of 20.3% until 2030.


That’s why we have made this special edition of Fintech providers. The magazine includes some of the innovators and the views of top-level tech experts and business executives. We hope this edition adds value to your Fintech initiatives.

Top 10 Fintech Innovators 2022

Financial technology, otherwise known as fintech, is an innovation that can either help or compete with traditional methods of delivering financial services. As an emerging industry, fintech includes new applications, processes, or products based on technological solutions. FinTech (financial technology) is a catch-all term referring to software, mobile applications, and other technologies created to improve and automate traditional forms of finance for businesses and consumers alike. FinTech can include everything from straightforward mobile payment apps to complex blockchain networks housing encrypted transactions. Modern fintech is primarily driven by AI, big data, and blockchain technology, all of which have completely redefined how companies transfer, store, and protect digital currency. Specifically, AI can provide valuable insights on consumer behavior and spending habits for businesses, allowing them to better understand their customers. Big data analytics can help companies predict changes in the market and create new, data-driven business strategies. Blockchain, a newer technology within finance, allows for decentralized transactions without input from a third party, tapping a network of blockchain participants to oversee potential changes or additions to encrypted data.


Tech-savvy customers, especially millenials, expect money transfer, lending, loan management, and investing to be effortless, secure, and scalable, ideally without the assistance of a person or the visit of a bank. However, with hundreds of different options in the marketplace, it can be overwhelming to figure out which system is the best.  To make this process more streamlined, our team of researchers, analysts, and Editorial team has shortlisted a set of companies that stand out from the crowd. The companies included in the list offer some of the most innovative as well as exclusive solutions that could create an impact in the Fintech sector.


Management: Timothy Li
Designation: CEO
Headquarters:Irvine, CA

Alchemy lending core software powers Banks, FinTech and Merchants with an end-to-end cloud based SaaS solution. Their embedded financing platform is completely white labeled and customizable, serving customers world wide. Crafted by software engineers with banking and FinTech background, our award-winning lending software provides a full package of powerful loan modules, including for digital onboarding, decision engine and loan management software.


Management: H. Adam Holt
Designation: Founder & CEO
Headquarters: Philadelphia, Pennsylvania

Asset-Map is an award-winning financial technology used by financial professionals around the world. They live by the idea that a simple visual approach can be a better way for financial advisors to interact with clients. Their technology helps to visualize and interact with a household’s complete financial inventory on a single page (or screen).

Deep Pool

Management: Shamus O’Donnell
Designation: CEO
Headquarters: Dublin 2, Dublin

Deep Pool is the #1 investor servicing and compliance solutions supplier, providing cutting-edge software and consulting services to the world’s leading fund administrators and asset managers. Their flexible solution suite, developed by an experienced team of accountants, business analysts and software engineers, supports offshore and onshore hedge funds, partnerships, private equity vehicles, retail funds and regulated financial firms.


Management: Marc Murphy
Designation: CEO
Headquarters: Dublin, Dublin

Fenergo is the digital enabler of client and regulatory technology for financial services. It provides Client Lifecycle Management (CLM) software solutions for Financial Institutions including; Corporate & Institutional Banking, Commercial & Retail Banking, Asset Management, Private Banking & Wealth Management.


Management: Dan Roda
Designation: Co-Founder & CEO
Headquarters: North Little Rock, Arkansas

Abaca is a financial and regulatory technology company that facilitates electronic payment processing, banking, lending and other financial services for the cannabis industry. They believe all cannabis businesses should have access to stable, secure, and transparent financial services. Built on modern cloud-hosted technology by banking and compliance experts, Abaca’s digital-first commercial banking solutions make cannabis banking easy.


Management: Randy Jacops
Designation: CEO
Headquarters: Houston, TX

IDERA understands that IT doesn’t run on the network – it runs on the data and databases that power business. That’s why they design their products with the database as the nucleus of customer IT universe. Their database lifecycle management solutions allow DBAs and IT Ops professionals to do more with less, so they can design better, build faster and run quicker.

Incode Technologies

Management: Ricardo Amper
Designation: Founder & CEO
Headquarters: San Francisco, CA

Incode is the identity company that is reinventing the way humans authenticate and verify their identity online to power a world of trust. Incode’s products are being used by some of the world’s largest financial institutions, governments, marketplaces, hotels and hospitals.


Management: Kari Hensien
Designation: President & CEO
Headquarters: Salt Lake City, UT

Panamax Inc. is a global leader in developing leading fintech and telecom solutions for digital transactions, switching, billing, fraud management and revenue assurance helping banks, financial institutions, enterprises, telecom operators, MNOs, and MVNOs. Panamax offers the world’s leading digital financial platform MobiFin which has made digital finances a reality in several countries.


Management: Keith Smith
Designation: Co-Founder & CEO
Headquarters: New York, NY

Payability is a fast-growing fintech company founded and headquartered in New York City. Payability provides flexible financing solutions to eCommerce sellers via accelerated daily pay-outs and working capital for inventory and marketing. Payability has financed over $5 billion in growth capital to thousands of businesses.


Management: Tim McCormick
Designation: CEO
Headquarters: Peachtree Corners, GA

SaaSOptics gives early-stage and growing SaaS and subscription businesses the ability to eliminate customers dependency on spreadsheets and streamline their financial operations and reporting. SaaSOptics’​ robust analytics engine delivers all the SaaS analytics customer need to run their subscription business: MRR, ARR, Cohort, CLV, projections, renewal rates and churn.