5 North American FinTechs worth keeping an eye on

By Pavithra R

FinTech is a portmanteau of the terms “finance” and “technology” and refers to any business that uses technology to enhance or automate financial services and processes. North America is no stranger to technology and innovative companies.

Here is a list of 5 North American FinTechs revolutionizing financial space:

Transmit Security (2014)

Boston based Transmit Security is a market leader in Identity Orchestration. The company’s technology enables large enterprises to standardize and simplify their identity infrastructure to accelerate and reduce the cost of new account opening, authentication, authorization, compliance and fraud prevention-related initiatives.

The Transmit Security Platform provides a solution for managing identity across applications while maintaining security and usability. It is a low code identity platform that allows user to drag and drop authentication, trust models, and identity management tools into any application. The platform supports both customer-facing use cases (CIAM) and workforce use cases (IAM).

LeaseQuery (2011)

LeaseQuery helps accountants and financial professionals eliminate lease accounting errors through its CPA-approved, cloud-based solution. Its software is built by accountants, for accountants under the provisions of the current and new lease accounting standards.

LeaseQuery simplifies the accounting for leased assets to better facilitate mandatory compliance with the ASC 842, IFRS 16, and GASB 87. The firm helps more than 10,000 accountants and other finance professionals eliminate lease accounting errors through its CPA-approved lease accounting software.

Ocrolus (2014)

Ocrolus is a FinTech infrastructure company that transforms documents into actionable data with over 99% accuracy. It is making use of AI and human-in-the-loop data validation process to automate back-office document-driven workflow. Ocrolus plugs directly into customer workflows via API thus eliminates the need for manual data work. 

Ocrolus technology is designed to help financial services companies make high-quality decisions with trusted data and unprecedented speed. Till now, the company has raised over $50M+ venture-backed funding and is backed by serial entrepreneurs and fintech leaders. 

Unison (2004)

Unison is a San Francisco-based company offering smart new financing alternatives for homebuyers and homeowners. The firm provides customers access to their equity with the freedom and flexibility to live without monthly payments. These funds come from institutional investors (pension funds and university endowments) who want to make long-term investments in homes across the U.S. 

Flexiti Financial (2003)

Flexiti is a Canadian FinTech company providing tech-enabled solution offering financing options on a private label credit card that makes shopping simple for consumers and retailers. The company’s mission is to become the leading provider of point-of-sale financing and payment solutions for businesses across Canada. It’s Buy Now Pay Later (BNPL) platform enables customers to get approved for shopping with their FlexitiCard.

Flexiti leverages mobile technology to deliver the fastest application process available today and generate the highest credit approvals with its flexible and responsible credit policy.

ALSO, READ: Global FinTech Use Cases in Financial services by IBS Intelligence