Artificial Intelligence (AI) is the future of technology and is growing at a rapid pace. Eventually, it is being implemented by several industries to get a better reach among clients and customers. This emerging tech is offering benefits to industries such as manufacturing, healthcare, automobile, software, etc. let alone fintech.
Talking about AI, it is having an impact on our daily lives with aspects such as facial recognition. It looks like it will be one of the most promising technologies in the coming years. AI includes machine learning and deep learning technologies and these are the buzzwords in the tech ecosystem right now.
Given that many fintech startups are using AI, we have listed some innovative Amsterdam-based fintech startups that use Artificial Intelligence. Take a look at these startups as sourced from Dealroom from here.
Founders: Pieter van der Does, Arnout Schuijff
Funding: €293 million
Amsterdam-based Adyen is a digital payments company backed by Silicon Valley. It was founded in 2006 and went public sometime last year. This fintech scaleup is one of the rapidly growing and most valuable tech companies in Europe. The pride of Amsterdam is an online digital payment platform enabling businesses to organise and process payments across different channels. The clientele includes Facebook, Netflix, Spotify, Uber and more.
Founders: Camiel Kraan, Kevin Westermeijer
Funding: €3.6 million
The Dutch AI tech startup Convious was founded in 2016 and has expertise in offering data-driven customised e-commerce solutions. Back in 2018, the company opened the R&D centre in Lithuania. Convious is an inventive startup using Artificial Intelligence to deliver a customised and personalised online booking and buying experience. Its major pillars include data-driven automation and hyper-personalisation. With the use of AI for dynamic pricing, the company eliminates the dependence on affiliates and intermediaries.
Founders: Bas van Ooyen, Richard Kraaijenhagen, Sjoerd Leemhuis
Funding: €3.3 million
Owlin is an Amsterdam-based fintech startup backed by Rockstart, a Netherlands-based accelerator. It is a news alert startup, which provides a tool for real-time news analysis to a state-of-the-art AI-based platform. The company’s seed investor went bankrupt in the initial stages. Owlin has built an impressive list of international clientele including Adyen, ING, KPMG, Deutsche Bank and Fitch Ratings.
Founders: Diederick van Thiel
Funding: €1.5 million
Established in 2013, AdviceGames has built a strong user base of 4.5 billion customers with instant credit scoring its credit rating and churn prediction that will increase lifetime value at a lower risk. It is the future of credit scoring applying big data as well as machine learning to support lending to SMEs and millennials. The fintech startup uses machine learning models to monitor and discover patterns and enable risk reduction as well.
Founders: Tim Harbers, Vincent van Leeuwen, Wouter Kneepkens
SNTMNT founded in 2011 has developed a combination of algorithms and filters that predict the share price movements. Its product is available in three forms and uses sentiment analysis and machine learning. The company uses machine learning methods such as robust non-linear models for author authority, correlations between Twitter sentiment and share price prediction.
Founders: Peter van Dam, Timo van der Veen
Whayle founded in 2017 believes that technology will be valuable when used with experience and knowledge. The company works with experts in the sector to supplement insights. Its data scientists integrate the expertise with Artificial Intelligence to ensure that they understand the actual problem. With this approach, Whayle can help in tightening financial, operational and commercial processes and improve returns.
Founders: Alexander Van Os
Venture IQ provides software and services for innovation scouting and global technology. The startup founded in 2015 allows you to manage your innovation funnel and deal flow and fosters collaboration across teams and departments. It offers systematic global searches of superior quality and provides technologies that actually matter to you.
Founders: Arjen Strijker
In 2016, Fundsup was founded in Amsterdam with the mission to empower young companies to build the change that they want to witness in the world. The company eliminates friction in early-stage fundraising via data-driven matchmaking. It provides committed founders with increased connectivity to major industry players including fund managers and investment professionals. Eventually, it leads to more successful investment deals and meaningful connections.
Founders: Sjoerd Slot
Fraud Dynamics is a startup founded as a result of the collaboration of experts across the world involved in the future of fraud management. The company debuted in 2013 operates with a clear vision to address the ever-growing dynamics of financial crime. And, it provides working and result driven solutions. These solutions are based on extensive experience, agile platforms and top-class analytics in the field of fraud management.
Stay tuned to Silicon Canals for more updates in the tech startup world.