It’s no secret the finance sector operates off of outdated technology and practices. While revolutionary technologies continue to modernize many sectors of society, the financial industry’s reluctance to adapt has led to a level of inefficiency that is stifling the potential socioeconomic impact millions of Americans need. The companies featured in Built in Chicago’s 41 Chicago Fintech Companies Revolutionizing Financial Services are changing that, and the brilliant minds within them showcase some of the most innovative and fascinating ideas and practices being used to modernize the finance industry.
I’m incredibly proud of the leadership teams upon seeing both Braviant Holdings and GreenKey Technologies named on this list. This is a true testament to what the hard work of talented, focused and passionate teams can accomplish for society. It is so humbling to be working with such great people who share a common passion to transform the finance industry.
Braviant Holdings, led by CEO Stephanie Klein, is a perfect example of this progress. In an age when many are skeptical of banking institutions, and younger generations are increasingly becoming unbanked or under-banked, we have created proprietary technology that streamlines the borrowing process for these underserved populations while keeping a keen eye on solving the problem Americans truly need, a pathway out.
Over 43 percent of Americans are considered non-prime borrowers. They get stuck with today’s suboptimal solutions if they’re in need of a loan, which usually keeps them locked in their plight. Although Braviant uses AI and ML to be the most efficient in pricing risk, the engine that truly drives this business is the passion to create a “path to prime” for this segment of US consumers.
Braviant is transforming the credit space by providing access to credit in order to improve the lives of underbanked Americans, but the underlying focus of Braviant’s vision is the larger societal impact of these systems. We are excited about finding ways to evolve, to educate, and to provide consumers with a new mechanism by which they can reach true financial empowerment and ultimately, access to traditional prime credit.
Within an entirely different division of the FinTech space, GreenKey Technologies — co-founded by myself and Anthony Tassone — is a revolutionizing RegTech play that is helping find ways to make trading floors more efficient while preserving and strengthening their regulatory compliance. With everything from cell phones, to security systems, to home entertainment utilizing voice technology, it’s time archaic trading floors adapt this technology to simplify the lives and practices of brokers.
Anthony, and the genius ML technicians of the GreenKey team, have continuously found ways to increase the speed of communication between brokers. Doing so has allowed them to quickly share insights and make trades, increasing both productivity and profit. We are now seeing our AI powered voice technology expand beyond the finance sector, for example, in emergency response for fire and police departments.
Innovations like these continue to underscore the importance of supporting emerging technologies and the positive impact they can make on society.
Built in Chicago featured a broad range of companies improving the finance industry, and while this list underscores how important modernization is to this sector, it also emphasizes how important it is to foster an environment where fintech companies can thrive. Companies are only as successful as the people who lead them. I’m pleased to see Braviant and GreenKey and their talented leadership teams recognized for their contributions to this space. I think we all look forward to realizing the impact these companies and others on this list will make in modernizing the finance industry.
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