Financial companies can employ artificial intelligence (AI) to manage and analyse data from many sources to acquire insightful information. These ground-breaking outcomes support banks in overcoming daily obstacles to providing essential services like payment processing. Fintech and AI possess many similarities, which lead to the dominance of multinational banks in this era. Here, we will disclose the names of the top five AI applications in Fintech 2022.
Top Five AI Applications in Fintech
- Braintree
Featuring offices in 45 different nations, Braintree is a mobile payment and wallet solution. Users can accept and send payments in more than 130 different currencies. Furthermore, there are no limitations on any transaction. Debit cards, credit cards, and eWallet apps like Venm are also supported by Braintree.
- Chime
One of the best AI applications in Fintech, Chime is expanding rapidly as a mobile banking network. Users can regulate their spending and savings accounts without being charged any extra charges. It also has automatic saving options and extensive free ATM networking. With no minimum balance restriction and a market-competitive interest rate, savings accounts allow you to accumulate money.
- Nubank
Nubank offers more than just credit cards. Its users can benefit from free personal and company accounts, free rapid money transactions, and other features that make it one of the best AI applications in Fintech. Nubank has 12 million customers in its domestic market, making it the sixth-largest financial institution.
- Avant
Avant is a market-leading loan lending app. In addition, Avant serves as a provider of credit alternatives, focusing on customers in the middle-income bracket. It provides unsecured personal loans, depending on the user’s credit history, the loan can range between- $2,000 and $35,000. Users can secure a loan within 24 hours of applying.
- Robinhood
Robinhood is a brand-new fintech app, expanding vigorously due to its user-friendly trading software, which makes investing convenient for certain users. Additionally, this, along with other widely used fintech application programmes, enables free cryptocurrency trading. With the potential to invest only a fraction of a share, Robinhood positions itself as a trusted platform for younger investors who have limited to no experience with fintech investment apps.
Conclusion
We have mentioned the top 5 AI applications in Fintech 2022, created by the best fintech app developers. Artificial intelligence delivers the financial sector a special opportunity to save costs, enhance client satisfaction, and boost operational effectiveness, among other things. Therefore, financial institutions can offer their clients top-notch financial services.