Financial inclusion is one of the leading goals of the Indian economy. While traditional methods dominated the banking and lending landscape as recently as 4-5 years ago, the pandemic changed everything. As a result, it’s not uncommon to see even the smallest of traders and vendors have a QR code installed with them.

Indian fintech companies have acquired a significant 14 per cent share of global funding in the last five years. The Indian fintech industry expanded at a galloping rate of 20 per cent in this period, leaving behind countries like the US, UK and China. The fintech industry is now creating customised solutions for various verticals such as B2B, SMEs health, savings, investment, payments, insurance, agriculture and travel. And cashless modes of transactions are here to stay, and the fintech and lending companies making such solutions will only keep growing in the years to come.

Here are five prominent fintech companies that are disrupting the finance market from Israel:

 

For many years, Facetrom has been exploring the correlation between biological characteristics, on one hand, and facial morphology and personality traits, on the other hand. The Facetrom team has a passionate motivation and unrelenting desire to understand why every person has a different appearance and how these differences affect a person’s character, the decisions taken, the capabilities, talents, shortcomings and more. They focused their attention on implementing a novel technology that turns the insights revealed in one’s face into business values.

Facetrom has acquired extensive knowledge and experience in computer vision, image processing, machine learning, deep learning, AI, statistics, software engineering, evolutionary psychology, management, and more.

While they have been taught from a very young age that they should not “judge a book by its cover”, Facetrom is disrupting this paradigm; thus far, they have successfully proven that their appearance is a critical component, allowing us to make better and more accurate decisions.

No doubt, they are merely scratching the surface of the enormous markets and use cases, of which Facetrom technology may unlock the true potential of each individual in the world.

 

Paygilant is the leading anti-fraud for fintech, designed to meet digital banking and mobile wallets’ business goals, by delivering a vigilant and accurate balance between user experience and early fraud prevention. Its easy-to-integrate patented technology utilizes six proprietary Intelligence Sets, which work in harmony to deliver value from day one throughout the user’s journey.The solution is quickly and effortlessly integrated with the application to detect possible fraud attacks from Day-1.

 

 

Neema aims to help migrant workers manage their basic financial needs by offering the Neema Digital Mobile Account for underserved consumers. Created specifically for migrant workers, the Neema App includes high-level service with low bank fees, cash pickups, mobile wallets worldwide, and an app-based international VISA card.

Neema also enables business and financial organizations around the world to expand and optimize their cross-border payment networks by offering the Neema cross-border payment API.

 

CrediGence provides a risk management solution for micro-lending in developing markets. Their system focus on predicting and managing the risk while delivering credit insights in an unstructured information environment. CrediGence innovative system connects to external and internal sources on demand, according to the unique risk algorithm for real time and affordable decisions support.

The result is an alternative blended score and a borrower profile, created using three main point of views: Home, Business and Community. The platform generates an accurate borrower profile in markets where limited access to financial services and lack of information is the norm.

 

PayKey bridges the gap between banking and social, enabling banks to have their brands become a part of their customers’ social and messaging experience. PayKey enables banks to provide their customers with the ability to initiate and complete a range of financial services, including P2P payments, request payment, balance check, cardless withdrawal, and more, from within any mobile application.

Offering a cross-platform banking button on the smartphone’s keyboard boosts the bank’s brand engagement while making the banking experience quick, contextual, and simple for users.

 

Please reach out to Ashish Verma – Sr. Trade Officer (ashish.verma@israeltrade.gov.il)  for scheduling meetings or discussing business opportunities in the industry.