Muinmos Selected for Third Consecutive Year for Prestigious AIFinTech100
For the third consecutive year, Muinmos has been selected for the prestigious AIFinTech100 – a list of the top FinTech companies leveraging artificial intelligence (AI) to revolutionise financial services.
The list features the world’s most innovative companies who are developing AI and machine learning technologies to solve challenges or improve efficiency in financial services. Selected firms were chosen by a panel of industry experts and analysts, based on research produced by FinTech Global on over 2,000 FinTech companies.
Since the launch of ChatGPT in November 2022, AI has been a major talking point. AI has captured the imagination of everyone, with financial institutions now exploring how they can incorporate it to transform their operations. A recent survey from The Economist found that 85% of banks have a clear strategy for adopting AI in the development of new products and services. One of the biggest draws to the technology is cost savings. A report from Insider Intelligence claimed North American banks alone have a combined potential cost saving of $447bn for 2023 thanks to AI adoption.
The huge market opportunity for AI has created a hotbed of tech providers building AI or data solutions to solve challenges in areas such as banking, insurance, customer experience, investment & trading and compliance. As a result, the selection process for this year’s AIFinTech100 list was exceptionally competitive.
FinTech Global Director Richard Sachar said, “Generative AI tools like ChatGPT have shown how advanced AI technology has become. Financial institutions will need to explore how they can leverage the latest AI and data analytics technology, or they risk being left behind by competition. The new AIFinTech100 list gives senior decision-makers the knowledge of the best vendors in the market and those leading the charge on innovation.”
Remonda Kirketerp-Møller, Founder & CEO, Muinmos said, “As RegTech pioneers, we have always been firm believers in the role of AI in transforming the compliance function with faster, more efficient client onboarding. Being selected for the AIFinTech100 for the third consecutive year is a huge endorsement and coincides with unprecedented demand for our AI powered regulatory classification module, mPASS™.
“Financial institutions are increasingly looking for smarter, more effective ways of delivering compliance and we are thrilled to be at the forefront of this major technological evolution, playing a key role for clients in their digital transformation. With Europe set to be the first region in the world to formally adopt a major set of rules to regulate AI, this is an exciting time to be operating within this space.”
A full list of the AIFinTech100 and detailed information about each company is available to download at www.AIFinTech100.com.