3 Fintech companies worth following

The financial technology sector is in constant evolution, with work being done to further integrate technology into our financial practices. This is awesome for many reasons. Mainly, finance has typically been a sector that has been slow to change but now we’re see new advances on a monthly basis. It’s an exciting time to be involved and to see glimpses of what be in the norm in a few years.

I quickly wanted to draw attention to three companies that I personally keep tabs on.

SoFi: May not fall into the realm of startups anymore but still great to see the changes they’ve brought about. Started in 2011, the company has helped thousands to refinance student loans, with the initial capital being provided by alumni to students. Since then the company has established itself as an alternative lender who evaluates clients “on a holistic view of their financial well-being rather than a three-digit score”. Twitter

Meniga: Focused on partnering with financial institutions rather than compete against, Meniga builds finance management software to help banks better leverage transaction data. Imagine that Mint and your online/mobile banking experience were one and the same. The technology is already being utilized by large banks such as Santander and Jykse Bank in 17 countries globally. Twitter

Grow: A bit closer to home, Grow is leading the way in offering personal loans to Canadians online. An innovative tool of note is their RateTracker feature which will notify you monthly of your personalized loan interest rate without affecting your credit score. The startup hopes to provide more ways for Canadians to borrow through the use of data science and technology. Twitter