There is a new world order coming to Wall Street.
Startups are taking on the financial sector. Some of the companies look to usurp traditional players, and others step into the gaps they’ve left behind.
Business Insider spoke to venture capitalists and banking veterans to put together a list of lesser-known startups, some of which are just a couple of month old.
The list includes companies offering online payments, loan origination, wealth-management software, cryptocurrency trading, and behavioral analysis for financial clients.
Some are worth hundreds of millions, while others are bootstrapped.
Every one is trying to find their place alongside the biggest names on Wall Street.
Digital Reasoning catches bad guys red-handed
Digital Reasoning provides algorithmic searches and analysis of chat rooms and individuals’ communications to hone in on potential insider trading and eliminate it. CEO Tim Estes recalls doing a demo of his product for a bank using two traders as test cases. It turns out his startup spotted questionable behavior, with the bank coming to realize that someone even more senior was colluding with the two traders. Digital Reasoning has clearly resonated with some of Wall Street’s biggest companies. In late 2014, the company took on an investment from investors, including Goldman Sachs and Credit Suisse, for about $24 million.
You can read the full article here on Business Insider.