We spoke to REACH startups about the situation within the Finance sector

Jun 24, 2021

REACH Incubator is supporting promising SMEs who are building cutting-edge solutions and changing things as we know them. REACH spoke to startups in order to discover the signs of disruption, as well as what growth potential within this sector.

According to the REACH startups, there are a few trends that are emerging and are forewarning the disruption within the Finance sector. Clear changes to traditional business models, emergence of artificial intelligence, automation of processes, as well as use of large-scale data analytics seem to be the leading changes in this sphere.

According to Wenalyze, the opportunities within this sector come to those companies that identify the signs of disruption and most importantly – manage to take advantage of them.

“We are currently developing a conversion funnel for the transformation of leads into customers that consists of several phases and is fed by the leads obtained in events, inbound, outbound, network and events.” – Wenalyze

The biggest challenge to the SME is that they are a B2B entity, thus all of their potential customers are large corporations. The time to market is close to 12 months for them. Wenalyze is acting to decrease this time in half through communication actions and demos.

On the other hand, according to Brain, there is growing interest of funds and banks towards the exploitation of the new mass of available data through AI to improve their business and investment processes, which is another opportunity for SMEs within the Finance sector.

In order to achieve growth, Brain is constantly creating new alternative datasets for investment strategies, while consulting projects aimed at application of AI in Finance. They are also participating in data platforms to scale product commercialization.

Brain’s biggest challenge is the growing competition in the alternative data sector in Finance.

“We are focusing our offering on the rigorous and scientific approach derived from our experience in Physics research in academia.” – Brain

Other growth opportunities within this sector seem to be the zero interest rates and dividend stocks for long-term growth, in which more and more individuals are interested in investing.

REACH Incubator is looking forward to seeing how our startups will solve their issues and become the dominant players in the finance sector.

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