10 Top AI Finance Companies

Companies are turning to artificial intelligence (AI)-based solutions to manage all or portions of their finance needs. Some are choosing all-encompassing cloud-based systems to handle all of their needs, such as accounting, bookkeeping, invoicing, inventory management and forecasting. Others have finance processes already in place, but they need to add some pieces to complete the financial puzzle. Here, we look some of top finance companies offering AI solutions:

1. Zest AI

The company, formerly known as ZestFinance, uses AI to help credit unions, banks and auto lenders increase loan approvals while also lowering credit risk. Zest AI offers a suite of products designed to help lenders better manage their portfolios. The company’s flagship product is the Zest Model Management System, an advanced credit model management system designed to provide real-time credit insights to lending staff. Zest AI builds custom AI models to help lenders enhance risk management and loss control, increase operating efficiency and enhance the borrower experience.

2. AlphaSense

AlphaSense’s generative AI-based market intelligence platform offers insights from internal content as well as real-time and market research from over 1,500 providers. The company’s proprietary database includes earnings reports, filings and other company documents from more than 68,000 companies. AlphaSense’s AI-fueled smart chat assistant and Smart Synonyms are designed to surface relevant insights faster, while the generative AI-driven smart summaries highlight insights from premium content.

3. HighRadius

HighRadius offers AI-driven autonomous finance solutions designed to help CFOs and their teams be more efficient. The company’s platform automates critical elements of collections management, cash application management, deductions management and credit management. HIghRadius customers benefit from electronic invoicing, advanced analytics, B2B payments, surcharge management and the ability to optimize interchange fees. The platform is designed to facilitate report generation through faster account reconciliation and anomaly management.

4. Workday

Workday Adaptive Planning uses AI and ML to help finance teams that need to make more predictive plans and drive innovation. The company’s financial planning software with embedded AI empowers decision makers to collaborate, plan continuously and adapt. Embedded AI and machine learning (ML) enables users to make informed decisions by providing recommendations while also eliminating mundane tasks. The solution provides users with the ability to create and test models using advanced analytics to immediately spot risks and opportunities.

5. Oracle

Oracle NetSuite Text Enhance is designed with AI to help finance and accounting teams expedite collections, close the books faster and focus on more strategic and fulfilling work by accelerating time-consuming writing tasks, such as writing targeted and personalized collection letters and generating summaries and narratives for financial reports. NetSuite’s revenue recognition capabilities also automate revenue scheduling, allocation and reporting.

See more: 5 AI Case Studies in Finance

6. Multiview

Multiview’s cloud-based enterprise resource planning (ERP) and accounting software provide finance departments with core accounting, including general ledger, accounts payable and accounts receivable as well as expense management and inventory management capabilities. The solution provides business insights through budgeting and forecasting, project management and document management. The business automation capabilities include multi-sourced data warehouses, automated workflows and time management as well as asset management and order management, including purchase orders and work orders.

7. Brighterion

Brighterion’s AI platform benefits from Mastercard’s global network intelligence, Brighterion’s solutions are designed to a customer’s experience while helping protect against fraud. The company’s patented Smart Agents technology is designed to provide a high degree of personalization, accuracy, adaptability and important insights across data. The personalized functionality provides updated intelligence on any entity, such as a card, account or merchant. The technology provides identification of customer segments exhibiting low fraud occurrences as well as cross-channel anomaly detection, prediction and analysis.

8. Stampli

Stampli’s technology supports native functionality for more than 70 ERP systems, enabling users to automate accounts payable without reworking their ERP systems. The solution brings together AP-related communication, documentation and workflows into a single place, giving the user visibility and control over the entire invoice life cycle. Stampli’s AI-driven Billy the Bot learns a user’s AP processes to assist across the entire invoice life cycle, including invoice capture, coding, approvals and fraud detection.

9. Ocrolus

Providing document AI, Ocrolus enables companies to make faster and more accurate financial decisions. The solution retrieves data from files, regardless of format or image quality, enabling users to eliminate time-consuming stare-and-compare work, while bolstering compliance through bank-level security and a comprehensive audit trail: the solution calculates income for consumers with diverse employment profiles; extracts and validates address information from documents; retrieves employment data from different sources; and establishes and confirms identities via multiple document types.

10. DataVisor

DataVisor’s anti-fraud technology is designed to enable users to mitigate losses from missed fraud by adapting to new fraud incidents immediately with real-time data signal orchestration and end-to-end workflow automation. Users can leverage transaction logs, user profiles, dark web and other identity signals with real-time analytics for fraud detection in less than 100-300 ms. The solution enables users to customize and adapt fraud strategies to individual business needs, providing complete control over the customer experience (CX) with minimal IT dependency.

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