Even though the year 2020 is surely not the easiest when it comes to implementing innovations and creating new companies, the FinTech industry is still thriving, with many promising products being introduced to the market. These are some of the best FinTech innovations that impact the customer experience in 2020.

Debt Collecting – TrueAccord

The industry of debt collecting has always been one of the most shunned parts of the market, known for morally gray practices such as using debt collectors and cold calling. TrueAccord has introduced a very useful innovation to debt collecting – a platform that utilizes machine learning to help companies collect their debts without exploiting and stressing the customers. Instead, TrueAccord utilizes digital forms of communication, such as notifications and messages, to boost payback rates and remind customers of their debts.

IT Development – 10Clouds

When it comes to developing IT products and services, 10Clouds is one of the most promising newcomers in the FinTech industry. The company has already cooperated with major brands, such as Pinterest, Baidu, and Asmodee. 10Clouds offers website and application development, taking care of both back-end and front-end development. Product design is also one of the company’s responsibilities, as they excel in UX design, UI design, and more. 10Clouds frequently works with other FinTech companies in integrating accounts and client onboarding, among others.

Financial Research – Morningstar

Created in Chicago, Illinois in the United States, Morningstar takes care of professional financial research and information gathering for big clients and everyday investors alike. With Morningstar’s products and services, large and small companies can easily access the data necessary to optimize investments and avoid unnecessary risks of losses. Morningstar features research on mutual funds, stocks, ETFs, bonds, and many more. They also include services such as tax planning and personal financial planning, helping private customers save for education or retirement.