Fintech startups are increasingly leaning on automation and artificial intelligence (AI) to develop new technologies for financial services institutions as lenders look to increase efficiencies across their organizations.

Thirty-five fintech startups demonstrated their budding technology at FinovateFall on Tuesday in New York. The Auto Finance News editorial team compiled five that made an impression during the full day of demos.

Array

Array is on a mission to democratize consumer data and deepen connections between lenders and consumers. Using data provided by credit bureaus and other entities, Array’s white-label platform connects through an API and allows financial institutions to customize offerings to consumers to help increase approval ratings. Financial institutions can also embed its technology directly.

New York-based Array was founded in 2020 by Martin Toha and Phillip Zedalis.

Berbix

AI-powered identity verification software Berbix uses biometrics to verify the authenticity of a borrower and a borrower’s ID to help increase approval times and reduce fraud. The technology is fully automated, according to the company’s website, and doesn’t require human review.

The San Francisco-based fintech has raised $11.6 million in three rounds of funding since its inception in January 2018, according to Crunchbase.

Kore.AI

Orlando, Fla.-based Kore.AI is a consumer-facing conversational AI platform with a focus on automation. In fact, the company’s software allows companies to automate up to 80% of routine interactions with consumers, according to its website. The software also automates standard responses for customer service agents for issues that require a human touch.

Founded in 2013, Kore.AI works with PNC Financial Services, among others, and has received $30.8 million in venture capital from Vistara Capital Partners and Dallas Venture Capital, according to Crunchbase.

Sequretek

Cybersecurity fintech Sequretek is all about information asset management. Using AI, the company reduces exposure to attacks such as ransomware, zero-day, in-memory and fileless malware. Its cloud-native software “offers a unique combination of proprietary deep learning AI-based threat detection and incident response technology,” according to the company’s website.

SequreTek has secured $5 million in funding from five investors, according to Crunchbase, with the FIS Fintech Accelerator being the company’s most recent investor.

Truework

Income and employment verification platform Truework digitizes the verification process for human resources departments, banks and other companies. Companies integrate with the platform through an API. Founded in 2013, the company works with more than 40,000 companies and can return employment and income data for 35 million consumers.

San Francisco-based Truework has received $44.9 million in funding, with Sequoia Capital, Khosla Ventures, American Express Ventures and Activant Capital acting as lead investors.