Hoboken, New Jersey – (July 12, 2022) Duality Technologies, the leader in privacy preserving data collaboration, today announced its inclusion on the AIFinTech100 list for 2022. The prestigious ranking highlights the world’s most innovative solution providers developing artificial intelligence (AI) and machine learning technologies to solve challenges or improve efficiency in financial services.
The adoption of AI and data analytics solutions by financial institutions has exploded over the last two years accelerated by technological advancements, increased use of digital channels, and shifting regulatory frameworks. Additionally, the potential cost savings for banks from AI applications is estimated to reach $447bn over the next 12 months.
As a result, the number of tech providers employing AI or data solutions to solve challenges in areas such as banking, insurance, customer experience, investment & trading and compliance has skyrocketed. This made the selection process for this year’s AIFinTech100 list extremely competitive as the finalists were selected by a panel of industry experts and analysts based on research produced by FinTech Global on over 2,000 FinTech companies.
“Duality is proud to be named to such a prestigious list as AI promises to deliver dramatic benefits to all areas of banking and financial services,” said Duality chief executive officer and co-founder Dr. Alon Kaufman. “We have seen that when our customers collaborate on data the result of applying artificial intelligence and machine learning offer a magnitude of powerful benefits. Hence in today’s world the ability for the fintech ecosystem to collaborate on data while maintaining data privacy and confidentiality is crucial. Duality opens up the enormous opportunity to break down data silos within financial institutions as well as between institutes, unlocking the value of sensitive data and doing so in a privacy preserving manner for the mutual benefit of all.”
FinTech Global director Richard Sachar said, “Now, more than ever, established financial institutions need to be aware of the latest AI and data analytics technology in the market to deliver competitive financial products and reach new customers. The AIFinTech100 list helps senior decision-makers in the industry filter through all the vendors in the market by identifying the market-leading AI innovators which will have lasting impact on the industry.”
About Duality Technologies
Duality is the leader in privacy enhanced secure data collaboration, empowering organizations worldwide to maximize the value of their data without compromising on privacy or regulatory compliance. Founded and led by world-renowned cryptographers and data scientists, Duality operationalizes privacy enhancing technologies (PETs) to accelerate data insights by enabling analysis and AI on encrypted data, while preserving data privacy, compliance and protecting valuable IP. A Gartner Cool Vendor, Duality was named a Tech Pioneer 2021 by the World Economic Forum (WEF) and listed on Fast Company’s 2020 Most Innovative Companies and recently won the 2022 CB Insights’ AI 100 and the 2022 RegTech 100 Awards.