Not only have FinTech startups significantly improved and democratized the financial services industry for customers, but the governments have also noticed and leveraged new opportunities in serving the population through FinTech companies.
One of the examples is OpenGov, “the company on a mission to advance the business of government.” Among the advisors of the company are impressive governmental figures, such as George Shultz (former US Secretary of State, Secretary of Treasury, Director of OMB), Lawrence H. Summers (former US Treasury Secretary), Adrian Fenty (former Mayor of Washington, DC) and others. OpenGov’s cloud-based technologies deliver powerful financial transparency and operational reporting and intelligence platforms for governments. And because it is delivered as a SaaS solution, the governments don’t have to worry about relying on IT to set up servers or manage a lengthy implementation.
SmartProcure is another successful company with a government-focused solution. It allows the government to find the best prices other agencies are paying for the required products and services. The solution allows requesting multiple vendor quotes in a few simple clicks and view the agencies they sell to, how much they sell, and what they charge. Purchase orders contain valuable insight on vendors, prices, products and agencies. SmartProcure brings all this information together in a searchable database, giving purchasing professionals critical intelligence to inform each decision they make.
Data-focused company Enigma offers an integrated public data platform with powerful functions. ParseKit gets data where it needs to be by enabling data pipelines to be fast, reliable, and collaborative across different teams within an organization. Abstract’s platform collects and harmonizes data from any source into one integrated database layer to power applications and analytics. And Signals is an intelligence engine that uncovers hidden insights in data and supports automated decision-making.
Socrata is another data company on a mission is to unleash the power of government data to improve society. The company offers several products that help make data more accessible, more understandable, and more actionable by everyone who wants to know more about their government and communities. Socrata Open Data supports the entire lifecycle of data, from publishing it to the cloud, all the way to empowering developers to utilize that data to build apps that impact the community directly. Socrata Open Budget answers key financial questions about operating and capital budget revenue streams and allocations.
APPCityLife is a Platform as a Service (PaaS) that empowers cities to rapidly deploy affordable mobile apps. The company makes it easy to extend services and open data the last mile into mobile in order to create interactive solutions for cities. CityLife’s mobile and cloud platform makes it easy for cities to deploy mobile apps for services, open data, beacons and wearables. As a cross-platform end-to-end solution, APPCityLife delivers rich analytics to demonstrate ROI and robust feature support while still being accessible to non-developers.
Captricity is another example of a technology applied for the benefit of government along with other structures. The company’s handwriting recognition technology helps leading organizations in insurance, government and healthcare unlock access to the customer data they need to optimize business processes, improve decision-making and enhance the customer experience. Captricity claims to offer the world’s most accurate data capture solution for complex handwritten and typed forms, offering the savvy enterprise access to transactional and legacy data trapped on paper forms – fast, secure and 99.9%+ accurate.