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17 Top Fintech Companies In Dallas To Know 2022 – Built In

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Olivia McClure is a staff writer for Built In’s brand studio. She previously covered professional development and tech industry trends for BuiltIn.com. She holds a bachelor of arts in English and multimedia journalism from Loyola University Chicago.
Olivia McClure is a staff writer for Built In’s brand studio. She previously covered professional development and tech industry trends for BuiltIn.com. She holds a bachelor of arts in English and multimedia journalism from Loyola University Chicago.
As one of the nation’s leading business hubs, Dallas naturally boasts a burgeoning financial industry. Like other tech capitals across the country, this Western metropolis has played a large part in expanding the nation’s fintech sector. According to The Dallas Morning News, Dallas’ recent financial activity has even outpaced that of major cities like New York and San Francisco, causing household names like Charles Schwab and JPMorgan Chase to open up offices across the city. With its nationally-ranked academic institutions and strong history of innovation, Dallas is undoubtedly an epicenter of tech talent, which is why the city has become a ringleader in the fintech realm. 
Fintech companies in and around Dallas have taken different approaches to reshaping the financial industry. While one is developing a novel way to make life insurance more accessible, another is reinventing the world of digital banking. For each of Dallas’ established and fledgling fintech leaders, changing the future of finance is a part of the daily grind. Here’s a look at 17 Dallas fintech companies doing their part to disrupt a leading industry. 
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Read More in DFW13 Dallas-Area Companies Ranked on the Deloitte 2021 Technology Fast 500 List
 
Founded: 1998 
Focus: Financial Services + Energy  
What they do: When businesses are ready to transition into the digital age, Capco steps in to assist. The consulting firm leverages teams made up of designers, creatives, engineers, business professionals, and more. Whether companies want to embrace cloud security solutions or tap into new sources of revenue, Capco tailors its broad skill set to meet the specific circumstances of each organization. 
 
Founded: 1799
Focus: Banking + Financial Services
What they do: With a thoughtful approach to finance, JPMorgan Chase has become the go-to financial hub for a range of customers. Governments, corporations, small businesses, and wealthy individuals have all come to trust the institution. Besides offering versatile financial tools, JPMorgan Chase also leverages its resources to nourish more prosperous and sustainable communities. 
 
Founded: 2018
Focus: Business Intelligence + Financial Reporting
What they do: It’s a huge advantage to have financial reporting available in real time, and OverlayAnalytics is determined to deliver this edge to its clients. The company has developed a platform that gathers data from multiple sources, organizes the information, and produces instant financial reports. With accurate and fast-paced methods, businesses can maintain a thorough understanding of their data and financial health.   
 
Founded: 1994
Focus: Banking + Financial Services
What they do: Capital One is blending peace of mind with advanced technology to create a seamless digital experience for its customers. The organization has adapted its products for online platforms that include a mobile app, cardless paying capabilities, and ways to pay with ApplePay and other contactless methods. Plus, virtual card numbers allow people to protect their personal information while completing online transactions, making for a smoother payment process.  
 
Founded: 2016
Focus: Life Insurance
What they do: Bestow creates products and software with the intention of making life insurance more accessible. Utilizing data and AI, the company enables people to discover if they’re approved for life insurance by simply answering a few questions, thus taking the hassle out of the insurance process. Additionally, Bestow’s APIs allow their partners to offer bespoke life insurance coverage to their customers. 
 
Founded: 1991
Focus: Business Tax Services
What they do: Ryan is a global tax services and software provider dedicated to liberating its clients from the burden of being overtaxed so they can free up their capital to invest, grow and thrive. The company specializes in tax recovery, strategic consulting, compliance processes management and more. Ryan’s client base includes American Airlines, BP, Chevron and Cintas. 
 
Founded: 1996
Focus: Tax Solutions
What they do: Based in neighboring Irving, Blucora is dedicated to bringing simplicity and transparency to the tax filing process. The company operates a portfolio of brands, which includes the online tax filing system, TaxAct as well as the financial advisory organization Avantax Wealth Management. Blucora’s aim is to empower people with the tools, knowledge and services they need to increase their wealth and improve their financial future. 
Founded: 2012
Focus: Digital Clearing + Custody
What they do: Apex Clearing Corporation provides digital clearing and custody solutions to enable frictionless investment access. The company’s clearing and custody platform boasts industry networking and tooling integrations to support a variety of financial instruments, while their suite of APIs facilitates the complete trading and investing lifecycle. Apex Clearing Corporation collaborates with various organizations including Robinhood, STASH, SoFi and Firstrade.
 
Founded: 2018
Focus: Cryptocurrency
What they do: Zabo has developed an API that connects crypto wallets to any application with a few lines of code. The company’s API is designed to reduce integration lead times by up to 80 percent, helping users save time while lending their applications greater reliability and data consistency. Zabo’s technology can be used for financial tracking, digital banking, investments, lending, cryptocurrency taxes and more. 
 
Founded: 1940
Focus: Money Transfers
What they do: MoneyGram International specializes in cross-border, person-to-person money transfer and payment services. The company enables people to send money through in-store locations or online, offering a mobile app that allows users to pay bills, manage their personal information and view their transaction history. MoneyGram International currently offers its services in more than 200 countries and territories. 
 
Founded: 2018
Focus: Relationship-Based Lending
What they do: Zirtue has created a lending application designed to simplify loans between family and friends. Users can set their loan amount and payment terms before selecting a friend or family member and submitting their loan request, thus removing the need for early payment penalties and credit checks. Zirtue’s aim is to radically expand credit access and improve the lives of consumers while helping businesses increase profits. 
 
Founded: 2010
Focus: Digital Fundraising
What they do: Based in nearby Plano, iDonate has developed a digital fundraising platform for nonprofits. The company enables nonprofits to easily connect with their donors, execute digital fundraising strategies and discover new ways to grow their online giving. iDonate’s software integrates with a variety of CRMs including Blackbaud, Salesforce and Virtuous.
 
Founded: 2017
Focus: Embeddable Fintech
What they do: Quiltt enables organizations to enhance their digital apps with a variety of fintech capabilities. The company’s fintech features include bill tracking, budgeting, alerting and data aggregation. Quiltt intends to help its clients give their customers the tools they need in addition to providing visibility and access to their finances. 
 
Founded: 2009
Focus: Digital Banking
What they do: Located in neighboring Plano, Alkami offers a cloud-based digital banking platform. The company’s platform is designed to facilitate retail and business user on-boarding, engagement and account servicing, boasting fully-integrated money movement tools intended to increase deposits and drive user engagement. Alkami’s data engine also allows users to track performance and user engagement in an effort to improve competitiveness and business results. 
 
Founded: 2014
Focus: Bookkeeping
What they do: Clean Finances has created a central platform in an effort to make bookkeeping easier for businesses. The company’s mobile-compatible platform allows users to view month-over-month or year-to-date trends and check in with their dedicated bookkeeper about any financial questions they may have. Clean Finances’ mission is to help organizations save time, discover clarity and grow their businesses.
 
Founded: 2012
Focus: Decision Science + Loan Servicing
What they do: Located in nearby Fort Worth, BorrowWorks is dedicated to helping banks and lenders make smarter decisions to provide better options for non-prime customers. The company’s solutions include data analysis, payment processing, product strategy, risk mitigation and compliance. BorrowWorks integrations help finance companies deliver funds straight to consumers’ pockets, while their generational model shifts allow lenders to scale profit with less cost and reduced risk. 
 
Founded: 2018
Focus: Payday Lending
What they do: Situated in neighboring Plano, TrustFund aims to disrupt payday lending by providing people greater access to affordable loans. The company offers its clients a zero-fee Mastercard debit card and a FDIC-insured checking account in addition to smart tools designed to help people borrow and save money. TrustFund is dedicated to helping its customers make the most out of every paycheck, borrow better and plan for the future. 

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Biden begs for money for 2024 Campaign from local SF Bay Area tech leaders and talks AI

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Biden discusses risks and promises of artificial intelligence with tech leaders in San Francisco

SAN FRANCISCO (AP) — President Joe Biden convened a group of technology leaders on Tuesday to debate what he called the “risks and enormous promises” of artificial intelligence.

The Biden administration is seeking to figure out how to regulate the emergent field of AI, looking for ways to nurture its potential for economic growth and national security and protect against its potential dangers.

“We’ll see more technological change in the next 10 years that we saw in the last 50 years,” Biden said as the meeting with eight technology experts from academia and advocacy groups kicked off.

“AI is already driving that change,” Biden said.

The sudden emergence of AI chatbot ChatGPT and other tools has jumpstarted investment in the sector. AI tools are able to craft human-like text, music, images and computer code. This form of automation could increase the productivity of workers, but experts warn of numerous risks.

The technology could be used to replace workers, causing layoffs. It’s already being deployed in false images and videos, becoming a vehicle of disinformation that could undermine democratic elections. Governments, as well as the European Union, have said they are determined to regulate and put brakes on AI before it is too late.

Biden said social media has already shown the harm technology can do “without the right safeguards in place.”

In May, Biden’s administration brought together tech CEOs at the White House to discuss these issues, with the Democratic president telling them, “What you’re doing has enormous potential and enormous danger.”

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White House chief of staff Jeff Zients’ office is developing a set of actions the federal government can take over the coming weeks regarding AI, according to the White House. Top officials are meeting two to three times each week on this issue, in addition to the daily work of federal agencies. The administration wants commitments from private companies to address the possible risks from AI.

Biden met Tuesday at the Fairmont hotel in San Francisco with Tristan Harris, executive director of the Center for Human Technology; Jim Steyer, the CEO of Common Sense Media; and Joy Buolamwin, founder of the Algorithmic Justice League, among others. California Gov. Gavin Newsom was also in attendance.

Biden is also in the San Francisco area to raise money for this 2024 reelection campaign. At his first fundraiser of the night, Biden spoke about what he saw as freedoms under siege, particularly for the LGBTQ community and with the overturning of abortion protections by the U.S. Supreme Court. And as president, it’s his job to help safeguard the right to choose.

“I think the American people need to have the confidence that we’re going to do what we say we’re going to do,” he said.

Climate change has also been a priority in Biden’s speeches at the fundraisers. On Tuesday, he told a group that he expects that John Kerry, the special envoy for climate, will soon return to China for talks on reducing carbon emissions.

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Associated Press writer Barbara Ortutay in San Francisco contributed to this report.

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Microsoft makes case for Activision merger amid EU scrutiny

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Microsoft makes case for Activision merger amid EU scrutiny

BRUSSELS (AP) — Microsoft’s Xbox video game division on Tuesday announced new partnerships with Nintendo and chipmaker Nvidia as it tries to persuade European regulators to approve its planned $68.7 billion takeover of game publishing giant Activision Blizzard.

A key audience for the announcements were the European Union antitrust regulators who held a closed-door meeting Tuesday with executives from Microsoft and some of its competitors, including Sony and Google.

Microsoft announced a 10-year agreement with chipmaker Nvidia to bring Xbox games to Nvidia’s cloud gaming service. Microsoft also said it has now signed a similar deal with Nintendo, formalizing a commitment it revealed late last year.

What it does not have is an agreement with Xbox’s chief rival, PlayStation-maker Sony, which has sought to convince antitrust regulators around the world to stop the Activision Blizzard merger.

The all-cash deal, which is set to be the largest in the history of the tech industry, faces pushback from regulators in the U.S. and Europe because it would give Microsoft control of popular game franchises such as Call of Duty, World of Warcraft and Candy Crush.

The European Commission, the 27-nation bloc’s executive arm, has been investigating whether the merger would distort fair competition to popular Activision Blizzard game titles. It’s scheduled to make a decision by March 23.

Microsoft first announced the agreement to buy the California-based game publisher early last year, but the takeover has also been stalled in the U.S., where the Federal Trade Commission has sued to block the deal, and in Britain, where an antitrust watchdog’s provisional report said it will stifle competition and hurt gamers.

Microsoft, which is based in Redmond, Washington, has been counting on getting approval in either the EU or Britain to help advance its case in the U.S.

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Microsoft’s president, Brad Smith, said at a Brussels news conference after meeting with regulators Tuesday that he was “not in a position to say exactly what was said in the hearing room” but emphasized that Xbox has a much smaller share of the market than PlayStation does in Europe, and asserted that the deal would be good for the industry by bringing more games to more people.

“For us at Microsoft, this has never been about spending $69 billion so that we could acquire titles like Call of Duty and make them less available to people,” Smith said. “That’s actually not a great way to turn a $69 billion asset into something that will become more valuable over time.”

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Amid ChatGPT outcry, some teachers are inviting AI to class

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Amid ChatGPT outcry, some teachers are inviting AI to class

LEXINGTON, Ky. (AP) — Under the fluorescent lights of a fifth grade classroom in Lexington, Kentucky, Donnie Piercey instructed his 23 students to try and outwit the “robot” that was churning out writing assignments.

The robot was the new artificial intelligence tool ChatGPT, which can generate everything from essays and haikus to term papers within seconds. The technology has panicked teachers and prompted school districts to block access to the site. But Piercey has taken another approach by embracing it as a teaching tool, saying his job is to prepare students for a world where knowledge of AI will be required.

“This is the future,” said Piercey, who describes ChatGPT as just the latest technology in his 17 years of teaching that prompted concerns about the potential for cheating. The calculator, spellcheck, Google, Wikipedia, YouTube. Now all his students have Chromebooks on their desks. “As educators, we haven’t figured out the best way to use artificial intelligence yet. But it’s coming, whether we want it to or not.”

One exercise in his class pitted students against the machine in a lively, interactive writing game. Piercey asked students to “Find the Bot:” Each student summarized a text about boxing champion and Kentucky icon Muhammad Ali, then tried to figure out which was written by the chatbot.

At the elementary school level, Piercey is less worried about cheating and plagiarism than high school teachers. His district has blocked students from ChatGPT while allowing teacher access. Many educators around the country say districts need time to evaluate and figure out the chatbot but also acknowledge the futility of a ban that today’s tech-savvy students can work around.

“To be perfectly honest, do I wish it could be uninvented? Yes. But it happened,” said Steve Darlow, the technology trainer at Florida’s Santa Rosa County District Schools, which has blocked the application on school-issued devices and networks.

He sees the advent of AI platforms as both “revolutionary and disruptive” to education. He envisions teachers asking ChatGPT to make “amazing lesson plans for a substitute” or even for help grading papers. “I know it’s lofty talk, but this is a real game changer. You are going to have an advantage in life and business and education from using it.”

ChatGPT quickly became a global phenomenon after its November launch, and rival companies including Google are racing to release their own versions of AI-powered chatbots.

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The topic of AI platforms and how schools should respond drew hundreds of educators to conference rooms at the Future of Education Technology Conference in New Orleans last month, where Texas math teacher Heather Brantley gave an enthusiastic talk on the “Magic of Writing with AI for all Subjects.”

Brantley said she was amazed at ChatGPT’s ability to make her sixth grade math lessons more creative and applicable to everyday life.

“I’m using ChatGPT to enhance all my lessons,” she said in an interview. The platform is blocked for students but open to teachers at her school, White Oak Intermediate. “Take any lesson you’re doing and say, ‘Give me a real-world example,’ and you’ll get examples from today — not 20 years ago when the textbooks we’re using were written.”

For a lesson about slope, the chatbot suggested students build ramps out of cardboard and other items found in a classroom, then measure the slope. For teaching about surface area, the chatbot noted that sixth graders would see how the concept applies to real life when wrapping gifts or building a cardboard box, said Brantley.

She is urging districts to train staff to use the AI platform to stimulate student creativity and problem solving skills. “We have an opportunity to guide our students with the next big thing that will be part of their entire lives. Let’s not block it and shut them out.”

Students in Piercey’s class said the novelty of working with a chatbot makes learning fun.

After a few rounds of “Find the Bot,” Piercey asked his class what skills it helped them hone. Hands shot up. “How to properly summarize and correctly capitalize words and use commas,” said one student. A lively discussion ensued on the importance of developing a writing voice and how some of the chatbot’s sentences lacked flair or sounded stilted.

Trevor James Medley, 11, felt that sentences written by students “have a little more feeling. More backbone. More flavor.”

Next, the class turned to playwriting, or as the worksheet handed out by Piercey called it: “Pl-ai Writing.” The students broke into groups and wrote down (using pencils and paper) the characters of a short play with three scenes to unfold in a plot that included a problem that needs to get solved.

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Piercey fed details from worksheets into the ChatGPT site, along with instructions to set the scenes inside a fifth grade classroom and to add a surprise ending. Line by line, it generated fully formed scripts, which the students edited, briefly rehearsed and then performed.

One was about a class computer that escapes, with students going on a hunt to find it. The play’s creators giggled over unexpected plot twists that the chatbot introduced, including sending the students on a time travel adventure.

“First of all, I was impressed,” said Olivia Laksi, 10, one of the protagonists. She liked how the chatbot came up with creative ideas. But she also liked how Piercey urged them to revise any phrases or stage directions they didn’t like. “It’s helpful in the sense that it gives you a starting point. It’s a good idea generator.”

She and classmate Katherine McCormick, 10, said they can see the pros and cons of working with chatbots. They can help students navigate writer’s block and help those who have trouble articulating their thoughts on paper. And there is no limit to the creativity it can add to classwork.

The fifth graders seemed unaware of the hype or controversy surrounding ChatGPT. For these children, who will grow up as the world’s first native AI users, their approach is simple: Use it for suggestions, but do your own work.

“You shouldn’t take advantage of it,” McCormick says. “You’re not learning anything if you type in what you want, and then it gives you the answer.”

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Associated Press writer Sharon Lurye contributed to this report from New Orleans.

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The Associated Press education team receives support from the Carnegie Corporation of New York. The AP is solely responsible for all content.

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