ABF Journal’s 2023 Most Innovative Companies in Specialty Finance
The world around us is changing seemingly by the second. In the last year, artificial intelligence has become an ever more integrated part of mainstream culture with the advent of ChatGPT last November. Although some of the technological progress being made threatens to hurtle us into the dystopian worlds science fiction novels have been warning us about for decades, there are plenty of benefits to be found in innovation. But innovation is more than just slapping the word AI or technology in your company description. True innovators are finding creative ways to use such cutting-edge technology, while others are innovating in ways that don’t even require a computer, let alone sophisticated algorithms and machine learning.
That brings us to ABF Journal’s fourth annual list of the Most Innovative Companies in Specialty Finance. In the following pages, you’ll read about this year’s honorees, who range from asset-based lenders and major banks to specialty lenders, service providers and more. Given the swath of companies on this year’s list, we are once again bringing back categories, as not every innovator innovates in the same way. However, just as the world around us is evolving, so are we, so this year’s categories are a bit different than 2022 and better reflect the spirit of the honorees. Here’s a breakdown of each category:
- ACCELERATING – Companies in this category were already forward-thinking, but now they are pushing the envelope even more by making focused investments in innovation.
- ENHANCING – Companies in this category are improving their processes and services rapidly to drive and support the pace of progressive change in the industry.
- EMERGING – One of our returning categories, companies in this section are relatively newer entrants or platforms introducing innovation that will shape the future of the industry.
- IMPACT – For this returning category, companies were selected because they are using innovation to better the industry and maybe even the world.
- TRANSFORMING – Companies in this category know that innovation sometimes means taking risks and making major changes and additions to position themselves for success.