David K.A. Mordecai participated in Demo Day 2017 for FinTech Innovation Lab (FTIL) on June 22, 2017, as Scientist-in-Residence for FTIL. FTIL is an accelerator platform for early and growth stage technology firms, organized by the Partnership Fund for New York City, in conjunction with Accenture and a consortium of venture capital firms and global financial institutions.
As Scientist-in-Residence for FTIL, David K.A. Mordecai is one of four distinguished senior advisors who are members of the FTIL Mentors Network, comprised of seasoned entrepreneurs that have successfully launched and scaled a financial technology company to acquisition or IPO. Members of the Network serve as mentors and informal advisors for companies accepted into FTIL, providing guidance on the broad range of issues faced by senior management of fintech companies. The other three senior advisors that serve in a similar capacity for the FTIL portfolio companies as David Mordecai are CTO-in-Residence Andy Brown, former Group Chief Technology Officer at UBS, and Executive-in-Residence Cristobal Conde, former Chief Executive Officer of Sungard, and starting in 2017, Jonah Crane former U.S. Treasury Assistant Deputy Secretary serving as Regulator-in-Residence.
Demo Day 2017
Applicants to FTIL must have at least a working beta version of their technology that is ready for testing in either the institutional or retail market. The Chief Technology Officers from the 16 supporting financial firms selected the current set of eight participants for the 2017 cycle:
- Alloy: API/software that optimizes and automates customer on-boarding and AML/KYC checks. Through its dashboard and API, Alloy helps financial institutions integrate multiple sources of data increasing the speed and transparency of customer onboarding.
- BehavioSec: Multi-layered behavioral biometrics security solution that verify users’ identity by analyzing the unique patterns in how they type, click, hold and swipe on their devices to help combat fraud and improve user experience.
- Cutting Edge: Provider of NetAbstraction, a patented cloud-based cybersecurity solution that obscures and varies a company’s network path and location to prevent cyber-attacks. It protects networks, communications, applications and data that flow between the enterprise, the Internet and the cloud while maintaining carrier grade performance.
- DemystData: Cloud-based platform that allows financial institutions to explore and integrate new data more rapidly and gain a 360-degree view of data usage within their organizations.
- Detectica: AI-integrated system to uncover regulatory and reputation risk from employee misconduct by enabling in-depth investigation of electronic communications and employee activity.
- dMetrics: Places AI-driven, high-precision, adaptive reading platform (Minsky) in the hands of every business professional to reveal valuable insights from a wide range of unstructured data.
- Modelshop: Modelshop is the only technology on the market today that allows financial institutions to move mission critical financial analysis from spreadsheets into a collaborative, secure and real-time environment without coding.
- Nova Credit: The world’s premier cross-border Consumer Reporting Agency. Nova delivers instant overseas credit data to lenders so they can underwrite the millions of immigrants in the USA.
About FinTech Innovation Lab
The FinTech Innovation Lab accelerates market access for early- and growth-stage FinTech companies to the world’s leading financial institutions. FinTech Innovation Lab alumni from across the globe have raised $530 million in venture capital financing since participating in the Lab; New York participants alone have raised more than $460 million. The selection committee for the New York FinTech Innovation Lab is comprised of the following 16 financial institutions: Ally Financial; American Express; American International Group, Inc.; Bank of America; Barclays; BlackRock; Capital One; Citi; Credit Suisse; Deutsche Bank; Goldman Sachs; The Guardian Life Insurance Company of America; JPMorgan Chase & Co; Morgan Stanley; New York Life; and Wells Fargo. Supporting venture-capital firms include Bain Capital Ventures, Canaan Partners, Contour Venture Partners, Nyca Partners, Rho Ventures, RRE Ventures and Warburg Pincus.
The success of the FinTech Innovation Lab in New York has led to the founding of three other FinTech Innovation Labs around the world by Accenture — the FinTech Innovation Lab London, which was founded in 2012, and the FinTech Innovation Lab Asia-Pacific in Hong Kong and the FinTech Innovation Lab Dublin, which were both established in 2014.
About Partnership Fund for New York City
The Partnership Fund for New York City, founded by Henry R. Kravis, is the $150 million investment arm of the Partnership for New York City, New York’s leading business organization. The Fund’s mission is to engage the City’s business leaders to identify and support promising NYC-based entrepreneurs in both the for-profit and non-profit sectors to create jobs, spur new business and expand opportunities for New Yorkers to participate in the City’s economy.
About Accenture
Accenture is a leading global professional services company, providing a broad range of services and solutions in strategy, consulting, digital, technology and operations. Combining unmatched experience and specialized skills across more than 40 industries and all business functions – underpinned by the world’s largest delivery network – Accenture works at the intersection of business and technology to help clients improve their performance and create sustainable value for their stakeholders. With more than 411,000 people serving clients in more than 120 countries, Accenture drives innovation to improve the way the world works and lives.
