FinTech

FinTech or financial technology refers to technology that seeks to improve and automate the delivery and use of financial services.

David K.A. Mordecai Participated in Demo Day 2022 for FinTech Innovation Lab

David K.A. Mordecai Participated in Demo Day 2022 for FinTech Innovation Lab

David K.A. Mordecai participated in Demo Day 2022 for FinTech Innovation Lab (FTIL) on June 24, 2022, 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, Dr. Mordecai is one of eight Executives-in-Residence for the FTIL Mentors Network. The FTIL Mentors Network is comprised of over 30 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 financial technology (FinTech) companies.

David K.A. Mordecai Participated in Demo Day 2022 for FinTech Innovation Lab

Demo Day

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 40 supporting financial institutions and venture capital firms selected the current set of participants for the 2022 cycle, which included the following:

  • Coverforce (New York) – which partners with national property and casualty carriers to standardize their distribution application programming interfaces (APIs) and build customized platforms for Independent Agency Networks, strengthening the carrier/agency relationship.
  • Draivn (Den Haag, Netherlands) – whose platform collects data from any telematics or internet of things devices that transportation fleets are equipped with and converts it into real-time analytics for fleet insurers and brokers.
  • Evercity (Berlin) – whose blockchain-based sustainability measurement and investment platform automates issuance, management and monitoring of sustainable finance.
  • Ion Channel (Alexandria, Virginia, USA) – whose software supply chain management platform identifies and monitors third-party security risk from software suppliers (vendors, outsourced app developers, contractors, and open source).
  • LeapXpert (New York) – whose platform creates an accessible digital record of all business interactions carried out over mobile messaging applications, giving organizations peace of mind that their data will be secure and meet compliance requirements.
  • Mark Labs (New York) – whose AI/ML stewardship platform helps asset managers define impact metrics, engage with investors and portfolio companies, and link their capital allocations to the pursuit of real-world environmental, social, and governance outcomes alongside targeted financial returns.
  • Messari (New York) – whose market intelligence platform provides in-depth crypto market research, analysis, data, diligence tools, and more for crypto business professionals.
  • Railz (Toronto) – whose API provides financial institutions and fintechs with instant, real-time access to their business customers’ financial data from different sources (accounting, banking, tax, e-commerce) to make better data-driven decisions.
  • Straylight Systems (New York) – whose AI solution automatically creates secure software code that is trustworthy and reliable.

David Mordecai advises research activities at RiskEcon® Lab @ Courant Institute of Mathematical Sciences NYU and is President and Co-Founder of Risk Economics, Inc.

About RiskEcon® Lab @ Courant Institute

The mission of RiskEcon® Lab for Decision Metrics @ Courant Institute of Mathematical Sciences NYU is the development of experimental testbeds and analytics that employ high-dimensional datasets from innovative sources by applying a range of computational and analytical methods to commercial and industrial sensor networks and edge computing embedded systems, focusing primarily on research and development (R&D) of remote- and compressed- sensing, anomaly detection, forensic analytics and statistical process control. By employing applied computational statistics within the context of robust and scalable data analytic solutions, the goal is robust and reliable integration of machine learning with signal processing for measurement and control, in order to conduct research fundamental to large-scale, real-world questions in risk and liability management in the public interest.

RiskEcon® Lab for Decision Metrics was established in 2011 at Courant Institute of Mathematical Sciences, an independent division of New York University (NYU). Courant is considered to be one of the world’s leading mathematics educational and scientific research centers, and has been ranked first in research in applied mathematics. RiskEcon® Lab is the cornerstone of the Computational Economics and Algorithmic Data Analytics (CEcADA) cooperative at New York University, established concurrently in 2011.

David K.A. Mordecai Participated in Demo Day 2021 for FinTech Innovation Lab

David K.A. Mordecai Participated in Demo Day 2021 for FinTech Innovation Lab

David K.A. Mordecai participated in Demo Day 2021 for FinTech Innovation Lab (FTIL) on June 24, 2021, 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 eight Executives-in-Residence for the FTIL Mentors Network. The FTIL Mentors Network is comprised of over 30 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 financial technology (FinTech) companies. Due to the ongoing COVID-19 pandemic, the entire FTIL 2021 cycle was conducted remotely. In addition, FTIL Demo Day 2021 was held remotely via YouTube, marking the second time FTIL Demo Day was conducted entirely online.

David K.A. Mordecai Participated in Demo Day 2021 for FinTech Innovation Lab

Demo Day

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 44 supporting financial firms selected the current set of ten participants for the 2021 cycle.

  • Cinchy (Toronto, Canada): A Data Fabric platform used by a growing number of the world’s most complex financial institutions to eliminate integration and data silos
  • CoverGo (Hong Kong/Singapore): Offers a configurable, modular, no-code insurance platform powered by 500+ insurance application programming interfaces (APIs) to automate processes and enable digital transformation at record speed
  • Delio (Cardiff, UK): White-labeled technology and infrastructure enabling the creation of connected distribution platforms and marketplaces for transforming private markets—integrating deal origination, distribution, transaction and reporting into structured and highly configurable workflows
  • Quarrio (Berkeley, CA): Conversational analytics product enables sales teams to ask questions about enterprise data and receive answers within seconds
  • Rightfoot (San Francisco, CA): Creates APIs that enable developers to quickly and easily add student debt repayment (and soon, any type of debt repayment) capabilities into any app
  • Safekeep (New York, NY): Award-winning AI-driven claims solution increases recovery potential and reduces effort by as much as 90%
  • SPIN Analytics (London, UK/New York, NY): An explainable AI platform, RISKROBOT™, providing10x acceleration, automated data preparation and management, model development, regulatory documentation, validation and monitoring for credit risk management in banks
  • The Climate Service (Durham, NC): Developed their Climanomics® software as a service platform that enables investors and corporations to incorporate climate risks into their strategic planning, risk management, and climate risk disclosure processes
  • Util (London, UK): A platform that autonomously gathers and quantifies sustainability data about companies, products, services and portfolios at scale
  • Vesttoo (Tel Aviv, Israel): A company that provides data-driven risk modeling for the L&P and P&C insurance markets, providing insurers and pension funds with affordable, strategic risk transfer to the capital markets, while investors benefit from uncorrelated, high-yield investments with remote loss possibilities

David Mordecai advises research activities at RiskEcon® Lab @ Courant Institute of Mathematical Sciences NYU and is President and Co-Founder of Risk Economics.

About RiskEcon® Lab @ Courant Institute

The mission of RiskEcon® Lab for Decision Metrics @ Courant Institute of Mathematical Sciences NYU is the development of experimental testbeds and analytics that employ high-dimensional datasets from innovative sources by applying a range of computational and analytical methods to commercial and industrial sensor networks and edge computing embedded systems, focusing primarily on research and development (R&D) of remote- and compressed- sensing, anomaly detection, forensic analytics and statistical process control. By employing applied computational statistics within the context of robust and scalable data analytic solutions, the goal is robust and reliable integration of machine learning with signal processing for measurement and control, in order to conduct research fundamental to large-scale, real-world questions in risk and liability management in the public interest.

RiskEcon® Lab for Decision Metrics was established in 2011 at Courant Institute of Mathematical Sciences, an independent division of New York University (NYU). Courant is considered to be one of the world’s leading mathematics educational and scientific research centers, and has been ranked first in research in applied mathematics. RiskEcon® Lab is the cornerstone of the Computational Economics and Algorithmic Data Analytics (CEcADA) cooperative at New York University, established concurrently in 2011.

David K.A. Mordecai Participated in Demo Day 2020 for FinTech Innovation Lab

David K.A. Mordecai Participated in Demo Day 2020 for FinTech Innovation Lab

David K.A. Mordecai participated in Demo Day 2020 for FinTech Innovation Lab (FTIL) on June 25, 2020, 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 six 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 financial technology (FinTech) companies.

Due to the COVID-19 pandemic, the entire FTIL 2020 cycle was conducted remotely. In addition, FTIL Demo Day 2020 was held remotely via YouTube, making it the first such FTIL Demo Day to be conducted entirely online.

FinTech Innovation Lab
Demo Day 2020
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 43 supporting financial firms selected the current set of ten participants for the 2020 cycle:

  • Alkymi: Uses machine learning to create a data inbox that extracts business data from email and documents to accelerate business processes.
  • ArthurAI: A production Artificial Intelligence (AI) monitoring platform that seeks to provide enterprises with the tools to detect model performance issues proactively, provide auditability and explainability to black box decisioning, and measure algorithmic bias to ensure fair decisioning.
  • Broker Buddha: A software-as-a-service (SaaS) platform for independent agents that helps them grow their business through interactive customer, friendly, online applications.
  • ClauseMatch: A content collaboration platform seeking to enable financial institutions’ global compliance and risk teams to interact with, review and approve centralized policy documents with a precise audit trail mapping them to regulatory obligations to help ensure regulatory compliance.
  • Datafleets: An enterprise federated intelligence platform that uses machine learning to analyze unseen, sensitive data to generate business insights without compromising data privacy.
  • Knoema: A knowledge and data management firm that works with corporates, buyside and sellside firms to manage, catalog and discover all of their subscription, public and internal data assets.
  • Sigma Ratings: A counterparty risk platform that seeks to leverage machine learning and deep domain expertise to enable automated entity-level risk benchmarking and ongoing monitoring of non-credit risks at scale.
  • SkyHive: An AI technology that seeks to transform the reskilling process for workers and workforces. SkyHive rapidly identifies internal skill sets, compares to the external labor market, identifies emerging and future skills, and automates the navigation of reskilling to the future state in real-time.
  • Summer: Seeks to help student loan borrowers lower their debt by using technology and industry expertise to identify and enroll them in the best possible repayment plan for their financial situation.
  • True Flood Risk: An AI-driven property risk management platform that seeks to provide individual property level data & real time analytics helping banks, insurers, property owners and risk mitigation experts identify and quantify the financial impact of flood risk in real-time.

David Mordecai leads research activities at RiskEcon® Lab @ Courant Institute of Mathematical Sciences and is President of Risk Economics.

About RiskEcon® Lab @ Courant Institute
The mission of RiskEcon® Lab for Decision Metrics @ Courant Institute of Mathematical Sciences is the development of experimental testbeds and analytics that employ high-dimensional datasets from innovative sources by applying a range of computational and analytical methods to commercial and industrial sensor networks and edge computing embedded systems, focusing primarily on research and development (R&D) of remote- and compressed- sensing, anomaly detection, forensic analytics and statistical process control. By employing applied computational statistics within the context of robust and scalable data analytic solutions, our goal is robust integration of machine learning with signal processing for measurement and control, in order to conduct research fundamental to large-scale, real-world questions in risk and liability management.

RiskEcon® Lab enables, facilitates and coordinates academic research focusing on these patterns and trends, through the development of commercially-viable, analytic applications employing computational statistical tools in conjunction with innovative and non-traditional data structures. In addition, the lab’s activities involve the advancement of applied mathematical statistics and computational economics, through interdisciplinary post-doctoral, postgraduate, graduate research and education in data science and social computing.

RiskEcon® Lab for Decision Metrics was established in 2011 at Courant Institute of Mathematical Sciences, an independent division of New York University (NYU). Courant is considered to be one of the world’s leading mathematics educational and scientific research centers, and has been ranked first in research in applied mathematics. RiskEcon® Lab is the cornerstone of the Computational Economics and Algorithmic Data Analytics (CEcADA) cooperative at New York University, established concurrently in 2011.

About the Partnership Fund for New York City
The Partnership Fund for New York City is the $160 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 entrepreneurs — in both the for-profit and nonprofit sectors – to create jobs, spur new business and expand opportunities for New Yorkers to participate in the City’s economy. As an “evergreen” fund, realized gains are continuously reinvested.

Samantha Kappagoda was Invited to Present at the Barclays Second Annual Digital Leader Series

Samantha Kappagoda was Invited to Present at the Barclays Second Annual Digital Leader Series

Samantha Kappagoda, Chief Economist of Risk Economics and also co-advising research activities at RiskEcon® Lab @ Courant Institute of Mathematical Sciences NYU was invited to present and facilitate a discussion at the Barclays Second Annual Digital Leader Series on November 14, 2019 in New York City.

Ms. Kappagoda discussed the Role of Data in AI along with Sharon Cohen Levin, Partner, Litigations Group & Member Criminal Defense and Investigations Group at Sullivan & Cromwell. Courtney Kidd Chubb, Head of Operations and Sector Strategist at Deloitte presented on AI and Talent and Emma Roberts, Senior Global Program Lead at Leanin.Org co-presented AI in the Workplace with Amy Auton-Smith, CEO of FairFrame. Closing remarks were given by Jami Miscik, CEO and Vice Chairman of Kissinger Associates.

Samantha Kappagoda was Invited to Present at the Barclays Second Annual Digital Leader Series

Barclays Annual Digital Leader Series is hosted by and for women executives who are focused on financials and technology, including credit cards, payments and FinTech. This series offers an opportunity for women in complimentary industries to network and have direct and meaningful discussion about topics of mutual interest.

About Risk Economics, Inc.
Risk Economics is a New York based advisory firm founded in 1999, providing advisory services at the intersection of commercial business-process engineering and risk engineering with a particular focus on coupling commercial reinsurance and financial technology, through the rigorous application of agent-based, demographic, and statistical methodologies to microeconomic and macroeconomic analytics.

David K.A. Mordecai Participated in Demo Day 2019 for FinTech Innovation Lab

David K.A. Mordecai Participated in Demo Day 2019 for FinTech Innovation Lab

David K.A. Mordecai participated in Demo Day 2019 for FinTech Innovation Lab (FTIL) on June 27, 2019, 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 six 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.

David K.A. Mordecai Participated in Demo Day 2019 for FinTech Innovation Lab

Demo Day 2019
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 (CTOs) from the 44 supporting financial firms selected the current set of 11 participants for the 2019 cycle:
  • CloudFrame: Transforms legacy mainframe applications into cloud-native Java without adding undue risk to data and business processes.
  • Cyberwrite: Provides a simple-to-understand report on the risks and financial impact of cyber-attacks on any small or medium-sized business worldwide.
  • Extend: The Extend digital credit card redefines how credit cards are issued and shared and provides virtual credit card distribution without requiring any bank tech development.
  • FairFrame: FairFrame is an innovative technology platform that combines decades of social science research with AI in an easy-to-use text analysis platform to give real-time, personalized feedback on potential stereotype and unconscious bias, as well as new data insights and a suite of diversity analytics.
  • Genus AI: Next-generation enterprise AI platform that helps financial institutions understand and engage with customers in an emotionally intelligent way, driving retention and revenue.
  • Goalsetter: A savings and gifting platform that enables families to use social savings, gifts and gamification to teach kids financial literacy and independence, backed by an FDIC-insured account.
  • Hyperscience: Uses proprietary machine learning technology to automate data entry and streamline document processing for large enterprises by extracting handwritten, printed and highly distorted text at accuracy levels surpassing manual data entry.
  • Inpher: Uses cryptographic technology to power advanced analytics and AI applications without exposing or transferring sensitive data across departments, organizations or jurisdictions.
  • Magma Trading: A new kind of stock market that allows broker-dealers to trade large blocks of equities. Magma’s structure allows market-making firms to post large potential trades without fear of getting run over by high-speed electronic sweeps.
  • npm: Manages the world’s largest software registry, empowering 11 million JavaScript developers with industry-leading tools and services. npm lowers engineering costs, reduces time to market and improves the user experience while providing a greater level of security.
  • Theta Lake: Cloud-based communication compliance platform that uses AI and deep learning to detect compliance risks in what was said, shared and shown — driving down the cost of compliance.

David Mordecai advises research activities at RiskEcon® Lab @ Courant Insititute of Mathematical Sciences and is President of Risk Economics.

About RiskEcon® Lab @ Courant Institute

The mission of RiskEcon® Lab for Decision Metrics @ Courant Institute of Mathematical Sciences is the development of experimental testbeds and analytics that employ high-dimensional datasets from innovative sources by applying a range of computational and analytical methods to commercial and industrial sensor networks and edge computing embedded systems, focusing primarily on research and development (R&D) of remote- and compressed- sensing, anomaly detection, forensic analytics and statistical process control.

RiskEcon® Lab for Decision Metrics was established in 2011 at Courant Institute of Mathematical Sciences, an independent division of New York University (NYU). Courant is considered to be one of the world’s leading mathematics educational and scientific research centers, and has been ranked first in research in applied mathematics. RiskEcon® Lab is the cornerstone of the Computational Economics and Algorithmic Data Analytics (CEcADA) cooperative at New York University, established concurrently in 2011.

About the Partnership Fund for New York City

The Partnership Fund for New York City is the $160 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 entrepreneurs — in both the for-profit and nonprofit sectors – to create jobs, spur new business and expand opportunities for New Yorkers to participate in the City’s economy. As an “evergreen” fund, realized gains are continuously reinvested.

David K.A. Mordecai Participated in Demo Day 2018 for FinTech Innovation Lab

David K.A. Mordecai Participated in Demo Day 2018 for FinTech Innovation Lab

David K.A. Mordecai participated in Demo Day 2018 for FinTech Innovation Lab (FTIL) on June 21, 2018, 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 Mordecai is one of five 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.

FinTech Innovation Lab

Demo Day 2018
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 11 participants for the 2018 cycle:

  • Alpha Vertex: uses graphical analysis to find hidden correlations in data for uses in trading.
  • Cutover: automates critical technology improvement processes and helps financial services organizations successfully deliver more technology improvements for their customers and regulators while reducing the risk of outages.
  • Diffeo: AI-powered research assistant connects everyday tools — including the web, email, shared drives and enterprise data portals — to uncover relationships across vast amounts of disparate data and present valuable insights in areas such as financial crimes, credit risk and client management.
  • Galactic Fog: provides an easy-to-use platform for enterprise development and ops teams to rapidly build, deploy and manage cross-cloud serverless and container technologies, while driving improved security through seamless audit and governance capabilities.
  • Habit: gathers information from smartphone and IoT devices to create behavioral profiles which allow insurance companies to improve their risk models and offer better products.
  • LiveOak: allows the FIs to on-board new customers remotely and focused on those situations where there are complex forms and lots of paperwork and multiple parties required.
  • Open Data Nation: uses its extensive collection of municipal data to help insurance companies better understand the risk of the environment in which they are writing individual policies.
  • StrongArm Tech: uses wearable sensors and AI-drive analysis to collect, analyze and predict insights on industrial workers in order to mitigate risk of injury.
  • Uplevel: allows FI’s to respond more quickly and efficiently to cyber security events by linking events graphically.
  • Virtualitics: combines artificial intelligence and virtual reality so that the user can get a different set of insights and better explain the “black box” on complex models.
  • YayPay: automates the collections process for merchants and enables better tracking and analytics of this traditionally manual and time-consuming process.

About FinTech Innovation Lab
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.