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 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.

Blockchain

AlphaPoint Appoints David K.A. Mordecai as a Scientific Board Advisor

AlphaPoint, a blockchain company, offering financial technology solutions for institutional operators by providing global access to digital assets and cryptocurrencies, affirmed the 2016 appointment of David K.A. Mordecai, President of Risk Economics, as Scientific Board Advisor. The appointment to the Alphapoint Advisory Board of Kamran Rafieyan, Co-Founder at Enceladus Trading and Sandra Ro, Managing Partner and Chief Operating Officer at UWINCorp was also announced.

AlphaPoint is described as “a global financial technology company helping institutions make illiquid assets liquid. Through its secure, scalable, and customizable distributed ledger platform, AlphaPoint enables customers to digitize assets as well as launch and operate markets.”

Blockchain

Alphapoint was a graduate in the 2016 cohort for FinTech Innovation Lab (FTIL), a highly competitive program that helps early- to growth-stage companies in fintech industry grow their business with support from the world’s top financial service firms. David Mordecai has served as the first Scientist-in-Residence for FTIL since his appointment in 2013.

Read the AlphaPoint press release here: https://www.globenewswire.com/news-release/2018/03/15/1438333/0/en/AlphaPoint-Appoints-FinTech-and-Capital-Markets-Veterans-to-Advisory-Board.html.

About Risk Economics, Inc.

Risk Economics specializes in economic analysis of risk and liability. It provides 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.The Risk Economics® client roster is diverse and includes governmental and quasi-governmental agencies, global insurance and reinsurance firms, leading law firms, technology firms, global banking institutions, asset management firms, multinational corporations with interests in natural resources, commodities, and energy, as well as government agencies and regulators.

Samantha Kappagoda and David K.A. Mordecai Were Appointed as Scientific Board Advisors to ForwardLane

Samantha Kappagoda and David K.A. Mordecai Were Appointed as Scientific Board Advisors to ForwardLane

Samantha Kappagoda and David K.A. Mordecai were appointed as Scientific Board Advisors to ForwardLane.

ForwardLane is described as “powerful artificial intelligence technology [that] provides advisors of all sizes with signals and next-best actions prompts”. ForwardLane was a graduate in the 2016 cohort of FinTech Innovation Lab (FTIL), a highly competitive program that assists early- to growth-stage companies in the fintech industry grow their businesses with support from the leading global financial service firms. Dr. Mordecai has served as the first Scientist-in-Residence for FTIL since his appointment in 2013.

Samantha Kappagoda and David K.A. Mordecai Were Appointed as Scientific Board Advisors to ForwardLane

Samantha Kappagoda is Chief Economist of Risk Economics® and co-advises research activities at RiskEcon® Lab @ Courant Institute of Mathematical Sciences. David Mordecai is President of Risk Economics® and advises research activities at RiskEcon® Lab.

About Risk Economics, Inc.

Risk Economics specializes in economic analysis of risk and liability. It provides 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.

The Risk Economics® client roster is diverse and includes governmental and quasi-governmental agencies, global insurance and reinsurance firms, leading law firms, technology firms, global banking institutions, asset management firms, multinational corporations with interests in natural resources, commodities, and energy, as well as government agencies and regulators.

David K.A. Mordecai Participated in Demo Day 2017 for FinTech Innovation Lab

David K.A. Mordecai Participated in Demo Day 2017 for FinTech Innovation Lab

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.

FinTech Innovation Lab
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.

David K.A. Mordecai was a Speaker at Swissnex The Power of Big Data – Shaping the Future of FinTech

David K.A. Mordecai was a Speaker at Swissnex The Power of Big Data – Shaping the Future of FinTech

David K.A. Mordecai was an invited speaker at the Swissnex The Power of Big Data – Shaping the Future of FinTech program, part of their Future of Money Series, that took place on June 30, 2016 in New York City.

The disruptive waves of FinTech innovation, emerging technology and investment are rapidly transforming finance.  Large quantities of data are constantly aggregated – this data is typically “cloudy” and can be impossible to analyze without the right tools. A cross-border panel of Swiss and American experts were brought together to discuss technological, innovative and entrepreneurial aspects that bring the FinTech industry to the next level. This panel was moderated by Peter Rudegeair a reporter at The Wall Street Journal and David Mordecai’s co-panelists included:

  • Patrick Barnert, Chief Executive Officer, Qumram
  • Alexandre Gaillard, Chief Executive Officer and Founder, InvestGlass
  • Braxton McKee, Chief Executive Officer and Founder, Ufora

David K.A. Mordecai was a Speaker at Swissnex The Power of Big Data – Shaping the Future of FinTech

David K.A. Mordecai Participated in Demo Day 2016 for FinTech Innovation Lab

David K.A. Mordecai Participated in Demo Day 2016 for FinTech Innovation Lab

David K.A. Mordecai participated in Demo Day 2016 FinTech Innovation Lab (FTIL) on June 23, 2016 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 three 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 two senior advisors that serve in a similar capacity for the FTIL portfolio companies as David K.A. 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.

David K.A. Mordecai Participated in Demo Day 2016 for FinTech Innovation Lab

Demo Day 2016
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 15 supporting financial firms selected the current set of eight participants for the 2016 cycle:

David K.A. Mordecai is President and Co-Founder of Risk Economics, a New York City based advisory firm, specializing in the application of computational economics to the proprietary development and scalable implementation of robust modeling and data analytic frameworks for valuation, strategic and systemic risk analysis, and dynamic asset-liability management. The scope of activities includes applying the expertise of Risk Economics in product development, as well as FinTech strategy and process engineering, to the commercialization of R&D for risk and liability management analytics. David Mordecai also leads research activities at RiskEcon® Lab for Decision Metrics and Visiting Scholar, Courant Institute of Mathematical Sciences NYU.

About FinTech Innovation Lab
FinTech Innovation Lab’s 31 alumni companies have raised a total of $296 million in financing after participating in the program, and four have been acquired, two in 2015 alone, including Standard Treasury and BillGuard. Financial services firms supporting the Lab are: 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.

About Partnership Fund for New York City
The Partnership Fund for New York City was founded by Henry R. Kravis, and is led by CEO and President Maria Gotsch, and capitalized by leaders of global business and finance. The mission is to mobilize investor resources in order to create a more diversified local economy. PFNYC  has established a network of leading experts from the investment and corporate spheres, in order to provide assistance in identifying and supporting New York City’s most promising entrepreneurs, in both the for-profit and not-for-profit sectors.