#3DFintech ‘3D FinTech Challenge 2013’ Announces Finalists
20th September 2013
Level39, Canary Wharf Group’s accelerator initiative, has today announced the six finalists chosen to participate in the 3D FinTech Challenge 2013, an accelerator programme focused on technology innovation in the financial services industry. The programme organised in partnership with Dassault Systèmes, the 3DEXPERIENCE Company with an enviable track record in innovation, will commence on 23rd September for 6 weeks until 1st November at Level39.
The 3D FinTech Challenge 2013 is designed to identify, nurture and accelerate entrepreneurial companies focused on innovative products and solutions which enable true ‘single views’ of client data and allow organisations to gain better insight into making identity, risk and exposure decisions.
The winner will be awarded a cash prize of £15,000 and invited to participate in Dassault Systèmes’ 3DEXPERIENCE Customer Forum in Las Vegas in November 2013, where they will showcase their product to over 200 major global corporations.
The six finalists – chosen from over six countries via a panel of executives from leading London-based financial services organisations are Conatix, Kusiri, ACE Consensus, Logical Glue, LBM & Intrepid.
They will be offered on-going mentoring from Dassault Systèmes’ senior executives and members of London’s financial services community, to help shape the products and technologies being developed. Additional master classes will be provided by senior professionals, covering topics like UX & interface design, intellectual property rights and licensing agreements.
The finalists will also become full members of the Level39 community of entrepreneurs, start-ups and high growth companies. Membership will enables access to leading corporations, investors, mentors and network events in one of the world’s premier business and shopping districts with more than 240 cafes, bars, shops and restaurants. Finalists will also have the opportunity to take office space at Level39 at preferential rates on conclusion of the programme.
Eric Van Der Kleij, Head of Level39, Canary Wharf Group plc said: “The challenge theme has been steered by our discussions with the financial services community, who more than ever need a complete “single view of client” to address regulatory and operational challenges. By supporting startups and entrepreneurs, this accelerator programme will source and develop solutions that will drive client engagement, increase transparency in decision making, and help financial services organisations meet new regulatory challenges.”
Kevin Pleiter, Vice President of Financial and Business Services, Dassault Systèmes said, “We are excited to partner with Level39 and the financial services community to bring our culture of innovation to the heart of London’s dynamic, international financial services sector. Over the duration of the programme, we will bring our innovation heritage that has helped transform many highly regulated, complex industries.”
Claire Cockerton, Head of Innovation Programmes, Level39, Canary Wharf Group plc said: “We are very excited by the reach and interest that this programme has received from the entrepreneurial community, and were very pleased to receive applications from over 6 different countries across Europe. By including ongoing input and feedback from members of London’s vibrant financial services community throughout the programme, the 3D FinTech Challenge will deliver solutions that have direct relevance towards addressing the challenges that financial institutions currently face.”
THE SIX TEAMS
ACE Consensus : developed a digital platform that enables sell-side analysts to provide the transparency necessary for consumers of that data – such as investors – to extract maximum value from the information that is internally consistent and comparable. This platform can be used by investor relations teams, investment managers or other data consumers to monitor consensus forecasts for large firms.
Conatix : Berlin & Washington DC based team, is building an end-to-end system for business, client or investment research, and incorporating proprietary technical innovations in key fields including machine learning and data mining. They will incorporate GraphInsight data visualisation tools to jointly monitor, extract, summarise and visualise real-time research – streamlining research and production of new knowledge in an easy-to-use team-based workflow and interface, shielded by enterprise-grade privacy and security.
Intrepid : London-based Intrepid will develop an analytical and visual tool allowing users to organise their client base, using an interactive, fully customisable dashboard; the second solution component will visualise the outcome of big data analysis, allowing users to rapidly absorb large amounts of information and extract business insights.
Kusiri : London-based team will enhance their existing enterprise solution for client forensic research and investigation, streamlining external data searches whilst retaining the security of client information held behind firewalls in a single workbench functionality that allows Compliance officers to carry out fully auditable searches and background checks as part of AML and KYC procedures.
LBM : This team has a developed an off-the-shelf technology solution, Decision Genius, that utilises artificial intelligence technology to develop new insights into client data, such as finding patterns, to help predict next best actions. Their chosen technology does not require programming expertise and will allow non-technical users, such as marketers, to use natural language queries to interrogate client data, and thereby deliver new insights in a visual output.
Logical Glue : The team provides custom computational intelligence models (based on patented technologies) such as Fuzzy Logic that outperform traditional statistical regression models. They will create reason-based output in a way that enables financial services institutions to understand the reasoning behind a specific output, in an easily consumed format for institutions, regulators and customers.