David K.A. Mordecai participated in Demo Day 2018 for FinTech Innovation Lab (FTIL) on June 21, 2018, as Scientist-in-Residence for FTIL. FinTech Innovation Lab (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 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 2018 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 (CTOs) from the 16 supporting financial firms selected the current set of eleven 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 Technologies: 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 Security: 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
David Mordecai is Lead Investigator at RiskEcon® Lab @ Courant Institute of Mathematical Sciences NYU and Co-Managing Member of Numerati® Partners.
About Numerati® Partners LLC
Numerati® Partners coordinates a data analytics and development ecosystem, with the mission of advancing and fostering the next generation of scalable data-intensive risk and liability management enterprises. The firm provides resources fundamental to advancing the development of nascent leading-edge inferential surveillance, monitoring, and predictive analytics technologies for deployment within the RiskTech domain: risk technologies associated with adaptive distributed, networked and embedded systems such as remote sensing, agent-oriented data analytics, computing and control systems. Numerati® Partners curates integrated RiskTech solutions as well as forensic and use-case applications in RiskTech sub-domains such as LitTech, RegTech, FinTech and InsurTech (litigation technology, regulation technology, financial technology and insurance technology). For more information, visit https://numeratipartnersllc.com/.
About RiskEcon® Lab for Decision Metrics @ Courant Institute of Mathematical Sciences NYU
The mission of RiskEcon® Lab @ Courant Institute of Mathematical Sciences is to enable, facilitate and coordinate academic research focusing on these patterns and trends, via 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. For more information, visit https://wp.nyu.edu/riskeconlab/.
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 — 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. For more information, visit https://www.fintechinnovationlab.com/.
About The Partnership Fund for New York City
The Partnership Fund for New York City (PFNYC) was founded by Henry R. Kravis in 1996 and capitalized by New York’s leaders of business and finance, with a mission to mobilize investors resources—their money, time and influence—to create jobs, spur new business creation and to expand opportunities for all of the city’s residents and neighborhoods. PFNYC invests exclusively in New York City-based ventures—both for-profit and non-profit—with an overall job creation priority.
As an “evergreen” fund, realized gains are continuously reinvested. Since inception, the Fund has invested in excess of $150 million. The city’s business leaders help to identify and support promising entrepreneurs, with hundreds of business leaders contributing annually on our sector advisory boards, investment evaluation teams and as judges and mentors in the programs. The Partnership Fund Board is led by Co-Chairmen, Charles R. Kaye and Tarek Sherif. Maria Gotsch, President and CEO leads team. For more information, visit https://partnershipfundnyc.org/.
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. For more information, visit https://www.accenture.com/us-en.