Accenture and FinTech Showcase Tech for Wall Street

July 20, 2012

Big Data spread about the New York stage, but the spotlight was on companies that provide data solutions at the FinTech’s Innovation Demo Day. Those in attendance got a first class viewing of the Wall Street supported entrepreneurs who are at the top of the technology class in the financial industry’s innovation and investment solutions.

The FinTech lab is like the annual innovation talent show where the chosen few strut their technology. However, according to Equities article “Banks and Venture Capital Firms Focus on the Digital Frontier at New York’s 2012 FinTech Innovation Lab Demo Day” the companies participate in mentorship programs for 12 weeks with the world’s leading executives beforehand.

We learned:

The six entrepreneurs demonstrated their solutions to dozens of financial industry, venture capital and technology executives, following a 12-week mentorship program with executives from the world’s leading banks and venture firms. The Lab was created by the New York City Investment Fund, the economic development arm of the Partnership for New York City, and Accenture (NYSE: ACN) to help sustain and grow New York City’s role as the global leader in financial services and to support job creation in its technology sector. This year’s Demo Day was held at the Credit Suisse headquarters in Manhattan.

The news story highlighted Digital Reasoning:

Digital Reasoning develops and markets solutions that provide ‘automated understanding’ for big data. Their vision is that software should be able to ‘read’ and understand text as humans do, in context. This vision is realized in the flagship solution Synthesys, an application-ready platform for making sense of unstructured data at scale. Digital Reasoning currently serves a number of US Government agencies and is applying its technology in the Financial Services sector to protect banks and their customers.

Will New York become the next hot spot for technology in the US? Accenture embraces this concept.

Jennifer Shockley, July 20, 2012

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Stephen E. Arnold monitors search, content processing, text mining and related topics from his high-tech nerve center in rural Kentucky. He tries to winnow the goose feathers from the giblets. He works with colleagues worldwide to make this Web log useful to those who want to go "beyond search". Contact him at sa [at] arnoldit.com. His Web site with additional information about search is arnoldit.com.