Works with financial services leaders to develop next-generation big data analytics capabilities
NASHVILLE, Tenn. July 23, 2012 – Digital Reasoning has completed a successful engagement with the FinTech Innovation Lab, an annual program run by the New York City Investment Fund, the economic development arm of the nonprofit Partnership for New York City, and Accenture. Through this program, Digital Reasoning has had the opportunity to work with leading financial services firms to extend and apply Synthesys, our unique platform for making sense of unstructured data at scale, and tailor it to the specific use cases within the financial services industry.
Digital Reasoning and five other companies were selected from more than 70 applicants for the twelve-week program, which provides selected companies an opportunity to refine and beta test their cutting-edge financial technology products. In addition to having access to exchanges, clearing and settlement agencies, data providers and regulatory bodies, the FinTech Innovation Lab provides the selected entrepreneurs access to and feedback from potential customers and funders.
“FinTech has provided an unparalleled opportunity to engage directly with key business and technology stakeholders at the premier financial institutions in the world. Our meetings have led to direct collaboration that, without the program, would have been unthinkable”, said Tim Estes, CEO and Founder of Digital Reasoning. ”These collaborations are helping us to focus our technology to automate the understanding of big data and deliver insights previously unattainable. “
“Digital Reasoning was a great addition to the FinTech program this year and we are excited that they are planning to establish a permanent presence in New York City in the near future,” said Maria Gotsch, President and CEO of the New York City Investment Fund. “The program, now in its second year, successfully helps tech startups expand into new markets while giving them critical information and feedback that will let their businesses grow and thrive.”
The FinTech Innovation Lab is one of many efforts to help New York maintain its status as the world financial capital, in this case by investment in the next generation of financial technology companies. A number of great projects have been launched in this program and even more, that had their impetus here, will follow in the coming months.
About the FinTech Sponsors
The New York City Investment Fund (www.nycif.org) is the vision of Henry R. Kravis, founding partner of Kohlberg Kravis Roberts & Co., who serves as its Founding Chairman. The Investment Fund has raised over $110 million to mobilize the city’s world financial and business leaders to help build a stronger and more diversified local economy. It has built a network of top experts from the investment and corporate communities who help identify and support New York City’s most promising entrepreneurs in both the for-profit and not-for-profit sectors. The Fund is governed by a Board of Directors co-chaired by Russell L. Carson, General Partner of Welsh, Carson, Anderson & Stowe; and Richard M. Cashin, Managing Partner of One Equity Partners.
The Investment Fund is an affiliate of the Partnership for New York City (www.pfnyc.org), an organization of the leaders of New York City’s top corporate, investment, and entrepreneurial firms. They work in partnership with city and state government officials, labor groups, and the nonprofit sector to promote the interest of the city and its neighborhoods. The Partnership carries out research, policy formulation, and issue advocacy at the city, state, and federal levels, leveraging the resources and expertise of its CEO and Corporate partners. Partnership companies account for nearly 7 million American jobs and contribute over $740 billion to the national GDP.
Accenture is a global management consulting, technology services and outsourcing company, with approximately 204,000 people serving clients in more than 120 countries. Combining unparalleled experience, comprehensive capabilities across all industries and business functions, and extensive research on the world’s most successful companies, Accenture collaborates with clients to help them become high-performance businesses and governments. Through its Skills to Succeed corporate citizenship focus, Accenture is committed to equipping 250,000 people around the world by 2015 with the skills to get a job or build a business. The company generated net revenues of US$21.6 billion for the fiscal year ended Aug. 31, 2010. Its home page is www.accenture.com.