Exclusive Interview with aixigo’s Head of Portfolio Management Systems

We have a great speaker lineup for FinDEVr London which will take place on June 12 & 13. As part of our FinDEVr Feature series, which highlights some of the speakers you will see on stage at the event, we recently interviewed the speaker for one of the presenting companies, aixigo. You can save 20% on your FinDEVr ticket when you register with aixigo’s promo code aixigo20LD17.

Here’s our interview with Marcus Gruendler, aixigo’s Head of Portfolio Management Systems:

51388110_marcus_grndler_jax_finance_2016
Where did you start your career and how did you gain the experience needed to run the tech side of your company?

Gruendler: I am a technical consultant and software architect at aixigo AG in Germany. Having more than 15 years of expertise in developing and managing international software projects for financial services, I’m currently actively developing high performance portfolio management software.

My focus is combining software engineering skills with the ability to bridge technical and business backgrounds. These skills are based upon the experiences from software projects in the european banking sector such as Citigroup, Commerzbank, DAB Bank, Cortal Consors and several more.

My current field of interest focuses on delivering digital wealth management software solutions at retail scale.

From a technologist’s perspective, what’s unique and game-changing about your technology?

Gruendler: With aixigo’s Digital Portfolio Management solution we offer you high performance services for complex portfolio data. So that you can not only provide high speed responses for human speech interaction but can also perform mass calculations for millions of portfolios within a few minutes. With this technology, we bring new business models (for example Wealth Management) to the retail market that have only represented a conceivable opportunity for high value clients so far.

Tell us about your favorite implementation of your solution/technology.

Gruendler: The core component of our portfolio management system is a high performance in-memory-engine. Current programming models waste performance speed due to slow memory access. Our new stream oriented computing engine optimizes data access in a way that enables the CPU to perform operations 100-200 times faster than classic algorithms can. This high performance engine allows for the provision of complex functionalities for a large set of clients, as well as allowing for such a provision in low latency scenarios (e. g. analytics, monitoring or rebalancing). It is even possible to use our services with human speech interactions (such as Amazon Alexa) or AI interactions (IBM Watson).


FinDEVr London 2017 is sponsored by TestDevLab.

FinDEVr London 2017 is partnered with Aite Group, Banking TechnologyBayPay Forum, BiometricUpdate.com, Brave New CoinBreaking Banks, Byte Academy, The Canadian Trade Commissioner ServiceCelent, Cointelegraph, Colloquy, Cooper Press, DistributedEconomic Journal, Empire Startups, Femtech Leaders, Finmaps, Fintech Finance, Global DataHarrington Starr, Holland FintechLevel39, London Tech Week, Mapa ResearchMercator Advisory Group, The Paypers, Plug and Play, SecuritySolutionsWatch.com, SME Finance Forum, StartupbootcampSwiss Finance + Technology Association, and Women Who Code.

Exclusive Interview with CASHOFF’s CEO, Dmitry Gorkov

We have a great speaker lineup for FinDEVr London which will take place on June 12 & 13. As part of our FinDEVr Feature series, which highlights some of the speakers you will see on stage at the event, we recently interviewed the CEO of one of the presenting companies, CASHOFF. You can save 20% on your FinDEVr ticket when you register with CASHOFF’s promo code CASHOFF20LD17.

Here’s our interview with Dmitry Gorkov, CASHOFF’s CEO:51388110_27953524624_b415afcb11_o


Where did you start your career and how did you gain
the experience needed to run the tech side of your company?

Gorkov: I studied at the Lomonosov Moscow State University, at the department of Mechanics and Mathematics. Studying at one of the most famous and oldest universities in Russia, under the guidance of the best professors, helped me form my personality and gave me a push of inspiration.

Of course, I didn’t start my own start up right after graduation. It took me a while to master my tech skills in practice. After graduation, I worked at a major Russian company engaged in e-banking software development, where I implemented about 50 projects, which turned out to be a success. That’s when I decided to create my own product in this sphere, which could combine all the financial data and data from receipts in order to use it in mobile banking applications.

From a technologist’s perspective, what’s unique and game-changing about your technology?

Gorkov: CASHOFF is a cloud-based service, which collects not only the transaction data from banks but also the lists of items from shop receipts in one mobile banking application. This information describes the consumer the best and opens wide opportunities for analysis of his/her buying behavior and obtaining the most relevant insights. The technology helped us to conquer the Russian market. Currently, we are observing the European market, so that our product could meet new standards of quality and become popular abroad.

Tell us about your favorite implementation of your solution/technology.

Gorkov: When we launched our PFM service in banks and they saw its value, we started to think about how to make our service more convenient for the clients. So we developed a mobile version of CASHOFF and deployed it inside the VBRR Bank (top-30) mobile application. The mobile version of the service possesses the features of the web one, but it is adapted for mobile devices. We got fivefold increase in activity at distant channel and positive feedback from the bank’s clients. Another remembered implementation was in one of the best mobile banking application in Europe – Tinkoff Bank. Now we are working in collaboration with the global Citi bank. Both projects gave us a very good experience that would help us in future developments.


FinDEVr London 2017 is sponsored by TestDevLab.

FinDEVr London 2017 is partnered with Aite Group, Banking TechnologyBayPay Forum, BiometricUpdate.com, Brave New CoinBreaking Banks, Byte Academy, The Canadian Trade Commissioner ServiceCelent, Cointelegraph, Colloquy, Cooper Press, DistributedEconomic Journal, Empire Startups, Femtech Leaders, Finmaps, Fintech Finance, Global DataHarrington Starr, Holland FintechLevel39, London Tech Week, Mapa ResearchMercator Advisory Group, The Paypers, Plug and Play, SecuritySolutionsWatch.com, SME Finance Forum, StartupbootcampSwiss Finance + Technology Association, and Women Who Code.

FinDEVr APIntelligence

Our first developers conference in the U.K. is just over a month away. If APIs and SDKs are just a few of your favorite fintech acronyms, then join us for two days of developer-focused presentations, demonstrations, and conversations at FinDEVr 2017 London, June 12 and 13. Stop by our registration page today and save your spot.

FinDEVr 2017 London is a part of London Tech Week, which runs from June 12 to June 16.

On FinDEVr.com

  • Symbiont Gains “Strong Partner in Asia” with Investment from Hundson Technologies.

Upcoming FinDEVr 2017 London alum news

  • Check Out Our Exclusive Interview with ISARA CEO, Scott Totzke.
  • Our latest FinDEVr Features Are Up. Meet Kontomatik and IdentityMind Global.

Alumni updates

  • Kontomatik earns top 50 spot in the 2017 Dutch FinTech Awards. Join Kontomatik in London for FinDEVr in June.
  • ACI Worldwide’s point-to-point encryption solution earns PCI P2PE compliance validation.
  • Thoma Bravo to Acquire Lexmark’s Kofax.
  • MapD partners with Continuum Analytics & H2O.ai, to form the GPU Open Analytics Initiative.
  • Thinking Capital to offer SMB financing options to TouchBistro POS clients.
  • Token Picks Up $18.5 Million to Help Banks Rise to Challenge of PSD2.
  • PayNearMe adds 8,000 CVS Pharmacy Stores to its network cash acceptance locations.
  • CardFlight unveils new line of mobile card readers to support secure EMV and NFC contactless payments.
  • Gartner recognizes OutSystems as a leader in enterprise high productivity application platform as a service technology.
  • Malauzai’s Vantiv Partnership to Leverage OnDot’s CardControl Tool.

Stay current on daily news from the fintech developer community! Follow FinDEVr on Twitter.

 

Symbiont Gains “Strong Partner in Asia” with Investment from Hundson Technologies

The amount of the investment was undisclosed. But blockchain startup and smart contracts specialist, Symbiont has picked up funding from China-based Hundsun Technologies. The investment in Symbiont is the first in the U.S. for the financial services software provider and the company, which is partly-owned by Alibaba founder, Jack Ma, will also add an observer to Symbiont’s board of directors. Symbiont CEO Mark Smith referred to the investment as a “clear vote of confidence for Symbiont” and called Hundsun Technologies a “strong partner in Asia.”

Symbiont’s innovation is a smart contracts platform that enables FIs to develop applications based on distributed ledger technology. Current use cases enabling the issuance, trading, and processing of corporate bonds, syndicated loans, and other low-liquidity financial instruments. Guan Xiaolan, executive president of Hundsun highlighted the company’s “superior, mature, and highly differentiated DLT stack,” as well as the technology’s high level of security. “Its smart contracts have a proven ability to automate complex business logic, such as highly tailored employee compensation waterfalls for private companies,” he added.

Pictured: Symbiont CTO and co-founder Adam Krellenstein during his presentation at FinDEVr New York 2016.

It has been almost a year since the State of Delaware partnered with Symbiont in a project called The Delaware Block Initiative designed to make it easier for state government and businesses to leverage blockchain technology. In an update published as part of the Delaware law series last month, Andrea Tinianow of the Delaware Blockchain Initiative and Caitlin Long of Symbiont noted that the “first milestone of DBI’s roadmap” – deploying distributed ledger technology at the state’s public archives – had been achieved. Underscoring the relevance of this initial effort, the two wrote: “By being the first to adopt the technology, the State will maintain its leadership in corporate registry services.”

Also this spring, Symbiont added Yale University computer science professor, Dr. Zhong Shao, to its Technical Advisory Board, and partnered with commodity services specialist, Orebits, who will use Symbiont’s smart contract technology to further develop their eponymous commodity-backed digital assets. The first digital assets, called “orebits,” were made available on Symbiont’s platform in March.

Symbiont was founded in 2015 and is headquartered in New York. Adam Krellenstein, CTO and co-founder of the company, presented “Distributed Ledgers and Smart Contracts” at FinDEVr New York 2016.

Exclusive Interview with ISARA’s CEO, Scott Totzke

We have a great speaker lineup for FinDEVr London which will take place on June 12 & 13. As part of our FinDEVr Feature series, which highlights some of the speakers you will see on stage at the event, we recently interviewed the CEO of one of the presenting companies, ISARA. You can save 20% on your FinDEVr ticket when you register with ISARA’s promo code ISARA20LD17.

51388110_scott_ceo_headshot_cropHere’s our interview with Scott Totzke, ISARA’s CEO:


Where did you start your career and how did you gain the experience needed to run the tech side of your company?

Totzke: I started my career 30 years ago in a small agricultural company. The amount of technology and sophisticated data analysis we need to make industries we think of as ‘conventional’ operate is amazing. There is a level of technical sophistication required to ensure that everything gets from the farm to your table properly. We were already dealing with mobility, real-time data updates, and big data analytics before many of these concepts became part of the technical lexicon, and to this day, that grounds my view of how technical change can directly shape the lives of so many people.

When I moved into the mobile communications and cybersecurity fields, that early experience kept me focused on how our technology needs to be impactful but not disruptive. I’ve spent the last 17 years being driven by that mandate, and it’s especially necessary when building security solutions for a wide range of implementations, whether we’re talking about sprawling IT infrastructure or constrained mobile environments. At ISARA, we’ve done our job right when we have delivered transformative cybersecurity technology that is largely transparent to the end user and extremely cost-effective for our customers.

From a technologist’s perspective, what’s unique and game-changing about your technology?

Totzke: Globally, there is a race to develop the next generation of computing and innovation platform-large-scale, ‘universal’ quantum computers. These computers will solve a variety of complex problems that are beyond the capabilities of transistor-based supercomputers. While most of the industry is focused on how quantum computers will accelerate innovation in areas where we are simply unable to focus today, ISARA is looking at the key problem of how quantum computers will be disruptive to the established standards for information security. As an industry, we have relied on RSA-based public key cryptography for 40 years, and that has become a foundation for almost every online transaction. Signing on to check your bank balance, buying something online, getting a software update for your phone – public key cryptography is ubiquitous and we all use it thousands of times a day without thinking about it. We need to preserve this same ubiquitous use of public key cryptography in a post-quantum world so that our information and our customer’s information is properly protected.

ISARA’s focus is on building that next generation of encryption and authentication technology to protect our customers from the quantum threat. So, while billions of dollars are invested in quantum information science to build the next computing platform, we are completely focused on building secure, optimized, high performance solutions that allow the world to benefit from these advancements without being exploited by them. Without quantum-safe security solutions, advancements in quantum technology may present too great a security risk for anyone to benefit from them.

Tell us about your favorite implementation of your solution/technology.

Totzke: One of the benefits of working in such a new field is that much of the work you do on a daily basis is ground-breaking. Early on, we learned that, in order to provide a smooth transition to quantum resistant cryptography for the ICT industry, we needed to solve some very complex migration problems around how we think about and manage digital identities. The first time that we were able to demonstrate a quantum safe browser prototype, a web server that was simultaneously classically safe using current state-of-the-art technology and quantum-safe using our implementation, was eye-opening.

Breakthroughs like that prototype get us closer to providing practical implementations for our customers who need large-scale migration of critical infrastructure without having to move all of their users at once. The ability to create hybrid environments, where they can upgrade servers to quantum-safe technology while supporting quantum-safe clients and legacy clients, is one of those essential building blocks that makes deployment of our solutions as efficient and cost effective as possible for our customers. We solve complex problems in such a way that our customers may not even realize how transformative the solution actually is.


FinDEVr London 2017 is sponsored by TestDevLab.

FinDEVr London 2017 is partnered with Aite Group, Banking TechnologyBayPay Forum, BiometricUpdate.com, Brave New CoinBreaking Banks, Byte Academy, The Canadian Trade Commissioner ServiceCelent, Cointelegraph, Colloquy, Cooper Press, DistributedEconomic Journal, Empire Startups, Femtech Leaders, Finmaps, Fintech Finance, Global DataHarrington Starr, Holland FintechLevel39, London Tech Week, Mapa ResearchMercator Advisory Group, The Paypers, Plug and Play, SecuritySolutionsWatch.com, SME Finance Forum, StartupbootcampSwiss Finance + Technology Association, and Women Who Code.

FinDEVr Feature — Kontomatik

See Kontomatik and the rest of the FinDEVr London speaker lineup on June 12 & 13. Register and save 20% with their promo code Kontomatik20LD17.

Interview with Piotr Włodarek, Kontomatik’s CTO:

Where did you start your career and how did you gain the experience needed to run the tech side of your company?

I started programming in 1995 and professional career around 1998, while in high school. I am a computer science graduate from Warsaw University of Technology. Before co-founding Kontomatik, I worked at European Organization for Nuclear Research (CERN, Switzerland).

From a technologist’s perspective, what’s unique and game-changing about your technology?

Multiple companies provide programmatic access to banking data (topic known as banking APIs or banking data aggregation). Kontomatik banking API is uniquely praised for reliability and speed. Reliability is achieved, among other things, by extreme analytics-driven approach to maintenance. Speed is achieved by uniquely working in a lower layer of the technology stack – pure Java – instead of relying on heavy “cows” like headless browsers.

Tell us about your favorite implementation of your solution/technology.

One of our major clients uses Kontomatik in 5 countries across 3 continents – ranging from Mexico to Russia – and is consistently over-performing competition thanks to massive volumes of clean data provided by Kontomatik.


FinDEVr London 2017 is sponsored by TestDevLab.

FinDEVr London 2017 is partnered with Aite Group, Banking TechnologyBayPay Forum, BiometricUpdate.com, Brave New CoinBreaking Banks, Byte Academy, The Canadian Trade Commissioner ServiceCelent, Cointelegraph, Colloquy, Cooper Press, DistributedEconomic Journal, Empire Startups, Femtech Leaders, Finmaps, Fintech Finance, Global DataHarrington Starr, Holland FintechLevel39, London Tech Week, Mapa ResearchMercator Advisory Group, The Paypers, Plug and Play, SecuritySolutionsWatch.com, SME Finance Forum, StartupbootcampSwiss Finance + Technology Association, and Women Who Code.

FinDEVr Feature — IdentityMind Global

See IdentityMind Global and the rest of the FinDEVr London speaker lineup on June 12 & 13. Register and save 20% with their promo code IdentityMindGlobal20LD17.

Interviews with IdentityMind Global’s Chief Marketing Officer & CTO.

Interview with Jose Caldera, Chief Marketing Officer:

Where did you start your career and how did you gain the experience needed to run the tech side of your company?

I started in a small services startup integrating network security products into financial institutions. Then went to Carnegie Mellon University for a master’s program on information networking, which is a mix between computer science and business. From there, I started to work as a consultant for assessing application and network security. Then as a security development engineer, and then moved to product management and have been doing product management and marketing since.

From a technologist’s perspective, what’s unique and game-changing about your technology?

Since the very beginning we started building digital identities to solve risk problems in the digital financial ecosystem. The notion of understanding digital identities was a game changer; the market is now understanding it. As we understand more about the use of digital identities, we are bringing innovative aspects into the analysis and exposing it through APIs to make it accessible to every one.

Tell us about your favorite implementation of your solution/technology.

We have a client that has been able to grow their customer base to millions of consumers and has been able to keep their compliance and risk team of the same size. They started with us when they were on-boarding only hundreds of customers a month. Now they are growing by tens of thousands per month, and their on-boarding is highly automatized. They have passed all regulatory compliance audit with flying colors, almost zero fraud, and still the same three people that were in their team when we started working together almost two years ago.IdentityMind Global

Interview with Kieran Sherlock, CTO:

Where did you start your career and how did you gain the experience needed to run the tech side of your company?

A 30 year series of startups, always staying long enough to learn from the hard times.

From a technologist’s perspective, what’s unique and game-changing about your technology?

The ability to embed examination of a user’s history and relationships (across our client base) into your transaction and account creation decisioning process.

Tell us about your favorite implementation of your solution/technology.

A large online retailer embedding our technology into their workflows to firstly reduce the number of transactions that require manual review, and secondly to expedite the decisioning of transactions that do require review.


FinDEVr London 2017 is sponsored by TestDevLab.

FinDEVr London 2017 is partnered with Aite Group, Banking TechnologyBayPay Forum, BiometricUpdate.com, Brave New CoinBreaking Banks, Byte Academy, The Canadian Trade Commissioner ServiceCelent, Cointelegraph, Colloquy, Cooper Press, DistributedEconomic Journal, Empire Startups, Femtech Leaders, Finmaps, Fintech Finance, Global DataHarrington Starr, Holland FintechLevel39, London Tech Week, Mapa ResearchMercator Advisory Group, The Paypers, Plug and Play, SecuritySolutionsWatch.com, SME Finance Forum, StartupbootcampSwiss Finance + Technology Association, and Women Who Code.

FinDEVr APIntelligence

FDLD17_EventLogoV1_wdate(large) (1)We saw some great stuff at FinDEVr New York earlier this year. If you missed out, check out FinDEVr London on June 12 & 13 during London Tech Week. Register today and save big time.

On FinDEVr.com

  • FinDEVr Veteran OutsideIQ Acquired by Exiger

Alumni updates

  • Plaid and Dwolla partner to provide fully-tokenized ACH payment integration.
  • Xero features its partnership with Equifax.
  • London Metal Exchange locates LMEselect Platform at Interxion’s Data Center
  • Envestnet unveils expanded data analytics portfolio for wealth management.
  • FinDEVr Alum Quovo Raises $10 Million
  • Prival Bank of Panama to deploy Temenos’ core banking solution, T24.
  • Trulioo adds new Canadian data sources to its GlobalGateway verification technology.
  • Jay Shah promoted to CEO of Personal Capital
  • Xero awarded the Best Overall Fintech Platform by the Fintech Breakthrough Awards.

Stay current on daily news from the fintech developer community! Follow FinDEVr on Twitter.

FinDEVr London @ London Tech Week

IMG_4682 2We’ve joined London Tech Week to kick off the first international FinDEVr event this June!

FinDEVr London combines finance + developers. It showcases the latest enabling technology – APIs, SDKs, cloud services and more – that developers will use to create their next innovation.

If you’re working on the tech side of financial services, you’ll find both friends and influential connections in the room on June 12 & 13. Buy your attendee ticket by this Friday save £200 with early-bird rates!

London Tech Week is a festival of events across the city, showcasing and celebrating the best of tech, making it a great partner for FinDEVr. Network, learn, and find new business opportunities! Check out the innovation, security, startup, etc. events and how to register for them here.

This Friday is the final early-bird ticket deadline before the event, so get your ticket here. And save an additional 10% with the promo code FinDEVrBlog.


FinDEVr London 2017 is sponsored by TestDevLab.

FinDEVr London 2017 is partnered with Aite Group, Banking TechnologyBayPay Forum, BiometricUpdate.com, Brave New CoinBreaking Banks, Byte Academy, The Canadian Trade Commissioner ServiceCelent, Cointelegraph, Colloquy, Cooper Press, DistributedEconomic Journal, Empire Startups, Femtech Leaders, Finmaps, Fintech Finance, Global DataHarrington Starr, Holland FintechLevel39, London Tech Week, Mapa ResearchMercator Advisory Group, The Paypers, Plug and Play, SecuritySolutionsWatch.com, SME Finance Forum, StartupbootcampSwiss Finance + Technology Association, and Women Who Code.

Photo by Erika Sanchez

FinDEVr Veteran OutsideIQ Acquired by Exiger

Originally published at Finovate.com.

The news last week that due diligence innovator OutsideIQ agreed to be acquired by compliance specialist, Exiger, is a sign that the RegTech revolution in fintech is real. OutsideIQ founder and CEO Dan Adamson said the acquisition was a “logical step in our shared view of the dominant role that cognitive computing solutions will play in compliance.” Business Insider reports that Exiger paid $22 million (C$30 million) for the Toronto, Ontario, Canada-based company.

OutsideIQ’s flagship technology DDIQ leverages automation and human analysis to detect potential regulatory risks that often go overlooked by currently-used methods. Geared toward financial institutions, investment firms, and large enterprises, the technology automatically scans publicly available information for any data on the subject and provides auditable reports on the findings. Exiger Analytics president Brandon Daniels noted that transaction alert monitoring, KYC/AML, onboarding, and counterparty/ third party risk at the enterprise level are among the challenges DDIQ will help Exiger address. “The acquisition … will augment our ability to deliver purpose-built, AI-based solutions that transform how global banks and multi-national corporations meet the evolving expectations of regulators looking for truly measurable and auditable solutions,” Daniels said.

Founded in 2010 and headquartered in Toronto, Ontario, Canada, OutsideIQ presented its technology at FinDEVr Silicon Valley 2016. In March, the company partnered with SAP Ariba, and teamed up with Genpact to provide better KYC and compliance solutions for FIs. We highlighted OutsideIQ last fall in our RegTech Reality Check. OutsideIQ first demonstrated its due diligence technology, DDIQ, to Finovate audiences at FinovateSpring 2016.

OutsideIQ is Exiger’s largest acquisition to date. Exiger was founded in 2013 to provide court-mandated oversight of HSBC, “the most comprehensive monitoring assignment ever awarded by the Department of Justice” according to the company. Additionally, Exiger serves clients worldwide through its offices in New York, Toronto, London, Hong Kong, Singapore, and Silver Spring, Maryland.