Capco Connect, our global networking group for fintechs, relaunched on Thursday 31st May with Capco London’s basement transforming into a bustling marketplace and showroom for some of the best and brightest in finance today.
The evening kicked off with Capco Connect lead Shabnum Gulati and sponsor Jibran Ahmed explaining the network’s mission: to connect the best fintechs with the world’s most prestigious banks through partnering with Capco.
Our basement, or ‘fintech bazaar’, had stalls from Duco, Trifacta, Quantexa, Figment Productions, Truelayer and Envizage. Each fintech had ten minutes to exhibit their product and answer any questions our consultants had, before carrying on to the next stall – each offering a pitstop of tasty refreshments and raffle tickets to win a sleek Google Home Mini.
Data, data, data was the theme of the first three stalls, with Duco, Trifacta and Quantexa all offering ways to tame and scrutinize unruly data. For Duco, this is through reconciliations, migrations and regulatory verifications, all in the cloud.
Trifacta meanwhile, are crack data wranglers. Data scientists often find that most of their time is spent investigating, cleaning and preparing data to be fed into algorithms. Trifacta automates and simplifies this process, allowing data transformations to be performed quickly and with minimal technical knowledge. Trifacta later said of the marketplace, “Events like this provide good exposure and increased access to our tools and allow the democratization of data science.”
Quantexa allow networks to be built out of data, showing linkages and resolving entities with great use cases for financial crime, fraud detection and customer views. Recognizing that most AML programs in banking yield high amounts of false positives, Quantexa’s technology enables clients to perform batch and real time entity resolution on billions of records to enable data-driven decision making.
It wasn’t all just a data scientist’s dream, however. Figment Productions brought virtual reality (VR) to Capco with four stations, two VR and two augmented reality (AR). We took an immersive jaunt into space, blasted some targets in a shooting range and went on a tour of London, all while sitting in our Shoreditch office. While VR may seem like a far-fetched technology for financial services, Figment challenged our audience to find applications of VR technology to finance. Figment said, “It was very good to see the amazed faces of people trying this for the first time and hear proposals for use cases. Events like this are a good testing ground for our tech and an excellent way to get consultants to spread the word!”
Our last two stalls were Truelayer and Envizage. Truelayer are open banking gurus: allowing fully authorized, easy access to banking APIs for fintechs. Their demo showing the level of access and control was impressive, with a unified view of a customer’s different accounts. Envizage shows the true potential of machine learning. With a predictive model of future financial conditions, their product allows users to make plans and evaluate personal financial goals. Want to retire by 50? Envizage’s application can take into account your goals and produce a number of different scenarios to give the you a probability of your goals being achieved.
Upon catching up with the six fintechs after the event, all declared that Capco Connect’s first meetup of the year was a huge success. We can’t wait until the next one.
Is your fintech interested in getting involved in our next Capco Connect event? If so, we would love to hear from you. Please send enquiries to Shabnum Gulati.