Thomson Reuters, the source of trusted answers for businesses and professionals, announced IBSFINtech India, Signzy Technologies, Tataatsu Idealabs and Teligenz Tech Solutions as the winners of its first ever South Asia FinTech Innovation Challenge. The solutions from the four winning start-ups will go through mentorship and practical guidance from Thomson Reuters, before they are on boarded on to the EIKON App Studio.
As the financial industry increasingly turns to open technology standards to drive innovation in a complex business landscape, App Studio on Eikon provides an open platform where professionals can access specialized apps and streamline workflow needs to improve productivity. App Studio allows third parties to blend Thomson Reuters leading news, market data and analytical tools with proprietary research and other third-party data to create apps for their own use or for release to the wider industry – all within Eikon itself.
FinTech Innovation Challenge was launched in September 2016 with an aim to identify and collaborate with innovative technology start-ups, to create a rich and inclusive ecosystem that supports data driven businesses in the financial services industry.
Speaking about the success of 2016 Fintech Innovation Challenge in India, Mr. Pradeep Lankapalli, Managing Director, South Asia, Thomson Reuters, said, “This marks our first significant step in engaging with the financial technology startups in South Asia and we are overwhelmed by the response from this dynamic community. It is particularly stimulating to see how startups are re-imagining the industry with innovative solutions. Our deep industry expertise with innovative solutions can enhance the value we deliver to our customers.”
As a part of the challenge, Thomson Reuters received more than 50 applications from start-ups with solutions for the financial services community across asset classes, risk management, RoBo advisory based investment platforms among others. Brief profiles of winning solutions are below:
1. IBSFINtech India’s solution specializes in niche and innovative end-to-end solution for corporate treasury with exclusive modules for currency, commodity, money market and trade finance.
2. Signzy Technologies proposition specializes in API based KYC solution largely focused towards the financial sector. The solution allows faster on-boarding of customers, based on automated background checks & validations by connecting with various government data providers.
3. Tataatsu Idealabs proposed a SaaS based solution to digest and present news in a semantically enriched and contextually relevant fashion.
4. Teligenz Tech Solutions offered enhanced Trading Capability with pre & post trade analysis and Thematic Portfolio Management. The solution is integrated with Thomson Reuters Feeds and Omnesys OMS Solution.