FINTECH ARTICLES OF THE WEEK 04/10/15
This week’s fintech picks feature a new lab in London, a new tech garage in San Francisco, tips before diving headfirst into a data lake and more!
The lab will consist of 12 desks at Fintech accelerator space Level 39, which is a hub for financial technology startups. Oliver Bussmann, group chief information officer, said about the lab: “Fostering an open and collaborative environment between banks, start-ups and the investor community is essential to ensure we focus on promoting synergies between us, accelerate innovation opportunities and create real value for the industry.”
Considered one of the best-designed investment apps, Acorns has secured at least $10.5 million in additional capital. Acorns had raised a total of $9 million prior to this round.
This digital innovation lab, which FIS nicknamed “the garage,” is utilized to test ideas and demonstrate new technologies to bank clients and others. Research director at Gartner, Stessa Cohen, emphasizes the urgency to think of ideas before banks request them: “You can’t wait for banks to say ‘this is what we want.’ It’s already a step too late.”
In this article, Nick Heudecker—research director at Gartner—describes how information leaders must take necessary precautions and understand the gaps in the data lake concept.
Although only a couple companies so far are offering apps, they are still being utilized in the trading space. Check out this article to find out why companies are abandoning the old model of building widgets from scratch.