Neo Technology raised $20 million in its latest financing round to further develop its Neo4J graph database. Fueled by an explosion of interest in big data, graph databases are seeing strong growth, with an increasing number of financial services firms tapping the technology for issues like fraud detection, entitlement management and IT infrastructure management.
Asian bankers are most likely to further invest in technology they are already happy with, whereas banks in EMEA and Asia-Pacific tend not to invest in technology when they are already satisfied....
LearnVest, the online financial planning and advisory service sometimes referred to as part of a new class of robo-advisors, is anticipating strong growth in 2015 through a combination of partnerships with employers seeking to provide financial planning services for workers, and efforts to increase awareness, its CEO says.
A former BlackRock quantitative portfolio manager will head a start-up quantitative hedge fund based out of Hong Kong. The new fund, to be called Zentific Investment Management, will use computer models to seek trading opportunities in 13 Asian markets.
American Express is assembling experts in big data, cybersecurity and mobile technologies at a new hub unveiled in Palo Alto, Calif., late last week. CTO Nik Sathe, who formerly worked on mobile...
Vanguard is seeing strong adoption of a pilot program that offers automated financial advice, with assets more than quintupling in the first three quarters of the year. The automated platforms, known as robo-advisers, have seen strong growth this year, with financial companies like Fidelity and Charles Schwab announcing similar services and independent robo-advisor companies achieving solid expansion.
A new Royal Bank of Scotland unit will use social intelligence software vendor Artesian to analyze the exchanges between relationship managers and their customers. The technology will be used for RBS' new Williams and Glyn bank, expected to launch in 2015.
UBS has selected big data analytics vendor Sqreem from a pool of tech companies vying for a chance to help the firm enhance user experiences for wealth management clients. Sqreem says it uses "massive parallel computing" and graphics processing units to analyze big data orders of magnitude faster than other database management systems.
In an effort to help advisors digitize their practices, Fidelity Institutional is partnering with LearnVest, a financial planning company known for its highly automated investing and financial goal-setting applications.
In a newly announced partnership, CME Group will introduce new futures for hedging risk on short-term collateralized loans and other nearly risk-free interest rate exposures, based on indices created by BNY Mellon. BNY will provide daily U.S. tri-party repo indices that reflect overnight interest rates on tri-party repo transactions collateralized by U.S. Treasuries, agency mortgage-backed securities and U.S. agency debt.