New York City is the center of Financial Technology. At least, that’s what the third annual FinTech Innovation Lab is trying to prove.
On Thursday, after months of development and mentoring by big financial institutions, six winners of the competitive program were given the chance to present their financial technology products.
From security, consumer engagement, data analytics and storage, each business showed the potential to shake up the way financial services do business.
Here’s the scoop.
1. Centripetal Networks – Cyber Security with Agility
Centripetal Networks created an advanced cyber security solution, including a network-based security appliance and other services.
The Problem: Cyber threats are getting worse and worse according to CEO Steven Rogers (pictured at right). It is estimated more than 400 million malwares have been identified, and about 90% of all hacks were used with one-time-only malware. It seems hopeless to keep up.
The Solution: Centripital’s fast filtering algorithms enable over 100 trillion effective decision rate (EDR) per second (>1000x improvement) to combat cyber attacks. “It’s the first cyber product where ability to the protect scales larger than the ability to attack.”
Becca Lipman is Senior Editor for Wall Street & Technology. She writes in-depth news articles with a focus on big data and compliance in the capital markets. She regularly meets with information technology leaders and innovators and writes about cloud computing, datacenters, ... View Full Bio