Fintech PR

XTX Markets announces launch of new machine learning division ‘XTY Labs’ headed by Dr. Atlas Wang

Published

9 months ago

February 22, 2024

LONDON, Feb. 22, 2024 /PRNewswire/ — XTX Markets, a leading algorithmic trading company, is excited to announce the launch of XTY Labs, a new machine learning division to be headed by newly appointed Research Director, Dr. Atlas Wang.

XTY Labs is set to become a hub for elite machine learning researchers and will be home to the new ‘XTY Labs AI Residency Program’, offering researchers short-term AI residency contracts ranging from 6-12 months.

For more details on the program and AI residencies (in terms of the roles and compensation) click here.

The program is designed to provide elite researchers with the freedom, guidance and resources to create cutting-edge machine learning solutions tailored for the complexities of finance.

Award-winning, machine learning specialist Dr. Atlas Wang will lead XTY Labs. He brings a wealth of experience and extensive expertise in machine learning, optimization and AI technologies to the role.

Dr. Atlas Wang, Research Director of XTX Markets’ XTY Labs, commented:

“I am thrilled to join XTX Markets. It’s an honour to lead such a unique division where the brightest minds in AI and finance will converge to redefine the future of algorithmic trading. Our mission is to rapidly turn the latest AI breakthroughs into tangible market advantages, and I eagerly anticipate the revolutionary solutions that will emerge from this truly unique endeavour.

With a world-class team, unparalleled resources, and a culture that fosters pioneering research, the XTY Labs is poised to become the crucible of next-generation financial technologies.”

Dr. Alex Gerko, Founder and Co-CEO of XTX Markets, commented:

“We are delighted to launch XTY Labs and welcome Atlas to the team. This launch is a response to the many queries we have had from exceptional candidates, who may not be ready to take the leap into finance full time.

The program is designed to match the experience of XTX researchers as closely as possible and it’s a fantastic opportunity for some to eventually transition into the core quant team at XTX.

We look forward to supporting and nurturing the AI residents and seeing the developments from XTY Labs in the coming years.”

About XTX Markets, XTY Labs and the AI Residency Program:

XTX Markets is a leading algorithmic trading company and has over 200 employees based in London, Paris, New York, Mumbai, Yerevan and Singapore. XTX provides liquidity in the Equity, FX, Fixed Income and Commodity markets and trades over $250bn a day across markets.

XTX Markets’ expansive research cluster contains 100,000 cores and 20,000 A/V100 GPUs and is growing. We also have 390 petabytes of usable storage and 7.5 petabytes of RAM.

Alongside rich datasets and advanced technological infrastructure we are at the forefront of the crossover of finance and technology.

XTX’s corporate philanthropy focuses on STEM education and maximum impact giving (alongside an employee matching programme). Since 2017, XTX has donated over £100mn to charities and good causes, establishing it as a major donor in the UK and globally.

XTY Labs is designed to be a home for those eager to pioneer the future of algorithmic trading, with a strategic focus on developing and applying novel machine learning techniques to financial data.

The division will be situated in Hudson Yards (New York) where researchers will have the opportunity to explore new ideas and transform their advanced machine learning research into real-world financial solutions, backed by XTX Markets’ expansive research cluster containing 100,000 cores and 20,000 A/V100 GPUs and growing, alongside rich datasets, and advanced technological infrastructure.

Emphasizing practical application, the Lab’s mission is to swiftly integrate successful models into the market, directly enhancing XTX Market’s trading strategies and operations. This direct pipeline from research to implementation establishes the XTY Labs as a premier destination for those looking to make a significant impact in the financial sector through original machine learning research.

XTY Labs is seeking AI Residents with a history of significant contributions to research in elite academic settings, such as PhDs, post-docs, or professorships to join the XTY Labs AI Residency Program. Exceptional machine learning researchers looking to explore how their expertise can revolutionize the finance industry will find fertile ground for research breakthroughs at the intersection of AI and finance within the XTY Labs.

There are two pathways within the AI Resident Program, designed to accommodate professionals at varying stages of their research careers, with both Junior and Senior AI residencies, each tailored to align with the applicants’ research experience and expertise.

Top-performers from the program will have the opportunity to transition into the core quantitative team of XTX Markets in London.

About Dr. Atlas Wang:

Dr. Atlas Wang has been a tenured Associate Professor at The University of Texas at Austin and has held various industry roles, most recently appointed as the new Research Director at XTX Markets. Dr. Wang, with a distinguished academic and professional track record, brings extensive expertise in machine learning, optimization, and AI technologies.

His research focuses on efficiently training and scaling foundational models, model robustness, and generative AI, among other areas.

Dr. Wang has received numerous awards, including the IEEE AI’s 10 To Watch Award, an NSF CAREER Award, an ARO Young Investigator Award, and many other accolades from industry and professional societies.

View original content:https://www.prnewswire.co.uk/news-releases/xtx-markets-announces-launch-of-new-machine-learning-division-xty-labs-headed-by-dr-atlas-wang-302068734.html

Fintech PR

Joe Depa named as EY Global Chief Innovation Officer to lead its global innovation strategy

Published

6 hours ago

November 26, 2024

CISION (PR Newswire)

joe-depa-named-as-ey-global-chief-innovation-officer-to-lead-its-global-innovation-strategy

Depa will lead on the discovery and deployment of emerging technologies to help address business challenges and shape the future with confidence
Brings deep experience in identifying new ways that can practically help business transformation through an innovation mindset and culture shift

LONDON, Nov. 26, 2024 /PRNewswire/ — The EY organization announces today the appointment of Joe Depa as the new EY Global Chief Innovation Officer, effective immediately. Within this role, he will spearhead applied innovation to help improve service delivery and guide EY teams to address and solve business challenges.

Depa joins the EY organization at a pivotal moment, as a range of emerging technologies are reshaping businesses and industries, creating a multitude of new challenges and opportunities. To keep pace, the EY organization is continuing to make significant investments in areas such as artificial intelligence (AI), quantum computing and blockchain, and most recently formed the EY.ai Global AI Advisory Council.

In his new role, Depa will be leading the organization’s global innovation strategy. This will include overseeing efforts to successfully implement emerging technologies for tangible business applications, both internally and across work of EY member firms with clients.

Raj Sharma, EY Global Managing Partner of Growth and Innovation, says:

“At this time of constant disruption, success would require a forward-thinking approach and willingness to make bold decisions, which are at the heart of an innovative mindset. We’re thrilled to have Joe’s deep experience and knowledge around AI and data to lead on our strategic approach to innovation so that EY teams can help clients shape their future more confidently.”

Throughout the last decade, Depa has worked closely with C-suite leaders and boards to bring innovative products and services to market, improve client and employee experiences, and help enhance operational efficiencies through technology. Most recently, he served as the inaugural Chief Data and AI Officer at a leading university and health care organization. At the university, he helped to promote AI literacy, launch a responsible AI governance program and enable a secure data foundation. Prior to that, he acted as Senior Managing Director and Global Lead for Data and AI at a global multinational professional services company, where he led a team of AI strategists and data engineers in developing and implementing new products and services.

Joe Depa, EY Global Chief Innovation Officer, says:

“I’m truly excited to join an organization that is ‘All in’ on its commitment to the transformative potential of emerging technologies. I look forward to working with the EY teams and clients to help empower them to apply innovation in bold, new ways that help create value for clients through data, AI and emerging technologies to make the world a better place.”

A renowned thought leader in the field of AI, Depa has been recognized as one of the “Top 50 Global Leaders” by World Summit AI and has received Fast Company’s “World Changing Idea” award, among other accolades.

For more information, visit: ey.com.

About EY

EY is building a better working world by creating new value for clients, people, society and the planet, while building trust in capital markets.

Enabled by data, AI and advanced technology, EY teams help clients shape the future with confidence and develop answers for the most pressing issues of today and tomorrow.

EY teams work across a full spectrum of services in assurance, consulting, tax, strategy and transactions. Fueled by sector insights, a globally connected, multi-disciplinary network and diverse ecosystem partners, EY teams can provide services in more than 150 countries and territories.

All in to shape the future with confidence.

EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation are available via ey.com/privacy. EY member firms do not practice law where prohibited by local laws. For more information about our organization, please visit ey.com.

This news release has been issued by EYGM Limited, a member of the global EY organization that also does not provide any services to clients.

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View original content:https://www.prnewswire.co.uk/news-releases/joe-depa-named-as-ey-global-chief-innovation-officer-to-lead-its-global-innovation-strategy-302316944.html

Fintech

Fintech Pulse: A Daily Dive into Industry Innovations and Developments

Published

8 hours ago

November 26, 2024

Peter Tolan

fintech-pulse:-a-daily-dive-into-industry-innovations-and-developments

The financial technology sector continues to evolve at a rapid pace, offering innovations that disrupt traditional paradigms. Today’s briefing underscores fintech’s diverse growth avenues: from substantial venture capital plays and strategic partnerships to groundbreaking implementations in lending. Here’s a closer look at recent developments shaping the landscape.

Synapse’s Comeback and Andreessen Horowitz’s Strategic Bet

Source: Axios
Synapse, a financial infrastructure company previously embattled by controversy, is staging a remarkable comeback, backed by none other than venture capital heavyweight Andreessen Horowitz (a16z). With this new infusion of funds, Synapse aims to consolidate its position as a premier platform for building financial services tools.

This resurgence demonstrates the resilience of the fintech ecosystem, where innovation often prevails over turbulence. Synapse’s renewed vigor also signals that top-tier investors remain bullish on infrastructural solutions pivotal to the future of digital finance. Andreessen Horowitz’s participation not only validates Synapse’s model but also underscores the VC giant’s enduring interest in fintech infrastructure, even amid global economic uncertainties.

Analysis:
This partnership exemplifies the dynamism within fintech, highlighting the interplay of innovation, capital, and resilience. It also raises questions about the broader implications of giving second chances to firms with turbulent histories. While Synapse’s evolution could inspire others, it also places a spotlight on governance and accountability in high-growth sectors.

Israel’s Fintech Scene Gets a Boost with Investment in Finova Capital

Source: Calcalistech
Israeli fintech startup Finova Capital has raised an impressive $20 million in a funding round led by prominent institutional investors. This marks a significant milestone for the company as it seeks to expand its suite of financial solutions aimed at underserved markets.

Israel’s fintech ecosystem has long been recognized as a hub of innovation, and this latest investment only reinforces its global standing. Finova Capital’s focus on empowering smaller businesses and fostering financial inclusivity aligns with emerging trends where tech-driven solutions bridge critical gaps in financial services.

Analysis:
With this funding, Finova is poised to enhance its technological offerings while contributing to economic inclusion. However, the broader fintech industry will watch closely to see how the company leverages this capital amid increasing competition from regional and global players.

India’s Yubi Plans a Fundraising Push

Source: Bloomberg
Yubi, a prominent Indian fintech platform backed by Insight Partners, is reportedly preparing for a new fundraising round. Having already established itself as a leader in credit infrastructure, Yubi aims to bolster its offerings and expand its market footprint.

India’s fintech landscape is witnessing explosive growth, with platforms like Yubi playing a critical role in the credit ecosystem. Yubi’s planned fundraising reflects the broader appetite for scaling solutions that streamline credit access, particularly in emerging markets where traditional lending models often fall short.

Analysis:
This development highlights two key trends: the increasing reliance on credit platforms in high-growth economies and the strategic role of international investors like Insight Partners in driving fintech innovation. Yubi’s expansion plans could set a precedent for other regional fintech players seeking to scale amid global economic headwinds.

Provenir and Hastings Financial Services Win Global Recognition

Source: Business Wire
In a testament to the transformative power of digital lending solutions, Provenir and Hastings Financial Services have been jointly recognized for the Best Digital Lending Implementation at the IBSi Global Fintech Innovation Awards. This accolade underscores the success of their collaboration in modernizing the lending process through cutting-edge technology.

Provenir’s advanced decision-making platform and Hastings Financial Services’ lending expertise have delivered a solution that significantly enhances user experience, operational efficiency, and risk management. Such innovations highlight the increasing role of partnerships in advancing fintech’s digital transformation.

Analysis:
This recognition not only validates the efficacy of digital lending but also emphasizes the importance of partnerships in driving innovation. It signals to the industry that collaboration can be a powerful tool for staying ahead in a rapidly evolving marketplace.

Microf and Quantum Financial Technologies Forge New Alliances

Source: PR Newswire
Microf, a financial solutions provider, has announced a strategic partnership with Quantum Financial Technologies. This collaboration aims to expand lending solutions for contractors, providing streamlined access to capital for businesses in need of flexible financing options.

This partnership is a timely response to the growing demand for specialized financial products in niche markets. By leveraging Quantum’s technology, Microf can now offer more tailored solutions, particularly to contractors navigating complex financial requirements.

Analysis:
This development reflects a growing trend: the diversification of fintech offerings to serve specific market segments. As competition in mainstream fintech intensifies, targeting underserved niches could become a defining strategy for success.

Key Takeaways for the Fintech Ecosystem

Resilience in Fintech Funding: Despite economic uncertainties, venture capital continues to fuel innovative fintech players like Synapse and Finova Capital.
Regional Growth Stories: From Israel to India, fintech ecosystems are thriving, attracting global attention and investment.
Collaboration as a Catalyst: The success of partnerships like Provenir-Hastings and Microf-Quantum underscores the importance of strategic alliances.
The Power of Recognition: Awards like the IBSi Fintech Innovation Awards validate industry achievements, inspiring others to push the envelope.
Focus on Inclusion: Whether through credit platforms or lending solutions, fintech is playing a pivotal role in fostering financial inclusivity worldwide.

Looking Ahead: Challenges and Opportunities

The fintech sector’s journey is far from linear. Regulatory complexities, technological disruptions, and market volatility remain persistent challenges. However, as seen in today’s developments, the opportunities far outweigh the risks. By prioritizing innovation, collaboration, and inclusivity, fintech players can navigate the complexities of the global financial landscape.

This moment in fintech history is pivotal. It’s a time for bold decisions, strategic partnerships, and a commitment to bridging financial divides. As industry players rise to the occasion, the road ahead promises a future where technology and finance intertwine to empower individuals and businesses alike.

The post Fintech Pulse: A Daily Dive into Industry Innovations and Developments appeared first on News, Events, Advertising Options.

Fintech PR

BIZCLIK MEDIA LAUNCHES DECEMBER EDITION OF FINTECH MAGAZINE

Published

9 hours ago

November 26, 2024

CISION (PR Newswire)

The December edition of FinTech Magazine includes interviews with leading experts and executives from Alipay+, Marqeta & Flyfish

LONDON, Nov. 26, 2024 /PRNewswire/ — BizClik, the UK’s fastest-growing publishing company, has released the latest edition of FinTech Magazine.This publication is highly regarded by voices within the Financial Sector for its in-depth reports and interviews with prominent figures in the industry.

FinTech Magazine

This month’s edition features an exclusive lead interview with Flyfish C-Suite, Savvas Pashias, Shay Merary and Michael Zetser on how they have developed a platform for SMEs to access banking services, as traditional infrastructure struggles to meet increasing cross-border needs.

“The UniFi platform is inherently scalable, designed to growin line with a company’s expansion and service requirements” – Michael Zetser, CEO, Flyfish

The edition also contains extensive interviews with key thought leaders from Marqeta, Sidekick, PayU and more. Plus the Top 10: Decacorns

You can visit FinTech Magazine for daily news and analysis of the ever-changing financial industry.

About BizClik

BizClik is one of the fastest-growing digital media companies in the UK, host to a growing portfolio of industry-leading global brands and communities.

BizClik’s expanding portfolio includes Technology, AI, FinTech, InsurTech, Supply Chain, Procurement, Energy, Mining, Manufacturing, Healthcare, Mobile, Data Centre, Cyber, and Sustainability.

For more information, please visit our website.

View original content:https://www.prnewswire.co.uk/news-releases/bizclik-media-launches-december-edition-of-fintech-magazine-302316768.html