Articles related to fintech (financial technologies) and fintech software development.

Blockchain meetup sponsored by Empirica, Wroclaw

Monday June 19th a beautiful sunny day in IT-friendly Wroclaw, tech start-ups and cryptocurrency enthusiast gather together at IT corner Tech meetup, sponsored by Empirica.

The event was planned to focus on key areas of current trends in Blockchain and Ethereum.

The event began with Mr Wojciech Rokosz, Ardeo CEO presentation. The session was dedicated to introduction to the economics of token. Explaining the new changes and updates we are and we will face in our economy with this huge entrance of virtual currencies.

The event later carried on with Mr Marek Kotewicz on introduction to Blockchain, Bitcoin and Ethereum. The session was summarizing the differences between Bitcoin and Ethereum.

The third and last part of the event was conducted with Mr Tomek Drwga, Blockchain meetup organizer,  diving deeper into smart contracts and programming ( introduction to Solidity) for Ethereum.

The event ended with open discussion between the audience and speakers, and visitors were served with beverages.

 

Empirica presented technology for Robo-Advisors at Cloud Expo, New York

Empirica proudly presented the technology for Robo-Advisors; How to build great software behind your Fintech service at Cloud Expo 2017 in Manhattan, New York.

The event was from 6th to 8th of June 2017 at Javits Center in New York City, where panels were hosting star speakers from Silicon Valley to Wall Street. The event was focused on Fintech, Cloud Computing, Artificial Intelligence, Cognitive Computing and other hot technology fields and topics. There was a tremendous turn out to Cloud Expo 2017. The event was honored to host speakers and audiences from around the world. Global leaders in technology such as Amazon Web Services, IBM cloud, DEll EMC and financial industry giants like Accenture and Deloitte, together with successful companies and brands around the world , brought the latest trends of technology in one place.

Mr Michal Rozanski, Empirica CEO and board member of EARP Integration used his 35 minutes on stage, introducing new technologies in Robo-Advisory arena. Mr Rozanski, show cased Empirica’s newly built Robo-Advisory platform to express the importance of fine technology in automated wealth management solutions. The speech carried on with Mr Rozanski, explaining the maturity Empirica gained facing challenges during development of a modern Robo-Advisory platform from scratch. The session was concluded with Mr Rozanski give away on informing the essential factors of developing a software behind a Fintech service, and answering the ‘HOW’ for those intending to build such applications.

Moreover, visitors and audiences could meet Empirica representatives at their dedicated booth at Cloud Expo, where they could ask and discuss deeper and in details about the technology behind Fintech services as well as the technology behind Robo-Advisory.

 

 

 

 

The biggest market maker uses Empirica Platform

It’s been two years since Empirica has successfully deployed the full version of Algorithmic Trading Platform for Dom Maklerski Banku Ochrony Środowiska (DM BOS Brokerage House). Since then DM BOS has become the most active market maker on Polish capital market, running its market making and algorithmic trading operations through Empirica’s platform.

With a great pleasure Empirica would like to inform that DM BOS was lately awarded as Polish Capital Market Leader 2016 by Warsaw Stock Exchange (WSE).

The Gala was attended by representatives of the most important capital market institutions: issuers, brokerage houses, banks, investment firms, industry organisations and associations. DM BOS was awarded in following categories:

GPW (2)

  • for the biggest share of a local market maker in trading in equities on the Main Market in 2016,
  • for the biggest share of a market maker in the volume of trade in index options in 2016 on the derivatives market,
  • for high quality of the reporting of trades to KDPW_TR in 2016.

– We are very pleased to see, that using our software DM BOS was awarded by WSE in main categories. I would like to sincerely congratulate managers of DM BOS such amazing results for the 2016. Since 2012, when we started our cooperation we are committed to continuously develop and enhance our algorithmic trading platform in order to achieve the highest technical requirements and to satisfy different and changing needs of our customer. I would like to thank DM BOS once again for the opportunity to be a part of these awards. – Michal Rozanski, CEO of Empirica

WSE is the biggest securities exchange in Central and Eastern Europe and organises trading on one of the most dynamically growing capital markets in Europe. WSE operates a regulated market of shares and derivative instruments and the alternative stock market NewConnect for growing companies. WSE is developing Catalyst, a market for issuers of corporate and municipal bonds, as well as commodity markets. Since 9 November 2010, GPW is a public company listed on Warsaw Stock Exchange.

Read more about Empirica Algorithmic Trading Platform

Empirica presented robo advisory software at FinTech Connect Live in London

Empirica took part in the biggest FinTech Event in Europe with almost 2500 attendees from 44 countries and 145 exhibitors & partners, taking place in London this December (6th & 7th). FinTech Connect Live combined a large scale expo, with 180 experts speaking in 120 dedicated conferences focusing on different FinTech subsectors, like WealthTech, InsurTech or PayTech with strategic discussion based sessions, keynote presentations, product demos and interactive workshops.

fintech-connect-live-2016Empirica proudly presented own white label solutions like an intelligent Robo-Advisory Platform, Algorithmic Trading Engine and FinTech Software Framework as well as development services among both tech giants and brand new start ups with sophisticated niche product offerings. Anyone interested in speaking with Empirica about building the bespoke FinTech solution behind own service could meet our team at the stand. We shared experiences gained for over 6 years of developing solutions for financial institutions and FinTech companies, including robo-advisors. We ran many interesting conversations about new market trends and needs, specially in wealth management space. Our Robo-Advisory Platform received huge attention from asset managers and investment companies participating in the event.

Empirica presented also company showcase demo at the showcase theater. While presenting our experiences, CEO of Empirica illustrated the most important issues of building tailored FinTech software.

fintech-connect-live-2016-sDuring the conference there were many interesting presentations and panel discussions about future trends of robo advice and advancements in the fields of InvesTech and WealthTech and other FinTech sessions like: the future of banking, blockchain rising, opportunities and risks in the data economy in FinTech, crowdfunding & P2P lending.

Thank you to all the participants who visited us at our stand or watched our showcase demo presentation! 

Empirica Team

 

See our Robo Advisor Software:
 
See our Robo Advisor Software

Empirica at FinTech Connect Live in London

Empirica takes part in the FinTech Connect Live! this December 6th & 7th in London. This is the most important event in a FinTech space, where finance meets technology. Empirica joined the Advisory Board of this annual global FinTech undertaking.

Were you can meet us?

 

On the Showcase Demo (7th Dec., 11:50 am)

Empirica will shortly present Robo-Advisory Technology for financial advisors as well as FinTech development services. We would like to invite to our presentation: Technology for Robo-Advisors – how to build great software behind your FinTech service?

While presenting our advanced Robo-Advisory Platform, CEO of Empirica will illustrate most important issues of building tailored FinTech software. We will share experiences we have gained for over 6 years of developing solutions for financial institutions and FinTech companies, including robo-advisors. We’d love to welcome all FinTech innovators interested in how properly implemented technology can move their businesses forward.

On our stand number 83

Anyone interested in speaking with Empirica about building the FinTech solution behind own service can meet our team on the stand.

– “FinTech Connect Live creates a global community of FinTech StartUps, financial institutions and investors, where we can exchange thoughts and experiences. That’s why this is a second time Empirica takes part with great interest in this event. Last year we presented our Algorithmic Trading Platform, which is the heart of our robo solution we are going to present this year. I am looking forward to speak with financial advisors who want to go robo as well as any FinTech StartUp about how to build great software behind FinTech service and quickly intruduce it to the market.” – Michał Różański, CEO of Empirica.

If you are interested in setting up an appointment with our team during the FinTech Connect Live, just let us know at: info@empirica-software.com.

 

fintech-connect-live-banner

TOP trends and challenges in wealth management

Robo-Advice is not about tomorrow anymore. It’s about today.

A robo-advisor is an online wealth management service that provides automated, algorithm-based portfolio management advice without the use of human financial planners. Robo-advisors are typically low-cost, have low account minimums, and attract younger investors who are more comfortable doing things online. The idea made sense to many, and robo-advisors quickly gained market traction. Full-service, high-value-added, person-to-person activity isn’t for everybody. There are generations of tomorrow’s investors coming through today, who are more attracted to something less person-to-person and more technologically enabled.

The rapid rise of Robo-Advisors

Robo-Advice is changing the landscape of global wealth management. Historically, investment management was the purview of the wealthy. With robo-advisors flooding the investment markets, offering low-fee, diversified professional management, the investing landscape is evolving.

The number of robo-advisors is growing rapidly. New consumer brands are emerging in the digital wealth management industry such as Betterment, Wealthfront and Personal Capital.

In its report, BI Intelligence forecasts that robo-advisors will manage around $8 trillion of total global assets under management (AUM) by 2020.

forecast-global-aum

         TOP trends and challenges in wealth management for the next years

  1. Robo-advisors disrupt the wealth management industry. In the near future, advisors that will wait for the transition to robo-advisor will lose out. Investors will migrate towards those lower-fee providers with technology platforms.
  2. We observe the strong influence of technology within the entire investing environment. Many investors trust technology and expect 24/7 access and reporting.
  3. The competition increases rapidly. New consumer brands of pure robo-advisors appear in the digital wealth management industry, while traditional financial advisors ‘go robo’ as well.
  4. New regulations are directly impacting the financial advisory industry and driving companies to offer robo services as a way to meet the requirements.
  5. Investors increase pressure to lower fees. Robo-Advisors serve a wider range of customers and allow to stay profitable in lower fees environment.
  6. Artificial Intelligence enters the robo-advisory industry and could be the strongest competitive advantage. Robo-Advisors soon will offer more diversified investment products.

See our Robo Advisor Software:

See our Robo Advisor Software

About Robo Advisors at Sibos 2016

There was an interesting panel discussion at Sibos 2016 in Geneva with Silvan Schumacher, CEO of Swanest, Michael Mellinghoff foundder of Techfluence, Paolo Sironi author of Fintech Innovation (good read, besides, I am in the middle).
Short summary of main points:
  • advantages of robo – real time information on how my portfolio is doing and what I should do next
  • what drives money to the fund – absolute performance? No Marketing and User Experience
  • what robo changes is putting users portfolios in the center that are allingned with goals of the customer, it’s not about products anymore
  • many people leave asset managers not beacouse of poor performance but because of poor service
  • greatest contributor to alpha is cost reduciton
  • there are currently over 50 robo advisors in Europe, best have 100mio AUM
  • there are 150 robo advisors in the world
  • 80% of actively managed funds do not beat the benchmark, they should not be in the market

Interestingly, no one was brave enough to give sure anwser how digital asset management would like in 2025. No suprise as things are happening so fast.

 

See our Robo Advisor Software:
 
See our Robo Advisor Software

Free version of Algorithmic Trading Platform for retail investors

We have just released beta of Empirica – Algorithmic Trading Paltform for retail investors! It’s lifetime free for development, testing and optimizing of trading algorithms.

Our development team (exactly this team who implemented the entire system) also provides full support in algorithms development as well as connectivity to brokers. If you need help just contact us.

Among many features what is unique is our exchange simulation where you can influence market conditions under which you test your algorithms. No others software offers such a realistic level of simulation.

In paid versions we offer the execution of algorithms in robust server side architecture.

Download free version of Trade Pad at www.empirica.io. We strive for your feedback!

Algorithmic Trading Software

How traditional asset managers GO ROBO. Omni-channel advice and hybrid-robos.

As the robo-advice industry grows it is attracting the attention of traditional asset management firms. These companies want to offer what their clients need — easy money management — while at the exact same time attract more funds to manage. Today they may be losing assets to the startup robo-advisor firms. Last year, Fidelity Investments, Charles Schwab Corp. and The Vanguard Group have either created their own digital services unit or partnered with an existing robo business. We are sure the other large firms will join the trend.

After the great success of robo advisors launched by Ameritrade, Vanguard or Charles Schwab the main question for traditional financial advisors is not ‘if to invest’ in new robo-technology but ‘how to bridge the gap’.

robo-advisors-chart

Traditional financial advisors decide on a hybrid model

Following in the footsteps of the stand-alone digital robo-advisor is a hybrid model, combining both automated and traditional human services. The model offers a live company-employed financial advisor in combination with online automated services in areas such as asset allocation and rebalancing.

Hybrid Robos = Combining Human and Automated Wealth Advice

The report by My Private Banking Research projects a robust future for the hybrid model of the robo-advisor. The research implies that the hybrid models will grow to $3.7 trillion assets world-wide by 2020 and $16.3 trillion by 2025, 10% of all investable worldwide assets.

robo_advisor_digitalization2

The main expectation for robo-advisors is to utilize more human-like interfaces and features, and for human advisors to adopt more robo-advisor-like features.

See our Robo-Advisor Software:

See our Robo Advisor Software

Who is moving FinTech forward in continental Europe? Thoughts after FinTech Forum on Tour.

By Michal Rozanski, CEO at Empirica.

In the very centre of Canary Wharf, London’s financial district, in a brand new EY building, a very interesting FinTech conference took place – FinTech Forum on Tour. The invitation-only conference targeted the most interesting startups from the investment area (InvestTech) from mainland Europe. The event had representative stakeholders from the entire financial ecosystem. As Efi Pylarinou noted – the regulator, the incumbents, the insurgents, and investors, were all represented.

 

Empirica was invited to present its flagship product – Algorithmic Trading Platform, which is a tool professional investors use for building, testing and executing of algorithmic strategies. However, it was amazing to see what is happening in other areas of the investment industry. There were a lot of interesting presentations of companies transforming the FinTech industry in the areas of asset and wealth management, social trading and analytics.

 

The conference was opened with a keynote speech by Anna Wallace from FCA. Anna talked about the mission of FCA’s Innovation Hub; that is to promote innovation and competition in the financial technology field and to ensure that rules and regulations are respected. Whilst listening to Anna it became clear to me what the real advantage of London holds in the race to become the global FinTech capital – London has Wall Street, Silicon Valley and the Government in one place – and what’s most important, they cooperate trying to push things forward in one direction.

 

FinTech Forum on Tour

 

Robo-advisory

A short look at the companies presenting themselves at the event leads to the conclusion that the hottest sector of FinTech right now is robo-advisory. It’s so hot, that one of the panellists noted it’s getting harder and harder to differentiate for robo-advisory startups. On FinTech on Tour this sector was represented by AdviseOnly from Italy, In2experience,  Niiio, Vaamo and Fincite – all from Germany. Ralf Heim from Fincite presented an interesting toolkit ‘algo as a service’ and white label robo-advisory solutions. Marko Modsching from niiio revealed the motivation of retail customers, that “they do not want to be rich, they do not want to be poor”. Scalable Capital stressed the role of risk management in its offering of robo advisory services.

 

Social analysis/Sentiment/ Big Data

The social or sentiment analysis area, keeps growing and gains traction. Every day there’s more data and more trust in the results of backtesting as that data builds up over the years. The social media space is gaining ground. Investment funds as well as FinTech startups are finding new ways to use sentiment data for trading. And, it’s inseparably related with the analysis of huge amounts of data, so technically the systems behind it? are not trivial.

Anders Bally gave an interesting presentation about how to deal with sentiment data and showed  how his company Sentifi is identifying and ranking financial market influencers in social channels, and what they discuss.

Sentitrade showed its sentiment engine for opinion mining that is using proprietary sentiment indicator and trend reversal signals. Sentitrade is concentrated on German-speaking markets.

 

Asset management

From the area of asset management an interesting pitch was given by Cashboard, offering alternative asset classes and preparing now for a  huge TV marketing campaign . StockPluse showed how to combine information derived from social networks and base investment decisions on the overall sentiment. United Signals allows for social investing by making it possible to trade by copying transactions of chosen trading gurus with a proven track record, all in an automated way. And, finally BondIT, an Israeli company, presented tools for fixed income portfolio construction, optimization and rebalancing with use of algorithms.

 

Bitcoin and Blockchain

An interesting remark was given   by one of the panelist: ‘we have nearly scratched the surface for what blockchain technology can be applied to in financial industry’. Looking at the latest news reports that are saying that big financial institutions are heavily investing in blockchain startups and their own research in this field, there is definitely something in it.

A company from this sector of FinTech – Crypto Facilities, represented by its CEO Timo Schaefer, showed  the functionalities of its bitcoin derivatives trading platform.

 

Other fields

Hervé Bonazzi, CEO of Scaled Risk, presented its technologically advanced Big Data platform for financial institutions for risk management, compliance, analytics and fraud detection. Using Hadoop under the hood and low latency processing. Ambitious as it sounds.

Analysis of financial data for company  valuations, Valutico presented a tool that’s using big data, AI and swarm intelligence. Dorothee Fuhrmann from Prophis Technologies (UK) presented a generic tool for financial institutions to derive value and insights from data, interestingly describing indirect exposures and a hidden transmission mechanism.

Stephen Dubois showed  what Xignite (US) has to offer to financial institutions and other FinTech startups in the area of real-time and historical data that is stored in the cloud and accessible by proprietary API.

 Qumram, in an energetic presentation delivered by Mathias Wegmueller, described technology for recording online sessions on web, mobile and social channels, allowing for the analysis of user behaviour and strengthening internal security policy.

 

Conclusion

London is the place to be for FinTech startups. No city in Europe gives such possibilities. Tax deductions for investors. Direct help from the UK regulator FCA. Great choice of incubators and bootcamps for startups. No place gives such a kick. Maybe Silicon Valley is the best place for finding investor for a startup, maybe the Wall Street is the centre of the financial world, but London is the place that combines both the tech and the finance. It has a real chance of becoming the FinTech capital of the world.

 

About organizators

The people responsible for creating both a great and professional atmosphere at the event were Samarth Shekhar and Michael Mellinghoff. Michael was a great mentor of mine who transformed my pitch from a long and quite boring list of functionalities of our product to something that was bearable for the audience. Michael let me thank you once more for the time and energy you have devoted to Empirica’s pitch!

 

And because the FinTech scene in our region is not well organized yet, I sincerely advise all FinTech startups from Central and Eastern Europe to attend cyclic events of FinTech Forum in Frankfurt organized by Techfluence professionals!

 
Read about our Lessons learned from FinTech software projects.

 

 

FinTech Companies