28 Jun Symetrics wins BNP Paribas International Hackathon 2016 in London
Symetrics, a Netherlands-based risk technology fintech won the London edition of second International Hackathon organised by BNP Paribas as per the press release. The theme for 2016 Hackathon was ‘Streamlining the Customer Journey through co-creation with start-ups.’ BNP Paribas organised the second edition from 17 June to 19 June in eight different cities - San Francisco, London, Paris, Brussels, Rome, Berlin, Warsaw and Istanbul. The Hackathon simultaneously took place in 8 cities. This year more countries were involved as compared to the first edition which was hosted by 5 countries.
After 3 long intense days, an eight member jury comprising of international fintech experts and banking executives selected Symetrics as the winner of the Hackathon in London. Symterics was tasked to help BNP Paribas in providing its customers a consolidated view of their portfolio, and simulate investment scenarios to make optimal portfolio decisions.
Symetrics responded to the task with their ‘The BetterTogether’ app, which in a few easy steps provides asset managers, portfolio managers and private bankers with a smart digital toolbox to construct, stress test and optimize clients investment portfolios under macro economic scenarios. The app is about truly connecting the advisor and the customer to enable customers to assess their own risk in a scenario-based investment approach. The app was programmed with Wolfram Language software.
The Symetrics team will now move on to a Digital Bootcamp where they will be able to take their prototype to a next level with the support of experts and mentors from BNP Paribas. After the four-month development period, the team will fly to Paris for Demo Day and will pitch the enhanced solution along with the winning teams from other cities. The winners at the Demo Day will be given a letter of intent from executive of BNP Paribas and start a new adventure in partnership with BNP Paribas.
Martijn van Eck, Managing Partner commented: ‘I am very proud that the team delivered an outstanding job to build the winning solution. We very much look forward to work with the BNP Paribas team in London. In addition, we now have the unique opportunity to potentially have our technology validated by the largest bank in Continental Europe’.
Symetrics is a financial risk technology company and is at the forefront of developing the next generation econometric models. They have built SyMath software which is a next generation risk analytics platform to build macro-economic scenarios to conduct market and credit risk analytics. Symetrics has offices in The Netherlands (Apeldoorn, Breukelen) and the UK (London).
