Weapon of Choice
The Challenge: How to articulate the value of real-time data mining for an industry stuck in its ways.
A 2015 Deutsche Bank report estimated the value of the global market for financial assets—stocks, bonds, and any number of securities—at nearly $294 trillion. No surprise, then, that the “finance sector spends more on technology, as a proportion of its revenues, than any other industry,” according to The Economist. “Nevertheless,” the article continued, “compared with the world of e-commerce, banking still sometimes gives the impression of a Volkswagen Beetle instead of a Formula 1 racing car.”
Silicon Valley’s Addepar Inc. is working overtime to bring the finance sector up to twenty-first-century ...