Newsbyte: SAP and Leading Financial Firms Tap Into Next Generation to Create Future Capital Markets Transformation
NEW YORK, June 18, 2013 /PRNewswire/ -- To help capital markets companies gain insight into the changing market and drive industry co-innovation, SAP AG (NYSE: SAP) today announced the "Designing Tomorrow's Capital Markets" contest. Supported by the SAP® University Alliances program, financial engineering university students are invited to share ideas for new technology solutions for the financial markets. The goal of the contest is to create and identify future capital markets models to help provide a connected, interactive and engaging customer experience. "Designing Tomorrow's Capital Markets" was announced at SIFMA Tech 2013, held June 18-19 in New York City.
When it comes to understanding the technologies available for handling big data, capital markets firms are struggling on two fronts: IT organizations need to manage it effectively and the business side needs to know how to use it. Regulations and legacy systems also add an extra layer of complexity. "Designing Tomorrow's Capital Markets" aims to enable students from major financial engineering schools around the U.S. to engage directly with SAP and leading financial firms to develop their ideas for business and technology innovations. The contest will address current and future industry challenges, new technologies such as in-memory and cloud computing as well as development and investment efforts. Participating faculties may include the contest as part of their curriculum. Sample submission categories include, but are not limited to, alpha generation, next-generation risk management and market and reference data, as well as social impact and impact of sentiment analytics and cloud.
To further develop their ideas, winners will participate in a design-thinking workshop, a collaborative approach to product development, with experts from participating capital markets firms and SAP to be held in New York City. The design thinking process focuses on the human side of things — how technology affects customers. Finalists will also have the opportunity to present their ideas at the SAPPHIRE® NOW conference in 2014.
SAP is inviting global acting capital markets companies across the U.S. to sponsor the contest. Actively participating capital markets firms will gain key customer insights, play a role in selecting the winning ideas and may engage directly with the successful contestants. Major capital markets research and advisory firm TABB Group has agreed to support and assist the program.
SOURCE SAP AG