CHICAGO and TRIVANDRUM, INDIA—October 19, 2016—“We are at a pivot point where humanity will change more in the next 20 years than in the previous 300 years,” said Gerd Leonhard, CEO of The Futures Agency and a noted futurist. “Understanding how to leverage technology will be critical for successful companies in the future.”
He was speaking at Envestnet India’s second annual “Architecting Intelligence” conference for software architects, bankers, and financial advisors on October 15, 2016 at the Vivanta by Taj in Trivandrum. The forum focused on the rapidly evolving technology of “Augmented Intelligence” and its influence on financial services. The conference’s business and technology tracks were designed to help bankers and software architects understand how financial institutions and technology firms can leverage augmented intelligence and data analytics to create and protect wealth for customers, strengthen their brands, and grow their businesses.
A white paper discussing conference topics in more detail is available for download at the Architecting Intelligence website (https://aiconference.envestnet.in/).
In addition, Arjun Singh, Managing Director for Asia at Envestnet | Yodlee, led a panel discussion about trends and challenges in the Asian wealth management industry, including impediments to the way forward. Blake Wood, Senior Vice President of Product Development at Envestnet, explained how Yodlee’s ongoing integration with Envestnet can empower financial advisors to deliver a holistic wealth management experience whenever, wherever, and however their clients want it.
The forum also included a 24-hour hackathon, “Hack’D 2016,” focused on corporate social responsibility. During the hackathon, which was held from October 16-17 at Envestnet Towers in Trivandrum, software engineering students from 10 Indian colleges and universities created technology tools to help foster greater financial inclusion and improve healthcare across India.
Jay Lohokare, Reshul Dani, and Ajit Rajurkar from the College of Engineering, Pune, were chosen winners for their innovative technology solution in Finance and received an award of Rs. 3 lacs. Inspired by the tech trends showcased at the Conference and deploying conversational UX, the team developed an innovative personalized credit scoring system based on alternative and more inclusive scoring mechanisms such as bill payment scores, and social media scores, going beyond the scope of traditional credit scoring models which may limit financial inclusion.
Kousik Satish, Sam Radhakrishnan, Harshavardhan, and Sujith Rengan, from the National Institute of Technology, Tiruchirappalli, were chosen as runners-up for their scalable solution in Healthcare and received an award of Rs. 1 lac. The team developed a medical recording system, which would input diagnostic data from different regions and leverage machine learning algorithms to predict outbreak of epidemics in advance, while also ensuring supply of preventive medication in the affected regions.
A Special Award of Rs. 40,000 was given away to Kiran Mohan, Akhil Ramesh, Mrinal Krishnan and Niraj Nirmal of the Mar Baselios College of Engineering and Technology, Trivandrum, for their well- researched technology solution in support of a noble cause in Healthcare. The team developed a web based application with in-built screening which would serve as a primary evaluation tool for children with Dyslexia, helping parents, teachers and related stakeholders such as schools, hospitals and social organizations identify early on and in private, the signs of Dyslexia in children, ensure appropriate intervention where required and thereby minimize the social stigma associated with the learning disorder.
“Great solutions often happen at the intersection of disciplines, and at this forum, over 210 software architects, bankers, and financial advisors came together to share ideas on Architecting Intelligence,” said Anilal Ravi, Executive Vice President and Senior Managing Director of Engineering at Envestnet India. “Students displayed conviction and enthusiasm as they participated in ‘Code For A Cause’ to develop scalable technology solutions for identified social causes.”
Envestnet’s development center in Trivandrum, India, works collaboratively with our technology centers in Silicon Valley and Seattle to develop innovative and scalable solutions that empower investment advisors to deliver excellence in wealth management.
To find out more about the developments at the Architecting Intelligence conference, follow @ENVIndia (https://twitter.com/ENVIndia) or join the conversation on LinkedIn (https://www.linkedin.com/company/envestnet-india).
Envestnet, Inc. (NYSE: ENV) is a leading provider of unified wealth management technology and services to financial enterprises and advisors. Our solutions unify and fortify the wealth management process, delivering unparalleled flexibility, accuracy, performance, and value. Envestnet enables the transformation of wealth management into a transparent, independent, objective, and fiduciary standard of care, and empowers enterprises and advisors to more fully understand their clients and deliver better outcomes.
Envestnet’s Advisor Suite enables financial advisors to better manage client outcomes and strengthen their practices. Institutional-quality research and advanced portfolio solutions are provided through Envestnet | PMC, our Portfolio Management Consultants group. Envestnet | Yodlee is a leading data aggregation and data analytics platform powering dynamic, personalized financial apps and services for millions of consumers. Envestnet | Tamarac provides leading rebalancing, reporting, and practice management software for advisors.
More than 2,000 companies, including 15 of the 20 largest U.S. banks, 38 of the 50 largest wealth management and brokerage firms, over 500 of the largest Registered Investment Advisers, and hundreds of Internet services companies, leverage Envestnet technology and services. Envestnet solutions enhance knowledge of the client, accelerate client on-boarding, improve client digital experiences, and help drive better outcomes for enterprises, advisors, and their clients.
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