For a technology startup to really catch the eye of banks’ top tech executives it must, first and foremost, meet a need that few others in the marketplace are meeting.
A case in point is LMRKTS LLC, a New York-based firm that aims to help banks reduce risk in their derivatives portfolios by using algorithms to spot excessive counterparty risk. The firm was showcased at a financial technology event in New York last week, and it left a lasting impression on many of the attendees.
“Though it has a relatively small customer base, LMRKTS is tackling a massive industry problem,” says David Reilly, technology infrastructure executive at Bank of America. “I think their timing is good and the solution is compelling.”View Document