Temenos, the leading provider of banking software, has been guiding over 2000 financial institutions in 145 countries towards their digital future, for more than two decades. The regional Innovation Jams conducted by Temenos annually are aimed to identify the best FinTech firms that would provide the most business value to their banking clients.
vPhrase emerged as the winner of the Temenos Hong Kong Innovation Jam and will now compete with winners of Innovation Jams held in Miami, Luxembourg, Dublin, Geneva, Abu Dhabi, London and Amsterdam, for a place in the global final to be held at The Temenos Community Forum (TCF) in Dublin in May 2018.
The Innovation Jam in Hong Kong started off with a discussion on accelerating innovation in financial services. It witnessed some of the finest FinTechs from across APAC showcasing their solutions to industry experts and leaders of top financial institutions. vPhrase’s Artificial Intelligence-based platform Phrazor was received well by the audience and the company garnered 36% votes, followed by Innovation Navigator (19%), Exate Technology (15%), Mindbridge AI (10%), Wealth Initiative (8%), Verrency (5%), Know Your Customer (4%) and Signatys (4%).
Phrazor generates comprehensible narratives along with statistical summary, given structured data as input. It makes data analysis and interpretation easier, helping one make well-informed decisions faster. During Phrazor’s demonstration in Hong Kong, a challenge was put up wherein the audience stood a chance to win free beer if they could decipher Apple’s quarterly earnings report within one minute. Nobody could. Phrazor stepped in and not only correctly analyzed the complete report but also presented the result in a way the audience could quickly grasp – all this in less than five seconds. The nifty business intelligence platform left the audience impressed and the common sentiment echoed was that it is an innovative solution that solves a problem almost every industry leader faces.
On winning the public vote at the Hong Kong Innovation Jam, vPhrase Founder and CEO, Neerav Parekh, said: “It is heartening to be voted the best product by an audience which consists of senior leaders from leading enterprises. Professionals have to look at a lot of reports daily and a product like Phrazor, which helps enterprises make their reports easier to understand by communicating the key insights in a few bullet points, feels like a god-sent for them. We already have the largest enterprises in India using Phrazor and are now looking at expanding into other countries in Asia. Participating in this event and then winning it has definitely helped us build awareness for our brand in Hong Kong and beyond.”
Congratulations to the vPhrase team!