Money20/20: Oracle & NVIDIA Partners Drive Fintech Surge
The convergence of Oracle's cloud infrastructure and NVIDIA's accelerated computing platform is enabling a new wave of financial innovation, with startups leveraging both platforms to deliver unprecedented processing power and AI capabilities.
This technological marriage has become particularly crucial as financial institutions grapple with exponentially growing data volumes and increasingly complex regulatory requirements.
SQream exemplifies this symbiotic relationship through its 14-year partnership with NVIDIA, which has evolved to embrace Oracle's AI-centric cloud environment.
“Using SQream on NVIDIA is like having the HOV lane open up with no one on it – you just zoom right past,” explains Deborah Leff, SVP Data Science & ML at SQream.
This acceleration in data processing capabilities is optimised on Oracle's cloud platform (OCI), which Deborah describes as “the most efficient, effective way to break through bottlenecks and create tremendous value from structured data”.
SQream has leveraged NVIDIA and Oracle’s capabilities to pioneer an innovative approach to address critical market needs in financial services.
This includes improving the accuracy of fraud detection systems to better protect organisations’ customers and merchants, removing latency related to processing month-end closes (which improves business insights for executives), and enhancing customer service by providing dramatically faster time to relevant insights.
Securing Financial Data in the AI Era
The collaborative approach extends to compliance and security solutions, where Securiti harnesses NVIDIA NIM™ while operating within Oracle's secure infrastructure.
Jack Berkowitz, Chief Data Officer at Securiti, describes how its platform integrates “over 450 connectors to different systems” while ensuring data protection and proper permissions – a crucial capability for financial institutions processing sensitive information.
This infrastructure partnership has proven particularly valuable for companies like Hummingbird, which serves both innovative fintechs and established financial institutions.
“Having partnerships like this makes it easier for a startup like us to bridge the gap and support some of the most complex companies in the world,” notes Matthew Van Buskirk, Co-founder and CEO of Hummingbird, highlighting how Oracle and NVIDIA's combined capabilities enable them to meet clients' diverse operational requirements.
Hummingbird positions itself as an AI enablement company, addressing a critical challenge in the financial sector: the lack of well-labelled, clean training data. By addressing this issue, Hummingbird helps organisations best position themselves to enhance their AML financing investigations.
“Using SQream on Nvidia is like having the HOV lane open up with no one on it – you just zoom right past”
Scaling Innovation Through Strategic Partnerships
The scale of these partnerships' impact extends beyond individual use cases, creating a multiplicative effect across the financial services ecosystem.
Reality Defender, for instance, leverages the combined power of Oracle's cloud and NVIDIA's AI capabilities to combat financial fraud, a critical concern as AI-powered threats evolve rapidly.
Ben Colman, Co-Founder and CEO of Reality Defender, emphasises the urgency of their work. “AI is accelerating so quickly, much faster than regulations can keep up with them,” says Colman. “While we're very optimistic and pro-AI acceleration, the regulations still have some time to catch up.”
This sentiment is echoed by Ntropy, whose transaction processing platform demonstrates the scalability potential of these partnerships.
“Today we process about a hundred million transactions weekly,” says Naré Vardanyan, Co-founder and CEO of Ntropy. “That's less than half a percent of everything in the United States only. We want to get that to at least 10% in the next three to four years.”
Ntropy’s platform supports SMEs by increasing their access to capital, which is often available but not efficiently dispersed. By partnering with Oracle and NVIDIA, Ntropy can minise manual friction to accessing these funds.
Naré concludes: “We are very fortunate to partner with Oracle and NVIDIA. They've been super hands-on, and it was massive support—we signed a bunch of customers and partners just in the last few days.”
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