Digital transformation just got a lot easier for financial firms

Financial companies that want to digitally transform how they work can now use artificial intelligence and machine learning to oversee and accurately measure the change.

London-based GainX has teamed up with Microsoft to offer a platform that allows executives at banks and other financial firms to monitor innovation plans, investment, research and ideas.

GainX uses AI, machine learning and behavioural analytics such as Microsoft Cortana Intelligence Suite and SQL Server to allow companies to quickly see which digital transformation projects are struggling and how much money is being wasted on them.

Founded by former technology executive Angelique Mohring in 2012 and now part of Microsoft’s London Accelerator, GainX has been working with the global technology firm since March to grow its business. With GainX’s platform now running on Azure, Microsoft cloud service, the two companies are speaking with several Fortune 500 financial services industry companies about their solution.

“Financial services leaders are frustrated by the current lack of transparency into the billions invested in innovation,” said Warwick Hill, Chief Executive in Residence and Managing Director of Microsoft Accelerator London. “GainX, enabled by Microsoft Azure, provides financial services companies with cloud-enabled intelligence, allowing them to move to a more empirical model of return on innovation investment calculation. We are incredibly excited about the potential this company offers our enterprise financial services customers.”

Everything you need to know about Microsoft Accelerator

Microsoft Accelerator, Berlin

GainX’s programs include:

  • Intellect offers real-time visibility across a company, resulting in better employee communications, quicker decisions on investments and shared accountability. GainX claims it increases employee productivity by up to 20%
  • OpenThinking Flow-AI spots talent and behavioural gaps in teams, allowing bosses to spot which areas need more staff and the skills they must have
  • Idea Campaign Management lets companies create high-performance teams
  • Corporate Analytics offers insights into a business via a 20-minute survey

“The majority of financial services innovators are struggling with visibility, digital strategy execution and employee resistance to change, which impedes agility. They need to see that their innovation spending is yielding real market impact,” said Mohring, who is also chief executive of GainX. “We are honoured to be able to draw upon Microsoft’s technology, support and resources to bring our transformative technology to financial services companies in the UK and around the globe.”

Microsoft Accelerator is a global initiative that helps entrepreneurs to grow their companies. Microsoft does not take an equity stake, and successful applicants to the programme are handed free use of office space in the capital, one-to-one mentorship and support tailored to their needs, a curriculum featuring workshops on market strategy, fundraising, finance, intellectual property law, and marketing, $500,000 of open-source-friendly Azure cloud credits, free software, and access to Microsoft’s products and potential investors.