Finvar Corporation is on a mission to Improve The World’s Financial Outcomes. We are doing this by creating technological products that improve productivity, decision-making, access and collaboration in finance for individuals and organizations. Finvar’s first product, Capnote, is a modern financial analysis platform that uses patented machine learning and automation technology to enhance finance and investing.
The company is the brainchild of Ikenna Ene, a former banker with over a decade of international experience across North America, Europe and Africa. During this time he helped large companies finance acquisitions, projects and operations. Ikenna holds a Masters in Finance degree from The New York University (NYU) Stern School of Business with joint accreditation from Hong Kong University of Science and Technology (HKUST) as well as a Bachelor’s degree in Engineering from University College London (UCL), where he graduated with first class honors. Over the course of his career, Ikenna observed a number of notable trends and dynamics which inspired the vision for Finvar Corp and Capnote. Some of these are highlighted below.
- The wealthiest 5% of banks and investors have unlimited budgets to spend on custom technology, data and research to enhance their performance. Some of them are even able to hire industry specialists such as doctors or engineers to provide specialist industry advice. On the other hand, the 95% in the mass market who do not have unlimited budgets are underserved by existing options, which are often expensive , outdated or unable to be customized for their purposes. As such, the majority of financial professionals and investors do not have the tools they need for optimal performance. This impacts services and downstream outcomes for clients, further perpetuating a wealth gap.
- There are significant opportunities in finance and investing for the use of automation and machine learning to improve productivity, work quality and job satisfaction. Financial professionals and investors all over the world need more help from technology to cope with time pressures, gaps in knowledge, cross border collaboration, deepening client relationships and monetizing content or expertise. Accenture estimates that automation and machine learning could generate synergies of over $140 billion for financial services in North America within 3 years. Naturally, similar benefits also apply to the rest of the world.
- With globalization, there is greater interconnectedness in finance and industry. Seemingly unconnected events in parts of the world outside of your regular line of sight can have material implications. For optimal and proactive decision-making, relevant streams of news and data ought to constantly be tracked and interpreted. It is also important to have the ability to incrementally improve and learn from risks, gains and losses. From looking at the various financial crises and slumps, it is clear that many organizations and individuals need help understanding and tracking the variety of exposures that exist within their portfolios and operations.
Capnote has been designed and developed to solve these problems and more. It is being developed sequentially in conjunction with the industry and a number of senior executives in banks, family offices, wealth management and consulting firms, who have been important to its development.