Araneum and Squirro win DXC Technology’s first European fintech competition


The American multinational company launched its first fintech competition with the aim to launch joint solutions with later stage startups and scale-ups. Among the four winners were the two Swiss companies Araneum Technologies and Squirro.


DXC Technology’s first fintech Invitational in North & Central Europe was launched in June 2019. The DXC Invitational is a competition for late stage startups and scale-ups that started with the insurance industry and is now expanding into financial services. The first fintech Invitational is part of DXC’s broader strategy to expand its partner ecosystem of innovative fintech partners and collaborate to bring new value propositions to its clients. In collaboration with Silicon Valley-based startup accelerator Plug-and-Play, DXC reviewed more than 45 candidates. Now, the four winners of the fintech competition were announced. Among them were two Swiss companies: Araneum Technologies – The Zurich-based startup processes, enriches and transforms raw transaction data from the financial industry and runs a proprietary trading system based on machine learning and artificial intelligence. Squirro – Its augmented intelligence platform and data insight solutions provide companies with insights from their structured and unstructured data. Among Squirro’s customers are Wells Fargo, Investec and Swiss Re. The winners of the competition were chosen based on the relevance of their use cases for the industry as well as their added value in a joint go-to-market effort with DXC Technology. The American multinational corporation provides B2B IT services, has an annual revenue of $20 billion and counts IBM, SAP, PwC, Microsoft and Oracle among its strategic partners. (SOK)(Picture: Pixabay)