MatLogica is a B2B fintech that designed a toolkit for developers that speeds up financial analytics by 6-100x and saves 50%+ on cloud costs
Current Status
MatLogica has several customers in Investment Banking (Customer LTV £3M+), and a solid pipeline of leads in finance, including vendors of Risk Management solutions.
Our customers see 50% and more reduction in cloud costs, and 20x faster calculations.
MatLogica partners with Intel and AWS.
We received 4 'Category Leader' awards from Chartis in 2023: Innovation; AAD; Data Parallel Programming; Innovation in Computational Frameworks and ranked #10 out of 50 in the QuantTech rating.
Other awards include: Best Optimisation Task Software Solution 2023 (SME News)
Problem or Opportunity
Banks typically rely on 10 to 20-year-old quantitative libraries to perform intraday pricing and compute risk measures. The cost is significant: a bank might spend £20M on hardware/cloud for these calculations p.a., and the software support costs escalate annually. The CTO faces a hard choice between further increasing compute resources and accumulating technical debt, or embarking on a multi-million multi-year project to re-engineer the legacy solution.
Solution (product or service)
MatLogica designed a toolkit for developers that acts as an abstraction layer between analytics and hardware delivering 6-100x speed-ups for complex repetitive calculations, automatic computation of risks using Algorithmic Adjoint Differentiation, and simplification of software development. It saves ~50% of cloud costs, and enables consistent methodology for computing risks.
The toolkit can be semi-automatically integrated into existing quant libraries, or used to efficiently develop future-proof new quantitative solutions.
Business model
At the moment our business model is enterprise-level sales based on an annual license (up to £600P.A.).
We are rolling out an individual user license with a monthly subscription of £800.
We are also working with major cloud providers to develop a "MatLogica Inference Hub" where clients would pay a premium on the cloud resource they use to achieve higher productivity and reduce costs.
