Washington Square Technologies LLC, a provider of next-generation financial data and analytics solutions, announced that Global Atlantic Financial Group Limited, a financial services company focused on the annuity, life insurance, and reinsurance markets, has selected the Washington Square Technologies' Beacon platform.
The Beacon platform offers Global Atlantic compelling capabilities for financial analytics through cutting-edge technology. The company will use Beacon as a complement to its internal capabilities for a variety of risk and investment management needs, including analytics, reporting and flexible cloud-based computing.
"Washington Square's Beacon platform gives us flexibility and power that support and enhance our asset and risk model infrastructure," said Gilles Dellaert, Global Atlantic's Chief Investment Officer.
According to Dr. Mark Higgins, CEO of Washington Square Technologies, “Beacon's quantitative and analytics architecture allows Global Atlantic to integrate their own models and run risk and scenario analysis on their complex asset, liabilities, and derivatives portfolios. Leveraging our decades of experience building front office risk management systems, Global Atlantic can write their own custom applications and reports in a controlled environment. We're thrilled that Global Atlantic has chosen our product to help them grow."
Washington Square Technologies was founded by Mark Higgins and Kirat Singh, who both worked in and extended proprietary data and analytics systems at Goldman Sachs and JPMorgan. In addition, Mr. Singh also launched a similar platform at Bank of America.
"Our goal with Washington Square Technologies and Beacon is to deliver the same kind of powerful platform to enterprises as we built first at Goldman, then at JPMorgan, and again at Bank of America," explained Kirat Singh, President and CTO of Washington Square Technologies, "but taking advantage of the new generation of secure cloud infrastructure services. We seamlessly integrate with cloud providers and offer a secure container environment, elastic grid computing, job scheduling, an IDE, reference models for financial instruments and responsive applications delivered via the browser."