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Scotiabank Digital Banking Lab

Market IQ


Capital Markets & Trading | Toronto, ON | Founded: 2012 | Employees: 30 | www.themarketiq.com

PHONE: (800) 604-0647 | LINKEDIN PROFILECRUNCHBASE PROFILE | FACEBOOK PROFILE | TWITTER

Last updated December 17, 2018 | To download a PDF version, click here

Company Overview

Market IQ is a patented predictive analytics platform that offers actionable information to help businesses make better informed, data-driven decisions. The company’s natural language processing framework and artificial intelligence platform that offers real-time data culled from social and structured data to cater specifically to financial institutions. Fortune 1000 companies use Market IQ’s predictive insights to identify crises situations and proactively minimize reputational damage. Buy-side professionals use Market IQ’s insights to augment their overall investment decision making process and identify alpha-generating ideas. Founded in December 2012 and is based in Toronto, Ontario.

Senior Management

Shahjahan Warrich: Co-Founder (2012 – Present). Shahjahan has a strong track record of 10 years of achievement in the software industry, specializing in data science, systems architecture, natural language processing and artificial intelligence. Prior to Market IQ, Shahjahan worked at the Centre for Intelligent Machines at McGill University as a Technical Associate, at Research in Motion as an Embedded Systems Developer and a Software Developer for the McGill Cosmology Lab. Education: Bachelor of Engineering - Electrical Engineering – McGill University (2011).

Fahad Kamr: Co-Founder (2012 – Present). Prior to founding Market IQ, Fahad began his career at Kingsdale Capital. He then served as an associate at Silver Oak for three years until 2007. After Silver Oak, he worked as an economist at Vulcan and as a Strategist at Razorfish. Education: Bachelor of science, Computer Science and Economics – Western University (2002); CFA.

History

Market IQ was founded in December 2012 by Shahjahan Warrich and Fahad Hamr to solve various pain points that banks experience with reaching consumers. Originally headquartered in Toronto, the company has offices now in New York, London and Toronto to serve the global banking community.

Funding

Market IQ has had one round of seed funding that was backed by 3 investors: Techstars, Barclays Accelerator and Chris Adelsbach. This funding was raised on June 1st 2014.[1] 

[1] https://www.crunchbase.com/organization/market-iq#section-overview

 

Business Highlights

Strategy

Market IQ targets three kinds of customers:

  • Retail Banking – Market IQ targets retail banking operations by combining AI with Big data to uncover additional consumer sales such as cross selling opportunities within existing product portfolios. Additionally, Market IQ discovers cost saving opportunities for banks using their big data analytics platform.
  • Investment Banking – Market IQ’s analytics platform shines in the investment banking function. Credit risk, market analytics and trend analysis play larges role in Investment banking, all which Market IQ’s current functions perform flawlessly at a fast pace.
  • Capital Markets – Market IQ makes sense of the web’s ever growing real-time unstructured dataset to surface actionable signals based on consumer and investor perception to help augment the investment decision making process.


Products/Pricing

Customized solutions – Utilizing one of the three strategies, Market IQ is well positioned to offer innovative solutions that clients can gain a competitive advantage with. Projects usually run for several months in which two months are the consultation phase and the later months are the implementation and continuous improvement phases.

Technology

Market IQ leverages AI and Big Data with their robust platform to gain insights. These technologies are not new, but their novel implementation differentiates Market IQ in the Financial consultancy market.

Distribution/Logistics

Market IQ’s main office is located at New York: 43 W 23rd St 2nd floor, New York, NY 10010 and serves as their HQ.

Marketing

Market IQ relies on traditional word of mouth advertising for their attrition of new clients. This practice has been around for many years in the consultancy profession and fits well with the products and services they offer.

 

Competitors

Many Consultant firms offer similar services and provide solutions to financial institutions:

  1. Boston Consulting Group – (Boston, MA) The Boston Consulting Group, Inc. (BCG) is an American multinational management consulting firm with 90 offices in 50 countries. The firm advises clients in the private, public, and not-for-profit sectors around the world, including more than two-thirds of the Fortune 500, and is one of the 'Big Three' strategy consulting firms.
  2. Bain and Company – (Boston, MA) Bain & Company is a global management consultancy headquartered in Boston, Massachusetts. It is one of the 'Big Three' management consultancies (MBB). The firm provides advice to public, private, and non-profit organizations.
  3. Mckinsey and Company – (Boston, MA) McKinsey & Company is an American worldwide management consulting firm. It conducts qualitative and quantitative analysis to evaluate management decisions across public and private sectors.

 

Corporate Profile Created By: Andrew Hancock, Ivey HBA Candidate 2019