Excerpt: While the early years were dominated by entrepreneurs with limited financial experience, more recently the [FinTech Innovation] Lab has seen companies started by industry veterans who have left big firms to develop solutions.
T-REX is a good example, [Maria Gotsch, president and CEO of the Partnership Fund for New York City] said. Benjamin Cohen had worked on Wall Street and saw how time-consuming it was to price esoteric asset-back securities, like solar energy. He developed a way to automate the process and reduce the time to value from two days to a few minutes.
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