Morgan Stanley and IBM Veteran Will Spearhead Financial Services Industry Initiatives
Stardog, the enterprise data and AI company, announced the appointment of Matt Lucas as Field CTO for Financial Services. Lucas, who has nearly two decades of experience leading technology implementation at public and private businesses, will be tasked with leading Stardog’s push into the financial services industry.
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Lucas joins Stardog after spending the last decade overseeing technology implementation for Morgan Stanley, where he was responsible for identifying, delivering and on-boarding new technology solutions for the Operational Risk, Finance, and Compliance departments. Prior to Morgan Stanley, Lucas spent time at IBM where he was responsible for providing financial services and insurance clients with strategic direction on risk technology solutions.
“We’re excited to have Matt join Stardog and lead our Financial Services team,” said Kendall Clark, founder and CEO of Stardog. “The financial services industry has long struggled with efficiently accessing the data needed to meet compliance, legal, fraud management, and accounting requirements. We’ve known Matt for several years and couldn’t have found a better executive to continue our push into this market.”
Lucas will lead Stardog’s key programs in the financial services industry, including an “Accelerators” initiative that will allow Stardog to stand-up solutions tailored to specific parts of the financial services industry.
“I am very excited about helping to bring Stardog’s new Large Language Modeling platform, Voicebox, to market,” said Lucas. “I see this product as a gamechanger for the financial services industry, which has always struggled with relevant and timely data access. The ease of use of Voicebox means that many non-IT users can be brought into the fold and quickly gather data that historically takes weeks or months to access.”
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The use-cases for Stardog within the financial services include:
- Legal and Compliance: As regulatory and compliance requirements proliferate, the amount of data that needs to be processed, considered and managed by compliance teams has become unmanageable. Stardog enables firms to better connect that data and relate it to key items such as improving the effectiveness of internal controls, reducing the risk of costly lawsuits, fines, and regulatory penalties.
- Fraud Management: Stardog’s technology, which connects key firm data points, allows teams to be more efficient when investigating fraud, while providing capability to reduce and prevent fraud events from occurring.
- “Know Your Customer (KYC)”: Stardog’s technology allows firms to get a better handle on their customer base by easing the process of verifying customer identities, weighing customer suitability, and reducing the risk of new customers and improving product offerings.
- Internal Audit Investigations of individuals, technologies, processes and loss events, require audit teams to sift through massive quantities of incomplete data. Stardog’s knowledge graph approach can bring that data to auditors in a more organized way and Voicebox allows auditors to effortlessly query the data to get quick and accurate answers.
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