New York, NY – Julia Computing was selected by Chartis Research as a RiskTech Rising Star for 2018.
The RiskTech100® Rankings are acknowledged globally as the most comprehensive and independent study of the world’s major players in risk and compliance technology. Based on nine months of detailed analysis by Chartis Research, the RiskTech100® Rankings assess the market effectiveness and performance of firms in this rapidly evolving space.
Rob Stubbs, Chartis Research Head of Research, explains, “We interviewed thousands of risk technology buyers, vendors, consultants and systems integrators to identify the leading RiskTech firms for 2018. We know that risk analysis, risk management and regulatory requirements are increasingly complex and require solutions that demand speed, performance and ease of use. Julia Computing has been developing next-generation solutions to meet many of these requirements.”
For example, Aviva, Britain’s second-largest insurer, selected Julia to achieve compliance with the European Union’s new Solvency II requirements. According to Tim Thornham, Aviva’s Director of Financial Modeling Solutions, “Solvency II compliant models in Julia are 1,000x faster than our legacy system, use 93% fewer lines of code and took 1/10 the time to implement.” Furthermore, the server cluster size required to run Aviva’s risk model simulations fell 95% from 100 servers to 5 servers, and simpler code not only saves programming, testing and execution time and reduces mistakes, but also increases code transparency and readability for regulators, updates, maintenance, analysis and error checking.
Julia Computing CEO Viral Shah (center) accepts RiskTech100 2018 Rising Star Award from Chartis Research Head of Research Rob Stubbs (left) and Neuberger Berman Senior Portfolio Manager Steve Eisman (right)
About Julia and Julia Computing
Julia is the fastest high performance open source computing language for data, analytics, algorithmic trading, machine learning, artificial intelligence, and many other domains. Julia solves the two language problem by combining the ease of use of Python and R with the speed of C++. Julia provides parallel computing capabilities out of the box and unlimited scalability with minimal effort. For example, Julia has run at petascale on 650,000 cores with 1.3 million threads to analyze over 56 terabytes of data using Cori, the world’s sixth-largest supercomputer. With more than 1.2 million downloads and +161% annual growth, Julia is one of the top programming languages developed on GitHub. Julia adoption is growing rapidly in finance, insurance, machine learning, energy, robotics, genomics, aerospace, medicine and many other fields.
Julia Computing was founded in 2015 by all the creators of Julia to develop products and provide professional services to businesses and researchers using Julia. Julia Computing offers the following products:
JuliaPro for data science professionals and researchers to install and run Julia with more than one hundred carefully curated popular Julia packages on a laptop or desktop computer.
JuliaRun for deploying Julia at scale on dozens, hundreds or thousands of nodes in the public or private cloud, including AWS and Microsoft Azure.
JuliaFin for financial modeling, algorithmic trading and risk analysis including Bloomberg and Excel integration, Miletus for designing and executing trading strategies and advanced time-series analytics.
JuliaDB for in-database in-memory analytics and advanced time-series analysis.
JuliaBox for students or new Julia users to experience Julia in a Jupyter notebook right from a Web browser with no download or installation required.
Julia users, partners and employers hiring Julia programmers in 2017 include Amazon, Apple, BlackRock, Capital One, Citibank, Comcast, Disney, Facebook, Ford, Google, IBM, Intel, KPMG, Microsoft, NASA, Oracle, PwC, Uber, and many more.
About Chartis Research
Chartis Research is the leading provider of research and analysis on the global market for risk technology. It is part of Infopro Digital, which owns market-leading brands such as Risk and WatersTechnology. Chartis’ goal is to support enterprises as they drive business performance through improved risk management, corporate governance and compliance, and to help clients make informed technology and business decisions by providing in-depth analysis and actionable advice on virtually all aspects of risk technology.