Simudyne, the artificial intelligence-powered simulation platform, today announced that it has entered into a strategic relationship with Barclays. The arrangement will accelerate the delivery of identified proofs of concept using Simudyne’s AI technology to simulate complex worlds and models, as a means of better managing risk.

The contract is the culmination of Simudyne’s participation on the Barclays Accelerator, powered by Techstars. Simudyne’s CEO Justin Lyon, presented the company to over 250 partners, Banks and VC Funds on Demo Day 3 May 2017. 

The Accelerator was a huge success for the company, as they also signed a client sharing partnership agreement with Microsoft, and became the only AI powered simulation platform certified to run on Cloudera, the market leading platform for machine learning and advanced analytics.

 Dr Richard Harmon, director, EMEA Financial Services, Cloudera, added “We know our clients require simulation software to model their big and complex data sets, and we are pleased to partner with Simudyne. We are introducing our customers to Simudyne’s highly valuable, robust simulation software to enhance our platform.”

Justin Lyon, CEO of Simudyne, said “Banks choose us for two reasons. First, they can run our software on their own systems so their data and models remain with them. Second, they don’t have to train people as we use technology that they are already familiar with. Our partnerships with Microsoft and Cloudera are so important to our customers because it tells them that we are secure and scalable.”

“These new partnerships take us one step closer to achieving our mission, to simulate all important decisions. We’re excited about what the future holds, and look forward to other banks and financial institutions realising the potential of our platform.”

The 90-day Accelerator programme has also supported Simudyne in building on their work with The Bank of England and Oxford’s Institute of New Economic Thinking, to simulate the likely consequences of decisions in complex markets, such as the UK housing market and the US corporate bond market.