Addepar, an interactive investment analysis solution provider, teamed up with HackerRank to host a record-breaking hackathon. The eight-hour global event attracted 3,800 coders and developers to tackle eight challenges. Six of the eight challenges had exact answers and two required contestants to provide the best possible solution. Challenges included solving problems with data integration, distributed financial computations, and seamless and fast web user interfaces.
Addepar CEO Eric Poirier said in a news release:
Addepar is proud to challenge some of the world’s best coders to solve the most foundational technology problems in finance. … Our entire team shares a passion for bringing Silicon Valley innovation to this critically important market. We empower the smartest and most demanding investors to make informed, data-driven decisions at scale using technology that just works. This HackerRank contest helped us share our mission globally and connect with many gifted engineers who have what it takes to make a huge impact.
Addepar aims to innovate in an industry that is fraught with legacy processes, yet controls the entire flow of investment money around the world. The investment management industry has surpassed $120 trillion, and Addepar believes technology can grow that number and streamline the industry's operations. The top coder from the event will soon travel to Mountain View, California, to discuss opportunities and potential innovation in the industry.
From government to finance, industries across the spectrum are turning to hackers, developers, designers and technologists to solve industry problems and future-ready institutions. Some of the world's largest investment portfolios continue to run on decades-old technology. Hackathons like the Addepar/HackerRank event look to deliver solutions to some of the existing problems and difficulties such institutions have transitioning to newer technology.