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National Security Software On Wall Street: Cognitio’s Roger Hockenberry Comments

Technology that has been used to hunt terrorists is now gaining traction with Wall Street to enhance customer outcomes, make better decisions and even track down fraud.

The Wall Street Journal examined this trend in their piece titled: Spy Software Gets a Second Life on Wall Street. They reported on a wave of companies with ties to the intelligence community "winning over" the world of finance.

For us at Cognitio this comes as no surprise. The technology challenges in the national security community frequently require exceptional solutions, and many of those solutions can be leveraged in other sectors of the economy, including the finance world.

Cognitio's Roger Hockenberry provided context in this report:

“Both Wall Street and the intelligence world want the same thing: to find unknown unknowns in the data,” said Roger Hockenberry, the former chief technology officer of the Central Intelligence Agency’s clandestine services and now a partner at the consulting firm Cognitio Corp. in Washington.

“Financial firms aren’t looking for terrorists, but good customers and attempts at fraud,” he said.

Roger Hockenberry of Cognitio

The Journal also featured a widely known technology provider for national security and financial sector firms, Digital Reasoning, reporting that:

Tim Estes founded the firm that became Digital Reasoning in 2000 during his last year of college at the University of Virginia, where he studied philosophy.

Conceived as a company specializing in “machine learning,” a branch of computer science dealing with programs that can learn from data and make better predictions, Digital Reasoning struggled during its first couple of years.

The article also provides a good tip of the hat to another of our favorite organizations in the national security ecosystem, In-Q-Tel. This organization fills an important need in the community, helping a wide range of firms better understand the mission needs of government and helping government better understand what the market can provide them. And, as the article points out frequently the firms that In-Q-Tel invests in end up creating value that can serve in multiple markets.

Read more of this story on The Wall Street Journal.

Read the original blog entry...

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Bob Gourley writes on enterprise IT. He is a founder and partner at Cognitio Corp and publsher of CTOvision.com