He was a freelance consultant from 2001 to 2008 before deciding to set up the software company TreasuryView with his twin brother Margo. They had just begun coding, when the global meltdown happened. “These were really tough years, because the product was about interest rate and debt management aimed at customers in banks and the public sector. Suddenly customers disappeared, so our market shrank rapidly. Meanwhile, the Interest rate had shrunk to 0% – so who needs a risk solution?” Luckily, their public sector clients stuck with them and they emerged stronger.
Benefiting from Karp’s past experiences and professional network, the new venture emformX is seizing the opportunities in the financial services industry arising from the fast-moving forces of digitalization and cloud services. EmformX offers an application programming interface (API) product and provides a platform that helps to simplify otherwise time-consuming financial and transaction data analysis: “We make dumb data smart,” he says, “and deliver automated content to our customers that makes sense.”
Karp is more convinced than ever that Germany – and Frankfurt in particular – offers the right base for innovation and growth: “It has the best business environment and legal infrastructure to support a business looking to see what is possible.”