Big data provider to unveil new product during conference
Doylestown, Pa. (September 10, 2014) – Powerlytics, the big data provider of financial insights and analytics into the 154 million households and 30 million businesses that comprise the American economy, today announces that the company has been selected to demonstrate its latest product – a powerful data-driven decision support tool for banks – at FinovateFall on September 24 in New York City.
At FinovateFall, Powerlytics will showcase this new tool to some of the most influential members of the financial community. The Powerlytics proprietary big data analytics platform analyzes financial information from publicly available U.S. government sources and reconstructs it into easily understood financial statements and research that provides banks and financial services providers with comprehensive, granular and accurate insight into the financial performance of any industry down to the NAICS 6 level. Several banks and accounting firms are already using Powerlytics’ data to manage risk, discover potential markets, benchmark performance and enhance target marketing. The new product promises to help those lending institutions identify opportunities and isolate risks as they pursue new avenues of business.
“FinovateFall represents a tremendous opportunity for Powerlytics to not only introduce a powerful new product, but to demonstrate the power of our entire portfolio of benchmarking, risk management and lending and data products, which help users with business decisions and enhances marketing opportunities,” said Kevin Sheetz, CEO and co-founder of Powerlytics.
Unlike survey-based data, which is often subjective, inaccurate and inconsistent, Powerlytics is the first and only market intelligence platform to access the entire universe of U.S. business and consumer financial data and transform it into actionable insights. Powerlytics’ data is complete and objective because it draws from government filings and publicly available databases that track actual consumer income and spending, as well as business sales and profitability, down to the line item of household and business financial statements.
“This is intelligence that has never been available before. It is now, thanks to our proprietary algorithms and a big data analytics platform that can ingest huge amounts of publicly available government data, find unique and unreported connections and surface them in a way that is easy to understand by risk managers, commercial lenders, chief marketing officers, investors and others who are desperate for real-world insights and intelligence. With the unparalleled insight and analytics that Powerlytics provides, businesses are able to answer critical questions more accurately, leading to smarter decisions,” Sheetz explained.
FinovateFall is an exclusive two-day conference that selects companies to showcase and demonstrate the newest and most exciting financial and banking technological innovations. This year’s conference will take place on September 23 and 24 at the New York Hilton Midtown.
“In selecting Powerlytics as a demonstrator at this year’s FinovateFall, we are eager to learn more about the new technology that’s being developed and how it can help improve the accuracy of everything from credit decisions to target marketing,” said Eric Mattson, CEO of Finovate. “Big data has quickly become a hot trend in technology, especially in financial services, and thus we’re very excited to showcase the innovative analysis platform of Powerlytics,” he continued.
Powerlytics provides the most comprehensive, accurate and granular consumer and business financial data available in the U.S. Our proprietary big data analytics platform analyzes anonymized financial information from publicly available U.S. government sources and reconstructs it into easily understood financial statements that provide a comprehensive financial view of the 154 million households and 30 million businesses that comprise the American economy. Major U.S. corporations and financial services providers are using Powerlytics’ data to manage risk, discover potential markets, drive corporate strategy, benchmark performance and enhance both business and consumer target marketing. Visit www.powerlytics.com for more information.
FinovateFall is a demo-based conference for innovative startups and established companies in the fields of banking and financial technology. Held in New York, the event offers an insight-packed glimpse of the future of money via a fast-paced, intimate and unique format. FinovateFall is organized by The Finovate Group. For more information on the event or to view videos of previous demos, please visit www.finovate.com.