Big data provider officially launches new data-driven decision support tool for banks
Doylestown, Pa. (September 24, 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 unveiled Lending Workbench – a powerful new decision support tool to help banks improve both the growth and profitability of their loan portfolio. Lending Workbench was introduced today at a demonstration held by Powerlytics at FinovateFall – an exclusive conference that selects companies to display the newest financial and banking technological innovations.
Lending Workbench is a series of dashboards that assist banks through the entire lending lifecycle, from portfolio strategy to lending decisions and ongoing credit and portfolio management. Because Lending Workbench includes data on the entire population, it offers a complete and accurate overview of the financial profile of an industry, or of a specific geography. With the ability to provide the financial performance of an industry at the NAICS 6 level in a specific county, Lending Workbench can improve banks’ lending and risk management decisions. Lending Workbench is also a valuable marketing tool with its ability to identify the number of businesses, market size, average revenue and debt level of industry sectors within a targeted area. This data can be further filtered by scoring the risk, growth and profitability of any combination of a business’ size, industry and location to identify attractive, risk- adjusted marketing opportunities.
Lending Workbench is the latest in Powerlytics’ line of market intelligence platform solutions. The company has a portfolio of benchmarking, risk management, market analysis and lending and data products that utilize anonymized financial information from publicly available U.S. government sources and reconstruct it into easily understood financial statements.
“Some of the world’s largest financial institutions and professional service companies have already discovered the power and accuracy of Powerlytics’ products. We are excited to unveil Lending Workbench, as we know it will improve a bank’s ability to more profitably grow its loan portfolio, as well as make ongoing evaluations of its portfolio to assure optimal performance,” says Kevin Sheetz, CEO and co-founder of Powerlytics.
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.