Data Simply Becomes First FinTech Sandbox Alumnus to Return as a Data Partner
Will make unstructured data hidden in SEC filings available via API
BOSTON, MA AND PALO ALTO, CA (PRWEB) DECEMBER 15, 2016
FinTech Sandbox announced today that Data Simply will join leading firms – including Moody’s Analytics, Thomson Reuters, and Yodlee – in providing data to innovative startups selected by the Boston-based nonprofit organization. For entrepreneurs in financial services, accessing data can be prohibitively expensive and complicated. FinTech Sandbox facilitates innovation by making data available to select FinTech startups for free at the point when access is most impactful. Sandbox residents, in return, are expected to collaborate with each other, sharing learnings and advancements that benefit the global FinTech ecosystem. Participants pay no fees and no equity is taken.
Data Simply, an early participant in the FinTech Sandbox program, is the first alumnus to become a FinTech Sandbox Data Partner. The company uses their own machine intelligence engine to mine insights from unstructured text, and turn those into financial signals. Sandbox residents will have access to the latest material disclosures and updates from company SEC filings interpreted like an analyst via Data Simply’s Syrah API. Data Simply’s product adds meta data representing the critical underlying meaning of the text in the document; labels this meta data as inherently good, bad, or neutral but important; and measures the frequency of this meta data to see trends and patterns in the data. Data Simply’s product is also available as an online application.
Michelle Bonat, Co-Founder and CEO of Data Simply, said, “We are so pleased to give back to FinTech Sandbox as a Data Partner. We reaped substantial benefit from our six months as a Sandbox resident, building out and refining our product utilizing the datasets offered through the program. We are proud to contribute to this innovate community driving financial services forward.” Jean Donnelly, Executive Director of FinTech Sandbox, said, “We are excited to welcome Data Simply as our newest Data Partner. They are the first alumnus of the program to join as a data provider. Data Simply is an important example of accelerated growth through participation in our program; we are gratified by their dedication to giving back to our FinTech community. We look forward to partnering with our other residents in the future.”
FinTech Sandbox offers data from 29 data partners, infrastructure from three partners, and collaborates with 11 accelerator programs. Over 55 startups from around the world have been accepted as residents in the 18 months since FinTech Sandbox launched. In addition to Data Simply, other Alumni include AlphaPack, Kensho, Quantopian, and Cognism.
About Data Simply
Data Simply uses machine intelligence to see insights from data and solve the hardest business problems, starting with financial services. We give you an information advantage with our intelligence engine that analyzes large volumes of words, interprets them like an analyst, and turns them into signals. We're best known for using our own technology to mine the words in company SEC filings, turning those into actionable financial signals. It lets you easily get beyond the numbers. Now analysts see what to focus on, bankers know their clients faster, and asset managers can be proactive. More broadly, our technology can be used to analyze words in other places particularly for risk management, compliance, and related outcomes. To learn more (and try the free version) visit http://datasimply.com and https://twitter.com/datasimply
About FinTech Sandbox
FinTech Sandbox is a Boston-based nonprofit that promotes financial technology innovation globally by providing free access to critical data and resources to FinTech entrepreneurs and startups. Sponsors include Fidelity Investments, F-Prime Capital, Thomson Reuters, Silicon Valley Bank, Amazon Web Services, Intel, SIX Financial Information, Goodwin Procter, .406 Ventures, and State Street. For more information, please visit http://www.FinTechSandbox.org and https://twitter.com/FinTechSandbox
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