50 Smartest Companies of the Year 2016

Diminish All Impediments in Financial Sectors with Pendo’s Fintech

“Our products represent a path from the chaos of the past to a better future.”

The hurdles the financial industry needs to overcome are shadowed by the lack of data transparency, however new technology tools can help banks and other financial institutions address industry issues. But keeping up with technological innovation presents a challenge by itself. Triumphant over these challenges is Pendo Systems, a financial technology company that provides software and services to the capital markets industry while embracing innovation and technology.

Pendo was founded by current
Chairman & CEO Pamela Pecs Cytron in 2007. Initially offering a state of the art investment accounting solution, Pendo pivoted its strategy in 2012 to focus on the market opportunities within the data management industry. The pivot took place as the industry was fueled by data combustion. The Pendo Data Platform (PDP) was launched in Q4 2014, and by June 2015, Pendo had secured its first customer, one of the largest global banking institutions in the world. The company is positioned as a premier provider of data exploration, discovery and analysis tools for structured and unstructured data to the financial services industry. The PDP delivers a self-serve solution for targeted, tactical data challenges in weeks, not years.

Pendo’s Data Platform: A Solution befitting customers
The company’s flagship offering is the PDP, a data management and intelligence platform providing exploration and discovery capabilities across multiple, disparate data sources. Financial institutions leverage a set of adjustable, probabilistic algorithms for classifying, searching and matching data creating a superior understanding of their data. This new found understanding is used to quickly complete incremental projects focused on “Dark Data”. The PDP delivers practical solutions to data problems in months versus years. It is normalized to run in the cloud via AWS, providing customers with an extremely light and small technology footprint. In addition, the PDP utilizes the power of probabilistic algorithms in conjunction with ever increasing machine learning capabilities. The success of the PDP has come from working and aggregating both structured and unstructured data. Reading PDFs, excel and emails to mitigate trading and counterparty risk as example.

Areas of expertise
The company’s specialties include data management, risk, data exploration, regulatory compliance, data discovery, customer analysis, data liquidity, single customer view and semantics. The PDP embraces both AI and machine learning capabilities enabling rapid matching and pattern recognition. The PDP provides for rapid data lineage; obtaining a complete historical audit and timeline of specific data movement and migration across all systems over a user-defined period of time.

Geography not a barricade to function
The company is positioned globally and geography is no barrier to make its presence felt around the world. Pendo’s headquarters is in the Northeast and is an optimal place to operate. Their other office location is Charlotte N.C. controlling the software development costs while keeping all the development in the U.S. The biggest challenge is maintaining the right balance between remaining focused on the specific value proposition of fast solutions to tactical data issues and the potential expansion opportunities for the PDP into several other areas of the data management industry.

Staying ahead of competition
The company gains a competitive advantage in the domain as it positions the PDP as a “Side Car” tool set, designed to provide a superior understanding of data, ultimately improving the performance of current production systems in place. With no disruption to their current IT infrastructure, customers leverage the PDP to accelerate solutions for difficult data problems within a variety of departments, completed in weeks and months as opposed to years.

Pendo’s vigor is derived from its customers
Pendo’s strength relies on the good Client relationships it builds. Customer satisfaction is considered as a top priority. The company goes to great lengths to ensure that clients come first. Pendo is agile and responsive and hence is capable of meeting the customer’s immediate requirements.

A major tier 1 bank is one of the biggest clients Pendo serves. The target market for the PDP consists of banks, insurance companies and investment management firms within the financial services industry.

Future mission
Pendo’s product is currently positioned to solve matters requiring attention (MRA) for its customers which are specifically focused on regulatory, legal and risk related projects for senior managers. The future is about making this critical but simple process for data discovery available to all parties through the Cloud. Self serve data discovery, analysis and exploration are in store for the future.

Pendo is creating data liquidity

Meet the Executive 

To assist in pivoting the Company in 2012, Ms. Cytron selected an industry icon, Philip Dodds with decades of data experience is executing the vision of the PDP.

Pamela Cytron, CEO – Having served for  three decades in the fintech industry in business development and operational management, Pamela  has successfully grown companies from startup to high growth in excess of $250 million. Her special expertise includes a clear vision of tracking technologies used to serve the financial services industry, and developing innovative strategies to meet the industry’s demands while keeping her focus on providing the ultimate customer experience. Pamela is committed and personally invested in understanding and focusing on trends and patterns relative to the industry’s critical issues surrounding AML, counter-party risk and Brexit. She is bringing Pendo to consistent double digit growth.

Philip Dodds, CTO – Philip has two decades of experience in the software industry, defining, architecting and building products for financial services and Fortune 500 companies. He was focused on leveraging metadata, analytics and machine learning for big data well before the rage. Philip has held senior roles in major organization in the data intelligence space embracing open source tools including ElasticSearch; Apache Spark and Tensorflow. He is now pushing the boundaries of data management with the PDP. Prior to Pendo Systems, Philip served as Managing Partner at c42, providing deep technical insight into big data technology and data services.