Funds for Financial Specialist DemystData

DemystData - which helps financial institutions tap into consumers' social media and other online data - has secured an undisclosed amount of Series A investment, which it will use to expand its team of engineers and data scientists to support global demand for its service.

Founded in 2010 and with bases in New York and Hong Kong, DemystData offers a product for real-time analysis of both consumer and small business profiles, combining analysis of individuals' online footprints with historical transaction data.

The Series A funding comes from Accion and Arbor Partners. DemystData founder and CEO Mark Hookey (pictured) says the money will bolster his firm's ability to develop new products for access to deeper customer profiles.

'Large banks and lenders have an increasing need to know more about their customers, yet they are too often constrained by the limitations of credit bureau data and complicated IT integration processes. DemystData uses big data and emerging technologies to solve this growing problem,' Hookey adds.

Web site: www.demystdata.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.