DemystData: Unlocking Financial Services through Better Use of Data and Predictive Technology
The sixth episode of VentureKast, Accion Venture Lab’s podcast series, is a conversation between host Vikas Raj and Mark Hookey, Founder and CEO of DemystData, a software analytics provider and one of Venture Lab’s earliest investments, at DemystData’s Midtown New York City office.
DemystData’s technology helps financial institutions serve more customers by demystifying the reams of data across hundreds of sources – traditional and nontraditional, internal and external, structured and unstructured – to better assess the risk of a potential client. Working with tier 1 banks, online lenders, payment lenders, telcos, and insurance companies, DemystData enhances these organizations’ ability to find and say yes to more “thin file” individual and small business clients. Its solutions also help vastly reduce manual verifications, operating costs and the potential for risk or fraud, as well as identify new top-line revenue sources.
Mark shares how his passion for leveraging data to create impact, his personal challenge of being a “thin file” Australian in the United States, as well as his previous experience working for a large information systems firm led him to found DemystData.
The seventh episode of VentureKast, due to be released in January, will feature Ken Kinyua of Kopo Kopo, which enables small merchants in Kenya to accept mobile payments and access capital based on their digital transactions.