We’re thrilled to be recognised by Red Herring. And we’re excited about the way our technology enables transactions that could not happen before. - CEO Michael Thiemann
San Diego, CA (PRWEB UK) 31 May 2012
Zebit, the first Big Data platform that provides a simple way for companies to do business with people with low access to credit announced today that it has been honoured as one of Red Herring’s Top 100 Tech Startups. Global Analytics Holdings, the developers of Zebit, accepted the award which celebrates North America’s leading innovators in technology.
“We’re thrilled to be recognised by Red Herring,” said CEO Michael Thiemann. “And we’re excited about the way our technology enables transactions that could not happen before.”
The company recently announced a $25 million round of venture funding aimed at global expansion of its Zebit platform-as-a-service product.
“With Zebit, online retailers or lenders who want to enter emerging markets have a way to serve people with low access to credit in a fair, responsible, and profitable way," Thiemann continues. “The Zebit platform identifies the most responsible people and offers them more favorable borrowing terms, so the consumer can participate in all the benefits of discounted e-commerce while companies gain access to a very large segment of customers they could not previously serve.”
How does Zebit do this? Using Adaptive Data Fusion, an analytical method typically used in complex scientific applications, Zebit combines large streams of data from multiple sources and transforms them into actionable decisions. By doing this, Zebit has achieved the holy grail of risk management: underwriting on a per-transaction basis. Because each customer transaction is inherently different due of variations in product, timing and other details, per-transaction underwriting is by far the most accurate, shortening the time to profitability by up to 75%.
“Choosing the companies with the strongest potential was by no means a small feat,” said Alex Vieux, publisher and CEO of Red Herring. “After rigorous contemplation and discussion, we narrowed our list down from hundreds of candidates from across North America to the Top 100 Winners. We believe Zebit embodies the vision, drive and innovation that define a successful entrepreneurial venture. Zebit should be proud of its accomplishment, as the competition was very strong.”
Red Herring’s editorial staff evaluated the companies on both quantitative and qualitative criteria, such as financial performance, technology innovation, management quality, strategy, and market penetration.
Zebit, a brand of Global Analytics Holdings (http://www.global-analytics.com), is the first end-to-end big data platform-as-a-service provider in the financial sector. Zebit was launched in 2011 as a scalable platform for responsible financial transactions, with a proven micro-lending initial launch market in the UK.