Jeff Curie, PresidentIn the context of financial organizations like asset managers and banks, continuous monitoring of market participants that impact the business is a necessity. The objective is to efficiently predict risks and opportunities, which can be done only if the right information is available in a timely manner. To achieve this, the organizations mainly rely on the internet. However, with the web expanding daily with new information, most searches return more noise than actionable intelligence. Moreover, manually searching for hundreds of possible companies and situations, is labor-intensive and the results are spotty. To counter these challenges, Bitvore, an Irvine, CA-based company offers an AI-enabled intelligence gathering and distribution platform that stays ever-vigilant in terms of proactively collecting relevant business data from the internet and transforming it into clean, organized information that can be applied for better business outcomes. “The platform has been trained with over 100 million pieces of business information to recognize what is relevant and separates it from the noise,” remarks Jeff Curie, President, Bitvore.
Offered as a cloud-based subscription, users can easily login through a web browser and load up all the companies they need to watch. No IT or programming is required. The result is a compiled briefing, delivered at the start of a working day, providing updated information on the required companies or invested assets. “The report is summarized as per the needs of business executives and is personalized to their specific business and responsibilities,” says Curie. The alerts are sent through email and typically consist of snippets of information while providing the user capability of going to the original source to read full details. A typical alert covering dozens of companies summarizes 25-40 events on an average day, but occasionally the number of events reported can also be zero. “The precision of our system is trusted to the extent that such rare occurrences of zero reports is considered to be a sign of nothing prominent has happened in the market, and the company can continue on course for one more day,” adds Curie.
The platform is trained with 100 million pieces of business information to recognize what is relevant and escalate it over exploding noise on the web
The platform identifies information from events like mergers, executive departures, law suits, partnerships or contract wins. In other words, any information that may affect the balance sheet of the company in terms of adding revenue, or signs of stability that needs to be investigated. The information compiled consists not only of recent events but also compiles historical occurrences. This end-to-end intelligence serves as an early indicator of available opportunities and potential risks. “Designed for easy consumption, the platform provides a 360 degree perspective of nearly any market or portfolio quickly,” adds Curie.
Bitvore has evolved from their initial customer base in the municipal bond market to publicly traded and private companies. Now, Bitvore is eager to introduce the platform into the world of sales. The current atmosphere of the sales world in finance involves growing accounts in private wealth management and business loans by enhancing CRM systems like Salesforce. The integration of Salesforce and Bitvore will not only facilitate workflow automation but will also create opportunity discovery system for the salespeople. A lot of companies desire to track their customers in an attempt to increase their revenue and build closer relations. Reaching out to customers for the sole reason of selling can be perceived as intrusive, but with updated information in their hands, they have a clear reason to contact their customers to offer specific and timely help. Going forward, Bitvore is committed to offering augmented intelligence that assists business leaders in making an informed decision regarding the future course of their company.