AI

by rebecca rebecca No Comments

Member Spotlight: M Science


M Science is a groundbreaking analytics firm that provides research, data, and pioneering methodologies to financial institutions and corporations. Their experts take unstructured data in near real-time and discern critical insights that help clients make smarter, more informed business decisions. Specifically, the firm provides:

  • Data-driven research that leverages data and domain expertise to provide in-depth analysis and insights on public and private companies.
  • Direct access to experts for more in-depth research and insights.
  • Data analytics that enable investment management and corporate clients to integrate curated data into their own workflow and process.
  • Data dashboards, in a web-based, on-demand platform hosting multi-sourced data feeds that are curated and customizable to clients’ needs.

Founded in 2002, the company serves clients around the world from offices in New York, Portland, London and Hong Kong.

A cornerstone of M Science’s offering is its compliance first approach to partnerships though its comprehensive due diligence program and commitment to consumer privacy.

At the core of M Science’s mission is the belief that data can revolutionize the way the world does business. In a June 2020 Forbes column, M Science’s Michael Marrale explained, “By creating insights derived from disparate datasets and expertly synthesized by alternative data analysts, operators and investors have granular visibility into company business operations.”

The alternative data M Science provides also has revolutionized the marketplace for institutional investors. In an April 2019 Marketwatch column, Marrale said, “Alternative data provides investors with a greater degree of transparency into how companies are performing. From purchase data that tracks retail sales, to social analytics that measure online brand popularity, to geo data that measures locations and traffic, investors can now take a much deeper look into business operating fundamentals in a way our research landscape didn’t previously allow.”

M Science continues to use their insights to help businesses navigate shifts caused by COVID-19, most recently by launching a new Retail and Consumer Brands Intelligence Platform. Leveraging tested analytic models and a myriad of data inputs, the solution delivers insights to more than a dozen industries including Animals and Pet Supplies, Apparel, Garden and Home, Sporting Goods, and Toys and Games. The platform’s focus on ecommerce makes it a valuable tool for traditional retailers and brands, as well as DTC and online-only players. As noted by Head of Product Elizabeth Coleman, this information will prove “more valuable than ever” as players in the space try to address shopping behaviors changed by the pandemic.

In addition to providing a revolutionary approach to data and research, M Science is an industry leader in its commitment to diversity, equity and inclusion. Indeed, this commitment fuels an innovative mindset within the company. M Power, M Science’s diversity taskforce steers recruiting and educational initiatives to foster diverse perspectives and an environment that drives better results. M Science also is proud to collaborate with American Corporate Partners (ACP), a national non-profit organization dedicated to helping military veterans transition to the private sector through one-on-one mentoring relationships with corporate professionals.

by rebecca rebecca No Comments

FDATA North America Submits Comments to US Financial Regulators’ Request for Information on Financial Institutions’ Use of AI and ML

June 29, 2021, Washington, DC – Today, the Financial Data and Technology Association (FDATA) of North America submitted comments to the US financial regulators as part of their Request for Information (RFI) on financial institutions’ use of artificial intelligence (AI), including machine learning (ML). The Federal Reserve, Consumer Financial Protection Bureau (CFPB), Federal Deposit Insurance Corporation (NCUA), National Credit Union Administration (NCUA), and Office of the Comptroller of the Currency (OCC) sought comments on the use of AI by financial institutions and their products and services to consumers.

Throughout the submission, FDATA North America Executive Director Steve Boms discussed the importance of embracing new technologies that improve customer experience and foster innovation. Additionally, Boms noted that “as nations around the world adapt to modernized open finance regime in which the consumer and small business have the unfettered ability to access and share their financial data with companies of their choosing, financial institutions and service providers are quickly embracing AI to attract and retain their customers, expand access to credit and improve financial access, and combat financial crime.”

Boms concluded by underscoring that “the promulgation of a legally binding financial data right is a critical first step towards broader deployment of AI-enabled financial tools that can meaningfully improve financial access and wellbeing,” along with more clarity from the agencies regarding the application of existing supervisory expectations on third-party bank partners that utilize AI-enabled tools for various financial products and services.

Image result for paperclip iconFDATA North America Submission to Financial Regulators’ AI/ ML RFI

 


ABOUT FDATA NORTH AMERICA
FDATA was heavily involved in the UK Open Banking Working Group in 2015. In 2016, the working group’s output was published by Her Majesty’s Treasury as the Open Banking Standard. FDATA North America was founded in early 2018. Its members collectively provide tens of millions of consumers in Canada, the United States and Mexico with aggregation-based tools to better manage their finances.

Members include air (Alliance for Innovative Regulation), APImetrics, Betterment, BillGo, Codat, Direct ID, Envestnet Yodlee, EQ Bank, Experian, Fiserv, Flinks, Interac, Intuit, Inverite, Kabbage, Mogo, Morningstsar, M Science, MX, Petal, Plaid, Questrade, Quicken Loans, SaltEdge, Trustly, ValidiFI, VoPay, Wealthica, Xero, and others.

Top