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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.

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FDATA North America Submits Comments to Alberta’s Privacy Protection Engagement Consultation

August 18, 2021, Washington, DC – Today, the Financial Data and Technology Association (FDATA) of North America submitted comments to Alberta’s consultation on efforts to strengthen and modernize privacy protections in the province. 

In its comments, FDATA North America called on the Alberta government to include a legally binding financial data access and portability right as it considers how best to promulgate data privacy standards in the province. FDATA North America Executive Director Steve Boms noted that a holistic and evidence-based approach should be taken “that recognizes the importance of data access and portability for consumers and small businesses across the province” while taking into account the realities of modern technology and digital business. 

In order to build an ecosystem in which Albertans’ financial data is protected while providing for the right to benefit from data access and data portability rights, Boms highlighted the importance of competition and adequate protections for data privacy and security in a data-driven financial services ecosystem. Doing so will deliver lower costs, better services, and better outcomes for consumers’ and small business’ financial outcomes, he stated. Boms noted that approximately four million Canadians already utilize at least one financial technology application which relies on consumer consent and enables them to control which providers they allow to access their data, how their data is being used, and when access to their data is revoked. 

Boms concluded by noting that while the federal government moves forward slowly, Alberta can – and should – provide for stronger financial data access rights for its residents more quickly. 

Image result for paperclip iconFDATA North America Submission to Alberta Government on its Privacy Protection Engagement Consultation

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, Basis Theory, Betterment, BillGo, Codat, Direct ID, Envestnet Yodlee, Equitable Bank, Experian, Fiserv, Flinks, Interac, Intuit, Inverite, Kabbage, Marble, Mogo, Morningstsar, M Science, MX, Petal, Plaid, Questrade, Quicken Loans, SaltEdge, Trustly, ValidiFI, VoPay, Wealthica, Xero, and others.

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FDATA North America Applauds Release of Final Report of Canadian Advisory Committee on Open Banking

 

Contact: Kerrie Rushton, (202) 365-6338, [email protected]

August 4, 2021, Washington, DC –The Financial Data and Technology Association (FDATA) of North America today issued a statement following Finance Minister Chrystia Freeland’s release of the report customer-directed finance (CDF) by the Advisory Committee on Open Banking. Executive Director Steve Boms said:

“This report is an important milestone in Canada’s move toward customer-directed finance, and in achieving a customer-centric, 21st century financial services marketplace that enhances financial access and boosts competition. Major markets around the world have implemented or are designing open finance regimes that give families and small businesses more control over their financial lives. The fintech community has worked tirelessly with policymakers over the last several years to ensure that Canadians are not left behind. We are grateful to Minister Freeland for finally moving this file forward.

“As we look forward to next steps of a Canadian CDF system, we urge policymakers to move quickly to begin implementation, and to ensure the framework allows for payment initiation and money movement use cases. The COVID-19 pandemic has demonstrated how important these services are to families and small businesses. The fintech community has supported Canadians during this crisis, offering seamless products that provide access to capital, payment and accounting services, and countless other applications. Payment initiation and money movement must be accounted for in this new regime.”

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, Basis Theory, 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.

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FDATA North America Submits Comments to Canada’s Standing Committee on Finance Pre-2022 Budget Consultations

August 3, 2021, Washington, DC – Today, the Financial Data and Technology Association (FDATA) of North America submitted comments to Canada’s Standing Committee on Finance (FINA) as part of its pre-budget consultations in advance of the 2022 budget.

In its comments, FDATA North America called on the government to fully embrace a digital-first future for its financial sector as well as a consumer-centric model for its privacy arena, and pointed to a customer-directed finance (CDF) environment as a cornerstone of this future system. This new legal framework will “improve access to financial services, ensure a more level regulatory system for financial service providers, improve competitiveness, and foster innovation, all of which will contribute to health and sustained macroeconomic growth.” 

To achieve a modernized open finance system that mitigates risks and protects consumers and small businesses by ensuring that providers’ privacy protections meet regulatory standards, that customer privacy is assured regardless of whether their chosen service provider is a financial institution or non-bank fintech, and recourse mechanisms to make consumers affected by a data breach whole, FDATA North America suggests that the government should include language in Budget 2022:

  1. implementing a CDF regime that include clear definitions of consumer and small business financial data rights, scope, and portability; and
  2. to enshrine a new CDF Implementation Entity (IE) tasked with the design and implementation of open finance in Canada. 

Without this framework, Canada will remain in a financial status quo where consumers and other end users lack control of their personal information and cannot benefit from financial innovation. By delaying this approach, FDATA North America argues that Canada risks falling further behind as a world leader in digital innovation and misses an opportunity to provide cutting-edge financial services to its consumers and small businesses.

Image result for paperclip iconFDATA North America Submission for the Pre-Budget Consultations in Advance of the Upcoming Federal Budget

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, Basis Theory, Betterment, BillGo, Codat, Direct ID, Envestnet Yodlee, Equitable Bank, Experian, Fiserv, Flinks, Interac, Intuit, Inverite, Kabbage, Marble, Mogo, Morningstsar, M Science, MX, Petal, Plaid, Questrade, Quicken Loans, SaltEdge, Trustly, ValidiFI, VoPay, Wealthica, Xero, and others.

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