Pendo Systems Surpasses Two Major Milestones on Their Path to Growth

Montclair, New Jersey, May 1, 2017 (Newswire.com) - ​Pendo Systems is proud to announce they’ve surpassed two major milestones as they prepare for their formal launch in Q3 2017: the successful completion of their first full deployment of the Pendo Data Platform for a major Global Bank; and their certification as a Women’s Business Enterprise (WBE).

Even ahead of its imminent launch, the Pendo Platform has garnered both recognition and awards such as the Swift Innotribe Top Innovator Award in 2015. Commenting on Pendo’s continued success since accepting the Innotribe Award, Kevin Johnson, Head of Innotribe Innovation Programmes, SWIFT, had this to say: "Where only 10% of all FinTech companies survive after 3 years of operation, over 90% of Innotribe's alumni are still operational or have been acquired. This validates our methodology in selecting the best start-ups, and we are proud to count Pendo Systems as one of our key success stories."

"Where only 10% of all FinTech companies survive after 3 years of operation, over 90% of Innotribe's alumni are still operational or have been acquired. This validates our methodology in selecting the best start-ups, and we are proud to count Pendo Systems as one of our key success stories."

Kevin Johnson, Head of Innotribe Innovation Programmes

The Pendo Platform revolutionizes the process of accessing data stored across millions of different document types. The Platform is used to gain access and insight to both structured and unstructured data sets, but it is the speed and accuracy with which the Platform can make unstructured data accessible that’s really turning heads. 

At the heart of the Pendo Platform is an Indexing and Classification algorithm that makes the data instantly searchable using natural search, thus turning millions of unstructured, and unsearchable documents into a structured database that makes visible mission critical information which was previously both difficult, and time-consuming to access.

On a recently completed project for a major global bank, the Pendo Platform processed 48 million unstructured documents in just seven weeks, making them instantly accessible and easily searchable — a project that had previously been expected to take four years and an army of consultants to complete.  

Says Pendo Systems CEO, Pam Pecs Cytron, “The fact of the matter is, data you can’t access or interrogate adds cost to an organization, it’s only when you turn that data into information that you’re able to extract maximum value from it.  That’s the beauty of our platform, access to the data you need to save your business money.” 

Pendo Systems is also proud to announce they have been certified as a Women’s Business Enterprise (WBE) through the Women’s Business Enterprise National Council (WBENC), the nation’s largest third-party certifier of businesses owned and operated by women in the US.

The WBENC certification process imposes strict requirements to prove a business is woman-owned and managed before granting certification. The primary criteria for a business applying for WBENC certification are that it has a majority female ownership (at least 51% by one or more women) and is managed by women. In addition, women must have unrestricted control of the business, and the highest defined title in the company’s legal documents must be held by a woman. Pendo is helmed by Pam Pecs Cytron, a veteran financial services executive who serves as Pendo’s CEO and Founder.

“We are thrilled that Pendo has earned this honor. The certification process is appropriately rigorous and takes into account many factors including the growth and trajectory of the company,” said Mrs. Pecs Cytron.

About Pendo Systems:

Pendo Systems has been providing software solutions to the financial services industry since 2007. Based in Montclair, New Jersey, with offices in Charlotte, NC, the Pendo senior management team has decades of experience developing, selling and supporting enterprise software solutions to global banks, insurance companies, and asset management firms. While engaging with some of the largest financial institutions in the world, Pendo prides itself on maintaining its agile development philosophy in order to address the ever-changing environment of the financial services industry.

About Innotribe
Launched in 2009, SWIFT Innotribe is about innovation and connecting people, networks and ideas. We bring together global innovators and investors, strategists, and influential decision-makers from leading financial institutions across the globe, providing them early insights into innovations that could disrupt current business models and create new opportunities for new ones. Through the Startup Challenge competition, we bridge the gap between the startup ecosystem and the financial service community. For more information, please visit www.innotribe.com or follow us on Twitter: @innotribe and Linkedin: Innotribe.

About SWIFT
SWIFT is a member-owned cooperative that provides the communications platform, products, and services to connect more than 10,500 banking organizations, securities institutions and corporate customers in more than 200 countries and territories. SWIFT enables its users to exchange automated, standardized financial information securely and reliably, thereby lowering costs, reducing operational risk and eliminating operational inefficiencies. SWIFT also brings the financial community together to work collaboratively to shape market practice, define standards and debate issues of mutual interest. For more information, visit www.swift.com or follow us on Twitter: @swiftcommunity and LinkedIn: SWIFT.

About The Women Presidents’ Educational Organization:

The Women Presidents' Educational Organization (WPEO) is a regional affiliate of the Women's Business Enterprise National Council (WBENC), the nation's premier third-party certification organization for women-owned businesses. The mission of the WPEO is to create increased access to business opportunities for WBEs. Its programs develop skills and knowledge for WBEs, advocate in the public and private sectors, foster relationships between WBEs, corporations and the government, and provide certification services. WPEO provides full-service third-party certification to women entrepreneurs in the New York, Northern New Jersey, Southern Connecticut and the Washington, DC, Maryland, and Virginia areas. WPEO is incorporated in the state of New York and is recognized as a 501(c) (3) organization. For more information, please visit www.wpeo.us. Follow us on Twitter (@wpeonydc); like us on Facebook (@TheWPEO).

For more information, contact: Phil Smith, Head of Marketing.  

[email protected]

Source: Pendo Systems