Pendo Systems Releases Version 4.0

MONTCLAIR, N.J., Feb. 26, 2018 /PRNewswire/ -- Pendo Systems is delighted to announce the release of Version 4.0 of the highly successful Pendo Machine Learning Platform (PMLP). The new release enables firms to significantly enhance overall productivity and improve business performance, whilst always keeping the core business user requirements front and center. Version 4.0 incorporates a number of new capabilities including a significantly improved Machine Learning toolset which accelerates time to implementation as well as offering the ability to tackle more complex Machine Learning processing challenges.

Other key features include the capacity to create training data via an enhanced UI which streamlines the complex management, classification and processing of all documents and enables users to train models against it. New connectivity options with CMIS (Content Management Interoperability Services) support and web crawling have also been added. The upgraded solution now includes new plugins that integrate seamlessly with other systems to provide access to a range of Machine Learning algorithms.

Phillip Dodds, Pendo Systems CTO, commented, "Version 4.0 is a significant step forward for the firm because it has been specifically designed to be even more 'business user' friendly. By enabling onsite training of models that are less IT-dependent means our clients can now use their own data to train Machine Learning algorithms in an agile and cost-effective way, irrespective of whether it is behind their own firewall or in a secure cloud environment. These features, combined with significant enhancements to our proprietary query language and the existing UX, means the highly flexible Pendo Platform provides a solid foundation for all companies who are looking to adopt unstructured Machine Learning capabilities to enhance business productivity and exploit new opportunities. The platform is tried, tested and has been in constant use for the past two years."

Pam Pecs Cytron, CEO at Pendo Systems concluded, "The release of version 4.0 is a further demonstration of our ruthless commitment to continued product innovation. Empowering the business user is an essential component of our strategy and this approach is already paying handsome dividends in terms of new user adoption. Across the financial services and insurance spectrum, we are seeing a number of common trends emerging in terms of the benefits our clients are already deriving from the Pendo Platform. Accelerating cost takeout strategies, automating lending decision support, improved policy control, enabling better AML and enhanced STP & Risk Management capabilities, to name just a few, all feature very highly on their agendas, and there is so much more we can deliver. We truly believe the Pendo Platform is changing the way our clients can exploit the value of unstructured data. Version 4.0 is another major step on the journey and is already enabling Pendo to help unlock even more value to our users."

Pendo Systems

The Pendo Machine Learning Platform (PMLP) is a data management and intelligence platform that provides exploration, discovery and analysis capabilities across multiple, disparate sources of unstructured data. It transforms unstructured data into AI-ready datasets at machine scale and significantly improves on standard NLP libraries by applying real-world, customer training data – improving accuracy to over 95 percent. Headquartered in New Jersey with offices in Charlotte, North Carolina, the senior management team brings decades of experience developing, selling and supporting enterprise-grade software solutions to global banks, insurance companies and asset management firms. The firm prides itself on maintaining its agile development philosophy in order to address the ever-changing environment of the financial services industry.

Pendo Systems is certified as a Women's Business Enterprise by the Women's Business Enterprise National Council (WBENC), the nation's largest third-party certifier of the businesses owned and operated by women in the United States.

For press information

Clare Walsh | [email protected] | +44 7768 770757

Hannah Pewter | [email protected] | +44 7500 905415

For company information

Philip Smith [email protected] | 646.354.0067

SOURCE Pendo Systems