Fast-growing business intelligence and data analytics software developer Panintelligence has announced a partnership with a Boston-based fintech software firm.
The partnership marks the first deal originated in the US for Leeds-based Panintelligence since the business established a Boston office in the city last year.
Hound Software, which launched in Boston in 2017, specialises in the intelligent processing automation of critical business processes, such as revenue management and compliance.
The platform connects diverse software systems, users and customers, largely for clients in the banking and financial services sectors. The new partnership will see Hound Software integrate the highly secure Panintelligence Pi suite of data analytics software into its operation.
Pi software enables businesses to use data in almost any format to trigger bespoke reports and visualise trends in real time. The platform helps organisations to optimise the way they use their own data and to provide real-time strategic insights using machine learning.
Panintelligence CEO Zandra Moore said: “We saw significant synergies between Hound Software and ourselves, and we are excited to be bringing our AI decisioning capability to combine with Hound’s superb innovative workflow processing engine.
“Since opening our Boston office last summer we’ve been in conversation with a number of potential partners and we’re excited to launch this first partnership out of our Boston office with the Hound team.”
She added: “The Pi software was originally developed to enable the secure processing of high volumes of transactional data from UK credit providers. It has evolved into a suite of solutions that can be used across diverse business sectors, with the integrity and security qualities of the credit sector retained. In this partnership it is our newly launched machine learning element that will bring intelligent decisioning to their robotic process automation capability.”
Hound Software co-founder Manrique Feoli said: “The Panintelligence Pi technology gives uniquely ergonomic insights into data and can be used to analyse almost endless permutations of data trends and anomalies live and automatically to automate our workflow solutions intelligently.
“Simply put, that means that mixing the power of Hound with Pi creates a fantastic ultra-powerful mix of capabilities that will provide something hardly anyone is doing.
“It will be amazing to be able to provide this converged solution for our mutual clients as a way of solving problems and filling gaps that some larger, less agile platforms cannot.”
Panintelligence was co-founded by CEO Zandra Moore and CTO Ken Miller in 2014. The firm announced expansion to the US in summer 2019 and in November 2019 it secured £5m backing from YFM Equity Partners and Comhar Capital in a Series A fundraising.
As the business scales rapidly it has invested in key board appointments and an expanded development team, including ex-PayPal Europe and Barclaycard director Howard Bell.
The Pi software currently has over 200,000 users worldwide across a wide range of industry sectors, from retail and education to local government and healthcare.