When Rachel Carpenter and Joseph French founded Intrinio a decade ago, the fintech revolution had only just begun. But they saw an opportunity to apply machine learning to vast amounts of financial filings to create an alternative data provider among the giants.
The startup, based in St. Petersburg, Fla., delivers financial data to hedge funds, proprietary trading shops, retail brokers, fintech developers and others. Intrinio runs machine learning on AWS instances of NVIDIA GPUs to parse mountains of publicly available financial data.
Carpenter and French realized early that such data was sold for a premium, and that machine learning offered a way to sort through free financial filings to deliver new products.
The company offers information on equities, options, estimates and ETFs - as well as environmental, social and governance data. Its most popular product is equities-fundamentals data.
Intrinio has taken an unbundling approach to traditional product offerings, creating la carte data services now used in some 450 fintech applications.
GPUs have helped us unlock data that is otherwise expensive and sourced manually, said Carpenter, the company's CEO. We built a lot of technology with the idea that we wanted to unlock data for innovators in the financial services space.
Intrinio is a member of NVIDIA Inception, a free, global program designed to support cutting-edge startups.
Partnering With Fintechs With lower overhead enabled by GPU-driven machine learning for providing financial data, Intrinio has been able to deliver products at lower prices that appeal to startups.
We have a much smaller and agile team, because a small team - in conjunction with NVIDIA GPUs, TensorFlow, PyTorch and everything else that we're using - makes our work a lot more automated, she said.
Its clients include fintech players like Robinhood, FTX, Domain Money, MarketBeat and Alpaca. Another, Aiera, transcribes earnings calls live with its own automated-speech-recognition models driven by NVIDIA GPUs, and relies on Intrinio for financial data.
Our use of GPUs made our data packages affordable and easy to use for Aiera, so the company is integrating Intrinio financial data into its platform, said Carpenter.
Aiera needed financial-data-cleansing services for consistent information on company earnings and more. Harnessing Intrinio's application programming interface, Aiera can access normalized, split-second company financial data.
GPUs are a critical component of Intrinio's underlying technology - without them, we wouldn't have been able to apply machine learning techniques to the cleansing and standardization of fundamental and financial statement data, said Carpenter.
Servicing Equities, Options, ESG For equities pricing, Intrinio's machine learning technology can sort out pricing discrepancies in milliseconds. This results in substantially higher data quality and reliability for users, according to Carpenter. With equity fundamentals, Intrinio automates several key processes, such as entity recognition. Intrinio uses machine learning to identify company names or other key information from unstructured text to ensure the correct categorization of data.
In other cases, Intrinio applies machine learning to reconcile line items from financial statements into standardized buckets so that, for example, you can compare revenue across companies cleanly.
The use of GPUs and machine learning in both of these cases results in higher quality data than a manually-oriented approach. Using Intrinio has shown to decrease by 88% the number of errors requiring corrections compared with manual sorting, according to the company.
For options, Intrinio takes the raw Options Price Reporting Authority (OPRA) feed and applies cutting-edge filtering, algorithms and server architecture to provide its options API
ESG data is also an area of interest for investors right now. As retail investors are starting to be more conscious of the environment and institutions are feeling the pressure to invest responsibly, they want to see how companies stack up with this information.
As regulation around ESG disclosures solidifies, Intrinio says it will be able to use its automated XBRL-standardization technology to unlock these data sets for their users. XBRL is a standardized format of digital information exchange for business.
On the retail side, app developers need to show this information to their users because people want to see it - making that data accessible is critical to the evolution of the financial industry, said Carpenter.
Register free for GTC, running online Sept. 19-22, to attend sessions with NVIDIA and dozens of industry leaders. View the financial services agenda for the conference.
Image credit: Luca Bravo from Unsplash
Most recent headlines
04/08/2024
Dalet, a leading technology and service provider for media-rich organizations, is excited to announce Santiago Solanas as its new Chief Executive Officer (CEO)....
03/06/2024
Dalet, a leading technology and service provider for media-rich organizations, a...
28/04/2024
Mediahaus delivers the first SRT live-streaming sports production over 5G with U...
26/04/2024
Sundance Film Festival CDMX 2024 kicks-off today with screenings in 5 theaters in Mexico City and the opening-night film, FRIDA, directed by Carla Guti rrez...
26/04/2024
[Editor's Note: This interview is part of a larger feature about the women d...
26/04/2024
Once again this year, SGL Carbon opened its doors to interested children and young people. On the occasion of the German Girls and Boys Day, which took place on...
26/04/2024
Orders1 of $5.5 billion; book-to-bill of 1.06x
Revenue of $5.2 billion, up 17%,...
26/04/2024
Five Considerations For Communications Modernization In The 21st Century
In the digital-enabled battlespace, the Joint Force needs to shoot, move and communica...
26/04/2024
CBS Sports has launched Champions League as a new, 24-hour streaming channel that will serve as the year-round destination for nonstop highlights of the UEFA ...
26/04/2024
Despite tough competition in the streaming space, Roku reported solid results in Q1 2024, beating revenue expectations, with total net revenue up 19% YoY to $88...
26/04/2024
LONDON AND TORONTO Pinewood Toronto Studios has appointed Sarah Farrell as general manager of the Studios in downtown Toronto....
26/04/2024
Quantum to Offer Advanced Filesharing Technology and Performance in StorNext and...
26/04/2024
FilmLight Colour Awards welcomes 2024 entries and introduces new Emerging Talen...
26/04/2024
Picture Shop Announces Chris Evans as Head of Unscripted
Brie Clayton April 26, 2024
0 Comments
Picture Shop announced Chris Evans will lead Unscripte...
26/04/2024
Participate in a Survey - The Impact of AI on Media and the Creative Industry
Pascal Wagner April 26, 2024
0 Comments
By participating in this survey,...
26/04/2024
Toy maker Mattel said it is working with Samsung to launch its first free ad-supported streaming television (FAST) channels later this year....
26/04/2024
Trusted Media Brands (TMB) said it named Marty Moe as president....
26/04/2024
Ron Howard is the director on Jim Henson Idea Man, a documentary that premieres on Disney Plus May 31. Henson of course created Kermit the Frog, Miss Piggy, Big...
26/04/2024
The ice continues to melt under the regional sports network business as the Seattle Kraken of the National Hockey League have made a long-term deal to broadcast...
26/04/2024
Heading into the upfronts, Warner Bros. Discovery said it launched Olli, a first-party data platform advertiser can use for converged, targeted advertising camp...
26/04/2024
CBS has renewed the drama The Equalizer, which will see season five on in 2024-2025. Queen Latifah stars....
26/04/2024
The CW has entered into an exclusive multiyear broadcast partnership for the Miss USA Pageant and the Miss Teen USA Pageant. The 73rd Miss USA Pageant will air ...
26/04/2024
Fuse Media isn't mincing words in a campaign urging its young viewers to register and participate in the 2024 elections....
26/04/2024
Dead Boy Detectives, a series from Neil Gaiman about a detective agency staffed by ghosts, debuts on Netflix April 25. George Rexstrew and Jayden Revri are in t...
26/04/2024
The Story Collective has gradually repurposed the former Mortlake Brewery to include production offices, workshops and sound stages
By Matthew Corrigan
Publi...
26/04/2024
Perkett joins the company following a 25 year career in product management, product marketing, engineering and user experience (UX) across multiple industries
...
26/04/2024
Teradek, the industry leader in wireless video transmitters and receivers, announced today the launch of new Bolt 6 LT 750 and Bolt 6 Monitor Module 750 RX with...
26/04/2024
NEW YORK Amagi has appointed Richard Perkett chief product officer (CPO)....
26/04/2024
WASHINGTON, D.C. The National Association of Broadcasters (NAB) has announced the results of the 2024 NAB Radio and Television Board of Directors elections. The...
26/04/2024
EL SEGUNDO, Calif. & NEW YORK Mattel has announced a deal to launch its first three 24/7 free ad supported streaming (FAST) channels on Samsung TV Plus, Samsung...
26/04/2024
PORTLAND, Maine Viewers here can now receive the NextGen TV signals of five local stations with the launch of ATSC 3.0 service from host station WPFO, which is ...
26/04/2024
TORONTO Rogers Communications has signed a 10-year agreement with Comcast to bring the latest Xfinity products and technology to Canadians....
26/04/2024
Calrec is very pleased to announce the benefits of its highly flexible approach to customer service has been recognized with a third award for the Argo range. T...
26/04/2024
New Adobe Photoshop with Advanced Generative Fill and Generate Image Brings New ...
26/04/2024
Trends And Takeaways From NAB Show 2024
Melanie Ciotti April 25, 2024
0 Comments
NAB's Eric Trabb (right) awards SNS with two NAB Show Product of ...
26/04/2024
Sony's Ci Media Cloud Keeps NHRA Moving
Brie Clayton April 25, 2024
0 Comments
Cloud-Based Media Asset Management and Collaboration Platform Accel...
26/04/2024
Capitol Broadcasting & Leadership Triangle Collaborate for Third Year
Capitol B...
26/04/2024
The staff at CBC Radio have been hard at work creating several new features for listeners and viewers. Several debuts are taking place this spring.
I have nev...
26/04/2024
26 Apr 2024
Cricket Finds Its Digital Home in Bangladesh: VEON's Banglalink...
26/04/2024
NBA Playoffs 2024: ESPN Rolls Out Huge Production Operation for Busy First Round Tech deployments include miked on-field personnel, shot-distance tracking, AR g...
26/04/2024
NHL Stanley Cup Playoffs: ESPN Ops Team Navigates Both Sides of the Border With ...
26/04/2024
Behind the Scenes at the 2024 NFL Draft in Detroit (Photo Gallery) After just the first round, the 2024 NFL Draft has already made quite an impression in Detroi...
26/04/2024
NFL Draft 2024: Van Wagner Powers Onsite Entertainment Experience for Record Cro...
26/04/2024
Rohde & Schwarz presents spectrum dominance in all domains at AOC Europe Rohde & Schwarz demonstrates the next generation of SIGINT/EW systems and sensor fusi...
26/04/2024
MCine Mauritius is to use Qube Wire for all future DCP deliveries across their e...
26/04/2024
Skeem Saam' May Spoiler: Has Lehasa killed Khwezi?The Skeem Saam' May teasers mention Lehasa being apologetic about killing someone. Is it his baby mam...
26/04/2024
Skeem Saam: Thursday's episode, 25 April 2024 [video]Missed an episode of Skeem Saam? No problem! Watch the latest episode of your favourite South African s...
26/04/2024
Prison Journalism: Some issues to considerWesley Leong was incarcerated at the age of 15 in 1996 at Pollsmoor Prison. He is currently part of Restore's rese...
26/04/2024
Tonight on Scandal: A line is crossed and a mother starts to lose focusDon't miss Friday, 26 April's riveting episode of South African soapie Scandal! o...
When Rachel Carpenter and Joseph French founded Intrinio a decade ago, the fintech revolution had only just begun. But they saw an opportunity to apply machine learning to vast amounts of financial filings to create an alternative data provider among the giants.
