Berlin, 21st March 2023: Algoritmica is thrilled to announce that it has been selected for the “Google for Startups Cloud Program”. The resources (startup experts, cloud cost coverage, technical training and business support) will be used to launch a new AI-powered data and analytics platform for private credit market participants.
For financial institutions to harness and benefit from big data, they must:
- phase out obsolete statistical models and embrace machine learning techniques,
- combine this intelligence with the power and flexibility of a cloud infrastructure.
Algoritmica, the company behind Deeploans – an AI-based data processing software – is enabling this revolution in private credit pricing and risk modelling.
“We have been building Deeploans on Google Cloud infrastructure since the beginning. Google Cloud is the leading provider of technologies for processing big data at scale and securely deploying AI in banking and finance, a highly regulated industry where reliability and transparency go hand in hand.” says Calogero Zarbo, Algoritmica CTO and Co-founder.
Going forward, Algoritmica will integrate Deeploans with Looker – Google’s business intelligence software – to provide clients with improved accessibility to Deeploans data and analytics capabilities.
“Investors are looking for more data and transparency on banks’ balance sheets. Thanks to the Looker integration, market participants will be able to quickly generate relevant metrics – such as historical defaults and expected credit losses of corporate loans, residential mortgages, and consumer loans – for over 250 European lenders.” says Luca Borella, Algoritmica CEO and Co-founder.
“We are thrilled to see Algoritmica’s commitment to leveraging Google Cloud & Looker to drive innovation and deliver value to their customers. We are glad to support such a forward-thinking and dynamic startup in Berlin, and we look forward to continued collaboration and success together.” – Phil Wade, Head of SMB Cloud BI EMEA @GoogleCloud
Call to action: Private credit market participants interested in taking advantage of the AI-powered data and analytics platform can join the “Pilot Program”. Over the course of 3 months, Algoritmica will train Pilot Participants on main Looker analytics concepts, from building dashboards and managing content to running table calculations and other advanced functions. Reach out here to learn more.
About Algoritmica: Algoritmica is a Berlin-based startup that has built up profound expertise in automating the process of analysing and predicting granular loans credit events, such as defaults as well as expected and unexpected losses.