Accern is a predictive analytics startup that consolidates over 1 billion websites including news, blogs, social media platforms, SEC filings, and even premium newsfeeds such as Dow Jones Factiva to drive early trading decisions for their quant and hedge fund customers.
Nominated for: Best Proprietary Platform or API
Born out of a frustration for an intelligent newsfeed that condenses social media rumors, news sites and key financial data, Accern is a real-time news surveillance terminal powered by proprietary artificial intelligence algorithms that alerts traders and brokers on rumors and stories that can drive early trading decisions. Traders and brokers from the largest international financial institutions and hedge funds use the media enterprise to detect news in real-time that could impact market prices. Accern’s database streamlines existing newsfeeds to a single platform that lends a competitive advantage over other traders. Institutions using Accern have saved an average $2k a month per user in news platforms. An investment bank with 500 traders and equity researchers can save more than $12m a year in news subscriptions by getting rid of all their redundant news platform and switching to Accern because we are also to consolidate all of the existing information already on most news platforms along with more than 300 million websites. The startup’s internal tests showed this AI-solution could help clients yield over 90 percent more profits over several years.