Decentralized credit intelligence platform, Synnax, announced the beta launch of Credit Intelligence, which aims to transform how creditworthiness is assessed. By integrating decentralized AI, privacy-preserving computation, and blockchain technology, it offers a system that provides real-time, unbiased predictive credit intelligence. This approach sets a new standard in credit analysis and financial insights.
“The credit rating industry has long struggled with a lack of meaningful innovation, burdened by outdated methodologies and inherent limitations,” says Robert Alcorn, CEO and Co-Founder of Synnax, in a written statement. “Synnax changes that narrative. We’ve built a platform that offers truly independent, forward-looking Credit Intelligence powered by a decentralized network of incentivized and independent machine learning models. By crowdsourcing predictive credit signals, we go beyond the confines of traditional credit analysis. This is a game changer for both public and private credit markets,” he added.
Synnax currently provides Credit Intelligence for more than 20,000 public companies globally. This intelligence is delivered through Credit Signals—an adaptive alternative to traditional credit ratings—that includes both projected evaluations and point-in-time assessments. Additionally, it has introduced the Resiliency Score (R-Score), which is a consensus-driven probability indicating a company’s likelihood of meeting its debt obligations within the next 18 months.
Furthermore, Synnax’s Credit Intelligence dashboard offers an extensive level of financial detail, showcasing predictive values for 17 key financial indicators and 22 important financial ratios for each company in its database. This feature equips underwriters, analysts, and lenders with a transparent and data-rich perspective on a company’s financial outlook, free from bias or external influence.
“Our back-testing has shown that Synnax’s predictive models can identify signals that often precede bankruptcy by up to 12 months. In essence, we’ve built a tool that can forecast the financial trajectory of a company, providing an early warning system for both positive and negative trends. This isn’t speculation; it’s technology analyzing the past to illuminate the future,” explained Robert Alcorn.
Synnax Extends Credit Intelligence Offerings To Privately Held Companies
Following this launch, Synnax plans to extend its offerings to privately held companies in both Web2 and Web3. For the first time, these businesses will gain access to a Synnax Credit Intelligence dashboard at no cost, allowing them to demonstrate their creditworthiness with transparency and confidence.
Built on decentralized AI and blockchain technology, Synnax is fundamentally a Web3 company, yet its Credit Intelligence platform reaches beyond the Web3 realm. Featuring a Web2.5 interface, it blends the advantages of both worlds: the transparency and security of decentralization with the user-friendly experience typical of Web2.
This latest beta launch comes after a strategic funding round in October 2024 with Wintermute Ventures and TON Ventures, bringing Synnax’s total fundraising to $1.55 million. The new funding will support the ongoing development of Credit Intelligence protocol and its Telegram mini-applcation—SynQuest, which has attracted over 320,000 users since its launch in September.
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