Montclair, NJ, May 02, 2016 –(PR.com)– In the wake of FDIC stress test failures, veteran financial technology firm Pendo Systems announced today the launch of Version 3.1 of its data exploration, discovery, and analysis platform, The Pendo Data Platform (PDP). PDP enables financial institutions to quickly identify the resident dark data held hostage in legacy systems and documents. PDP is designed for business users to combine structured and unstructured data in a user-friendly dashboard, providing data harmonization and rapid analysis. The average project using PDP lasts two to three months.

Company officials expect this technology to benefit the industry by exposing the dark data required for complete transparency. Pendo’s CEO, Pamela Pecs Cytron, states, “Our results are undeniable. We are empowering the business users to accelerate delivery of results and eliminate delays within the technical process to obtain the data. Data sources are identified from a system, table, PDF, or even e-mail, generating a consolidated view. The data is then available for indexing, searching, and quick analysis.”

About Pendo Data Platform:

The Pendo Data Platform addresses the challenges of multiple sources of information, redundant customer data, and dark data trapped in legacy systems. PDP eliminates the inefficiencies and lost opportunities that result from poor data integration and visibility. Pendo’s CTO, Philip Dodds, states, “We are an-off-the-shelf tool set which performs the same type of rapid analysis performed in the Panama Papers on your internal databases, document store, and emails.” This breakthrough solution liberates data and enables business users to quickly get the insights needed to make business decisions and take action. It is designed to complement existing systems and strategies.

About Pendo Systems:

Pendo Systems, Inc. (“Pendo”) provides an important technology solution to a major problem in today’s financial services industry; lack of data transparency from disparate legacy systems and processes. Pendo has achieved much success and is positioned to become the leading provider of mission-critical, sophisticated financial services software products.