“UK start-up transforms Companies House Data into Gold”

: UK Head and Co-Founder

London, UK – 8 September 2017 –  “Corporates and financial institutions can now depend on enhanced analytics produced by MyFinB using data provided by government agencies such as Companies’ House. Using Artificial Intelligence (AI) and Natural Language Generator (NLG) technology, MyFinB can turn limited information from financial statements into detailed narrative insights that come with a due diligence checklist and action plans for users”, says MyFinB UK CEO, and Co-Founder, Steve Taklalsingh.

According to Companies House, there are more than 3.5 million limited companies registered in the UK and 500,000 new companies are incorporated each year. Anyone can tap into the data and upload into MyFInB platform to get a detailed view of the business performance, shareholder value, productivity and risk appetite of the subject company. Generally, the annual accounts for a UK Limited Company are to be filed with Companies House 9 months after the company’s financial year has ended. Under the Small, Business, Enterprise and Employment Act 2015, companies will be freed from the requirement to submit an annual return. Instead, companies will be required to file a ‘confirmation statement’ whereby they must confirm or update (if applicable) similar information at any time within a 12-month period.

“Instead of relying on expensive consulting agencies or going through the lengthy process of personally understanding a company’s financial data in detail, one can now turn to MyFinB. The latter is able to provide users and decision makers with A.I. generated reports within a 3-hour turnaround time for a batch of 1000 companies per day. As the reports are generated automatically, they are highly accurate and objective. The engine does not recognise fatigue or bias,” explains Steve.

“Every enterprise needs to submit their annual accounts to Companies House. Even small companies need to provide summarised accounts. On a daily basis, MyFinB UK processes thousands of UK companies from Companies House and provides a goldmine of insights, solutions and risk management strategies pertaining to any UK-registered company,” asserts Steve.

“Every bank, investor, business partner and professional firm can utilise MyFinB to make better and well-informed decisions.”

Costing only £150, the 20-page Management Review report provides detailed analysis of the past performance and expected future performance of the company, and lists down the top 20 issues that need to be resolved to improve overall financial performance.

For more details, please contact: uk@myfinb.com

About MyFinB

MyFinB sets out the vision of helping more than 100m businesses worldwide make sense of their financial statements using its proprietary Artificial Intelligence (AI) and Natural Language Generator (NLG) engines. With regional headquarters in Singapore, Malaysia and UK, it serves four segments (financial institutions, accounting and consultancy firms, government agencies and enterprises) globally – and help them achieve higher productivity, lowered risks and better shareholder value.

For more details, please visit www.MyFinB.com and email: corpcomms@MyFinB.com.