Artesian Solutions experiences record growth of 135%
A leading provider of client intelligence, Artesian Solutions, has announced a stratospheric growth rate in its 2020/21 fiscal year - hitting 135% above its projected targets.
The technology company, which serves clients including leading banking, financial service and insurance providers across all vertical sectors, was founded in 2006 and recently grew its team of specialists to expand its current operations.
Artesian Solutions reads, aggregates and interprets data from millions of sources online, creating meaningful insights from them for B2B customers.
The COVID-19 pandemic has resulted in a massive business for Artesian Solutions, which works with fintech and insurtech companies to provide client pre-screening for risks and opportunities, triage and credit scoring, underwriting risks, accelerated client on-boarding, screening and remediation of back-book, monitoring for early warning indicators and enhanced lead indicators.
Artesian has invested over a decade creating leading technology which can read and interpret millions of sources of unstructured content published online which it can combine with factual data about companies.
The financial services sector accounted for 91% of Artesian’s revenue during the 2020/21 period, with the company welcoming 70 new customers and delivering larger deals with longer contract terms.
The pandemic has also meant Artesian’s service – which allows users to track their customers – also resulted in strong customer retention rates, achieving a net retention number above 110%.
Artesian also proudly maintained EBITDA’s profitability, returning a real-terms cash-conversion ratio greater than 100%.
New technology for insurtechs
In January 2021 Artesian announced the launch of Artesian Connect. The new platform combines the latest advances in data-science with the world’s best business information to solve complex, high-value frontline execution challenges
Artesian also announced new strategic data partnerships with Experian, D&B, Refinitiv, LexisNexis, Graydons and many others making it easy for customers to use their preferred data providers as part of the Artesian Connect framework.
According to reports, Artesian’s Risk and Compliance Hub (ARCH) uses a sophisticated, programmable decision engine to monitor real-time credit risk and KYC data sources. It also applies a company’s own internal policies to immediately flag potential issues so they can be resolved by the front-line teams who are best placed to engage with the client.
Speaking about the recent fiscal report and the company’s growth strategy, Artesian Solution’s CEO Andrew Yates, explained, “It’s been a pivotal and transformational year for Artesian. We’ve set new benchmarks in terms of growth and profitability by addressing head-on the disruption caused by COVID-19, being in a strong position to help our customers help theirs,” he commented.
Yates said that by harnessing the world’s largest source of intelligence in combination with the latest advances in data science, Artesian Solutions has been able to help their customers solve the most complex challenges.
“As we move through 2021 and beyond, we will continue to help our customers create more time to spend with their clients by better anticipating needs and navigating the road ahead,” he added.
During 2020/2021, Artesian increased new business bookings by 22%, achieving a series of notable customer wins, including Connect Platform deals with Lombard, QBE Insurance, Triodos Bank, Premium Credit and Metro Bank among others.