Altman Z-Score+ Mobile App Helps Users Assess a Company's Credit Worthiness

November 21, 2013

Xignite Market Data Cloud Powers Business Compass Credit Risk Analysis Application

SAN MATEO, CA – November 21, 2013 – Xignite, Inc., the leading provider of market data cloud solutions, today announced they are working with Business Compass, LLC to power their corporate credit risk analysis tool targeted to credit managers, controllers, investors and portfolio managers—the Altman Z-Score+ App for desktops  and Apple, Android and BlackBerry mobile devices. Based on Professor Edward Altman's renowned Z-Score model for corporate defaults, the application helps companies better assess credit worthiness and make informed decisions regarding lending, accounts receivables, investments and adverse corporate events. A case study on the Altman Z-Score+ solution is available.

Important decisions involving the extension of credit financing, vendor relationships and corporate investment are critical to today's businesses, generally requiring time-consuming and expensive due diligence to assess the current and future solvency probability of a company.  The Altman Z-Score+ mobile app delivers objective, real-time corporate credit risk analysis on thousands of U.S. and international companies at one-tenth the cost of competitive services. Users simply enter the ticker symbol of a company to receive their credit rating over the past three years, forecasted bankruptcy probability over the next 10 years and future default predictions for the corporation's new and existing corporate bonds and loans.

“Based on direct consumer feedback, we found that customers needed an easy way to analyze the financial well-being of a company,” says Sribatsa Das, founder and CEO of Business Compass. “They wanted to see how credit worthy a company had been over the past three years and know its bankruptcy probability for the next 10 years. The Altman Z-Score+ App provides the subscriber with insights beyond the traditional Z-Score by estimating bond rating equivalent (BRE), predicting up to 10 years of cumulative default probability and ranking a company within its industry sector."

The Altman Z-Score+ App utilizes a number of Xignite market data APIs to obtain income statement, balance sheet, shares outstanding and closing stock price data for the more than 3,700 companies tracked within the service. Combing fundamental business operations and valuation data with the current stock price, users are afforded up-to-date insight into the financial state of a company, enabling them to make informed business decisions.

"We found Xignite's solution to be simple to work with and easily integrated, allowing for quick time to market. Moreover, they are customer focused and committed, with a support team that is very approachable," offers Das. "We started the relationship with Xignite over a year ago and my experience has been positive every step of the way. Without the Xignite data, much of the capabilities delivered by the app would not have been possible."

Download the Altman Z-Score+ case study.

About Xignite

Xignite, Inc. is the leading provider of market data cloud solutions. The Xignite Market Data Cloud serves more than 8 billion requests per month and offers more than 40 market data feeds providing real-time, historical and reference data across all asset classes. Xignite CloudAPIs power mobile financial applications, websites, and front-, middle- and back-office functions for more than 1000 clients worldwide, including GEComputershareInvestopediaPersonal CapitalNatixisCharles SchwabSeeking AlphaStockTwitsStarbucks and NetSuite. The company also powers private-label, on-demand data distribution solutions for exchanges, including NASDAQ OMX and NYSE Technologies, data vendors including Direct EdgeSIX Financial Information and Alpha Trading, and financial institutions. For more information, visit http://www.xignite.com.

Previous Article
Xignite Introduces Free Stock Symbol TypeAhead API for FinTech Developers

Xignite TypeAhead Functionality Simplifies Financial Mobile and Web App...

Next Article
Xignite Joins NASDAQ OMX FinQloud to Enhance Data Storage and Computing Resources
Xignite Joins NASDAQ OMX FinQloud to Enhance Data Storage and Computing Resources

First Market Data Vendor to Join Financial Services Cloud EcosystemNEW YORK,...

"Cloudification of Capital Markets" On-Demand Webinar ft. Forrester Research & Amazon Web Services

View Now