Location: Franklin, MA
Industry: Professional services
Founder and CEO
THE FIX FOR DATA
When the U.S. economy fell on hard times, Saylent Technologies, Inc. was in a bind. The company had the difficult task of selling to and serving the organizations that were hit the hardest by the recession: banks. Saylent hunkered down, readjusted its business plan, and made it through. Today, Saylent’s analytic software delivers actionable insights on the financial behaviors of consumers and businesses. Its two solutions, Account360 and Card360, enable data mining so that “financial institutions are empowered to drive new revenue streams and increase loyalty,” says Tyson Nargassans, founder and CEO of Saylent.
Quick Tip “There is a fine line between staying true to your plan and realizing it needs a fresh look.”
Nargassans attributes Saylent’s success to a compelling need for the company’s solutions, regardless of the economy’s ups and downs: “Banks and credit unions have a lot of data, but many lack the resources to accurately understand what the data says about customer behaviors, and then use it to effectively meet their customers’ needs.” As Saylent has grown, Nargassans says he learned the importance of evolving with the market. While the company originally sold to banks and credit unions directly, it pivoted to a SaaS delivery model to withstand the recent recession. With data being generated at a faster pace than in any other period in history, and banks struggling to connect with customers across multiple channels, Nargassans believes that Saylent has the fix.