December 17th, 2020

Translucent Computing eyes growth into US market through fintech and healthcare solutions

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TORONTO, Ontario – Translucent Computing (Translucent) has completed its export plans for US market penetration through its consulting services in fintech and healthcare.

As one of Canada’s emerging technology companies, Translucent uses its TEKStack AI fintech solution to help lenders make informed data-driven decisions with respect to fraud detection, automation adoption and implementation, and accessing a larger customer base for microloans.

Translucent also sees firsthand how data is changing the healthcare landscape, where the company’s Emrchiver platform is enabling healthcare administrators, practitioners and researchers through machine learning.

At a time when many companies may be challenged by the global pandemic, Translucent has not only already adapted and planned for its next stage of growth but is also in a strong position to enter the US market.

In September 2020, Translucent actively participated in the Trade Accelerator Program (TAP) offered by the World Trade Centre Toronto Institute. This program for export planning is sponsored and widely recognised by the Canadian government and other agencies like the Royal Bank of Canada, Export Development Canada (EDC), and the Business Development Bank of Canada (BDC).

“Translucent Computing developed a comprehensive export plan to proactively tackle their first international market,” said Dalal Zayouna, Account Manager of the Technology Group from EDC. “We look forward to working with Translucent Computing as they continue to expand globally.”

Malak Marzouk, Manager of the TAP, saw firsthand the enthusiasm, determination and drive that Translucent brought to the continuous refinement of their export plan. “Over the course of seven weeks as they built their extensive plan,” Marzouk remarked, “the Translucent team also provided endless and valuable insights to the conversation with other participating companies, ranging from best business practices to advice on various aspects of relationship building, salesforce management, and strategic R&D investments.”

“Going through the TAP training and having industry thought leaders and market experts review our plan validated the effectiveness of our strategy,” said Robert Golabek, Chief Executive Officer of Translucent Computing. “We thoroughly considered the opportunities, significant market factors, timing and costs, then formalised the plan to propel our growth.”

Digital health and electronic medical record technologies are projected to experience a significant compound annual growth rate (CAGR) of 15% over the next five years, with AI technologies in this space growing at a CAGR of 40% over the same period. While growth rates will be similar in both Canada and the US, the latter will see a slightly higher rate.

“As the bank for Canadian entrepreneurs, we look forward to actively working with Translucent Computing on realizing their global growth ambitions,” said Nishant Raizada, Senior Account Manager of the Technology Industry at BDC. “Our Advisory team is eager to help them scale up and seize the opportunities at hand through our Revenue Growth Program.”

“We understand that the time to enter the US market is now,” Golabek added. “We’re proud to also represent Canada’s growing tech industry, and hope to showcase our homegrown talent to our neighbours in America.”

About Translucent Computing

Founded in 2010, Translucent Computing is a Toronto-based data-driven digital transformation service provider and machine learning technology partner, with experience building innovative software solutions in Canada. Translucent accelerates digital technology adoption using their expertise in Kubernetes and application development. They partner with and support companies in multiple sectors and industries – including fintech and healthcare – to provide quality and innovation to deliver better value to their customers.

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