The Honourable Andrew Parsons, KC, Minister of Industry, Energy and Technology, today announced support for a St. John’s financial tech company which is bringing machine learning innovation to its accounting intelligence and workflow automation software. Keen Payroll and Staffing will receive $284,000 from the Provincial Government for improvements to its MyKeen Financial Platform.
Keen Payroll and Staffing Inc. (Keen) was founded with a vision of streamlining the accounting processes for businesses, making the process more efficient, accurate and accessible. Keen aims to serve the evolving needs of small and medium-sized businesses with a comprehensive suite of offerings including accounting, bookkeeping, payroll, financial management, and tax compliance.
Unlike traditional accounting software solutions that primarily focuses on historical data analysis, the MyKeen Financial Platform will leverage advance machine learning algorithms to provide business intelligence, decision-making and automations rooted in predictive financial insights and foresight. The company will use machine learning to review data patterns and predict trends by including a broader set of historical, current and external data sources. The software allows users to forecast future financial conditions with greater accuracy and enables proactive decision-making and strategic planning.
The MyKeen platform also features an AI-driven interactive assistant which can understand complex requests, provide financial advice, and draft communications on behalf of accountants. It can also recommend actions based on the analysis of financial data. This level of interaction and support from an AI assistant is unparalleled in current accounting software offerings, setting MyKeen apart as a leader in innovative user engagement.
Through the proof-of-concept, Keen intends to demonstrate the technical feasibility of these innovations, assess their integration with existing software, and evaluate their impact on user experience and client service quality. This project will validate the integration of machine learning and artificial intelligence within the platform to enhance financial predictions and client communication, with the goal of delivering a competitive product for the accounting industry.
This provincial investment helps leverage a $395,000 investment from the applicant.
Quotes
“Newfoundland and Labrador has shown itself to be a leader in financial technology. Our support for this project will contribute to job creation and skill development in high-tech fields, enhancing local employment and technical expertise. We are pleased to support Keen as it works to improve its product.”
Honourable Andrew Parsons, KC
Minister of Industry, Energy and Technology
“We’re thrilled to receive support from the Government of Newfoundland and Labrador. The MyKeen Financial Platform empowers accounting firms to leverage AI, providing SME clients with predictive insights and intelligent automation to make data-driven decisions confidently. This investment from the Department of Industry, Energy, and Technology accelerates our product development. We are incredibly excited to help transform accounting with our financial technology and contribute to the growth of our local ecosystem.”
James Lanning
CEO, Keen
-30-
Learn more
Business Growth Program
Follow us on X @IET_GovNL
Like Industry, Energy and Technology NL on Facebook