Most Impactful Project’ at the IBSi Global FinTech Innovation Awards 2022

By Leandra Monteiro

Today

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  • Impact Sure Technologies
  • India

sure impact sure impact Technologies was conferred the ‘Most innovative use of AI/ML: Project with the greatest impact on the 4the edition of the IBSi Global FinTech Innovation Awards. The awards, held on December 16, 2022, had more than 151 nominations from 94 banks in 47 countries around the world and recognized the most innovative and impactful projects in 30 categories.

“Impactsure’s SureXtract AI engine has helped optimize unstructured data by analyzing thousands of documents,” saidNikhil Gokhale, head of research at IBS Intelligence. He added: “The easily trainable AI engine with human capability in the loop ensures that the system is continually learning and has resulted in structured data that is ready to publish online. On behalf of IBSi, I extend my congratulations to Impactsure on their well-deserved win in the ‘Most Innovative Use of AI/ML: Most Impactful Project’ category.”

Impactsure has implemented its SureXtract solution at a leading globally recognized financial institution to extract corporate financial data from its data repository.

Mr. Dharmarajan Sankara Subrahmanian, Founding Director and CEO, Impactsure, said, “The financial entity selected Impactsure after a rigorous selection process. Impactsure leveraged its SureXtract solution to extract more than 60 different data points from annual reports and unstructured financial statements in PDF format. The solution is scalable to support high volumes during earnings seasons, when many companies report their financials in a short period of time. SureXtract leverages artificial intelligence and machine learning technologies.”

With a specialized focus on the BFSI industry, Impactsure creates products for complex, document-intensive, and data-intensive tasks that require significant human effort and are prone to error.

Impactsure’s SureSuite comprises solutions that use advanced AI/ML + NLP technologies to process, classify, and extract structured and unstructured data from documents. At the core of SureSuite is the patent-pending Secure Unified Response Engine (SURE).

Impactsure microservices (Suretons) are functional blocks that can be combined to solve specific needs that customers want to address. SureTons are the building blocks of many readily available solutions. With simple configuration changes, these can be implemented quickly. These SureTons can be combined to form the new required solutions. SureTons are modular, flexible, agile and easy to implement. Today there are over 450 technical and functional SureTons that have been used to develop over 25 specialized solutions for the BFSI industry.

SURE powers modular platforms called SureXtract (data extraction), SureMatch (scrutiny and verification), SureAutomate (intelligent RPA), and SureFlow (process workflows). These are readily available modular platforms that can be used in combination or as stand-alone solutions to augment the capabilities of existing software products used in banks.

The company was recently recognized as the star performance (new participant) of transaction banking (Commercial financing) category in the coveted IBSi Annual Sales Annual League Table 2022. Impactsure also bagged the Best Commercial Financing Implementation award for the best adoption of tools and governance, at the IBS Intelligence Global FinTech Innovation Awards 2021.

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