In this section, we cover news, insights and trivia about Intelligent Document Processing (IDP), share interesting articles, podcasts, reports and more.
What we cover in this week’s recap:
Hyperscience achieves SOC 2 certification IDP vendor Hyperscience announced that it has received SOC 2 certification for its enterprise AI software infrastructure platform. SOC 2 certification confirms Hyperscience’s best practices in the areas of security, availability, integrity, and confidentiality of data processing and demonstrates its ability to manage and secure data while ensuring data privacy and risk mitigation for its customers. Tony Lee, Chief Technology Officer of Hyperscience, commented: “Protection of our clients’ information is of the utmost importance to us. Not only do we follow certified best practices to the letter, but we also ensure data at rest and in transit is protected through industry-standard encryption, as well as identity and access management to better assess current and future risk to our infrastructure.” The audit was conducted by Schellman, a provider of cybersecurity assessment services.
qBotica ranks 503rd in Inc. 5000 list of fastest-growing companies in America IDP vendor qBotica announced that it has been ranked on the prestigious Inc. 5000 list of fastest-growing companies in America for the second year in a row. qBotica secured rank #503 in the 2023 edition (with a three-year revenue growth of 1,168%), after being ranked #1519 in the 2022 list. Mahesh Vinayagam, CEO and Founder of qBotica, commented: “We are thrilled and honored to be recognized on the Inc. 5000 list for the second year in a row. This achievement is a reflection of the dedication and hard work put forth by our talented team, as well as the trust and support of our valued clients. Our commitment to delivering innovative automation and AI solutions and exceptional service continues to drive our growth, and we are excited to build on this momentum in the years to come.” Back in May, the IDP vendor has already been recognized as one of the 100 fastest growing Asian American companies by the US Pan Asian American Chamber of Commerce Education Foundation.
SS&C Blue Prism transforms Riyad Bank’s operations Intelligent automation solutions provider SS&C Blue Prism announced that Riyad Bank, one of the largest financial institutions in the Kingdom of Saudi Arabia and the Middle East, has successfully migrated its automation program to SS&C Blue Prism’s intelligent automation platform. Since the migration six months ago, SS&C Blue Prism has automated 200 processes and helped to fundamentally transform Riyad Bank’s operations. Among the biggest improvements thus far, Riyad Bank is benefiting from intelligent automation of daily transaction handling for bank tellers, significantly reducing processing time.
AIRA launches version 2.0 with three new features IDP provider AIRA has announced the launch of AIRA 2.0, which introduces three new features: First, vision-based segmentation uses visual cues to identify different sections within a document, adapting its processing methods accordingly, ensuring precision and context awareness regardless of the document’s format. Second, new AI models for text extraction are trained to understand the nuances of language, enabling them to accurately extract relevant information from complex documents. And third, improved OCR ensures that noisy documents are transcribed correctly.
What is the impact of AI-powered solutions in the banking sector? Register for this upcoming fireside chat on August 30, 2023 with IDP vendor JIFFY.ai to learn about the urgency of adopting AI in banking, the key use cases where AI is having the greatest impact, and how financial institutions can begin their AI journey today.
See you next week!
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