Through this technology partnership, Parashift and IMTF aim to help banks and financial institutions worldwide accelerate their document and compliance processes with AI and respond flexibly to new regulatory requirements.
Parashift, an Intelligent Document Processing provider, announced September 26 that it has partnered with IMTF, a provider of RegTech solutions for financial firms. The integration of Parashift’s IDP solution with IMTF’s applications enables companies to handle processes such as mortgage applications, mailroom and KYC with minimal effort.
More than ever, banks and financial institutions are faced with the challenge of meeting huge expectations of their customers while not only complying with increasingly stringent regulations, but also being able to make adjustments to new regulatory requirements at any time. With this partnership, Parashift and IMTF are bringing Intelligent Document Processing to banks and financial institutions, automating their document and compliance processes, thereby reducing regulatory risk and improving the customer experience through faster processing times.
Alain Veuve, CEO of Parashift, said: “The partnership between IMTF and Parashift reflects the need of banks and financial institutions for business processes to be fast, smooth, and automated. As the demand for document and compliance process automation increases, partnerships like the one with IMTF help serve this demand and guide business leaders worldwide in their digital transformation.”
Sissach-based Parashift offers an Intelligent Document Processing solution using its proprietary technology, Document Swarm Learning. In this, AI models are trained at the field level and across all use cases, significantly reducing time-to-value.
The full press release can be found here.
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