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:
News:
Arcplace reports ongoing success IT service provider Arcplace announced steady organic growth of over 10% per year for the last ten years. According to the company, it is the new technical solutions that help customers digitize document processes that continue to drive Arcplace forward. Robbert Spierings, CEO and founder of Arcplace, explained: “At Arcplace, customer satisfaction clearly comes before profit. Introducing solutions with the latest technologies that function optimally for our customers can sometimes be challenging, but we see this as our job, so we stay focused.” Arcplace offers solutions for all sectors and industries, but for several years has also been focusing on the real estate industry and the challenges that financial service providers face. With the recently launched Know Your Customer (KYC) services, financial service providers can now automate their KYC processes. Using AI and NLP, the manual effort required to capture and verify compliance-related information is reduced and accuracy is increased.
WorkFusion appoints new VP of Financial Crime Intelligent automation solutions provider WorkFusion announced that Arthur Mueller has joined the company as its Vice President of Financial Crime. Mueller will bolster WorkFusion’s AI digital workforce bench of FinCrime experts. Andy Bethurum, WorkFusion’s Global Head of Banking and Financial Services, commented: “We couldn’t have asked for a more qualified anti-financial crime expert who truly understands our customers’ challenges to join our team. Arthur Mueller understands regulators’ expectations, including model risk management in the financial crime space, and how to manage people, processes, and technology across a BSA/AML program. He is a great addition to our stellar FinCrime subject matter experts.”
AYR with latest breakthroughs in its Intelligent Document Simulator IDP vendor AYR announced that it has launched a new version of its patent-pending Intelligent Document Simulator (IDS). With the latest breakthroughs, AYR is solving two significant challenges: the scarcity of training data for customer use cases and the ever-evolving formats and layouts of business documents. IDS generates synthetic data that mimics the appearance and content of real-world business documents. This gives companies the tools they need to overcome the hurdle of lack of training data and realize the full potential of IDP.
Rossum launches education and training program IDP vendor Rossum has announced that it has launched the Rossum Academy. With this, the IDP provider aims not only to promote training in document data extraction, but also to demonstrate best practices for document processing through real-world examples, leading to better workflow insights. Marek Paris, Head of Product Development at Rossum, said. “The Rossum Academy is a vital channel in helping our user community increase its expertise and knowledge while staying current on our latest AI development and product innovations.”
Interview:
How does IDP convert paper documents into digital assets? Read this interview with Dr. Tianhao Wu, co-founder and CTO of IDP vendor AYR to get answers to the following topics: How organizations are able to improve workflows and make work simple today, why automation of paper-based documents is important for the future of work, how AI can transform paper documents into digital assets, and what the benefits of AI-driven document conversion are.
Upcoming webinar:
FinTech is revolutionizing banking and financial services Join this discussion on February 28, 2023, to get first-hand insights from experienced finance and banking executives on what technology is doing to help their companies succeed and how AI, ML, and IDP can improve operations.
Hackathon:
Participate in the Botminds hackathon and help shape the future of AI IDP provider Botminds AI is hosting the first Hackathon 2023 and you may register until February 24. Whether you are an individual, a team, or an organization, you have the opportunity to gain new skills and hands-on experience with Document AI technologies, improve your problem-solving skills, and develop your teamwork.
See you next week!
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