Impactsure conferred with the ‘Most Innovative Use of AI/ML: Most Impactful Project’ at the IBSi Global FinTech Innovation Awards 2022

By Leandra Monteiro

Impactsure Technologies was conferred the ‘Most Innovative Use of AI/ML: Most Impactful Project’ at the 4^th edition of the IBSi Global FinTech Innovation Awards. The Awards held on December 16, 2022, had over 151 nominations across 94 banks from 47 countries across the globe recognising the most innovative and impact-generating projects across 30 categories.

“Impactsure’s SureXtract AI engine has helped streamline unstructured data by analysing thousands of documents,” said, Nikhil Gokhale, Head of Research at IBS Intelligence. He added, “The easily trainable AI engine with the human-in-the-loop capability ensures that the system is continuously 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 category, ‘Most Innovative Use of AI/ML: Most Impactful Project’.”

Impactsure has deployed its SureXtract solution at a leading globally renowned financial Institution to extract corporate financial data from its data repository.

Mr. Dharmarajan Sankara Subrahmanian, Founder Director & CEO, Impactsure, said, “The financial institution selected Impactsure after a rigorous selection process. Impactsure leveraged its SureXtract solution to extract 60+ different data points from unstructured Annual Reports and Financial Statement in PDF format. The solution is scalable to support high volumes during earnings seasons, when many companies report their financials in short time window. SureXtract leverages Artificial Intelligence and Machine Learning Technologies”.

With a specialised focus on the BFSI sector, Impactsure builds products for complex, document and data-intensive tasks which 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 Responsive Engine (SURE).

Impactsure’s microservices (Suretons) are functional blocks that can be combined to solve specific needs that clients want to address. SureTons are the building blocks of many readily available solutions. With simple configuration changes these can be deployed quickly. These SureTons can be combined to form new solutions required. SureTons are modular, flexible, agile and are easy to deploy. At present, there are more than 450 technical and functional SureTons that have been used to develop over 25 specialised solutions for the BFSI sector.

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

The company was recently recognised as the Star Performance (new entrant) of the Transaction Banking (Trade Finance) category in the coveted Annual IBSi Annual Sales League Table 2022.  Impactsure also bagged the Best Trade Finance Implementation Award for the Best Adoption of Tools & Governance, at the IBS Intelligence Global FinTech Innovation Awards 2021.