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

By Leandra Monteiro

Impactsure Technologies was awarded “Most innovative use of AI/ML: Most impactful project’ on 4^th edition of the IBSi Global FinTech Innovation Awards. Held on 16 December 2022, the awards had over 151 nominations across 94 banks from 47 countries worldwide, and recognized the most innovative and impactful projects in 30 categories.

“Impactsure’s SureXtract AI engine has helped streamline unstructured data by analyzing thousands of documents,” saidNikhil Gokhale, Head of Research at IBS Intelligence. He added, “The easily trainable AI engine with human-in-the-loop functionality ensures that the system is continuously learning and has resulted in structured data that is ready to be published online. On behalf of IBSi, I congratulate 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 recognized financial institution to extract corporate financial data from its data warehouse.

Mr. Dharmarajan Sankara Subrahmanian, Founder Director and CEO, Impactsure, so, “The financial institution chose Impactsure after a rigorous selection process. Impactsure leveraged its SureXtract solution to extract 60+ different data points from unstructured annual reports and 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 utilizes artificial intelligence and machine learning technologies”.

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

Impactsure’s SureSuite includes 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 required solutions. SureTons are modular, flexible, agile and easy to deploy. Currently, there are more than 450 technical and functional SureTons that have been used to develop over 25 specialized solutions for the BFSI sector.

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

The company was recently recognized as Stellar performance (new entrant) of Transaction bank (Trade finance) category in the coveted Annual IBSi annual sales league table 2022. Impactsure also brought along Best trade finance implementation Price for the best use of tools and management, at the IBS Intelligence Global FinTech Innovation Awards 2021.