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Unlocking unstructured data towards intelligent wotk automation for the banking industry

Unlocking unstructured data towards intelligent wotk automation for the banking industry

Objective

Competition in the banking industry has intensified enormously in recent years, a trend that can be observed particularly in the fragmented European banking market.
Over the last several years, financial institutions have utilized Business Process Management / Robotic Process Automation solutions to improve workflow and standardize processes. Intelligent machines are driving technology development across all financial institutions. These solutions provide robust benefits when applied to disparate systems and databases but do not yet exploit the value trapped in UNSTRUCTURED DATA. True straight-through processing remains an elusive goal as much work still remains outside the BPM/RPA’s reach. The ability to transform unstructured data into structured data will have a hugely positive bottom line impact.
Fundamentia is a research-led artificial intelligence company. Our solution, SimplÿData is built on top of our AI core:
SimplÿData automatically identify any type of document and classify it accordingly to the taxonomy agreed with the client. Our success ratios in document identification and classification exceed 99%.
Then, SimplÿData extracts relevant data from any type of document. Our data extraction success ratios exceed 95%.
SimplÿData collaborates with our clients and their integrators, complementing the capabilities of the RPAs (Robotic Process Automation), facilitating End-to-End process automation
Fundamentia is therefore bridging the gap between unstructured data and RPAs. We have piloted our technology with some of the most respected banking names such as Banco Santander achieved accuracy rates >95%, drastically reducing total operational times towards improving the operational efficiency of banks.
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Coordinator

FUNDAMENTIA BUSINESS CONSULTING SL

Address

Calle Maria De Molina 54 Planta 2
28006 Madrid

Spain

Activity type

Private for-profit entities (excluding Higher or Secondary Education Establishments)

EU Contribution

€ 50 000

Project information

Grant agreement ID: 867653

Status

Ongoing project

  • Start date

    1 May 2019

  • End date

    31 August 2019

Funded under:

H2020-EU.3.

H2020-EU.2.3.

H2020-EU.2.1.

  • Overall budget:

    € 71 429

  • EU contribution

    € 50 000

Coordinated by:

FUNDAMENTIA BUSINESS CONSULTING SL

Spain