The first day of the fintus partnertalk was dominated by informative keynotes. In his talk “Mind your neighbors”, Manuel Kirchberger, CGO of finted, showed the possibilities and visions of modern and intelligent document processing. He also introduced the young German joint venture finted, which specializes in intelligent document processing for banks.
Manuel Kirchberger’s presentation was characterized by many examples of how classic text recognition programs work and function. Using the example of a news article, he showed “that traditional information extraction delivers very good results”, but is far from being able to meet the demands of banks and financial service providers.
The reason: “Professional document processing has to recognize more than images and continuous text”. With the mass of different contracts, documents and proofs, it is important that the software recognizes and correctly assigns all relevant information so that reliable further processing is possible. Previous solutions, especially those in German, do not reliably offer this service.
finted wants to fill this gap and make manual work on documents obsolete. To this end, “a wide variety of document types are fed into the software” and their recognition is thus learned. The special feature of finted is that the intelligent software learns to “understand information from the semantic and visual context” and recognizes so-called anchor points, such as addresses, customer data or bank details.
In order to reliably integrate this into the practice of banks and financial service providers, finted combines Konfuzio’s artificial intelligence with the bank-specific rule sets and industry experience of fintus. In this way, the software is said to be able to perform entire processes automatically – from the selection and evaluation of documents, to making the business decision. A real gamechanger for the financial industry.