After INNOVA, a range of IA applications for the financial industry, and 2OS, a no-code offer allowing the creation of business applications without any IT development, Fortia unveils its new solution: Financial Doc Reader. It offers the ability to extract raw and textual data with one of the most reliable recovery rates on the market, averaging between 95% and 100%.
As data volumes continue to increase and regulatory needs become more and more pressing, the automation of data recovery processes, most often done by hand, is becoming a necessity. But this automation only makes sense if it is fully realized. A partial recovery rate, around 75% or 80%, would make actions that are already time-consuming more time-consuming. It would indeed be necessary to redo everything manually to know what information has been recovered and what has been forgotten. This is why Fortia trains its algorithms to reach a recovery rate of 95% after only one week and then accompanies its customers to get the last 5% remaining.
10 years of expertise serving AI and no-code
With an initial fundraising of €5 million as part of a Series A carried out in 2021, the French Regtech intends to continue its international deployment and the diversification of its offers. A decompartmentalization/development that takes place both on customers and on business sectors since Deeptech, originally a specialist in the financial industry, shares its unique AI algorithms on the market with public players such as the RATP but also to companies in the health, consulting and luxury sectors.
Commenting on this innovation, Michael Priem, CEO of Fortia, said: “While our basic DNA is market finance, asset management, insurance and everything related to compliance and internal control, we have diversified our offer because the power of our technology allows us to do so. A balancing act that has allowed us not to deny what we have been recognized for over 10 years, both on the regulatory aspect and on recovery, while remaining open to new practical cases. »
Basic research at the service of global emulation
Fortia is also positioning itself on promising subjects such as ESG, in particular with the organization of competitions and international workshops. Events to share sectoral advances to understand new approaches and techniques to always be at the forefront. New techniques with significant advances around the extraction of visual data and the detection of images after having carried out Homeric work on textual data.
Juyeon Kang, Director of Data science at Fortia says: “ESG will be particularly important in the coming years. The daily progress that we are making, in particular on the extraction of visual data, will allow many companies to know where they stand with respect to their commitments and, if necessary, to bring themselves into compliance if not is not the case. »