From Manual to Mindful: AI-Powered mindox Analyses Financial Documents Seamlesslyby Fintech News Philippines February 6, 2024
In the current business landscape, where efficiency is increasingly important, many companies, especially in the financial sector, struggle with the demands of manual data entry, often leading to time and resource constraints.
AND Global, a fintech company based in Singapore, has recently introduced a new intelligent document processing platform called mindox.
This AI-powered platform aims to address challenges in financial document processing. Initially launched in the Philippines, mindox has plans for global expansion.
How does the mindox platform work
mindox is built around three primary functions: data extraction, data processing, and data analysis. This system is designed to automate the extraction of information from documents, process it accurately, and then analyse the data.
mindox utilises AI-OCR and Natural Language Processing (NLP) technologies. These features aim to enhance document workflows by automating data extraction from various document formats, thereby reducing manual input and processing time.
The platform also focuses on data accuracy, integrating a Human-in-the-Loop (HITL) system to ensure data integrity.
Additionally, it offers analytics capabilities for transforming data into strategic insights and integrates smoothly with existing CRM, ERP, and Core Banking Systems. The platform is designed to be scalable globally, catering to the needs of the international financial market.
Advancing Document Processing for the Future
The platform is tailored for financial institutions, offering the ability to easily extract and interpret information from reports, texts, forms, and financial documents.
Specifically, mindox enhances loan application processes by significantly reducing processing times through automation. This contributes to streamlined loan applications, a key aspect for financial institutions.
Moreover, the platform incorporates machine learning, enabling continuous improvement and error elimination over time. This feature enhances both accuracy and efficiency of the system.
It supports diverse formats and complex documents, streamlining processes such as loan application processing.
The system also incorporates machine learning to enhance accuracy and efficiency over time and ensures robust API support for interoperability with existing banking systems and third-party applications.
mindox adheres to ISO27001 and GDPR standards, emphasising data security and regulatory compliance.
For organisations interested in upgrading their document processing systems, mindox presents an opportunity to improve efficiency, accuracy, and data utilisation.
Reach out for a demo of mindox or visit the website to discover how your organisation can revamp your document processing here.