Automate information extraction from financial documents with AI
Processing large amounts of Data & documents for financial reporting remains an operational challenge. Financial documents contain key information for companies, and retrieve information is time-consuming. Asset managers need to make sure information in their legal documents are reliable and complete. Fortia created an Intelligent Document Processing tool to support financial firms in their information gathering.
The financial Doc Reader is trained to extract information from financial documents:
From these documents, the tool is able to detect and retrieve fund characteristics as investment objectives, investment rules, benchmarks, third parties, cut-off dates, types of costs, fund structure…
With the Financial Doc Reader, 90% of manual input is avoided. It allows financial firms to dedicate their work on other important task.
The Financial Doc Reader uses strong artificial intelligence algorithms which allow a Data accuracy up to 99%.
After extracting the data, the tool allows for automatic reconciliation between several data sources, e.g. A prospectus and a KIID from the same fund, two versions of the same document or, a document and the data in a product repository.
The Financial Doc Reader allows companies to release pressure on the workforce and make incredible time saving. Experts can use this time to focus on other important tasks where their value is essential.
Information retrieved with this intelligent document processing tool are accurate and enables financial firms to higher their compliance level.
80% reduction in manual work.
Operational Analytics captured throughout process
More capacity on higher value activities