Persistent’s Trade Finance solution wins AIconics award for BEST APPLICATION OF AI IN FINANCIAL SERVICES

In the recently announced 2018 AIconics awards, Persistent’s accelerator solution for Named Entity Recognition, Classification and Intelligent decision-making won the AIconics award in ‘Best AI Solution for Finance’ category.

About the solution

This solution helps to improve the productivity of operations team by automating information extraction and validation for typical Trade Finance documents. Artificial Intelligence driven solution that works across any document type, irrespective of its shape, size or format.

Key Benefits:

• “Systems Learning” based on actions from the Operations team
• Faster go-live timelines, weeks vs. months
• Average 40% productivity in turn around times identifying entities for Sanction Screening
• Improved coverage of about 95%+ with Zero manual intervention

About AIconics Awards

The AIconics are the world-renowned awards celebrating the drive, innovation and hard work in the international Artificial Intelligence for Business Community. The awards are organized and judged by AI Business alongside a panel of world-class independent experts and attract over 300 registrations from across the globe.