(Spin Digit Editorial):- Mumbai, Maharashtra Mar 4, 2021 (Issuewire.com) – Intellimation Market Services Limited (iMarkServ) a Cognitive Fintech company using Natural language processing and Machine learning technology for the BFSI sector, deployed its product Vector for T0 (Affirmations) and Collateral Management in Nomura’s location in Powai.
Vector contextually interprets unstructured information in the form of emails, attachments, formats including word, pdf, rtf, txt, images, etc., extracting relevant information and converting it into a structured and reliable form. This converted data is further normalized for various fields like date formats, currency, counterparty names, etc., and then reconciled with the existing Risk/trading/ Back office systems.
Of this recent achievement, iMarkServ CEO Har Pulak Bahadur said “Collaborating with Nomura and delivering the solution with 90% accuracy, where Vector processed 90%+ emails without any human intervention is a testament to our effort over the last few years. Our team along with Nomura has worked exceptionally hard to accomplish this within a year. Following the success, we are already talking to multiple customers following this success and are confident that our engagement with Nomura will set an example for other institutions to replicate and achieve their transformational objectives by partnering with upcoming AI-based startups”
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Mr. Ranga Rajan (Head of Global Middle Office Nomura Services India) whose team has spearheaded this initiative said “Nomura has been working with startups for some time now and it’s been a pleasure partnering with iMarkServ. They have automated one of the most difficult processes within the IBMO space and delivered on our requirements which were quite stringent. We see this relationship growing over the next few years as their technology and domain knowledge combined together make a compatible partnership”
iMarkServ within Nomura delivered 90% plus accuracy, with their accuracy definition being that if there were 100 documents from which 10 fields each were to be extracted from a document/email, etc. then all 10 were to be extracted from that document then only it was considered accurate i.e. 90 documents had all 10 fields extracted, giving 90% true efficiency to clients.
About iMarkServ: Intellimation Market Services Ltd (iMarkServ) is a Cognitive Fintech Company, headquartered in Mumbai, India, with branches in Pune, Bangalore, and London. They have been working in the BFSI sector and have large investment banks, asset management, and insurance brokers as their clients. Their proprietary product Vector is used to contextually interpret and transform unstructured information/data and automate related downstream processes like reconciliation, exception handling, etc. to deliver end-to-end STP. The company also service and supports approximately $100bn of assets through their AI-driven research and middle office services. For further information visit www.imarkserv.com or [email protected]
Intellimation Market Services Limited
Eureka Towers, Building A, 9th Floor, Chincholi Bunder Road, Malad West
Source :Intellimation Market Services Limited
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