Financial institutions are drowning in the greatest source of information they have, unstructured data: emails, PDFs, contracts, journals, statements, invoices, memos, and more. All this data has remained unexploited because is too expensive and difficult to access and analyze. Most organizations today have massive databases of information and little to no efficient way of finding and using the insights they need. This results in missing opportunities for financial institutions to minimize operating expenses, reduce the risk of human errors, and gain visibility into processes.
SparkCognition has developed DeepNLP, a solution that automates workflows of unstructured data within organizations so humans can focus on high-value business decisions. DeepNLP uses natural language processing (NLP) and advanced, proprietary machine learning techniques to automate the retrieval of information, classification of documents, and content analytics. DeepNLP enables the automation of transactions that require access to a wide range of documents reducing the number of human touches and the risk of error to support compliance. DeepNLP integrates into existing workflows to enable organizations to better respond to changes in their business and quickly get answers to specific queries or analytics that support decision making.