Cloud-native, end-to-end IDP platform recognized for delivering innovations that help financial institutions overcome key hurdles in document management
KnowledgeLake, a leading provider of intelligent document processing (IDP) solutions for financial institutions, announced that the company is featured in Aite-Novarica Group‘s latest Commercial Banking Fintech Spotlight: Q3 2022.
The Aite-Novarica Commercial Banking FinTech Spotlight is a quarterly series of industry reports featuring vendors that provide innovative FinTech solutions to the commercial banking industry.
The spotlight series aims to provide commercial banks insight into emerging FinTech solutions that offer a unique selling point and innovative approach to solving common banking challenges.
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“Digital transformation in commercial banking has many dimensions and is evolving at an unprecedented pace,” said Erika Baumann, Director of Commercial Banking & Payments for Aite-Novarica Group. “We publish the FinTech Spotlight to help financial institutions assess and understand how the landscape is evolving in areas such as AI, machine learning, automation, and cloud technologies and to help identify potential partnerships. The KnowledgeLake platform applies technologies important, and often overlooked, to intelligent document and information processing, a core operational function for any commercial bank.”
KnowledgeLake’s cloud-native, end-to-end platform earned recognition in the spotlight for offering “all the key components of a modern, cloud-based IDP solution, including capture, self-teaching data extraction powered by AI and machine learning, process automation, and unlimited storage.”
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According to the report, KnowledgeLake has brought key innovations to the market that can help traditional banks and financial institutions provide a better user experience, remove redundancies in workflows, and meet regulatory and compliance needs by automating document-intensive processes like account opening and loan processing.
“Aite-Novarica is an authority in the financial services industry, and their FinTech Spotlight provides accurate, in-depth clarity into what’s happening in FinTech. This is an exciting recognition of the unique value KnowledgeLake delivers to banking and financial institutions. We look forward to helping more financial institutions modernize their processes as we continue to expand our presence in the industry,” said Ron Cameron, CEO of KnowledgeLake.
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