Impactsure, an Indian frontrunner in digital transformation for banks and financial institutions, has entered into a strategic partnership with France-based Tesselate, a global consulting and technological project management firm specialising in the financial sector. The colaboration is set to enhance decision-making processes in Corporate Banking, Trade and Supply Chain Finance, making them faster, accurate, and compatible with the evolving demands of the industry.
This pivotal collaboration aims to address prevailing challenges in a data-intensive and compliance-driven banking environment. By leveraging on Tesselate's extensive expertise in Corporate Banking and its interoperability solution, hive.t, along with Impactsure's advanced AI/ML (Artificial Intelligence/Machine Learning) and NLP (Natural Language Processing) technologies, the partnership aspires to equip organisations with quick and proficient operational insights.
According to the World Trade Organisation, 80-90% of World Trade relies on Trade Credit, Insurance, and Guarantees. Current operational practices often involve rising costs due to excessive paperwork, repeated efforts, wastage of human resources, and error-prone procedures, while also having to meet rigorous regulatory compliance. Tesselate's hive.t simplifies the connectivity of Impactsure's AI/ML + NLP-enabled Secure Unified Responsive Engine (SURE) engine for Commercial Banking and Trade Finance. The SURE engine efficiently extracts, processes, classifies, scrutinises and validates structured and unstructured data from documents in numerous file formats. This helps in making insightful decisions and reduces document processing time from hours to mere minutes.
Casimir Veisblat, Head of Innovation and Corporate Banking Advisory Department at Tesselate, stated, "We believe in the potential of data to shape the future. Our partnership with Impactsure is a significant milestone in our journey to deliver actionable insights."Impactsure's technology enhances digital data processing and improves the quality of available information for decision-making. This partnership opens new vistas for organisations striving to fully leverage the potential of their data.
Dharmarajan Sankara Subrahmanian, Chief Executive Officer of Impactsure Technologies, expressed optimism about the strategic tie-up, saying, "Impactsure's solutions empower banks and financial institutions with secure data extraction, document processing and analytics for faster and more accurate decision-making. We are excited and confident that Tesselate's deep experience and connections in global markets will uncover many use cases where the combined power of our solutions will help banks achieve better business and compliance outcomes while achieving higher transaction volumes and insights."
In a time when the financial services industry is exploring the potency of data-led decision-making, this partnership between Tesselate and Impactsure is poised to shape a fresh chapter in enhancing the Corporate Banking, Trade, and Supply Chain Finance sectors, geared towards more accurate and rapid decision-making.