Intain Acquires IN-D.ai, Strengthens its Intelligent Digital Solutions for Structured Finance
2024年5月6日 - 11:10PM
ビジネスワイヤ(英語)
In a homecoming of sorts, IN-D.ai, which originated from
Intain’s AI Lab in 2019, becomes a part of Intain again, to
automate processing of unstructured documents and data in
asset-backed finance
Intain Inc., a pioneer in digital structured finance, has
announced today the acquisition of IN-D.ai, a company specializing
in the transformation of unstructured documents and data into
actionable insights.IN-D.ai, headquartered in Singapore, with a
development team in India, started in 2019 with Intain’s then AI
Lab forming its core.
As an independent venture, over the last five years, IN-D.ai
expanded its reach beyond its initial focus, collaborating with
prominent banks, insurers, and fund managers to automate document
processing, reducing cost and operational risks. Its technology has
been used in diverse projects including zero-touch partner
onboarding for a leading ride-hailing service and a pilot with the
Government of India to enhance the accessibility of consumer
dispute cases.
IN-D.ai already significantly contributes to Intain's
Verification Agent module, where its technology supports the
verification and certification of loan documents to improve
efficiency and accuracy. This technology recently facilitated the
expedited review and certification of a 5,000-loan pool, comprising
over 55,000 pages, in less than two hours.
IN-D.ai also powers Intain's "Converse with Data" (Converse)
beta for Structured Finance. This innovative feature allows
investors and asset managers to “think aloud” questions about their
portfolios or specific deals and receive immediate answers.
Converse eliminates the need for complex analytical tools, pivot
tables, and macro-laden Excel spreadsheets, effectively serving as
an around-the-clock analyst directly on a user’s computer. Now all
this capability, and this team, is part of Intain.
“Intain, the name itself, is coined from Intelligent Blockchain.
So, since we founded the company, we have believed that intelligent
and distributed systems will be at the core of digital structured
finance. For us, IN-D.ai is not an acquisition, it is the welcoming
home of our former colleagues who have then been partners for all
these years. It puts us in the best position to serve our clients
who are working with us in building the digital future of
structured finance,” said Siddhartha, Founder and CEO of
Intain.
Hugh Simon, Chairperson of Hamon Investment Group, lead investor
in IN-D.ai, saw this as the logical progression for IN-D.ai. “This
will be a seamless integration between two teams that have been
collaborating over the years. Structured Finance, which is a $13T
industry in the U.S., will have access to the best in AI that
IN-D.ai brings through its experience working across all sectors of
financial services and beyond.”
About Intain:
Intain is building the digital infrastructure of future of
structured finance. Intain's platform uses a combination of
blockchain, artificial intelligence, and other digital technologies
to create a collaborative data environment for lenders, issuers,
investors, and other parties involved in asset-backed
transactions.
Intain is dedicated to fostering diversity within the fintech
industry, with over half of its workforce being women. The company
is headquartered in New York City and maintains additional offices
in Chennai and Pune, India. Intain is backed by prominent investors
such as JAM FINTOP, Avalanche's Blizzard, Intervest, Hamon
Investment Group, and Blockseed Ventures. For more information
visit www.intainft.com or follow Intain on LinkedIN.
About IN-D.ai:
IN-D.ai is an artificial intelligence platform that supports
financial institutions in developing smarter, more agile, and
widely distributed operations. Utilizing AI, the platform processes
documents, images, and videos and synthesizes data to automate
critical processes such as due diligence, KYC, operational risk
management, and insurance claims administration.
With offices in Singapore, Chennai, and Pune, IN-D.ai partners
with leading consulting firms, system integrators, and automation
product companies. The company has been recognized as a finalist at
prestigious events such as the India Fintech Awards, AWS ML
Elevate, and the Monetary Authority of Singapore (MAS) AI in Global
Finance Challenge. IN-D.ai has been selected for leading
accelerator programs including EY Foundry and DIFC Fintech
Hive.
For more information visit www.in-d.ai or follow Intain on
LinkedIN.
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version on businesswire.com: https://www.businesswire.com/news/home/20240503551554/en/
Steve Odesser steven.odesser@intainft.com