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
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.”
Source: BusinessWire