Gartner mentions Altilia in its 1st market guide on Intelligent Document Processing

Altilia recognized at the Milan “Salone dei Pagamenti” event for AI innovations in ESG and Credit Management.

By altilia on November 29, 2022

From November 23rd to 25th 2022, Altilia participated in the “Salone dei Pagamenti” event in Milan. Promoted by ABI (Italian Banking Association) in collaboration with Banca d’Italia and Fintech Milano Hub. The event is a national reference point in the payments sector and for innovation in the Italian banking industry.

During the event, the project developed by Altilia, was recognized by Banca d’Italia among the 10 best innovative projects selected as part of the “Call for Proposals 2021” for innovative applications of AI technologies in banking.

The project, made collaboration with the ItaliaFintech Association, the Chiomenti law firm (as legal partner) and with the participation of Prometeia (as partner/user ), is an AI application in the field of ESG investments, aimed at facilitating banks in the process of corporate sustainability risk assessment and corporate sustainability goals assessment.

In particular, the project aims at automating the information gathering processes from different sources and documents (such as financial statements, sustainability reports and corporate websites) and, leveraging advanced Document Understanding and Natural Language Processing (NLP), provide automatic text comprehension and classification to create highly detailed ESG company profiles. These profiles can then be used by banks to monitor the evolution of ESG goals and risks over time and integrate the information to enhance their lending application procedures.

With the Altilia Intelligent Automation platform, users can directly train AI models to recognize the target data of interest. Using a no-code interface users can create a set of annotated document examples, and, with a sufficient number of examples, the algorithm becomes autonomous in recognizing the target data. The final results can be either stored in the platform or exported to be leveraged by other applications like CRM systems or customer’s databases. Thanks to this connectivity it is possible to automate the creation of detailed ESG report and risk scores.

With the proposed solutions banks can obtain up to an 80% reduction of the manual work required for ESG profiling, uplifting employees from all the repetitive tasks related to document reading and information extraction, and accelerating ESG profile generation speed by up to 10 times. In addition, the resulting profiles are more detailed and complete, with an accuracy score (F-score) of 95%.

At the closure of the “Salone dei Pagamenti” event, the project has been presented to Bank of Italy’s Governor Ignazio Visco, who directly met the awarded teams, and congratulated with Massimo Ruffolo, founder and CEO and of Altilia.

If you want to learn more, here you can find more information about AI applications for ESG in credit management.

By altilia on November 29, 2022

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