Mumbai, 17 May 2024 – Niyogin Fintech Ltd., a leading fintech company focused on MSMEs, has successfully acquired Superscan, an AI-powered document imaging, automation, and fraud detection platform from Orbo.ai. This acquisition underscores Niyogin’s commitment to leading the AI-first neo-banking infrastructure space and driving digital transformation with advanced technologies.
This strategic acquisition aligns with Niyogin’s vision to reach unbanked populations, digitize fragmented value chains, and integrate customer-centric automation into the global BFSI market. By bringing Superscan into its portfolio, Niyogin is poised for innovation-driven growth.
Superscan’s core technologies include intelligent document processing, automation agents, and fraud detection tools that enhance efficiency and accuracy in traditionally manual processes. Its AI-driven Optical Character Recognition (OCR) technology operates directly on devices, eliminating the need for heavy-duty GPUs, and achieves over 90% accuracy in data extraction. Features such as On-Device Spoof Proofing for facial recognition and AI Object Removal automate repetitive tasks, significantly reducing document processing costs by nearly 80%. Superscan’s edge computing capabilities position it as a leader in on-device AI solutions.
“We are excited to advance our partnership with Superscan, a fintech platform by Orbo.ai,” said Tashwinder Singh, MD & CEO of Niyogin. “Superscan will streamline our internal processes and enable us to develop AI-based tools for our partners, facilitating faster onboarding, seamless document verification, and robust fraud protection under an AI-powered umbrella.”
Manoj Shinde, CEO and Founder of Orbo.ai, added, “Integrating Superscan with an established player like Niyogin gives us the confidence to realize the full potential of our technology solutions.”
To facilitate the acquisition, Niyogin has established a wholly owned subsidiary named “Niyogin AI Private,” which has been approved by the Central Registration Centre and Ministry of Corporate Affairs, demonstrating Niyogin’s dedication to digital transformation.
For more information, visit www.niyogin.ai
