SGX Group selects India’s Impactsure for data extraction and analysis

Mumbai (Maharashtra) [India], December 20, 2022: Singapore Exchange (SGX Group), Asia’s most international, multi-asset exchange, has selected India’s AI/ML-enabled document analytics company Impactsure Technologies’ SaaS platform to extract structured corporate financial data from its data repository.  Impactsure has deployed its SureXtract solution at SGX, which is powered by the SURE Platform (Secured Unified Responsive Engine). SURE is a patent pending AI/ML + NLP solution that derives insights from structured and unstructured data in printed documents, contracts, scanned images, pictures, handwritten notes, IoT sensor data and many other applications. As a listing venue for international companies across diverse sectors and with an investment platform that is used by global investors, SGX provides investors access to structured data from financial statements and annual reports that are submitted by listed companies. The exchange extracts such key information and data from unstructured PDF documents.     “Impactsure’s SureXtract is a capable data extraction platform that supports SGX in extracting financial statement data of SGX-listed companies from unstructured PDFs efficiently and reliably. Impactsure’s team was also impressive in rolling out their solution for us in a very short time,” said Mr. Ng Kin Yee, Managing Director and Head of Data, Connectivity & Indices, SGX Group. Mr. Dharmarajan Sankara Subrahmanian, Founder Director & CEO, Impactsure, said, “SGX selected Impactsure after a thorough RFP process and evaluation.  Impactsure leveraged its SureXtract solution to extract 60+ different data points from unstructured Annual Reports and Financial Statement in PDF format. The solution is scalable to support high volumes during earnings seasons, when many companies report their financials in short time window. SureXtract leverages Artificial Intelligence and Machine Learning Technologies”.

With a specialised focus on the BFSI sector, Impactsure builds products for complex, document and data intensive tasks which require significant human effort and are prone to error.  Its trade finance solutions enable banks, financial institutions, and corporations with advanced intelligent data analytics and document processing, using artificial intelligence (AI) and machine learning (ML), for critical processing and compliance-related requirements that improve business outcomes and customer experience, increase operational efficiency and reduce compliance risks. The addressable trade finance solutions market is estimated at $3 billion, and the intelligent document processing as a market is projected to reach $4.8 billion in 2022.

Impactsure has entered into several strategic alliances and partnerships with established players Google, Deloitte, Microsoft and Amazon and others, to expand its reach and impact. The company has been expanding its global footprints and has also increased its human capital by tripling its headcount in the last one year.The company was recently recognised as the Star Performance (new entrant) of the Transaction Banking(Trade Finance) category in the coveted Annual IBSi Annual Sales League Table 2022.  Impactsure also bagged the Best Trade Finance Implementation Award for the Best Adoption of Tools & Governance, at the IBS Intelligence Global FinTech Innovation Awards 2021.

Most Popular

More from Author

Read Now

Youngsters are Taking Charge of their Financial Future through Real Estate

Gurugram, Haryana, India | 3rd February 2023: Saurabh Thareja, Director of  Urban Plus Infra build says we cannot deny the fact that investing in real estate is a great way to build wealth. Getting started with real estate investing at a young age is a great idea for several...

Real Estate Players Hails Budget 2023: Lauds Government’s Move to Boost Infrastructure

New Delhi, Delhi, India | 3rd February 2023: India's real estate fraternity has reacted positively to the Union Budget 2023 presented by the Finance Minister on February 1st, 2023. The Union Budget for this year was primarily aimed at boosting the Indian economy and revitalising it. The real estate...

Sphot’23 Concludes with Exciting Possibilities for Real-World AI Applications

Sphot'23 concluded with the launch of Pravid, Saarthi's cutting-edge Communication AI platform.

Union Budget 2023-24: What It Means for the Future of the Automotive Sector?

Union Budget 2023-24: A Post-Budget Perspective on the Indian Automotive Sector.

Business Leaders Give Thumbs Up to Union Budget 2023’s Growth-Focused Provisions

Understand the impact of the Union Budget 2023-24 on the Indian economy through the eyes of business leaders and why they are optimistic about its potential.

SBICAPS opens new office in Bengaluru, to focus on infrastructure, defence and start-ups

BENGALURU, India | 1st February 2023: SBI Capital Markets Limited (SBICAPS), a wholly owned subsidiary and investment banking arm of State Bank of India (SBI) on Monday announced the opening of its office in Bengaluru. Inaugurated by Shri Dinesh Khara, Chairman, SBI, in the presence of Shri Swaminathan J, Managing Director (CB...

Vedanta Aluminium Raises USD 250 Mn in Sustainability Linked Loans

New Delhi, Delhi, India | 1st February 2023: Vedanta Aluminium, India’s largest producer of aluminium, has raised USD 250 million through Sustainability Linked Loans (SLL) from leading international banks, for financing its capex initiatives and reducing carbon footprint. The loans were granted on the basis of specific performance parameters...

Dr. Stephen Kahane Joins Suki’s Board of Directors to Elevate Voice AI in Healthcare

Voice AI Technology for Healthcare Gets a Boost with Dr. Kahane on Suki's Board.