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SimplyData SIGNED

Unlocking unstructured data towards intelligent wotk automation for the banking industry

Total Cost €

0

EC-Contrib. €

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Partnership

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Project "SimplyData" data sheet

The following table provides information about the project.

Coordinator
FUNDAMENTIA BUSINESS CONSULTING SL 

Organization address
address: CALLE MARIA DE MOLINA 54 PLANTA 2
city: MADRID
postcode: 28006
website: n.a.

contact info
title: n.a.
name: n.a.
surname: n.a.
function: n.a.
email: n.a.
telephone: n.a.
fax: n.a.

 Coordinator Country Spain [ES]
 Project website https://www.fundamentia.com
 Total cost 71˙429 €
 EC max contribution 50˙000 € (70%)
 Programme 1. H2020-EU.3. (PRIORITY 'Societal challenges)
2. H2020-EU.2.3. (INDUSTRIAL LEADERSHIP - Innovation In SMEs)
3. H2020-EU.2.1. (INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies)
 Code Call H2020-SMEInst-2018-2020-1
 Funding Scheme SME-1
 Starting year 2019
 Duration (year-month-day) from 2019-05-01   to  2019-08-31

 Partnership

Take a look of project's partnership.

# participants  country  role  EC contrib. [€] 
1    FUNDAMENTIA BUSINESS CONSULTING SL ES (MADRID) coordinator 50˙000.00

Map

 Project objective

Competition in the banking industry has intensified enormously in recent years, a trend that can be observed particularly in the fragmented European banking market. Over the last several years, financial institutions have utilized Business Process Management / Robotic Process Automation solutions to improve workflow and standardize processes. Intelligent machines are driving technology development across all financial institutions. These solutions provide robust benefits when applied to disparate systems and databases but do not yet exploit the value trapped in UNSTRUCTURED DATA. True straight-through processing remains an elusive goal as much work still remains outside the BPM/RPA’s reach. The ability to transform unstructured data into structured data will have a hugely positive bottom line impact. Fundamentia is a research-led artificial intelligence company. Our solution, SimplÿData is built on top of our AI core: SimplÿData automatically identify any type of document and classify it accordingly to the taxonomy agreed with the client. Our success ratios in document identification and classification exceed 99%. Then, SimplÿData extracts relevant data from any type of document. Our data extraction success ratios exceed 95%. SimplÿData collaborates with our clients and their integrators, complementing the capabilities of the RPAs (Robotic Process Automation), facilitating End-to-End process automation Fundamentia is therefore bridging the gap between unstructured data and RPAs. We have piloted our technology with some of the most respected banking names such as Banco Santander achieved accuracy rates >95%, drastically reducing total operational times towards improving the operational efficiency of banks.

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The information about "SIMPLYDATA" are provided by the European Opendata Portal: CORDIS opendata.

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