WorkFusion’s recognition as a Leader in IDP for the fifth consecutive year plus its highest Leader position in the new Unstructured Document Processing PEAK Matrix Assessment highlight the company’s ability to effectively automate complex document processing with its AI Digital Workers
NEW YORK, June 21, 2023 /PRNewswire/ — WorkFusion, a leading provider of AI digital workforce solutions for banking and financial services, today announced that it has, for the fifth consecutive year, been named a Leader in Everest Group’s PEAK Matrix® Assessment for Intelligent Document Processing (IDP) 2023. It has also been recognized as the highest Leader in the Unstructured Document Processing PEAK Matrix® Assessment. The PEAK Matrix Assessment considers vendors based on market impact, vision & capability.
“WorkFusion offers a low-/no-code IDP platform that comes with advanced context understanding capabilities such as text summarization, sentiment analysis and intelligent search. The platform’s AutoML capabilities, feature to allow enterprises to plug-in their own classification engines and AI/ML models and the ability to perform cross-validation of extracted fields across documents have further added to the platform’s value proposition. WorkFusion’s ‘Digital Workers’ offering has played a great role in commercializing its IDP capabilities through pre-trained ML models for specific use cases, especially in the BFSI domain. All these factors have contributed to WorkFusion emerging as a Leader on Everest Group’s Unstructured Document Processing PEAK Matrix® Assessment 2023.” said Vaibhav Bansal, Vice President, Everest Group.
Every day, companies must handle massive volumes of documents, from emails to identity document forms to legal files, arriving in paper and electronic formats. Employees must digitize these documents, plus extract, classify, and validate relevant data. After that, they must update the information across core internal systems. All these tasks are highly manual, error-prone, and of relatively low value to the company.
Intelligent Document Processing automates complex document processing, boosts the accuracy and speed of operations, and helps organizations save millions. IDP is at the core of every WorkFusion Digital Worker, enabling them to be immediately productive in a variety of critical operations roles in banking and financial services.
WorkFusion CEO Adam Famularo said, “Surging volumes and varieties of document-heavy manual work are fatigue-inducing and are simply ripe for automation. For highly regulated industries like banking, there’s simply no room for error in document-driven areas like FinCrime and compliance. We appreciate this continued recognition by Everest Group, as our deep IDP expertise is the foundation of our AI Digital Worker strategy, which automates core AML compliance functions like sanctions screening, adverse media and Know Your Customer (KYC).”
WorkFusion, Inc. is the creator of AI Digital Workers purpose-built for banking and financial services organizations. Its Digital Workers are true knowledge workers that effectively augment existing teams in functions like anti-money laundering (AML), sanctions, customer onboarding, Know Your Customer (KYC), and customer service. WorkFusion’s digital workforce solutions help solve talent shortages, increase workforce capacity, save money, enhance employee and customer satisfaction, and ensure ongoing compliance. For more information visit workfusion.com.