Impactsure Technologies has joined the Google Cloud Partner Advantage Program as a technology partner. Built on Google Cloud, Impactsure will provide financial institutions and corporate customers with the ability to implement artificial intelligence (AI) and machine learning (ML) solutions that can increase operational efficiency and reduce compliance risks.

Dharmarajan, Founder Director & CEO, Impactsure says “Being a technology partner to Google Cloud is a significant development for Impactsure. It will enable us to expand our market presence through advanced data security tools that support compliance and data privacy.”

The new Trade Finance solution enables banks, financial institutions and corporations with advanced intelligent data analytics and document processing to manage critical processing and compliance-related requirements. Impactsure’s Secure Unified Responsive Engine (SURE) scans, processes, classifies and extracts structured and unstructured data from documents in a variety of file formats. Impactsure’s products have helped customers reduce manual efforts by more than 80 percent and process complex documents in under 10 minutes.

Impactsure’s AI products simplify complex operations in corporate banking and trade finance that are manually intensive, error-prone and subject to stringent compliance regulations. The AI-powered solutions enable staff to scrutinize documents that are used as supporting or input documents for bank guarantees, letters of credit, remittances, collections, mortgages, discounting, credit operations, treasury documents, applications for working capital loans and advances, corporate loans, insurance underwriting and insurance contracts.

Subramaniyan Neelakandan, Founder Director and CTO, Impactsure adds, “Our products help human operators reduce the time taken to inspect complex documents by identifying different types of discrepancies, highlighting exceptions, and uncovering hidden patterns. The human operator can then approve, review, or reject the applications based on legal and regulatory guidelines.”

Impactsure’ s products are also used by wealth management firms that manage global, multi-asset, multi-currency portfolios and by businesses that require KYC (Know Your Customer) and KYB (Know Your Business) processes to stay compliant with stringent regulations and mandates.