A Singapore-based startup called IN-D.ai, which specializes in turning unstructured data and papers into actionable insights, was purchased by Intain, a NYC-based business that specializes in digital structured finance.
The deal’s total value was not made public.
Intain will automate the processing of unstructured data and documents in asset-backed financing as a result of the purchase.
An artificial intelligence platform called IN-D.ai helps financial institutions create widely dispersed operations. The platform uses artificial intelligence (AI) to scan and synthesize data from papers, photos, and videos in order to automate important tasks including operational risk management, insurance claims administration, KYC, and due diligence.
Its technology has been applied to a variety of initiatives, including as a trial with the Indian government to improve the accessibility of consumer dispute cases and zero-touch partner onboarding for a ride-hailing business.
About Intain
Intain is building Intelligent Blockchains for transparency and efficiency in capital market transactions, with initial focus on asset-backed investments. Asset-backed investment volumes (including mortgage-backed securities and other financings) have touched pre-crisis levels, but the only major change since the financial crisis is an increased compliance burden, with little in terms of transparency or improved efficiency. Between the issuance and ongoing management of these investments, anywhere between four to eight intermediaries get involved with annual costs in excess of $30B across Securitization and other financing.
