How a Global Financial Information Company Reached 99.9% Accuracy

About the Company

A global financial information company provides critical data, analytics, and insights to financial institutions, businesses, and investors worldwide.

It collects, processes, and delivers accurate and timely financial information, including market data, credit ratings, economic indicators, and risk assessments. These services help clients make informed decisions, manage risks, comply with regulations, and drive growth.

Challenge

Manage the extraction and annotation of data from a growing volume of financial documents, specifically corporate, tax, and bank reports.

Solution

Cognaize deployed an advanced AI-powered financial spreading system tailored to the company’s specific needs. Multiple layers of checks and balances were implemented to verify data accuracy and ensure seamless integration with the company’s existing database infrastructure.

The solution included more than 30 unique templates and the ability to extract information from various languages including English, Chinese, German, French, and Spanish.

Results

Our AI models have made the data validation and financial spreading process more effective for a total amount of 500,000 financial reports with over 12 million pages.

Data Accuracy
Achieved a 99.9% precision rate in data validation.

Efficiency
Reduced manual verification time by 75%.

Cost-effectiveness
Made the process 5 times faster and 10 times cheaper.

Reliability
Enhanced the credibility of the financial information and credit analysis company’s reports, strengthening their market position.