The new solution, mindox, is designed to transform document processing within the financial sector offering insights to enhance efficiency and security in day-to-day operations
Leading Singapore-based fintech company AND Global has today announced the launch of its new intelligent document processing (IDP) software mindox, enabling financial institutions to streamline document processing while maintaining accuracy and speed. The new product is available in the Philippines with plans to expand globally. Based in Singapore, AND Global is a leading fintech company that has created multiple businesses to promote financial inclusion across Southeast Asia.
mindox enables organizations to embrace advanced intelligent document processing, transforming how they manage and extract insights from reports, texts, forms, and financial documents. The new solution powered by AND Global utilizes optical character recognition (OCR), a feature that reads text within a digital image, and natural language processing (NLP), a type of AI that enables computers to comprehend, generate, and manipulate human language. These technologies allow the mindox system to interpret a wide range of document formats as well as several complex financial documents, extracting key data points and understanding context.
In addition to this, mindox automates loan applications, significantly reducing processing times. The new technology also leverages machine learning (ML) and intelligent automation to continuously improve from each interaction and eliminate errors over time. The API support available in the new solution empowers financial institutions to integrate with existing banking systems and third-party applications. With expansion plans in the pipeline, mindox is compliant with ISO27001 and GDPR regulatory standards.
According to figures from Statista, the digital assets market in Singapore is projected to reach $534.8 million USD in 2024 with the number of users estimated to amount to 2,064 by 2028. A report by KPMG Singapore shows that more than half of CEOs (56 percent) say they need to be quicker in shifting investment to digital opportunities with 60 percent prioritizing technology investment over workforce-related investments (40 percent). mindox can support enterprises of any size to enhance document processing efficiency and power digital transformation.
Commenting on the new product launch, Khos-Erdene Baatarkhuu, CEO of AND Global, said: “There is growing demand for intelligent document processing platforms, at AND Global we are delighted to deliver this cutting-edge technology in the financial industry. mindox facilitates deeper and more interactive engagement with financial data streamlining decision-making and overall day-to-day operations. We believe documents can become intelligent companions in the pursuit of efficiency and mindox can be a significant ally to financial institutions.”
Founded in 2016, AND Global is a leading fintech company that has created multiple cutting-edge companies that are laser-focused on innovation. Their goal is to promote financial inclusion and promote technological capabilities across Southeast Asia. AND Global provides innovative solutions for financial institutions that are struggling with both efficiency and time. The company has 13 subsidiaries and employs 250 people across offices in Mongolia, Japan, Singapore, the Philippines, and Thailand. AND Global operates in 12 countries and has received over 111 international and national awards.