In a homecoming of sorts, IN-D.ai, which originated from Intain’s AI Lab in 2019, becomes a part of Intain again, to automate processing of unstructured documents and data in asset-backed finance
NEW YORK--(BUSINESS WIRE)--Intain Inc., a pioneer in digital structured finance, has announced today the acquisition of IN-D.ai, a company specializing in the transformation of unstructured documents and data into actionable insights.IN-D.ai, headquartered in Singapore, with a development team in India, started in 2019 with Intain’s then AI Lab forming its core.
As an independent venture, over the last five years, IN-D.ai expanded its reach beyond its initial focus, collaborating with prominent banks, insurers, and fund managers to automate document processing, reducing cost and operational risks. Its technology has been used in diverse projects including zero-touch partner onboarding for a leading ride-hailing service and a pilot with the Government of India to enhance the accessibility of consumer dispute cases.
IN-D.ai already significantly contributes to Intain's Verification Agent module, where its technology supports the verification and certification of loan documents to improve efficiency and accuracy. This technology recently facilitated the expedited review and certification of a 5,000-loan pool, comprising over 55,000 pages, in less than two hours.
IN-D.ai also powers Intain's "Converse with Data" (Converse) beta for Structured Finance. This innovative feature allows investors and asset managers to “think aloud” questions about their portfolios or specific deals and receive immediate answers. Converse eliminates the need for complex analytical tools, pivot tables, and macro-laden Excel spreadsheets, effectively serving as an around-the-clock analyst directly on a user’s computer. Now all this capability, and this team, is part of Intain.
“Intain, the name itself, is coined from Intelligent Blockchain. So, since we founded the company, we have believed that intelligent and distributed systems will be at the core of digital structured finance. For us, IN-D.ai is not an acquisition, it is the welcoming home of our former colleagues who have then been partners for all these years. It puts us in the best position to serve our clients who are working with us in building the digital future of structured finance,” said Siddhartha, Founder and CEO of Intain.
Hugh Simon, Chairperson of Hamon Investment Group, lead investor in IN-D.ai, saw this as the logical progression for IN-D.ai. “This will be a seamless integration between two teams that have been collaborating over the years. Structured Finance, which is a $13T industry in the U.S., will have access to the best in AI that IN-D.ai brings through its experience working across all sectors of financial services and beyond.”
About Intain:
Intain is building the digital infrastructure of future of structured finance. Intain's platform uses a combination of blockchain, artificial intelligence, and other digital technologies to create a collaborative data environment for lenders, issuers, investors, and other parties involved in asset-backed transactions.
Intain is dedicated to fostering diversity within the fintech industry, with over half of its workforce being women. The company is headquartered in New York City and maintains additional offices in Chennai and Pune, India. Intain is backed by prominent investors such as JAM FINTOP, Avalanche's Blizzard, Intervest, Hamon Investment Group, and Blockseed Ventures. For more information visit www.intainft.com or follow Intain on LinkedIN.
About IN-D.ai:
IN-D.ai is an artificial intelligence platform that supports financial institutions in developing smarter, more agile, and widely distributed operations. Utilizing AI, the platform processes documents, images, and videos and synthesizes data to automate critical processes such as due diligence, KYC, operational risk management, and insurance claims administration.
With offices in Singapore, Chennai, and Pune, IN-D.ai partners with leading consulting firms, system integrators, and automation product companies. The company has been recognized as a finalist at prestigious events such as the India Fintech Awards, AWS ML Elevate, and the Monetary Authority of Singapore (MAS) AI in Global Finance Challenge. IN-D.ai has been selected for leading accelerator programs including EY Foundry and DIFC Fintech Hive.
For more information visit www.in-d.ai or follow Intain on LinkedIN.
Contacts
Steve Odesser
steven.odesser@intainft.com