nRoad is fundamentally changing the way businesses consume and leverage unstructured data

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BOSTON, February 23, 2022 /PRNewswire/ — nRoutean AI startup commercialized at the height of the pandemic and the first company to declare a “war on documents”, today introduces its leading platform, Convus™, which is well beyond beta and currently in production, operating globally and driving significant value for several Fortune 100 financial services institutions.

Unlike other horizontal natural language processing (NLP) platforms and services, Convus™ is purpose-built for financial services with deep, domain-centric machine learning models. The platform requires minimal training samples, enables faster deployment, and is built on a microservices-based architecture that can integrate with existing IT infrastructure in a non-intrusive way while maintaining required data security. .

Unstructured data, the deep and obscure data that is prevalent across the enterprise but not always transparent or actionable, continues to be a major business challenge. Unstructured data includes everything from documents and images to video and audio streams and social media posts. Collectively, by most estimates, these types of data represent 80 to 90% or more of the global universe of digital data.

As volumes of unstructured data keep spiraling out of control and complexity increases, heavy manual robotic process automation (RPA) requiring extensive human interaction and generic, one-size-fits-all NLP solutions are no longer viable. the nRoute The team sought to solve this problem and developed solutions to extract, understand and provide information from unstructured data.

Currently serving the financial services industry, the Convus™ platform has proven its capabilities to some of the largest FinTech players, asset management companies and financial data providers, including:

  • Enables financial institutions to extract, standardize and incorporate critical business information buried in unstructured documents into critical business processes.
  • Offers a purpose-built, enterprise-grade platform that delivers scalability, accuracy, and efficiency with minimal training overhead.
  • Reduces costs and avoids manual data extraction and entry; deep learning models adapt to changing document formats and structure.

“Misconceptions about how automation of unstructured data can be achieved have persisted for decades,” says Aashish Mehta, CEO of nRoad. “This is a deep, domain-heavy function that requires understanding what data is presented, why it’s in a certain format, and how users want to consume that data. In stealth mode, we carefully analyzed and identified some key challenges and developed our proprietary Convus™ platform.”

nRoad’s founding team has extensive experience conceptualizing, executing and delivering AI-powered technology solutions to maximize customer success and business goals. Convus™ is the result of their collective quest to solve today’s most critical dark data challenges. Powered by deep learning models, vision-based algorithms, enhanced by language models and graph-based techniques, Convus™ is the missing link to achieve synergy between structured and unstructured data.

About nRoad:

nRoad, a Bostonpowered by AI, is revolutionizing the way businesses consume and leverage unstructured data. The company’s AI-powered Convus™ platform abstracts and integrates unstructured data and documents into vital business functions. Convus™, which is 2.8 seconds faster than popular cloud solutions, has 90% extraction accuracy and to date has extracted over ten million domain-specific terms. Currently serving the financial services industry, the Convus™ platform has proven its capabilities with some of the largest FinTech players, asset management companies and financial data providers. To learn more, visit: http://www.nroad.ai

Media Contact:
Lauren Gill
[email protected]
978-473-1362

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