Evolution AI
Evolution AI specializes in AI-driven data extraction from financial documents, processing over 1.5 million pages daily for clients like NatWest and Deutsche Bank.
Services
Evolution AI provides a wide range of data extraction services essential for financial transactions and documentation. They offer both self-service and managed service options, ensuring flexibility for diverse client needs. Their solutions include extraction from financial statements, invoices, bank statements, contracts, trade finance documents, passports, and driving licenses. The company also offers a specialized AI data extraction solution for contracts, utilizing human-in-the-loop (HITL) methods for enhanced accuracy. They support multiple document types and languages, even for poor-quality scans, and provide a simple point-and-click interface for document configuration.
Technology and Innovation
Evolution AI leverages cutting-edge generative AI technology to extract data from various financial documents. Their self-learning technology consistently improves accuracy over time. The company uses a comprehensive Quality Assurance (QA) workflow to ensure high-quality data capture. Evolution AI's solutions are fundamentally science-based, focusing on constant discovery and innovation in the field of AI data extraction. They have been recognized as a Leading Innovator in Data Extraction – Europe at the Fintech Awards 2021 and received the UK Government’s largest-ever grant for commercial AI research and development.
Client Partnerships
Evolution AI collaborates with several high-profile clients, including NatWest, Dun & Bradstreet, and Deutsche Bank. These partnerships highlight the company’s capability to handle large volumes of data with precision, processing over 1.5 million pages daily. Their solutions provide a one-stop shop for clients, capturing high-quality data from any document type, which is crucial for financial institutions and other large organizations.
Sector Focus
Evolution AI caters to various sectors requiring precise data extraction from complex financial documents. Their services are essential for asset management, commercial finance, private equity, independent financial advisors (IFAs), insurance, and mergers & acquisitions (M&A) specialists. They also provide specialized solutions for trade finance documents and quarterly reporting packages in private equity, ensuring every sector gets tailored services to meet their specific needs.
Pricing Model
Evolution AI offers a competitive pricing model based on per-page charges, which provides a cost-effective alternative to traditional subscription-based models. This approach allows clients to scale their usage as needed without incurring prohibitive costs. The per-page pricing model makes Evolution AI's advanced data extraction services accessible to a broader range of customers, from small businesses to large financial institutions.