KnowledgeLake Featured in Aite-Novarica Group's Commercial Banking FinTech Spotlight

Cloud-native, end-to-end IDP platform recognized for delivering innovations that help financial institutions overcome key hurdles in document management

ST. LOUIS, Nov. 30, 2022 /PRNewswire/ -- KnowledgeLake, a leading provider of intelligent document processing (IDP) solutions for financial institutions, today announced that the company is featured in Aite-Novarica Group's latest Commercial Banking Fintech Spotlight: Q3 2022.

The Aite-Novarica Commercial Banking FinTech Spotlight is a quarterly series of industry reports featuring vendors that provide innovative FinTech solutions to the commercial banking industry.

The spotlight series aims to provide commercial banks insight into emerging FinTech solutions that offer a unique selling point and innovative approach to solving common banking challenges.

"Digital transformation in commercial banking has many dimensions and is evolving at an unprecedented pace," said Erika Baumann, Director of Commercial Banking & Payments for Aite-Novarica Group. "We publish the FinTech Spotlight to help financial institutions assess and understand how the landscape is evolving in areas such as AI, machine learning, automation, and cloud technologies and to help identify potential partnerships. The KnowledgeLake platform applies technologies important, and often overlooked, to intelligent document and information processing, a core operational function for any commercial bank."

KnowledgeLake's cloud-native, end-to-end platform earned recognition in the spotlight for offering "all the key components of a modern, cloud-based IDP solution, including capture, self-teaching data extraction powered by AI and machine learning, process automation, and unlimited storage."

According to the report, KnowledgeLake has brought key innovations to the market that can help traditional banks and financial institutions provide a better user experience, remove redundancies in workflows, and meet regulatory and compliance needs by automating document-intensive processes like account opening and loan processing.

"Aite-Novarica is an authority in the financial services industry, and their FinTech Spotlight provides accurate, in-depth clarity into what's happening in FinTech. This is an exciting recognition of the unique value KnowledgeLake delivers to banking and financial institutions. We look forward to helping more financial institutions modernize their processes as we continue to expand our presence in the industry," said Ron Cameron, CEO of KnowledgeLake.

The Aite-Novarica Commercial Banking FinTech Spotlight is available for download on the KnowledgeLake website.

KnowledgeLake is the only end-to-end, fully cloud-native solution for intelligent document processing, enabling organizations to capture, process, and manage their content in a single platform. The company combines intelligent document capture and robotic process automation (RPA) to increase organizational productivity. Two million users worldwide employ KnowledgeLake to work faster and more efficiently. For more information, visit knowledgelake.com.

Aite-Novarica Group is an advisory firm providing mission-critical insights on technology, regulations, strategy, and operations to hundreds of banks, insurers, payments providers, and investment firms—as well as the technology and service providers that support them. Comprising former senior technology, strategy, and operations executives as well as experienced researchers and consultants, their experts provide actionable advice to their client base, leveraging deep insights developed via their extensive network of clients and other industry contacts. Visit them at aite-novarica.com.

CONTACT: Karen Laverty, [email protected], 781-697-0514

SOURCE KnowledgeLake