nRoad Fundamentally Changes How Enterprises Consume and Leverage Unstructured Data

BOSTON, Feb. 23, 2022 /PRNewswire/ -- nRoad, an AI startup commercialized during the height of the pandemic and the first company to declare a "War on Documents," is today introducing its leading platform, Convus™, which is far beyond beta and currently in production, operating at global scale 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 minimum 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, dark data that's prevalent across the enterprise but not always transparent or usable, continues to be a top business challenge. Unstructured data includes everything from documents, to images, to video and audio streams, to social media posts. Collectively, by most estimates, these types of data account for 80 to 90 percent or more of the overall digital data universe.

As unstructured data volumes keep spiraling out of control and the complexity grows, manual-heavy Robotic Process Automation (RPA) requiring extensive human interaction and generic, one-size-fits-all NLP solutions are no longer viable. The nRoad team has been on a quest to solve this problem, and has developed solutions to extract, understand, and provide insights 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 firms, and financial data providers, including:

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

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

The founding team at nRoad has deep experience conceptualizing, executing, and delivering AI- based technology solutions, with the goal of maximizing customer success and business objectives. Convus™ is the result of their collective pursuit to solve today's most critical dark data challenges. Powered by deep learning models, vision-based algorithms, reinforced by language models and graph-based techniques, Convus™ is the missing link for achieving synergy between structured and unstructured data.

About nRoad:

nRoad, a Boston-based AI startup, is revolutionizing how enterprises consume and leverage unstructured data. The company's AI-powered Convus™platform abstracts and incorporates unstructured data and documents into vital business functions. Convus™, which is 2.8 seconds faster than popular cloud solutions, has a 90 percent 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 to some of the largest FinTech players, asset management firms, and financial data providers. To learn more, visit: http://www.nroad.ai

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SOURCE nRoad