PARIS, April 9, 2019 /PRNewswire/ -- Fortia Financial Solutions, a specialist in Artificial Intelligence applied to the banking, finance and insurance sectors, announces the launching of Data Avangarde®, its master data management solution based upon artificial intelligence, in September 2019. Fortia's second product, Data Avangarde® completes the rule detection and ration calculation offered by Fortia's first solution, Innova.
Data management for value creation
The significant increase in data volumes, 800% by 2025 as estimated by Gartner, poses a major challenge to companies in terms of both data quality and governance. As a result, data analysts spend more than half of their time searching, repairing, enriching and transforming data instead of analyzing it. The Data Avangarde® solution aims to redefine this balance to allow to devote 90% of their activity to data analysis.
Offering an end to end business solution, Data Avangarde® enables its users to automate and secure the entire data production chain, from unstructured sources, and repository management, neither with any computer code line nor assistance. The operational processes can be fully modelled, thus ensuring a follow-up and traceability of all operations. These advantages also allow user companies to drastically reduce the costs of managing repositories while benefiting from greater control over data quality. With Data Avangarde®, Fortia aims to achieve a significant improvement in data quality, to achieve a reliability rate of more than 99% and a reduction of more than 90% in data processing and repository costs.
The result of an elaborate R&D process
Data Avangarde® is the result of an R&D process carried out over several years by the Data Scientists of Fortia's AI Research Laboratory, and more specifically in Natural Language Processing, Computer Vision and Deep Learning.
The Data Avangarde® solution is based on new proprietary algorithms that are about to revolutionize Master Data Management practices. In particular, they increase the machine's ability to understand and interpret the business language and to learn in real time from the user experience. Data Avangarde® algorithms allow, for example, to extract target data from all raw and unstructured media, thus providing reliable and free information to the repositories.
A powerful and customizable platform
The plateform consists of three "layers". The first one offers the features for data integration, process and distribution. Data Avangarde® is able to extract data, whether it is structured – coming from Excel, csv, database..., or unstructured – from Word documents, emails...
The algorithms also operate a data curation thanks to an automatic process of anomaly detection... The next step allows the enrichment, the transformation, the qualification and then the 100% validation of the data before it is transmitted to the customer, and provides business users with the assurance to get accurate data in the right format.
Finally, Data Avangarde® stands out for its UI and UX. Designed to be accessible to all users, the platform allows them to configure reporting, dashboards and analytics tools. The user can make these choices independently or rely on the proposals of the algorithm, which provides a consistent data set meeting the customer's needs.
As Reda Bouakel, CEO of Fortia Financial Solutions, points out, "We are convinced that data will become one of the companies' most important assets, provided that it is processed with smart solutions and with high capacities for automatic learning. Therefore, Fortia's artificial intelligence laboratory has been developing revolutionary algorithms for several years now that will not only transform each company into its own data provider, but also enable it to implement a real strategy for managing its repositories."
Fortia is a Paris-based software publisher specializing in AI applied to compliance management, data processing and automation of complex operational processes. With a headcount of over 100 associates, including 16 data scientists, Fortia has already developed its first AI-based solution: Innova®.
Fortia's client roster includes major European and US banking groups. Since 2016, Fortia has enjoyed triple-digit annual growth.