Instabase, a US-based startup specialized in data-driven intelligence, has developed numerous apps with different capabilities to perform tasks such as data processing, integration, discovery, query, analytics, visualisation, clustering, prediction, and ML.
The new solution is based on Instabase’s technologies like programme synthesis, natural language processing (NLP), optical character recognition (OCR) and machine learning (ML) capabilities. These functionalities aim to identify and extract data from multiple sources and various unstructured forms, and turn them into structured data points that can be used in the bank’s data processing systems.
Standard Chartered is currently co-innovating with the startup to enhance the solution and to implement it in other markets. Moving forward, the bank will also work with Instabase on other use cases to improve and transform the client experience in areas such as Retail Onboarding, CIB Legal Documents Reconciliation, Corporate Loan Processing, Trade Swift Messages, Loan Syndicate Workflow Automation and more.
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