ABBYY acquires TimelinePI to establish role in digital transformation market

Tuesday 6 August 2019 10:21 CET | News

ABBYY has completed the acquisition of TimelinePI, to establish ABBYY’s role in the digital transformation and mining market.

The combination of ABBYY’s understanding of enterprise content in all its forms with the process context provided by the TimelinePI technology allows customers to achieve a level of digital intelligence previously unavailable. This is called Digital IQ for the enterprise.

The use cases for Digital IQ cross all industry boundaries – financial services institutions are challenged with onboarding new customers for products such as mortgages, consumer credit offerings, traditional banking services, and investment products. These services follow different business processes and require specific supporting documentation needed to verify employment, assets, income, and identity. Any delay or error in these onboarding processes could impede transactions, which may result in lost revenue, higher-processing costs, or a negative consumer experience.

The Digital IQ solutions are designed to optimise these operations by removing friction from business processes through automated understanding of structured and unstructured content, such as IDs, paystubs, tax forms etc. With the addition of the TimelinePI tech, organisations can now analyse these processes to identify opportunities for improvements, compliance issues, and assess the performance of human and digital workers within processes.

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Keywords: ABBYY, acquisition, TimelinePI, digital transformation, mining, digital intelligence, financial services, banking, onboarding, tax, IDs, compliance
Countries: World