FinSuite
FinTech specialising in process automation software leveraging Artificial Intelligence, OCR and proprietary methods, for the Banking & Finance Industry.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
* | N/A | Acquisition | |
| Total Funding | 000k | ||
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FinSuite is a Melbourne-based financial technology company established in 2010 by founder Bart Jesman. The firm specializes in developing process automation software for the banking and finance industry, serving a diverse clientele that ranges from small finance brokers and accounting firms to large global banks. The company's core business revolves around leveraging Optical Character Recognition (OCR), Artificial Intelligence (AI), and proprietary methods to streamline and automate financial analysis and loan application processes.
FinSuite’s software is designed to significantly reduce the cost and time associated with analyzing complex business structures and financials. Its key capabilities include capturing and structuring data from various documents, such as PDFs, to create clear visualizations of entity relationships. The technology also analyzes financial documents to categorize line items and generate comprehensive performance reports, thereby enhancing efficiency for its clients. This allows financial professionals to make faster, more informed decisions on loan applications.
The company's journey includes notable milestones such as its participation in the Fintech Innovation Lab in 2014, an accelerator that provided early-stage support. This foundational experience helped shape its product development and market strategy. In a significant development, FinSuite was acquired by nCino in October 2019 for $11.5M, marking its transition from an accelerator-backed startup to a part of a larger, publicly-traded financial technology solutions provider. This acquisition integrated FinSuite's automation capabilities into nCino's broader platform, expanding its reach and impact within the global financial services market.
Keywords: process automation, financial analysis software, banking technology, OCR for finance, AI in banking, loan application automation, Bart Jesman, nCino acquisition, financial data extraction, entity relationship mapping, business structure analysis, fintech automation, accounting firm software, finance broker tools, corporate credit analysis, PDF data analysis, automated reporting, Fintech Innovation Lab alumni, Melbourne fintech, financial services software