ICEX Spain Export and Investments and Red.es, together with the LHoFT Foundation, are organizing the first edition of the STC Luxemburgo 2018 to be held on September 10 and 11, 2018. The event will bring together Fintech companies from the fields of Cybersecurity, Blockchain, AI, Payment, Wealth Management and Insurtech.
STC (Spain Tech Center) is a program by ICEX (the Internationalization Agency of the Government of Spain) and Red.es (its digitalization agency) to introduce digital startups. After STC Tel Aviv, STC Boston and STC China, ICEX and Red.es partnered with the LHoFT to create STC Luxemburgo.
At the LHoFT, we are proud to be part of a collaborative and globally connected european Fintech ecosystem across all sectors. In an effort to shed some light on this vibrant ecosystem and their representatives, we caught up with David Morales, Marketing Manager of Serimag who is taking part in the STC Luxemburgo 2018 program.
Can you tell us a little about yourself, and about Serimag? What is are the distinctive aspects of your platform?
Serimag has 10 years of experience in developing solutions based on artificial intelligence to provide intelligent document recognition. Understanding our clients difficulties from the root and developing a suited solution for each of them makes our platform TAAD extremely valuable. We don’t believe in a “one for all” solution: every project is tailored for its particular needs.
What are the key applications of your technology in the financial world?
Physical documents are still an ongoing reality in the financial sector. Massive documental processes are usually critical, slow and very difficult to optimise. Serimag’s AI solutions can learn and process large volumes of data, understand it and know how to respond in future cases automatically. With a specially trained and configured system we can learn from each document and understand it both visually and textually, just as a person would do. Data automation delivers a direct reduction in human effort, which is easily translated into time and cost optimisation.
How has the growth of financial technology contributed to the uptake of technologies such as Serimag’s?
Digital transformation is a reality banks must face as soon as possible. Serimag, as a digital back office has the knowledge and experience to help them make this transition as smooth as possible. Artificial intelligence is the key to speed up banking services and offer banking solutions that weren't even possible without it.
What are the challenges faced by companies built around AI and Machine Learning as the core of their proposition?
As an AI based company we still find difficulties in raising the awareness on digitalization, which is becoming mandatory for financial services. Working in highly critical processes makes this transition even harder. Relying in artificial intelligence systems is the way for the financial sector to keep improving its services and have a competitive advantage in the financial market.
What do you expect as Fintech company to get out of the 2 day program of STC Luxemburgo 2018 and why Luxembourg is out of interest for you?
Luxembourg as a financial technology hub and Eurozone’s leading financial centre it’s the perfect scenario to connect with the European Fintech community. Serimag has innovation in its DNA, and initiatives as STC are great to facilitate connections and opportunities for companies like ours.
Any personal insight about the world of financial technology or entrepreneurship you want to pass on to readers?
Transformation in back office operations, data automation and effortless customer interactions are now the new normal. Financial technology is experiencing an unstoppable growth in which AI is going to be the key to drive secure, compliant and value-adding. The race is on!
Thank you for taking part!
If you want to attend the first edition of the STC Luxemburgo 2018 to be held on September 11th , 2018, register here!