In a Fintech Friday interview with Efma, our CEO Djuro Stojanovic explains what’s coming next for Uhura Solutions https://www.efma.com/article/detail/30996
Uhura Solutions was set up as a way for financial institutions to avoid the slow, inefficient and costly manual processing of documents, explains Djuro Stojanovic, CEO and co-founder of the British fintech firm.
Djuro Stojanovic spent many years working in different international corporations, including banks, and became increasingly frustrated with the way in which documents were processed. “The way contracts and agreements were processed was completely out of touch – not only from the customer’s point of view, but also from an internal perspective,” he says.
For this reason he created Uhura Solutions – a fintech firm specializing in artificial intelligence (AI) solutions that read and understand contracts and agreements in a human-like way to speed up the review and decision-making process in financial institutions.
“We use cutting-edge AI technology such as vision processing to read contracts and agreements, and natural-language processing to understand the meaning,” Stojanovic explains. “We are focused on providing contract intelligence for financial services and developing AI specifically suited for financial contracts and agreements.”
The solution has three key features: it automatically extracts data and classifies the content; it reviews contracts accurately and automatically; and it conducts automated contract drafting.
As a result, the platform enables advanced monitoring and control. Review and learning modules allow users to monitor and control the behavior of the AI. In addition, built-in metrics and algorithms offer advanced data processing and statistics, which provide real-time reporting on the performance of the solution.
“We have designed our solutions to be intuitive and easy to use,” said Stojanovic. “As a result, companies can use our solutions and benefit from them with minimal training. The platform can also be personalized so that business users can configure our applications to suit their specific needs.”
Uhura’s success has not gone unnoticed. Early investors of the solution include Barclays and a successful start-up accelerator called Techstars. The Department of International Trade of the United Kingdom also selected Uhura Solutions to be part of the Global Entrepreneur Programme as one of the most promising fintech startups in Europe.
But Uhura isn’t stopping there.
“We are passionate about science and technology and we believe that the single most important technology shaping the future is AI,” said Stojanovic. “We want to be part of that future and bring AI technology to enterprises. We believe Uhura will become the leading platform for contract intelligence based on deep data analytics, pattern recognition, and predictive algorithms.”