Newgen Launches AI & ML-based Identity Document Extraction & Redaction Software

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Newgen Software is pleased to announce the launch of Intelligent IDXtract —a cognitive identity document extraction and redaction software. Intelligent IDXtract will enable organizations across industries to accurately extract information from identity documents and leverage it for multiple processes, including customer onboarding, KYC verification, and employee information management.

Intelligent IDXtract uses a computer vision-based cognitive model to identify the presence, location, and type of one or more entities on a given identity document. The entities can include a person’s name, date of birth, unique ID number, and address, among others. The software leverages artificial intelligence and machine learning, powered by computer vision techniques and rule-based capabilities, to extract and redact entities per business requirements.

“Our new intelligent identity document extraction and redaction software seamlessly integrates with our digital automation platform, to provide easy access to the information present on identity documents. Enterprises can leverage AI/ML-extracted ID information to ensure smarter decision-making, improve productivity, and deliver better customer experience while staying compliant,” said Diwakar Nigam, MD and Chairman, Newgen Software.

Key features of the software include:

·         Entity recognition and localization

·         Trainable machine learning to build customized models

·         Support for image capture variations, such as scanned and mobile captured images, etc.

·         Automatic recognition, location, interpretation, and extraction of QR code and MRZ

·         Language independent localization and redaction of entities

·         Seamless integration with core business applications, content management platforms, and document capture applications

·         Identification and redaction of personally identifiable information

Newgen’s Intelligent IDXtract supports multiple use cases, including auto-form filling using extracted entities, risk management and regulatory compliance, and metadata enrichment for easy search and retrieval.

About Newgen Software Technologies Limited:

Newgen is a leading provider of low code digital automation platform. Globally, successful financial institutions, insurance, government, and shared services organizations rely on Newgen’s industry-recognized products and applications—to manage their processes (BPM), content (ECM), and communications (CCM)—for connected operations. From customer onboarding to service requests, from loans and deposits to underwriting, and many more, Newgen’s industry applications transform business-critical operations with agility. Newgen’s cloud-based platform enables digital transformation initiatives for superior customer experience, optimized costs, and improved efficiencies.

For more details, visit www.newgensoft.com

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