Auquan, a financial services AI developer, has raised $3.5 million in a seed round headed by Neotribe Ventures. The company has also announced its SaaS-based solution, the Auquan Intelligence Engine, which uses Retrieval Augmented Generation (RAG) AI to extract information from unstructured data.
Auquan’s RAG AI-Powered Engine Enhances Financial Analysis
Auquan frees up financial professionals’ time for analysis and strategic decision-making by automating data collection and emphasizing relevant findings. Major companies in the banking business have already embraced Auquan. The funds will be utilized to develop the RAG AI-powered engine and grow the company’s market presence in the United States. Auquan’s innovative Auquan Intelligence Engine employs RAG AI, a meta-invented approach for knowledge-intensive jobs in financial services.
“RAG AI represents a major breakthrough for making generative AI viable for knowledge-intensive tasks in the enterprise. But it still requires significant domain expertise and a deep understanding of the user workflows to actually deliver the productivity and performance gains that generative AI promises,” said Chandini Jain, co-founder and CEO of Auquan.
The invention tackles constraints in productive AI technologies by accessing real-time information and providing reliable replies. The intelligence engine speeds up procedures involving the quick collection and analysis of unstructured text, which benefits activities such as due diligence, regulatory compliance, and sustainability research. Auquan’s personalized solutions provide comprehensive, dependable, and accurate results for improved financial decision-making. Some of the most common applications of Auquan’s Intelligence Engine are:
- Rapid screening of possible private equity and debt fund investments.
- Allows quick access to previously unavailable data for in-depth research.
- Improves regulatory compliance procedures’ efficiency, accuracy, and timeliness.
- Automates the retrieval of information from trusted sources.
- Provides real-time risk monitoring and notifications while summarizing data.
- KYC, background checks, and anti-money laundering measures
- Critical for investment decision-making, particularly in terms of regulatory compliance.
- Examines past data and keeps track of current events.
- Detects greenwashing and unearths ESG concerns, dangers to corporate behavior, or controversies.
- Aligns events with worldwide industry norms to ensure consistent and accurate reporting.
Source: Auquan