The days of financial institutions toiling to extract meaningful information and data from documents are gone. In the current age of artificial intelligence (AI), Kingland Systems—a full-service technology solutions provider based in Iowa—is harnessing the power of cognitive technology to demystify data. The company’s AI-powered Kingland Platform can read a 300-page legal agreement, disclosure, or regulatory report or prospectus with thousands of data attributes and extract valuable insights in a matter of seconds and with high accuracy. “We see cognitive text analytics that can read, comprehend, analyze and act upon structured and unstructured data as a silver bullet for banks to maximize data usage, optimize transactions, and find efficiency and resiliency in their operation,” begins Tony Brownlee, Kingland’s chief strategy officer. The platform employs AI and natural language processing (NLP) combined with powerful enterprise data management capabilities like hierarchy management to help clients make better business decisions. It also allows clients to automate processes, improve the accuracy and efficiency of text mining and analysis, and allows data quality improvements at a lower cost.
What makes Kingland a standout in the marketplace is their cognitive approach to solving enterprise data problems. The AI-driven platform provides insights in real time and enables the decision-making process to be more agile. Clients can accurately discover and extract value from their unstructured data. For instance, the cognitive text analytics capabilities of the Kingland Platform provide first of a kind solutions for large banks, addressing reference data management issues. Kingland is able to continuously monitor, identify, and prioritize information using cognitive models trained to enhance the day-to-day work of risk, compliance, and operations experts. The cognitive engine accurately extracts unstructured data from PDFs, web pages, legal documents, prospectuses, and more to reveal entities, people, addresses, relationships and hundreds of other critical data attributes to help organizations meet constantly changing risk, regulatory and operational requirements.
With more than 40 components, the Kingland Platform uses a microservices architecture to create client-specific, cloud-optimized data-driven solutions.
Our platform is designed to read thousands of complicated documents in minutes, changing the game for industry experts managing risk
Every component of the platform is designed to deliver customer-centric insights that reduce risks, lower costs, and improve scalability. “We deliver customized solutions in a much shorter time frame, which is exactly what today’s enterprises want,” adds Brownlee. Validating the eminence of Kingland’s efficient and cost-effective offerings is its success story with DTCC, a U.S. financial services firm. “The client experienced difficulty with regard to manual data entry in its central repository of mutual fund data and operational rules, which houses approximately 27,000 securities and over 5 million data points,” states Brownlee. Once the Kingland Platform was implemented, the client was able to help the banking industry significantly reduce the amount of time to process, update, and use more than 300 data points cognitively extracted from prospectuses and other regulatory filings within the SEC’s EDGAR system.
Established over 25 years ago, Kingland is on a mission to reinvent the way financial services firms use data to connect, protect, and operationalize unstructured data in large, global banks. One of the only software companies appraised at a CMMI maturity level 5, Kingland has been committed to enterprise-class solutions and consistent innovation, consistently rolling out updates to its software over the years. “Our investment in the platform and the solutions we develop help firms reduce execution risk and advance business strategies,” says Brownlee. Kingland is intent on continuing to enhance its products to offer more AI use cases, expand its NLP capabilities, and broaden its solutions to industries like retail, public accounting, and insurance.