SAN JOSE, Calif.-– Concentric Inc., a leading vendor of intelligent AI-based solutions for protecting business-critical data, today announced that it was named to the Global AIFinTech100 list as one of the world’s most innovative solution providers developing artificial intelligence (AI) and machine learning technologies to solve challenges or improve efficiency in financial services.
Concentric’s Semantic Intelligence™ automates unstructured and structured data security using deep learning to categorize data, uncover business criticality and reduce risk. Its Risk Distance™ analysis technology uses the baseline security practices observed for each data category to spot security anomalies in individual files. It compares documents with peers in the same category to identify risk from oversharing, third-party access, and wrong location or misclassification. Financial services organizations benefit from the expertise of content owners without intrusive classification mandates, with no rules, regex or policy maintenance needed.
The AIFinTech100 was produced to identify the most innovative companies developing AI applications in financial services that every financial institution needs to know about as they develop their digital transformation strategies. The standout companies were chosen by a panel of industry experts and analysts who reviewed a study of more than 1,000 FinTech companies undertaken by FinTech Global, a data and research firm. The solution providers making the final list were recognized for their innovative use of technology to solve a significant industry problem, or to generate cost savings or efficiency improvements across the financial services value chain. A full list of the AIFinTech100 can be found at www.AIFinTech100.com.
“Now, more than ever, established financial institutions need to be aware of the latest AI and data analytics technology innovations in the market to ensure they deliver competitive financial products and reach new customers,” said FinTech Global director Richard Sachar. “The AIFinTech100 list helps senior management filter through all the solution providers in the market by highlighting the most innovative artificial intelligence companies in areas such as Insurance, Banking, Investment & Trading, Lending, Customer Experience, Compliance and Fraud Prevention.”
“Concentric stands out in the financial services industry due to our use of advanced deep-learning technology to solve the ongoing challenges of unstructured and structured data security – both in the cloud and on-premises,” said Karthik Krishnan, Concentric CEO. “We deliver the industry’s best autonomous data discovery and categorization capability for complete data protection that gives financial firms the tools they need to effectively manage risk.”
With Concentric, organizations can finally address their unmet data security needs by discovering and protecting business critical content. Concentric protects intellectual property, financial documents, PII/PCI content, customer data, business confidential data and more, across on-premises and cloud-based data stores. The Concentric Semantic Intelligence™ Data Access Governance solution uses deep learning and Risk Distance™ analysis to accurately categorize data, assess risk and remediate security issues – without relying on upfront rules or complex configuration. Concentric is venture backed by leading Silicon Valley VCs and is headquartered in San Jose, Calif. For more information, see https://www.concentric.ai/who-we-are.