SmartAudit claims to own 30% market share in the SIP and brokerage audit space in India.
RAP Ventures announced a partnership with Bangalore based Hotify, a leading Enterprise AI Solutions & Cognitive Intelligence Platforms Provider, to launch AI-powered solutions tailored to the BSFI and mutual fund industries.
Rapid Acceleration Partners’ pedigree comes from its expertise in the mutual fund’s space with its sister company, the decade-old SmartAudit, which deals with SIP, brokerage audits and transactional audits for the mutual fund and the microfinance industry. SmartAudit proudly boasts of a 30% market share in the SIP and brokerage audit space in India.
RAPs strong domain & development expertise combined with Hotify’s cognitive intelligence platforms will design the wide variety of solutions designed to provide accelerated deployment for standard applications, and adapted solutions for the more idiosyncratic ones. The solutions include hand-written form/document recognition, response systems, risk & fraud detection and customer intelligence solutions, in addition to other standard automation.
As Baskar Agneeswaran, Co-founder & Director at Rapid Acceleration Partners puts it,
“At the most basic level, these solutions will help achieve operational efficiency and smoothen out the entire process with significant cost saving potential both in the short and long run”.
Raghuraman Ramamurthy, Co-founder & Director, RAP, says,
“with AI gaining traction in enterprises, the solutions we have adapted for the BFSI industry is another small leap that will propel enterprises towards a more streamlined and seamless approach, help eliminate a number of time-consuming manual processes and human error, and most importantly, provide analysis of data for targeted action.”
Preethi Narayanan, President-AI Services, Hotify, said,
“Our strength lies in the excellent domain expertise and nuances that partners like RAP bring to the table, and our joint strategy has helped us create cognitive solutions that can enable the enterprises to achieve tangible results of great magnitude”
About Rapid Acceleration Partners
Rapid Acceleration Partners provides AI-powered automation solutions for enterprises to help them improve operational efficiency, productivity, reduce cost and improve customer engagement. RAP provides a wide array of solutions across industries like Mutual Funds, Banking, Financial Services, Insurance, and Manufacturing.
About Hotify AI
Hotify is an Enterprise AI solution provider headquartered in Bangalore, India. Hotify has a seasoned leadership team with hands-on experience in a wide range of AI domains and deep expertise in Artificial Intelligence. Hotify is presently working with leading enterprises in banking, financial services, manufacturing and consumer packaged goods companies. Hotify’s “Cognitive Intelligence Platform”, provides an out-of-the-box ready-to-use AI backend, designed to accelerate development of intelligent systems and increase AI adoption. Hotify also offers AI advisory, consulting, solution architecture and other services organizations may require as they work toward the adoption of AI.
SmartAudit Services Private Limited is a leading player in the transaction, process, and systems audit in the BFSI space. SmartAudit developed the world’s finest rating based audit system for the Micro Finance industry. SmartAudit also undertakes complex system based audits for validating the accuracy of brokerage calculation in the Mutual Fund industry, in addition to providing transaction audits for Mutual Funds and RTAs.