Informed.IQ uses Amazon Textract as a building block

Aug 31, 2020

You can now use Amazon Textract, a machine learning (ML) service that quickly and easily extracts text and data from forms and tables in scanned documents, for workloads that are subject to Service Organization Control (SOC) compliance and International Organization for Standardization (ISO) compliance. This launch builds upon the existing portfolio of AWS ML services that are SOC and ISO compliant, including Amazon SageMaker, Amazon Rekognition, Amazon Comprehend, Amazon Lex, and Amazon Connect. The AWS compliance program continues to enable our global customer base to maintain confidence in our secured control environments with a focus on information security, confidentiality, and availability.

Customers in finance, insurance and healthcare organizations use Amazon Textract to quickly and easily extract critical data within bank statements, insurance claims, mortgage applications, and more. Amazon Textract analyzes virtually any document—such as patient information from an insurance claim or values from a table in a scanned bank statement—without requiring customization or human intervention. Amazon Textract makes it easy for customers to accurately process millions of documents in a matter of hours. That significantly lowers document processing costs and allows you to focus on deriving value from virtually any document instead of wasting time and effort on manual review and managing rigid legacy implementations. With Amazon Textract, highly accurate results are delivered via an API that you can easily access and use without requiring any ML experience.

Maintaining your trust is an ongoing commitment for AWS, and your voice drives our growing portfolio of compliance. As a result of your feedback and continual investments in privacy and data security, Amazon Textract is now compliant with SOC-1, SOC-2, SOC-3, ISO 9001, ISO 27001, ISO 27017, and ISO 27018. This means finance, healthcare, and other organizations can get deep insights into the security processes and controls that protect your data. AWS maintains SOC and ISO compliance through extensive third-party audits of AWS controls. These audits make sure that the appropriate safeguards and procedures are in place to protect against security risks that may affect the confidentiality, integrity, and availability of customer and company data. The results of these third-party audits are available on the AWS Compliance website, where auditors can view published reports to get more information about the controls established to support AWS operations and compliance.

“Informed.IQ automates income and asset verifications for banks and lenders using Amazon Textract as a building block,” says co-founder Justin Wickett. “Our machine learning engineers chose Textract to identify tables and extract key-value pairs so that we can efficiently analyze millions of paystubs, bank statements, tax returns, W-2s, and more each year on behalf of our lenders. Textract’s SOC and ISO compliance evidences strict controls to safeguard information, enabling us to further automate our lenders’ policies and procedures for loan origination.”

“Alfresco’s Digital Business Platform lets customers unlock value from their most important business information,” says Scott Elliott, SVP Worldwide Alliances and Channels. “Alfresco was one of the first adopters and innovators to use Amazon Textract. We built the Alfresco Intelligence Services Module to natively integrate with Amazon Textract and make it easy for enterprises to take advantage of its structured data extraction to retrieve specific, relevant information from virtually any document. By adding SOC and ISO compliance, we are now boosting the security compliance capabilities for our mutual customers. This regulatory-compliant, textual information can be stored as document properties in Alfresco’s Digital Business Platform, enabling, for example, tax filing and insurance claim solutions.”

“Onica is a cloud native services company, helping businesses enable, operate, and innovate on the cloud,” says Mark McQuade, Practice Manager for Data Science and Engineering. “We have seen great interest in Amazon Textract across many document-heavy verticals including legal services, supply chain and logistics, to financial services. We’re excited that Amazon Textract is now SOC and ISO compliant, making it the ideal choice for financial and tax services companies with proprietary SaaS solutions. The ability to integrate Amazon Textract into SaaS offerings to automate the processing of documents from many domains removes a lot of manual and time-consuming reading and re-entry activities, yielding transformative cost savings.”

“Quantiphi is a machine learning and Artificial Intelligence software and services company,” says Arnav Gupta, Practice Lead for US, Canada, and India. “Our intelligent document processing solution—QDox, built on Amazon Textract—has been instrumental in helping organizations simplify their document extraction and management with machine learning. Textract is a key component for our solution due to its high accuracy and scalability, along with being one of the only solutions to provide automated key-value pair and table extraction on virtually any type of document without the need for training. With the SOC and ISO compliance, it further helps to productize solutions for large enterprise customers with the highest levels of security.”

Amazon Textract is SOC compliant and ISO compliant in all AWS Regions where Textract is available. The ISO and SOC compliance reports are available via AWS Artifact on the AWS Management Console. To learn more about Amazon Textract, see Amazon Textract.