Deloitte and Retresco have agreed on a strategic partnership to cooperate on developing automation products for financial services.
The strategic partnership between the companies reflects an understanding that customers are looking increasingly for products that embrace society’s rapidly-accelerating digitalisation. Retresco and Deloitte will be looking to develop projects around AI-driven Natural Language Generation (NLG).
Alexander Siebert, founder and CEO of Retresco, says, “We are very pleased to be teaming up with Deloitte on this strategic partnership. Deloitte is one of the leading names in financial and professional services and we are looking forward to working with them. NLG is a rapidly-expanding market and Deloitte’s faith in Retresco as a company underlines our ability to develop and produce innovative solutions.”
Retresco’s core product is textengine.io, a next-generation NLG service that takes structured data and transforms it into context-based naturally-formulated text. In their partnership, Retresco and Deloitte predict that NLG can and will be applied across all areas of financial services and reporting. In addition, the companies expect great benefits to be made from subsequent gains in efficiency.
Deloitte and Retresco cover a wide range of relevant consulting services as well as having a strategic focus on offering specialized digitization services. The aim is to automate business processes and apply state-of-the-art technologies for the analysis and exploitation of texts and data.
Dr. Sebastian Köhn, senior manager of risk & advisory at Deloitte, says, “As a company, we readily cooperate with innovative and reliable partners. Retresco has a solid long-term track record, and is an innovative market leader within the field of text analytics and natural language generation. We are excited to begin working with them and look forward to a long-term and successful partnership.”
Retresco was founded in 2008 and is a leading provider of AI-powered content automation. The company has a team of specialized software developers, linguists, and editors that work to develop innovative semantic solutions in the areas of NLG and Natural Language Understanding (NLU). NLU solutions include content curation and recommendation systems, content classification, and chatbots.
It also specializes in developing semantic applications and communication solutions ranging from automating job references, to real estate listings, and traffic news. Retresco generates more than 5 million texts per month for customers.
For more information, please contact:
Financial Services, Retresco GmbH
+49 (0)30 609 839 600
Dr. Sebastian Köhn
Senior Manager | Risk Advisory, Deloitte GmbH
Phone: +49 (0)40 32080 4448