HKTDC Hong Kong Means Business – 26 November 2021
Read more: https://hkmb.hktdc.com/en/1X0ALZEP/market-spotlight/Wizz-through-the-paperwork
Wizpresso Streamlines IPO Document Verification with Innovative AI Solutions
Hong Kong – Wizpresso, a cutting-edge software-as-a-service (SaaS) provider, is making waves in the financial sector by significantly reducing the time required for IPO document verification. With its advanced natural language processing (NLP) and deep-learning technologies, Wizpresso aims to help bankers and lawyers cut verification time by up to 75%.
As the demand for efficient document processing escalates in Hong Kong’s bustling IPO market, Wizpresso offers a suite of innovative tools tailored for investment banks, international law firms, and multinational corporations. Key products include “Factify,” which automates the reading and verification of IPO documents, “Search,” which gathers critical market insights, and “Compose,” a document automation solution.
Calvin Cheng, Founder and CEO of Wizpresso, commented, “Having worked in the banking industry, I understand the challenges professionals face when dealing with extensive documentation. Our AI-driven solutions are designed to alleviate these pain points, allowing users to focus on high-value tasks rather than tedious data processing.”
The development of Wizpresso’s tools is a result of rigorous training using a vast dataset, including 100,000 documents, enhancing the AI’s analytical capabilities to an impressive 95% accuracy. With a growing repository of 50 million public documents from listed companies, Wizpresso ensures users receive precise review suggestions quickly.
In addition to enhancing operational efficiency, Wizpresso is committed to fostering new talent through internship programs with local universities. The company has expanded its team to approximately 30 staff members and is actively seeking to raise $5 million in pre-Series A funding to further enhance its products and penetrate international markets, including the UK, Singapore, and Australia.
Recognized as a Huawei Ecosystem Partner, Wizpresso is also focused on establishing a presence in the Guangdong-Hong Kong-Macao Greater Bay Area, where financial markets are rapidly evolving. “Our vision is to become the go-to solution for newly listed companies, facilitating seamless connections between stakeholders like lawyers, auditors, and financial advisors,” Cheng added.
As a proud winner of the HKTDC’s Start-up Express programme, Wizpresso is grateful for the recognition, which has bolstered its brand reputation and staff morale. Cheng is optimistic about fu