North Side Inc

Last updated

North Side is a software company based in Montreal. It was founded in 2000, and over the years, the company has been developing natural language understanding and natural language generation (together, dialogue) software since 2001.

Contents

History

The company was founded by Eugene Joseph in 2000, after his first company, Virtual Prototypes Inc., went public on the Toronto Stock Exchange in July 1999; that company currently operates as Presagis, a subsidiary of CAE. [1] In the early 2000s, North Side did R&D work funded in part by the Canadian Department of National Defence and National Research Council and Telefilm Canada. [2] In 2007, North Side embarked on the development of Bot Colony , the first video game making coherent English dialogue with the characters an integral part of gameplay. [ citation needed ] At its peak, in 2014, this team had 45 members. The game development was financed in part by the Canada Media Fund and the first two episodes of Bot Colony were launched on Steam on June 17, 2014. The company claimed to have spent approximately $23 million on the project by its shutdown in 2015, of which around $20 million went towards R&D in natural language understanding. [3]

Current activities

The company launched VerbalAccess [4] at Finovate in New York City on September 16, 2015. [5] VerbalAccess provides an English interface to financial services in English. [6] VerbalAccess is intended to allow people to send transactions through speech, or via text-messages. The knowledge base of VerbalAccess spans financial services encompassing banking, credit cards, creditworthiness and loans, savings, and to a more limited extent, insurance and investments. [7]

Technology

For Bot Colony, North Side added a semantic reasoner to the natural language understanding pipeline, which is able to reason on logical axioms expressed in English (the equivalent of Prolog with predicates in English) and on formalized procedural knowledge expressed in English. A key feature distinguishing North Side's technology from an intelligent personal assistant based on machine learning, such as Apple's Siri or Google's Now, is its ability to clarify ambiguous or incomplete input and handle paraphrases, using a deterministic, rule-based approach.[ citation needed ] North Side relies on advances in parsing and disambiguation to understand language more precisely, making financial transactions through voice or text-messaging feasible. [8] The underlying database technology supporting North Side's NLU technology is the Versant Object Database from Actian.

Related Research Articles

<span class="mw-page-title-main">Chatbot</span> Program that simulates conversation

A chatbot is a software application or web interface that is designed to mimic human conversation through text or voice interactions. Modern chatbots are typically online and use generative artificial intelligence systems that are capable of maintaining a conversation with a user in natural language and simulating the way a human would behave as a conversational partner. Such chatbots often use deep learning and natural language processing, but simpler chatbots have existed for decades.

<span class="mw-page-title-main">Online banking</span> Internet-based financial transactions

Online banking, also known as internet banking, virtual banking, web banking or home banking, is a system that enables customers of a bank or other financial institution to conduct a range of financial transactions through the financial institution's website or mobile app. Since the early 2000s this has become the most common way that customers access their bank accounts.

<span class="mw-page-title-main">Intuit</span> American financial software company

Intuit Inc. is an American multinational business software company that specializes in financial software. The company is headquartered in Mountain View, California, and the CEO is Sasan Goodarzi. Intuit's products include the tax preparation application TurboTax, personal finance app Mint, the small business accounting program QuickBooks, the credit monitoring service Credit Karma, and email marketing platform Mailchimp. As of 2019, more than 95% of its revenues and earnings come from its activities within the United States.

<span class="mw-page-title-main">Mobile banking</span> Service provided by a bank

Mobile banking is a service provided by a bank or other financial institution that allows its customers to conduct financial transactions remotely using a mobile device such as a smartphone or tablet. Unlike the related internet banking it uses software, usually called an app, provided by the financial institution for the purpose. Mobile banking is usually available on a 24-hour basis. Some financial institutions have restrictions on which accounts may be accessed through mobile banking, as well as a limit on the amount that can be transacted. Mobile banking is dependent on the availability of an internet or data connection to the mobile device.

<span class="mw-page-title-main">Finastra</span> Software companies of the United Kingdom

Finastra is a financial software company headquartered in London, England. The company offers a portfolio of products and solutions to the retail banking, transaction banking, lending, and treasury capital markets. Finastra was formed in 2017 by the combination of London-based Misys, a provider of financial operations software, and global payments and lending technology provider D+H. At the time of its formation, Finastra was considered the third-largest financial services company in the world.

Temenos AG is a company specialising in enterprise software for banks and financial services, with its headquarters in Geneva, Switzerland. Temenos was initially created in 1993, and has been listed on the Swiss stock exchange since 2001.

Wizzit is a provider of basic banking services for the unbanked and underbanked in South Africa. Its services are based on the use of mobile phones for accessing bank accounts and conducting transactions, in addition to a Maestro debit card that is issued to all customers upon registration. Wizzit is a branchless banking business, meaning that its services are designed so that customers can generally conduct transactions without the need to visit bank branches.

The National Payments Corporation of India is an organization that operates retail payments and settlement systems in India. The organization is an initiative of the Reserve Bank of India (RBI) and the Indian Banks’ Association (IBA) under the provisions of the Payment and Settlement Systems Act, 2007, for creating a robust Payment & Settlement Infrastructure in India.

<i>Bot Colony</i> Video game

Bot Colony is an episodic adventure game by Montreal developer North Side Inc. In the game, the player uses a natural language parser to converse with robot characters. The game is played through a PC client, whose major functions are running the 3D world, speech-to-text, and communication with the server, the game's language processing and reasoning running on a server farm. The developer has written a novel of the same name, published in December 2010.

<span class="mw-page-title-main">Guardian Analytics</span> Technology company

Nice Actimize acquired Guardian Analytics, an American privately held company headquartered in Mountain View, California, in August 2020 which provides behavioral analytics and machine learning technology for preventing banking fraud. It was established in 2005 and its products are based on anomaly detection to monitor financial transactions.

Numbrs Personal Finance AG is a financial technology company based in Switzerland. The company offers an app called Numbrs that aggregates bank account and credit card information and facilitates mobile banking and personal financial planning.

<span class="mw-page-title-main">Stellar (payment network)</span> Cryptocurrency

Stellar, or Stellar Lumens, is an open-source, decentralized protocol for digital currency to fiat money low-cost transfers which allows cross-border transactions between any pair of currencies. The Stellar protocol is supported by a Delaware nonprofit corporation, the Stellar Development Foundation, though this organization does not enjoy 501(c)(3) tax-exempt status with the IRS.

<span class="mw-page-title-main">TipRanks</span> Israeli financial technology company

TipRanks is a financial technology company that uses artificial intelligence to analyze financial big data to provide stock market research tools for retail investors. The TipRanks Financial Accountability Engine scans and analyzes financial websites, corporate filings submitted to the SEC, and analyst ratings, to rank financial experts in real time.

<span class="mw-page-title-main">EyeVerify</span>

EyeVerify, Inc. is a biometric security technology company based in Kansas City, Missouri owned by Ant Group. Its chief product, Eyeprint ID, provides verification using eye veins and other micro-features in and around the eye. Images of the human eye are used to authenticate mobile device users. EyeVerify licenses its software for use in mobile banking applications, such as those offered by Tangerine Bank, NCR/Digital Insight and Wells Fargo.

ThetaRay is a fintech software and big data analytics company with headquarters in Hod HaSharon, Israel and New York, and offices in Madrid, London, and Singapore.

Voleo is a Canadian-based financial services company, headquartered in Vancouver, BC. Voleo is transforming retail investing through its collaborative investment club platform. Voleo enables users to form investment clubs with people they trust to democratically manage a portfolio in publicly traded securities. Voleo has increased retail investor participation in the stock market by breaking down barriers to entry, facilitating trust and improving financial literacy.

Paul Kruszewski is a Canadian AI technologist and serial entrepreneur known for his work in artificial intelligence and computer graphics. He is the founder and CEO of wrnch, an AI and computer vision software engineering company based in Montreal, Quebec. He has founded three AI startups, including wrnch, specializing in crowd simulation, NPC behaviours, and human pose estimation. His projects have gradually gotten more complex as he's moved from developing AI software capable of understanding many people doing simple tasks to fewer people engaged in more complex tasks to perfect knowledge of individual body language.

Biz2Credit is an online financing platform for small businesses. The company provides direct funding to small businesses across the United States. The company is known for its financing products, educational resources for business such as the BizAnalyzer, and research that it publishes periodically, including the Small Business Lending Index, and its subsidiary SaaS business lending platform Biz2X.

nCino is a financial technology company headquartered in Wilmington, North Carolina. The company's cloud-based banking software helps financial institutions to gain efficiencies from digitizing and streamlining processes in commercial banking, small business banking, and retail banking. Pierre Naudé has served as CEO of nCino since its inception. The company's Bank Operating System is used by banks and credit unions with assets ranging from $30 million to $2 trillion. As of 2022, nCino is used in more than 1,750 financial institutions. nCino's customers include TD Bank, Truist Financial, and Santander Bank. nCino's strategic partners include Accenture, Deloitte Digital, PwC and West Monroe Partners.

ComplyAdvantage, founded in 2014, is a RegTech company that provides software to help detect and manage risks associated with AML and Fraud. The company uses artificial intelligence, machine learning and natural language processing to help regulated organisations manage risk obligations and counteract financial crime.

References

  1. Presagis website
  2. See end of Bot Colony paper.
  3. "Steam :: Bot Colony :: Pulling the plug on Bot Colony". store.steampowered.com. 2015-01-28. Retrieved 2024-02-23.
  4. Penn, David (2015-09-16). "North Side Launches VerbalAccess to Bring Natural Language Technology to Online Banking". Finovate. Retrieved 2024-02-23.
  5. "North Side to launch automated conversational tool for finance". Finextra Research. 2015-09-14. Retrieved 2024-02-23.
  6. Penny Crosman (February 9, 2017). "As chatbots take hold, banks have their pick of styles". American Banker .
  7. "Canadian firms included in ranking of world's 100 top fintech companies". Investment Executive. 2016-10-25. Retrieved 2023-12-14.
  8. North Side. "Verbal Access". YouTube (videos). Retrieved April 21, 2017.