Apr 30, 2024   SOURCE: BusinessWire

Veritone and OPEXUS Team Up to Provide AI Solutions to National Canadian Bank

Veritone, Inc. (NASDAQ: VERI), a leader in designing human-centered AI solutions, and OPEXUS, a leading provider of government process management software, today announced that a major national bank in Canada is leveraging the OPEXUS ATIPXpress® AI Assist Module, which now includes Veritone’s award-winning Redact solution.

Veritone Redact uses pre-processing and machine learning to support the AI Assist Module by finding, flagging and redacting sensitive information in audio and video data, which may include audio calls between customer service representatives and customers, internal company video conversations or on-premise surveillance footage. Redaction plays an important role in the bank’s efforts to maintain data security, regulatory compliance and trust in financial services. Redacting multimedia files is a time-intensive process, and Veritone Redact is able to help ATIP teams reduce redaction times by up to 90%, helping speed the ATIP request process and meet public demands more quickly.

“Redaction plays a crucial role in many sectors, including government finance, given the importance of complying with Access to Information and Privacy (ATIP) regulations; but manual redaction carries the weight of being time-consuming, error-prone and costly, often lacking the scalability and auditability crucial for large-scale document management,” said Howard Langsam, chief executive officer, OPEXUS. “Fortunately, through our AI Assist module and Veritone Redact, we provide an AI-powered redaction solution capable of effectively handling an uptick in audio and video ATIP requests.”

“As the waves of audio and video data surge, AI-powered redaction is an indispensable tool for modern organizations, offering efficiency and accuracy in safeguarding sensitive information,” said Jon Gacek, general manager for Veritone Public Sector. “By integrating Veritone Redact into their AI Assist module, OPEXUS empowers their customers to effectively navigate the rising tide of ATIP requests, while also improving their ATIP workflows to help save time, money and resources.”

Built on Veritone’s proven aiWARE™ enterprise platform, Veritone Redact enables users to manually define sensitive imagery and objects, including heads and personally identifiable information, and then automatically redacts this information from audio and video documents. It also enables searches for keywords and phrases captured within the recorded audio and quick redaction of those items. To learn more visit: https://www.veritone.com/applications/redact/

The news follows OPEXUS’ recent contract renewal with the federal financial institution, whereby the bank will utilize OPEXUS’ expanded performance ATIP modules including AI Assist, Collaboration Portal, Public Access Link and Electronic Document Review. Given the increase in ATIP requests over the last several years, banks across Canada are seeing the need to modernize their ATIP process. OPEXUS’ expanded performance modules give them and other public agencies the tools they need to fully mature their ATIP programs while modernizing, streamlining and managing complex requests at scale. To learn more visit: https://www.opexustech.com/product/atipxpress/

About OPEXUS

With OPEXUS, get government unstuck. OPEXUS is the leader in FedRAMP-certified government process management software with more than 30 years of experience supporting public institutions. The company brings operational excellence to governments’ middle office so agencies can focus on the critical work of mission delivery. OPEXUS empowers 100,000 government users with exceptional technology experiences and a built-for-government product suite, including solutions for audit, investigations, correspondence, Freedom of Information Act (FOIA) requests, and employee & labor. Located in the heart of Washington D.C., OPEXUS works with more than 150 public institutions in the US and Canada. For more information, visit www.opexustech.com.

About Veritone

Veritone (NASDAQ: VERI) designs human-centered AI solutions. Serving customers in the talent acquisition, media, entertainment and public sector industries, Veritone’s software and services empower individuals at the world’s largest and most recognizable brands to run more efficiently, accelerate decision making and increase profitability. Veritone’s leading enterprise AI platform, aiWARE™, orchestrates an ever-growing ecosystem of machine learning models, transforming data sources into actionable intelligence. By blending human expertise with AI technology, Veritone advances human potential to help organizations solve problems and achieve more than ever before, enhancing lives everywhere. To learn more, visit Veritone.com

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This news release contains forward-looking statements. Without limiting the generality of the foregoing, words such as “may,” “will,” “expect,” “believe,” “anticipate,” “intend,” “could,” “estimate” or “continue” or the negative or other variations thereof or comparable terminology are intended to identify forward-looking statements. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. Assumptions relating to the foregoing involve judgments and risks with respect to various matters which are difficult or impossible to predict accurately and many of which are beyond the control of Veritone. Certain of such judgments and risks are discussed in Veritone’s SEC filings. Although Veritone believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the results contemplated in forward-looking statements will be realized. In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by Veritone or any other person that their objectives or plans will be achieved. Veritone undertakes no obligation to revise the forward-looking statements contained herein to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.