HEXANIKA

What HEXANIKA does

HEXANIKA provides an innovative end-to-end and self-service software platform for data-driven institutions to address data sourcing, management, reporting, control, and governance challenges. It leverages AI and Big Data to automate and consolidate processes, reduce costs, improve data quality and timeliness, and make data easily available for business and functional uses. HEXANIKA also offers strategic advice and managed services around data and AI-driven processes. The company's goal is to make institutions "faster, better, and cheaper" through automation, consolidation, and standardization with simple, smart, and efficient solutions and services.

Products

• HEXA NIKAAn end-to-end data management and prebuilt RegTech solution that reduces costs by delivering usable data and robust regulatory reporting. It features embedded automation, consolidation, standardization, scalability, flexibility, and 100% self-service with no-code/low-code capabilities.
• SmartJoinAn innovative and self-service data solution leveraging patented AI and Big Data algorithms to address data quality, governance, and data management costs. It automates and consolidates heterogeneous, manual, fragmented, and complex data management processes (sourcing, ingestion, aggregation, consolidation) and reporting, leading to effective and efficient business processes. It also leverages open-source technology for lower cost of ownership.
• SmartRegA regulatory compliance solution built on the SmartJoin platform that automates regulatory compliance using Artificial Intelligence. It provides 100% data lineage and transparency, along with significant cost savings. It is built on principles of reusability, flexibility, and traceability, and includes a library of pre-built regulatory reports.
• SmartPlaceA solution marketplace built on the SmartJoin platform, offering industry-focused, out-of-the-box solutions. It empowers clients and partners to access AI-enabled solutions with the ability to reuse data and rules using the Cascading Data Model and Pre-Built Rules Engine.
• SMARTBUILDAn AI-driven customized solution development accelerator that leverages the end-to-end data management platform SmartJoin and its engineering capabilities to enable innovative solutions based on Big Data and Artificial Intelligence.

Key capabilities

• End-to-end data management and prebuilt RegTech solutions
• Embedded automation, consolidation, and standardization
• Scalable and flexible (Cloud, Big Data, AI)
• 100% self-service (No Code/Low Code)
• Patented algorithms based on Artificial Intelligence (AI) and Big Data
• Lower cost of ownership through open source technology
• Automate and consolidate data sourcing, ingestion, aggregation, and reporting
• Robust, scalable, and technology-agnostic architecture
• 100% data lineage and transparency
• Seamless regulatory change management
• Automated inter-intra reports reconciliation
• CFO Attestation capabilities
• BCBS 239 Compliant governance features
• Regulatory Reports Library (pre-built and customizable)
• AI Components: Data Profiler, Rules Predictor, Mapping Predictor
• Engines: Ingestion Engine, Rules Engine, Cascading Rules Engine
• High ROI
• Enables Automation
• Enables Consolidation
• Technology Ease
• Easy Adaption
• Configurable
• Platform / Infrastructure Agnostic
• Compliant
• Secure
• Up to Date
• Future-proof
• Easy to change / update
• Scalable
• Leverages advanced technologies: AI / ML
• Descriptive and predictive analytics techniques
• Automated and embedded governance frameworks
• Cloud / SaaS deployment option
• On-Premise deployment option
• Platform Agnostic (Mainframe, Hadoop, Spark, etc.)

Use cases

• Reduce data management and engineering costs with automation
• Consolidation of multiple software and processes with 100% governance and control
• Make data easily available to business or functional uses
• Improve data quality and timeliness
• Data sourcing, management, reporting, control, and governance challenges
• Fair Lending/HMDA Reporting
• Regulatory reporting automation
• Data quality improvement
• Data governance
• Cost of data management reduction
• AI-Based Fraud / Event Detection Solution for Financial Services & Healthcare
• Billing Analytics and Reporting for Insurance
• Data Lineage & Process Automation
• Faster Time To Reporting
• Faster Time To Build
• Automate regulatory compliance
• Complex change management in reporting solutions
• Managing frequent regulatory changes
• Managing various regulatory reporting templates and formats
• Addressing manual reporting processes
• Resolving data quality and computational issues in reports
• Managing disparate data sources and processes for auditability and lineage
• Collecting data from multiple sources for reporting
• Consolidating and preparing data for reporting
• Managing rules for generating reports
• Integrating new or changes to data sources
• Meeting timely reporting deadlines
• Automating AML analytics
• Cloud-based data monetization
• Reconciliation of transactions across multiple data streams
• Identifying duplicate and inconsistent entries in data
• Addressing lack of standard naming conventions and attributes in data
• Building customer master data (data discovery, cleansing, deduplication, survivorship, manual validation, updating)
• Improving data quality for KYC management and channel strategy
• Geographic profiling of customers
• Deduplication services with zero downtime
• Customer acquisition, retention, cross-sale, and up-sale of financial products
• Improving customer experience

AI approach

HEXANIKA leverages AI and machine learning to automate data management, regulatory reporting, and provide data-driven insights. They use proprietary patented algorithms and also integrate open-source AI-driven model libraries like Python and R. Their AI components include Data Profiler, Rules Predictor, Mapping Predictor, and Engines for Ingestion, Rules, and Cascading Rules. They aim to build an 'autonomous car for data management'.

Tech named: Artificial Intelligence, Machine Learning, Big Data, Python, R, Hadoop, Spark

Industries served

• Financial Services
• Banking
• Insurance
• Life Sciences
• Pharma
• Healthcare

What it says sets it apart

• Only integrated data platform & solution company
• AI-Driven Accelerated Custom Solution Development Platform
• New-edge Data Product / Data-Driven Software Experience
• Strong Domain-Based Solutions Knowledge
• People With Patents in Data & Artificial intelligence
• Global Delivery Model
• Deep Solution Expertize
• Scalability With Global Operations & Resources
• Faster Onboarding & Deployment
• Existing Relationship & Reputation
• Zero Capex
• Simple, Smart & Efficient solutions
• End-to-End: Data Management & Prebuilt RegTech Solutions
• Embedded Automation, Consolidation & Standardization
• Scalable & Flexible: Cloud, Big Data, & Artificial Intelligence (AI)
• 100% Self Service – No Code/Low Code
• Proven Results: >50% Cost Savings
• Faster Deployment
• Continuous Innovation With Clients
• Innovation Driven Vision, Mission and Strategy
• Embedded Automation Via Trained Models
• Embedded Intelligence in Product From Data Science Expertise
• Managed Services Solutions
• End-to-End Regulatory Reporting Solution
• Customizable & Configurable Reports
• Auto Updates As Per Compliance Requirements
• Patented algorithms based on Artificial Intelligence (AI) and Big Data
• Lower cost of ownership by leveraging open source technology
• Robust, scalable and technology agnostic architecture
• Built on principles of reusability, flexibility and traceability
• 100% data lineage and transparency
• BCBS 239 Compliant
• Proprietary patented algorithms for data management automation
• Vision to build an autonomous car for data management
• Integrates and leverages open source AI driven model libraries like Python, R
• Patented technology based on artificial intelligence architecture and patented AI-based algorithms