TSL Express Daily News
The Secured Lender
SFNet's 80th Annual Convention Issue
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Top 5 Apps for Organizing
Mar 7, 2019If you’re like most of us, we try to stay organized in business and life, but it gets increasingly complicated…
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The Importance of Stretching
Mar 7, 2019Every personal trainer and athletic coach I have ever worked with has stressed the importance of stretching. When working out…
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SFNet's 40 Under 40 Award Winners Panel Recap
Mar 6, 2019Moderator: Samantha Alexander, regional underwriting manager, Wells Fargo Capital Finance’s Corporate Asset Based Lending group and 2016 CFA 40 Under…
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SFNet's Inaugural YoPro Leadership Summit
Mar 6, 2019The Secured Finance Network brought together the next generation of commercial finance leaders for a full day of learning and…
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It’s a Marathon, Not a Sprint
Aug 22, 2018I was recently invited to participate in an executive panel to answer questions from a credit training class comprised of...
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It’s Not Too Late – Five Member Benefits to Cash In On Now
Aug 1, 2018As we hit the half way mark on calendar year 2018, it is a good time to take stock and…
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It’s Time To Break Up With Your Phone
Jul 18, 2018Do I have your attention? Let’s be honest here: do you have the attention span to read this article? Compared…
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Lien Management – What You Need to Know
Jun 6, 2018UCC filing is the cornerstone of all loans and every lien portfolio...
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Potential Impacts of Blockchain on Commercial Lending
Jan 15, 2018By Raja Sengupta, Executive Vice President and General Manager, Wolters Kluwer’s Lien Solutions When it comes to the rising importance…
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How to be a Good Leader
Dec 5, 2017I know what you’re thinking…another article about how to be a good leader? The short answer is yes…but this time,…
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Fintech and Due Diligence – Disruptors and Established Firms Evolve
Oct 30, 2017The fintech sector has gone through a number of manifestations in the past two decades.
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A Commercial Banker’s Tickler Transition Plan
Oct 18, 2017Just do a keyword search for “bank tickler,” and you’ll quickly realize that banks are still heavily reliant on manual…
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Understanding and Developing Your Personal Brand: Four Steps to a More Intentional Career Progression
Sep 5, 2017It is imperative for individuals to have a general idea about their future career aspirations, just as companies should have clearly defined strategies.
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Selecting a Technology Vendor: 3 Questions to Ask
Jul 5, 2017As with anything else at your bank, selecting a technology vendor can be a challenging decision. Users from across different…
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Why Back-Office Lending Automation Enhances Customer Satisfaction
Apr 25, 2017Every bank strives to keep its customers happy. Of course, some institutions are better at achieving this goal than…
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The Lost Art of the Loan Purchase
Mar 2, 2017Purchasing a loan directly from a bank whether at par or discount is a not-often-used technique that is easily…
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Audit Prep: Why a Paperless Approach Makes Sense
Feb 15, 2017How much time does your financial institution spend preparing for audits? We recently surveyed 187 community banks, and the results…
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Back Office Support Services: Helping you approve more clients
Feb 7, 2017How many times have you come across a potential client who’s financials are either not up to date, not accurate,…
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“All Assets” is the Key When Drafting UCC-1 Financing Statement Collateral Descriptions
Jan 30, 2017Even when prepared by outside or in-house counsel, many lenders pay close attention to draft UCC financing statements before they…
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Paper Loan Files: Does Your Bank Know the True Cost?
Jan 12, 2017Sure, there’s a tangible cost associated with deploying an electronic loan imaging system. Software, support, and scanning hardware are just…
August 1, 2024
Source: Businesswire
TORONTO--(BUSINESS WIRE)--CIBC Innovation Banking announced today that it has provided $4.5M CAD in growth capital financing to support Wisedocs’ mission to both further broaden its client base and to expand its product offering. Wisedocs’ artificial intelligence (AI) software platform summarizes claim files for the insurance industry to enable fast and inexpensive medical record reviews.
“The CIBC innovation banking team is phenomenal to work with. They have a deep understanding of our business needs, the requirements of a high growth tech company, and the need for dynamic banking solutions to expand globally. We are excited to continue to accelerate our growth with an amazing partner like CIBC," said Connor Atchison, Chief Executive Officer of Wisedocs.
Insurance carriers, legal firms, as well as third-party medical examiners within the insurance ecosystem leverage Wisedocs’ AI-driven platform to efficiently deliver meaningful reviews of complex medical records. With this support from CIBC, Wisedocs is poised to continue its role as a market leader in the industry to manage the claims process within an intelligent technology platform leveraging state-of-the-art generative AI. Following an oversubscribed Series A financing round of $12.7M in January 2024, CIBC’s investment enables in the company’s continued growth and expansion.
“We are thrilled to support Wisedocs to enable the company to continue delivering best-in-class solutions to its clients while further expanding its sales footprint” said Niramay, Director, CIBC Innovation Banking. "Wisedocs has crafted a unique way to challenge and solve inefficiencies in the medical claims process and is therefore generating tremendous interest from key players in the industry globally.”
About CIBC Innovation Banking
CIBC Innovation Banking delivers strategic advice, cash management and funding to innovation companies across North America, the UK, and select European countries at each stage of their business cycle, from start up to IPO and beyond. With offices in Atlanta, Austin, Boston, Chicago, Denver, Durham, London, Menlo Park, Montreal, New York, Reston, San Francisco, Seattle, Toronto and Vancouver, the team has extensive experience and a strong, collaborative approach that extends across CIBC’s commercial banking, private banking, wealth management and capital markets businesses.
About Wisedocs
Wisedocs is the medical record indexing, review, and AI summaries software platform for insurance carriers, healthcare providers, law firms, and TPAs. The company serves the auto, liability, disability, workers’ compensation, tort law, and similar markets. It provides an easy-to-integrate solution for improved accuracy and speed to deliver improved outcomes in processing medical records. Wisedocs raised $12.7M in an oversubscribed series A round in 2024 and launched their game-changing AI Medical Summaries platform in 2023. Launched in 2021, and expanded across North America, Wisedocs is at the forefront of change in the claims ecosystem.
Contacts
Beth McKay, beth.mckay@cibc.com, 416-552-1391
Wisedocs:
Jenna Earnhaw, Co-Founder & COO, jenna@wisedocs.com
Amy Mingopoulos, Marketing Coordinator, marketing@wisedocs.com