FSI and FiinGroup have officially kicked off the “OCR financial data for digital transformation” project with the aim of creating an automated and real-time financial database for FiinGroup’s management and operations. This is considered an important project to help FiinGroup accelerate digital transformation in 2024.
The Path to “Big Data” Begins with Digitizing Small Characters
In today’s financial market, especially in Vietnam, there is an explosion of data volume. According to a report from Statista, the global financial market is expected to reach a value of $26.5 trillion by 2022, with an annual growth rate of around 6%. Meanwhile, Vietnam is emerging as one of the fastest-growing financial markets in Southeast Asia, with an average growth rate of around 10% per year.
Against this backdrop, the timely and accurate collection and processing of financial data has become a critical element for organizations providing data analytics services.
Recognizing the market’s urgent demand, FiinGroup – a leading provider of financial data, business information, industry analysis, consulting, credit ratings, and other data analytics services through technology platforms, subscription systems, and on-demand services – has embarked on a comprehensive digital transformation journey with the vision of establishing data as the cornerstone of all organizational operations.

In line with its vision to deliver not only more, but also faster and more accurate information, FiinGroup has been actively adopting various data technologies, AI, and robotics to enhance data processing and analysis capabilities. One of the company’s key digital transformation projects in 2024 is the automation of data extraction from financial reports of companies, banks, securities firms, insurance companies, and funds into FiinGroup’s centralized database in real-time.
Previously, financial reports were manually processed by staff, leading to suboptimal processing times, increased costs, and potential errors due to the lack of stringent verification and data latency. These limitations posed a significant challenge to FiinGroup’s goal of providing “the fastest information” as the volume and demand for financial data continue to grow.
To address these challenges, FiinGroup sought a solution that could automatically extract and classify financial information in real-time with high accuracy and security, minimizing reliance on manual processing. This would enable FiinGroup to redirect resources towards research, analysis, and service development, ultimately enhancing overall quality and efficiency.
At the project kickoff event, FiinGroup’s CTO, Mr. Bui Thanh Trung, stated: “Speed and accuracy are crucial to our competitive edge. Therefore, AI-powered technology solutions like FSI’s OCR solution align perfectly with our goal of achieving operational excellence.”
Embracing AI-Powered OCR form FSI for Real-Time Financial Data Processing
The solution chosen by FiinGroup to accompany the “Financial Data Digital Transformation” project is the automatic information recognition and extraction (OCR) solution, also known as IONE – an AI-powered technology researched and developed by FSI since 2016 with numerous awards and high appreciation from customers.

FSI’s OCR technology, after many rounds of demos and real-world testing, has convinced FiinGroup with its ability to recognize extracted information with an accuracy of up to 99% and a parallel processing performance of 2s/page, helping the system to process data automatically, continuously, accurately and quickly.
In response to FiinGroup’s specific data extraction requirements, FSI’s engineers have customized their OCR technology to ensure that data is extracted automatically, continuously, and in the correct fields. The documents processed include daily financial documents, ranging from stocks, bonds, IPOs, M&A to macroeconomic indicators.
This not only minimizes processing time but also ensures that data is updated quickly and accurately, enabling FiinGroup to always provide the latest information to its customers. With high accuracy, critical financial information is extracted and stored automatically, thereby enhancing the reliability of the reports and analyses that FiinGroup provides to financial institutions, investors, and fund management companies.
Leveraging AI technologies such as machine learning and deep learning, the accuracy and processing speed of the technology will be continuously upgraded and improved during use. This enables FSI’s OCR solution to well meet FiinGroup’s future expansion requirements.
During the working session, the goals, scope, and deployment roadmap of the project were also agreed upon by FiinGroup and FSI. Representing FSI, Mr. Le Duc Vien, Director of the Solution and Technology Business Center, said: “We highly appreciate the agility and determination of FiinGroup’s leadership in capturing the market and technology trends. FSI is committed to providing maximum resources and is determined to accompany FiinGroup in successfully implementing the project.”