Innodata Lands Five-Year Contract with one of the World's Largest Banks

Innodata Lands Five-Year Contract with Leading Multinational Bank

Anticipates Approximately $11 Million in Subscription Revenue over Five-Year Term

NEW YORK, NY / ACCESSWIRE / September 23, 2021 / Innodata Inc. (NASDAQ:INOD), a leading data engineering company, today announced that it has won a contract with one of the world’s largest banks to provide AI-enhanced data feeds and a data analytics platform. Innodata anticipates the five-year contract will result in approximately $2 million per year in subscription revenue during the initial two years and approximately $2.4 million per year in subscription revenue thereafter.

“Financial services companies are increasingly seeking to harness intelligent document processing (IDP), the application of AI on complex unstructured data and business documents,” said Jack Abuhoff, Chief Executive Officer at Innodata. “IDP helps businesses solve real-world challenges they encounter when analyzing vast quantities of data and documents. By applying our proprietary AI document processing technologies and garnering insights through our SaaS analytics application, we will help the bank streamline processes, improve operational efficiency, and drive improvements in analytics.

“The terms of our arrangement with this bank enable us to use the data and platforms we develop as a foundation for a generalized industry solution,” Abuhoff continued. “As a result of our engagement, we expect to be in the privileged position of understanding the detailed requirements of one of the most demanding market participants. In this way, we anticipate having a formidable industry reference and that future general product releases will be on-target for optimal product/market fit.”

About Innodata

Innodata (NASDAQ:INOD) is a leading data engineering company. Prestigious companies across the globe turn to Innodata for help with their biggest data challenges. By combining advanced machine learning and artificial intelligence (ML/AI) technologies, a global workforce of over 3,500 subject matter experts, and a high-security infrastructure, we’re helping usher in the promise of digital data and ubiquitous AI. Visit to learn more.

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(NASDAQ: INOD) Innodata is a global data engineering company delivering the promise of AI to many of the world’s most prestigious companies. We provide AI-enabled software platforms and managed services for AI data collection/annotation, AI digital transformation, and industry-specific business processes. Our low-code Innodata AI technology platform is at the core of our offerings. In every relationship, we honor our 30+ year legacy delivering the highest quality data and outstanding service to our customers.


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