UMT expands strategic partnership with AI provider Evy Solutions
- Objective of full business merger
- Self-developed AI-based document management system
- Extension of product portfolio and cross-selling advantages
UMT AG is stepping up its existing strategic partnership with Evy Solutions GmbH with the intention of a full business merger. Since the beginning of the cooperation, Evy Solutions has become one of the leading developers and providers of AI-based document processing and process automation. From order entry to archiving, Evy analyzes and processes all relevant documents and information from written and digital sources.
Unlike other providers in this segment, Evy’s self-developed AI guarantees 100% GDPR/GoBD compliance and is SOC 1 certified. The training is self-learning and fully automated using the company’s own data. This is an invaluable advantage, especially for companies operating across Europe.
In the logistics and transportation markets, the manufacturing industry and credit agencies in Europe alone, around 20 billion documents are processed manually every year. This corresponds to a turnover volume of more than 5 billion euros per year in the EU. Evy Solutions has at least doubled its turnover every year in recent years. Its customers include well-known companies such as Creditreform, Hans Ihro and Antalis.
“The partnership will enable us to utilize UMT AG’s established expertise in mobile payment and smart rental and expand our solution portfolio accordingly. In combination with our specially developed Evy Xpact software, this results in optimized processes that are of enormous benefit to both the provider and the customer,” explains Michael Vogel, Managing Director of Evy Solutions GmbH.
“In the future, the use of artificial intelligence will move into all areas of everyday business and lead to a gigantic shake-up, the effects of which can hardly be foreseen today.
The automation of business processes and document processing based on artificial intelligence is one of the most important areas of immense growth. Our future customers can become more efficient and save costs and time. We are looking forward to the joint projects with Evy Solutions, which ideally complements our own expertise as a digital and scalable key technology. The merger will create a financially strong and expanding company. The plan is to gradually take over the shares of the existing shareholders. The employees and management of both companies will work hand in hand to achieve success,” says Erik Nagel, CEO of UMT AG.
About Evy Solutions:
Evy Solutions is a Cologne-based software and service provider for document processing and analysis using artificial intelligence (AI) developed in-house. The company’s core competence is the AI-based analysis of documents for intelligent process automation. The solutions from Evy Solutions thus achieve high cost and time savings for their customers in the classification, processing and archiving of orders, transport orders, invoices, damage reports and much more. Further information can be found at www.evysolutions.de.
About UMT AG:
As a “technology house”, UMT United Mobility Technology AG stands for the development and implementation of customized solutions for the digitalization of business processes. With Mobile Payment and Smart Rental, UMT has technological platforms for payment, digital rental and now also for communication. The software-oriented technology portfolio now extends far beyond payment and also includes commerce and IoT and forms the basis for future-oriented, integrated products. UMT is now much more than a FinTech company and serves the retail and rental sectors as well as industry. The IT and consulting expertise in e-commerce and payment that has been built up over a decade is the basis for value-creating investments in companies that contribute to the digital transformation of SMEs.
The UMT United Mobility Technology AG share (WKN: A2YN70, ISIN: DE000A2YN702) is traded on the Frankfurt Stock Exchange and is listed on the Basic Board of Deutsche Börse AG.