Foyer Group relies on Lingua Custodia's artificial intelligence for its translations

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The meeting takes place in June 2018, during the KPMG Fintech Awards ceremony, of which Lingua Custodia is one of the winners. During this evening, the first exchanges between the leading insurance company in Luxembourg and the French Fintech company are promising.

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29/10/2019 |
  • Foyer

Lingua Custodia, a translation specialist, has great assets to conquer an intrinsically multilingual Luxembourg market. Since then, the collaboration between the newly established Fintech company in Luxembourg and Foyer has grown.

Towards a simplification of translation processes

Foyer has always addressed its customers and partners in the language of their choice. It is therefore to improve and harmonize its translation processes that it has chosen to enter into a partnership with Lingua Custodia. Foyer Group is thus contributing to the creation of a first translation engine specific to the insurance sector and it benefits from quality machine translation services, accessible via the "Verto" online platform. The use of this portal makes it possible to simplify flows, facilitate exchanges and considerably shorten processing times.

Artificial intelligence and continuous learning

Speed, competitiveness, quality of translation, Lingua Custodia has many advantages, and the Fintech’s objectives are clear: to reduce the costs of translations of financial documents, to minimize management time, while guaranteeing the security of the data exchanged. Over time, translation engines feed on translations made using artificial intelligence technology called Machine Learning.

A win-win partnership

For its part, through various collaborations with several Fintechs (recently Finologee), Foyer is pursuing its innovation strategy aimed at building synergies with technology start-ups. This partnership between Foyer and Lingua Custodia once again illustrates the desire to create a stable and lasting relationship between the innovative Fintech ecosystem and Luxembourg's leading insurance company.

Michel Etienne, Foyer’s IT Correspondent for the Business:

"Luxembourg is by essence and tradition a multilingual environment. Speaking to the clients in the language of their choice has always been a priority at Foyer, in order to serve them as well as possible. Made possible by our actions within the ecosystem of innovation in Luxembourg, this new technological partnership resorting to artificial intelligence will accelerate our translation process while making it ever more reliable and efficient, for the benefit of our national and international customers.”

Frédéric Moioli, CEO of Lingua Custodia Luxembourg:

"The Fintech culture of Foyer's teams and our expertise in Machine Learning applied to financial translation naturally led us to develop together our first automated translation engine specialized in insurance. This collaboration represents the first contract signed by Lingua Custodia Luxembourg, a new subsidiary inaugurated on October 10th. Our team of course intends to offer our solutions on the Luxembourg market, but also to bring them to all European markets.”

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