A finance department locates LIBOR clauses in thousands of contracts at 10 times the previous rate

Challenge

The finance department of a leading investment bank wants to assess the impact of a new regulation on its database of contracts. It needs to identify every single LIBOR clause in more than 15,000 contracts. The clauses are not all identical. It is taking an under-resourced team thousands of person days to find all the clauses.

Solution

Our Extract product processes thousands of contracts to:

  • Identify any LIBOR clauses
  • Detect the base rate and alternative rate (if applicable)
  • Create a summary table for an easier overview of the data

Our project

On-Premises rollout

15,000+ documents OCRized

Learning based on fewer than 10 examples

Multilingual extraction

Customer benefits

  • Automatic analysis of thousands of different scanned contracts in several languages
  • Reduced operational risks caused by human error
  • Fast to configure and¬†processing times reduced tenfold
Try the reciTAL platform on your data