Search Vendor RAVN Systems Embraces Buzzwords
February 19, 2016
The article titled RAVN Systems Releases RAVN ACE for Automated Data Extraction of ISDA Documents Using Artificial Intelligence on BobsGuide details the needs of banks and other members of the derivatives market. Risk mitigation leads to ongoing negotiations that result in major documentation issues to keep up with the changes. The article explains how RAVN has met these challenges,
“RAVN ACE can extract the structure of the agreement, the clauses and sub-clauses, which can be very useful for subsequent re-negotiation purposes. It then further extracts the key definitions from the contract, including collateral data from tabular formats within the credit support annexes. All this data is made available for input to contract or collateral management and margining systems or can simply be provided as an Excel or XML output for analysis.”
Not only does RAVN ACE do the work in a fraction of the amount of time it would take a person, the output is also far more accurate, always good news when handling legal documents. The service also includes an audit service that compares terms from the documents with the manual abstraction. By doing so, RAVN ACE is able to analyze the risks and even estimate the amount of negotiating necessary to complete the contract.
Chelsea Kerwin, February 19, 2016