RAVN ACE Can Help Financial Institutions with Regulatory Compliance
March 31, 2016
Increased regulations in the financial field call for tools that can gather certain information faster and more thoroughly. Bobsguide points to a solution in, “RAVN Systems Releases RAVN ACE for Automated Data Extraction of ISDA Documents Using Artificial Intelligence.” For those who are unaware, ISDA stands for International Swaps and Derivatives Association, and a CSA is a Credit Support Annex. The press release informs us:
“RAVN’s ground-breaking technology, RAVN ACE, joins elements of Artificial Intelligence and information processing to deliver a platform that can read, interpret, extract and summarise content held within ISDA CSAs and other legal documents. It converts unstructured data into structured output, in a fraction of the time it takes a human – and with a higher degree of accuracy. 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. AVN ACE also provides an in-context review and preview of the extracted terms to allow reviewing teams to further validate the data in the context of the original agreement.”
The write-up tells us the platform can identify high-credit-risk relationships and detail the work required to repaper those accounts (that is, to re-draft, re-sign, and re-process paperwork). It also notes that even organizations that have a handle on their contracts can benefit, because the platform can compare terms in actual documents with those in that have been manually abstracted.
Based in London, enterprise search firm RAVN tailors its solutions to the needs of each industry it serves. The company was founded in 2011.
Cynthia Murrell, March 31, 2016