The brief

LIKEZERO were engaged by a world leading data provider (‘the client’) to extract key terms within Loans documentation (Master Credit Agreements) covering $100 trillion in notional amount. The client was looking to reduce the new document turn around time by 50% through automating the collection of data.

LIKEZERO was chosen over and above competitors, as our software was proven to be flexible enough to handle complexities commonly found with loan documentation such as multiple facilities under a single agreement.

What we delivered

85%

REDUCTION ON THE LOAN REVIEW PROCESS

99%

ACCURACY ON RECONCILED DATA AGAINST SOURCE SYSTEM

300+

PAGES PER AGREEMENT

33+

DATA POINTS COLLECTED PER DOCUMENT

Outcomes

  • Rapidly customized the data model by adding additional terms, attributes and enumerations without product development.
  • Processed amendments with a view of codification showing the effect of the amendment i.e. linkage between facility agreement and associated amends.
  • Intra-document complexities were automatically linked by the system.
  • The system automatically created a chronological chain of the contract giving a full history of document changes through amendments.
  • Collected additional data that the client did not previously capture i.e. clauses associated with Incremental Facilities and additional Parties to the contracts.
  • Managed data model enhancements without impacting previously captured data.
  • All new clauses that were identified in the system, were automatically added to the Clause Library for re use.

Let’s talk about your challenges

CONTACT US