Solving the Contract Analytics Imperative: technology, people, and process

Not doing so has been legislated as an unacceptable risk to the stability of the domestic and international financial system. In addition to external pressure, many financial organizations are increasingly viewing the need to understand the contents of their contracts as a vital internal operational interest.
But contracts are often in large sets of unstructured, highly dispersed formats. There are specific challenges posed by the nature of these contracts, which typically impact large custodian banks and insurers the most.
In general, both types of organizations have a set of counterparties that have evolved as well as a high number of historical contracts, those with risk aspects that change over time, and contracts with jurisdictional complexities. For many institutions, the need to uncover and address these risks is driven by programs designed to ensure compliance with the Recovery and Resolution Planning regulation.