Hamstrung by a headcount freeze, Firm D’s legal department identifies document data extraction and close-out netting determinations as two key areas in which AI might enable it to do more with less.

Ark 51 ticks all of Firm D’s requirements in this area:

• Its close-out netting and collateral opinions module enables Firm D to vastly reduce the burden associated with the legal opinions reviews that are required for the purposes of EMIR compliance.
• Its AI-powered contract repository hugely reduces the time taken by Firm D to extract data from executed documentation – increasing its ability to serve the contract data needs of key risk and front-office stakeholders and releasing much-needed resource to focus on higher-value risk areas.
• Its netting engine enables Firm D’s documentation unit to generate pre-trade netting determinations – facilitating quicker, smarter decisions as to whether potential trades are a good use of the firm’s limited resources and balance sheet BEFORE committing to an abortive negotiation.
• Its analytics and reporting suite enables key stakeholders of the legal team to self-serve – freeing internal resource to focus elsewhere.
• Its clause library helps the documentation unit to better manage risk – highlighting the clauses that must be included in documentation with different counterparty types.

From an ROI perspective, the benefits associated with Ark 51 dwarf the initial investment made in the platform.  Firm D’s investment in a specific and focused AI technology solution revolutionises the way in which it serves the data needs of its key stakeholders – enhancing compliance, increasing operational efficiency, reducing time to market and enabling it to better capitalise on commercial opportunity.