LPA partners with OpenRisk to enhance documentation digitization in markets

Rick Steves

“With Contract Navigator, we can now offer advanced analytics, fully automated loan booking, data integration with REST APIs, a clause library to ease and speed up the negotiation and generation of trading agreements or any other type of financial markets documents.”

LPA has enhanced its Contract Navigator solution by integrating OpenRisk’s micro-services into its offering, thus delivering an improved document digitization and advanced analytics.

LPA’s Contract Navigator offers a substitute of paper documents in capital and debt markets by providing a high-impact digital interface. OpenRisk is capable of enhancing the solution by introducing computer vision, semantic web, state-of-the-art natural language processing, and machine learning algorithms for significant increase in productivity and efficiencies.

The OpenRisk platform transforms legal language and tabular data into readily usable facts, rules, and executable mathematical expressions.

OpenRisk will integrate Contract Navigator to help digitize legal contracts in the financial markets, namely trading agreements such as ISDA/ CSA, syndicated lending agreements, credit agreements, term sheets, funding requests and agent notices.

Contract Navigator will also be integrated with OpenRisk business applications such as Covenant Management via API. Covenant Management applications can be used to effectively extract, calendar, track, monitor, and manage covenants to bridge the gap between contractual obligations or intents, and operational outcomes.

“Help clients defy old processes and deploy innovation”

Keith O’Brien, Chief Commercial Officer at LPA, said: “There is no other solution in the market that competes with Contract Navigator and provides such a comprehensive and flexible solution for banks’ digitization needs, both current now and in the future. At LPA, our goal is to help clients defy old processes and deploy innovation that places them at the forefront of the industry – and Contract Navigator has been developed with this in mind.”

“The OpenRisk extraction capabilities are unique, and we have not seen another provider with such a powerful table extraction. We decided to partner with OpenRisk as an integral part of our new Contract Navigator solution and leverage their sophisticated technology. We are building one single solution for centralized end-to-end business processes around financial markets agreements. Going forward, we will now be able to help clients in a myriad of different areas, including ESG and sustainable finance initiatives, corporate policy validation and distributed ledger technology solutions.”

Narasimha Kodihalli, Founder and CEO of OpenRisk, commented: “We are delighted to partner with LPA as a prominent financial markets software solution and advisory partner. We are pleased to power Contract Navigator with our services, helping to offer a full 360-degree solution from document extraction to document creation for syndicated loans and trading agreements. With this partnership, we will now be able to expand into new territories like Europe and the UK and bring our innovative technology to the widest possible audience.”

Michael Gouverneur, Sales Director at LPA, said: “Through this partnership with OpenRisk, we are integrating best-in-class AI and machine learning to help our clients with the digitization of contract data into a contract repository. With Contract Navigator, we can now offer advanced analytics, fully automated loan booking, data integration with REST APIs, a clause library to ease and speed up the negotiation and generation of trading agreements or any other type of financial markets documents. We look forward to bringing this product to market and putting it in front of our clients, to show them the power of the highly configurable workflows it offers.”

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