Eliminating time-consuming and expensive processes for deal execution and loan due diligence

A global systemically important bank (G-SIB) uses Eigen to automate a number of previously slow and costly processes related to loan onboarding and ongoing management.

The challenge

The bank needed a solution to automate a number of heavily manual, time-consuming
and expensive processes relating to deal execution.

Processes included due diligence for participations in a syndicated loan portfolio as well as the review of internal policy requirements for syndicated loan agreements and related loan documentation.

They also required the generation of deal-level databases for front office and syndications, capable of drawing on one data lake or document repository, such as SharePoint. As well as consolidating critical deal-level data with external databases.

The solution

Eigen was capable of analyzing various credit agreement types, including European-style
LMAs and U.S.-style LSTAs.

By leveraging Eigen to support agile deal execution, the bank is able to generate deal related databases primarily for use in front office and syndications.

The value lies in unearthing relevant data in an efficient, automated manner to assist the informed decision-making process within the bank with fewer resources.

The results

Eigen was the best performing solution in a competitive proof of concept and request for
proposal process.

The customer favored Eigen because of its high accuracy, flexibility, no-code user interface, and how seamlessly it fit within the bank’s brand profile of utilizing innovative solutions.