A non-standardized Corporate Bank Loan contract takes weeks to process and updated on the system. Lawyers or consultancy companies in charge of this process use checklists or spreadsheet templates.
The length of this process is due to the vast amount of papers to read, i.e. 300 pages for a Facility Agreement plus 5 collateral documents for each seniority tranche and relative securities.
Value Proposition: Fintep’s predefined and trained AI Machine will automatically read each deal and extract most relevant meta info for processing.
The average Bank Loan lifespan is 5 years. During this period, Middle Office needs to monitor all clauses contained within every single contract including all types of agreements, conditions precedents, utilization, interests and payments. This information will be shared among stakeholders.
Unfortunately, there is not a single and common holistic monitoring system that brings all this together. Amendments, Waivers and Variation Orders are manually processed and again, communication among the stakeholders is carried by email, phone calls and faxes.
Value Proposition: Fintep generates Alerts and pre-defined approvals workflows, providing customized views on each Loan and giving the possibility to access real-time to monitor the loan’s situation.
With a paper-based documentation, it is very difficult to search and extract relevant and useful information within the repository. For instance, you might want to extract all contracts with jurisdiction in a specific Country or industry with interest or yearly yield above a certain number.
Fintep provides auditing capabilities with verifiable data from the source documents and internal crosscheck functionality to read consistency between new contracts and ensure there are no empty loops or pointless references.
Value Proposition: Fintep provides a wide variety of search options to navigate through the whole Loan Book repository.