Once each Loan is settled, each non-standardize Corporate Bank Loan contract takes weeks to process as it has to be put it into a standard template and update it into the system. Lawyers or consultancy companies usually perform this task using checklist 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 automatically extract most relevant meta info to process.
Each Bank Loan average lifespan goes to more than 5 years, and during this process, Middle Office needs to monitor all clauses contained within every single contract. Including all types of covenants, conditions precedents, utilization, interests, payments. Same information needs to be shared among each stakeholder-syndicated lender, while currently there is not a single and common holistic monitoring system and therefore each player carries his own system.
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 one each Loan and giving the possibility to access real-time to monitor the loan’s situation.
Because all the documentation is paper-based, it is very difficult to search and extract relevant and useful information within the repository. For instance, having the possibility to extract all contracts with jurisdiction in a specific Country and potential exposure to a specific event, extracting all the deals within a specific industry, consolidating my Local Project Finance portfolio with some specific interest or yearly yield above certain number, extracting all the events of default of a specific subset of contracts and so on.
Fintep will also provide Auditability capabilities with verifiable data from the source documents and internal crosscheck functionality to certify all new contracts are consistent and there are no empty loops and pointless references.
Value Proposition: Fintep provides a wide variety of search options to navigate through the whole Loan Book repository.