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The client for this engagement was a multinational independent investment bank and financial services company whose offerings range from capital market and financial advising to institutional brokerage and asset management. At the beginning of their engagement with Hakkoda, the firm was embarking on an aggressive initiative to modernize its capabilities and technical infrastructure with the objective of gaining a competitive advantage over its competitors.
With an existing technology stack that relied on a number of third party applications to carry out mission-critical operations, the client team was looking to automate aspects of its document review process, innovate its legal system, and take the review workflow in-house. At the same time, the customer was eager to implement end-to-end data governance and master data management frameworks to streamline compliance and improve business insights.
To help the client team streamline their document review process while bringing the underlying technology in-house, Hakkoda designed and implemented a custom legal review system powered by our Intelligent Agreements solution.
By leveraging AI’s natural language and entity extraction capabilities, the resulting system reshaped the firm’s legal review process by automating approvals, tracking end-to-end process time, reporting real-time metrics, and crafting contracts in real time to accelerate authorship. By extension, the new legal review system streamlined the firm’s ability to monitor and maintain compliance with a host of industry regulations, shortened time-to-insight across the entire business, and drastically slashed costs associated with more traditional review tooling and methodologies.
To help the customer accelerate its data management and governance initiatives, meanwhile, the Hakkoda team oversaw an enterprise-wide shift from Informatica MDM to our internally-developed Snowflake Native MDM, bringing MDM inside of their existing Snowflake environment for cost optimization and expanded business insights.