The re-papering exercise resulting from Benchmark Reform is not only unprecedented in scale but will also affect everyone differently. We know it can’t all be done manually, but the multiplicity of systems, diversity of documentation and global implementation means you need the right balance of bespoke and cost-effective to solve this problem. This is where we can help.

BRYTER’s IBOR Transition Platform is an integrated solution, using our no-code technology to help you deploy highly customisable low-cost automation into any IBOR transition gaps you may have. No-code technology enables domain experts like you, who understand the context, to create made-to-fit automation products that can triage data, bulk generate documents, streamline negotiations and push structured data into operations systems. Not only can BRYTER be used as an end-to-end solution, but it can be plugged into any part of your process and work seamlessly with your tech stack.

This much flexibility with an intuitive UI is complex, but we have done the hard work for you. With our domain expertise in legal and financial services, we enable you to leverage BRYTER’s technology for IBOR with off-the-shelf modules to automate from Day 1. We then take you one step further. Doing the job itself is not enough today, knowing how you are doing in and if you could do it better is as important. Therefore, along the way, our case management toolkit and intuitive dashboard will guide you, help monitor your workflows, create audit trails and enable effective reporting, all completely customisable for your needs.

Background

With the discontinuation of IBOR from 2022 onwards, banks and other financial institutions are confronted with the challenge of reviewing, renegotiating and adjusting a huge number of documents containing contractual references to benchmarks, such as, LIBOR. While existing contract analysis software can be used for reviewing large document sets potentially affected by the IBOR transition, the diversity and ambiguity of the language used in many legal documents presents challenges to an entirely unsupervised machine-driven process. As such, there is a need to curate, filter and refine the data from contract analysis software and often review the original documentation yourself. BRYTER can help you with this, using gentle nudges in our system to capture the right data (in the right way), enabling you to triage it and then automate document generation in a repeatable, seamless flow.

We can then go a bit further, allowing you to automate the painful outreach process, creating negotiation playbook to limit or eliminate friction for agreeing amendments, and updating that “golden source” of data as it evolves in real-time. Our smart integrations can then take over to pipe this data back into bank systems for immediate operationalisation.

Benefits

Automated & standardized

The IBOR Transition Platform allows you to automate and standardize the process of analyzing, triaging and repapering large document sets.

Faster execution

The sheer volume of documents which need to be analyzed and processed in the course of the IBOR transition necessitates an automated workflow.

Centralized audit trail

The analysis and processing of all documents on the IBOR Transition Platform is tracked and recorded in a centralized audit trail. This provides a real time insight and overview of the project’s status.

Integrated

The IBOR Transition Platform connects the BRYTER core automation platform with contract analysis software of your choice establishing a seamless and integrated workflow. It also connects with databases, efficiency tools, visualisation software and much more.

Highly customizable

Every tool built on BRYTER is customizable. Amongst other things, this allows you to easily adapt the structure of your legal reasoning process to the specific requirements of the type of documents you are processing.

How it works

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Historic Data

Collect useable data from historic documentation, combine structured and unstructured data to create the “golden source”.

Triage

Rule-based triaging of historic data to identify in-scope relationships, treatment and next steps.

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Generate Documents

Bulk generate documentation like amendments, automatically selecting templates and provisions based on logic that operationalises legal advice.

Outreach

Streamline counterparty outreach through auto-generated emails.

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Negotiate

Negotiate faster with our BRYTER modules that reduce friction and enable parties to reach agreement using pre-baked fallbacks.

Data Downstream

Create seamless connectivity for Day 1 operationalization by down-streaming updated data to bank operations systems via APIs.

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