Catylex and PwC UK Leverage AI Technology to Extract Data from Complex Financial Documents
PwC UK, a leader in professional services, and Catylex, an innovative provider of contract intelligence solutions, are pleased to announce a strategic collaboration aimed at transforming contract management capabilities for asset managers and other financial institutions. The offering combines Catylex’s advanced AI-powered technology and PwC UK’s extensive industry expertise to provide actionable data from complex documentation such as side letters, investment management agreements and trading agreements.
PwC UK’s legal and technology teams have seen growing demand for contract review at scale for repapering exercises as well as in managed services. With the rise in AI capabilities, PwC UK is constantly evaluating solutions for financial services use cases.
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According to Mike Willis, partner at PwC UK, “As buy-side and sell-side firms navigate an increasingly difficult regulatory environment, the ability to interpret accurately and manage contractual obligations is critical. By leveraging Catylex’s AI technology and subject-matter expertise with our industry knowledge, we can offer comprehensive project and managed services to drive strategic value for our clients.”
Built by a team with decades of legal, industry and technology experience, Catylex works out of the box to deliver results quickly. Catylex is highly secure, doesn’t send data to any third party, and presents all results of its automated extraction in a traceable and trackable form that preserves the source of all answers against the original documents.
David Rosen, CEO at Catylex, had this to say:
“Having been inside financial institutions through multiple crises over the past several decades, we know intimately the need and difficulty of getting to complex contractual data quickly and accurately. PwC’s financial services, process and technology expertise makes them well positioned at applying our tool to help their clients solve what has been a largely intractable problem.”
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