Client Background
Client: Europe-based financial technology company
Industry: Fintech
Area of Operations: Global
Products/Services: Financial software and risk solutions
Number of Employees: Over 17,000
Challenge
The client had over 700,000 legacy contracts signed with several organizations. The contracts were in varying formats, multiple languages, and metadata extraction was a manual activity. About 20% contract documents were in languages other than English. Disjointed legacy systems and processes had led to data duplication of around 10% contract documents.
Key requirements:
The need was to migrate the legacy documents present in the old CRM solutions to the contract management platform SpringCM.
Solution
Wipro leveraged its HOLMES™ Contract Intelligence solution to power the migration to the new contract management platform and meet all customer requirements. This solution is empowered with metadata extraction, contextualization, natural language processing, and inbuilt annotation studio. It has the ability to process both structured and unstructured documents with varying complexities and export data downstream.
Machine Learning Operations provided the key competencies to annotate dataset, train models, and govern and monitor deployments.
Business Impact
Wipro helped the fintech company successfully migrate its legacy documents to SpringCM. This resulted in enhanced business decisions, process improvements and smart operations.