Zero- Touch Libor Remediation

Data Extraction, Review, and Remediation of Contracts

Financial services industry, globally, is focused on efforts to transition to alternative risk-free rates (RFR). As the 2021 deadline for LIBOR transition approaches, financial institutions must assess and plan for the potential impact of a transition away from LIBOR on their products, infrastructures, and customers.

LIBOR transition brings considerable risks and costs for financial firms. Renegotiating a large volume of contracts poses an unmanageable customer, operational, and financial impact!

The LIBOR transition program could be complicated for your organization, with possible impact on your business and customers. But the transition program should continue to accelerate because of the LIBOR deadline. Our solution offers a fully automated, simple, effective, and compliant way to amend impacted contracts at a fraction of manual cost.

Challenges Faced By Organizations

01

Not one size fits all – Array of impacted financial institutions

02

Administrative overhead and risk of transition – A price tag of USD 100-150 million

03

No room for error – Alternate RFR’s are not economically equivalent – Financial implication for banks and customers

04

Defining the benchmark rate for new and historic contracts – Maintaining business as usual during transition

05

Lack of transparency – Complex transition with multiple failure points

Our Key Differentiators

  • Bank specific solution –Outcome based on engagement and commercial model
  • Up to 80% cost savings from hands-free amendment compared to manual amendment
  • Compliance & conversion assurance guaranteeing complete coverage
  • End-to-end program management including managing the impact of the complex change on customers using intelligent automation
  • Real-time dashboard offering customized visibility to different levels of executive management