Automating Document Processing for QFC Recordkeeping

This case study outlines the implementation of the Eigen Document AI platform by Goldman Sachs to automate document processing for qualified financial contracts (QFC) recordkeeping and the LIBOR transition. Following the Dodd-Frank Act of 2015, Goldman Sachs was required to maintain detailed records of their QFCs and provide this information to regulatory agencies within 24 hours. The firm sought a solution to efficiently analyze their extensive QFC portfolio and compile relevant information from a large volume of documents. The Eigen platform was chosen after a thorough review of multiple technology solutions, demonstrating superior automation, precision, and speed. The onboarding process involved training Goldman Sachs' Documentation Group and developing APIs for seamless integration with existing systems. The collaboration has enabled Goldman Sachs to meet regulatory requirements while enhancing operational efficiencies. Additionally, Eigen's support has extended to the LIBOR transition project, showcasing the platform's flexibility and effectiveness in addressing complex document processing needs.