Case Study: Goldman Sachs automates QFC recordkeeping and LIBOR transition with Eigen Technologies

How a global investment bank are straight-through processing data for ongoing regulatory reporting purposes

Goldman Sachs needed a way to meet Dodd-Frank QFC recordkeeping requirements, including the ability to provide detailed contract information to regulators within 24 hours. The bank also wanted to analyze more than 50 agreement types across several hundred thousand documents and support related reporting and due diligence needs such as SR 14-1, BRRD, and LIBOR transition. To do this, Goldman Sachs selected Eigen Technologies and its Document AI platform.

Eigen Technologies implemented its platform with APIs connected to upstream document repositories and downstream data lakes, and quickly trained Goldman Sachs’ Documentation Group to use it. The solution enabled straight-through processing of up to 1,500 documents per day, with 49 data points routinely collected from 50+ document types, while maintaining high accuracy. As a result, Goldman Sachs improved QFC recordkeeping efficiency and is now using Eigen Technologies to support LIBOR transition and other regulatory analysis needs.

Goldman Sachs

Donna Mansfield

Managing Director Legal Division