Credit Support Annex (CSA) automation tool to update the bank’s internal ISDA data management system with new CSA data
Objective
- CSA renegotiation and update in system involves significant time and cost effort
- Existence of different formats of physical documents results in increased upload time
CRISIL's solution
- Build an automation tool to enable CSA update from physical documents into the system
- The tool will perform the following utilizing text analytics techniques:
- Gauge information in physical CSA documents and extract that information in the desired format
- Perform data quality, completeness and accuracy checks through controls embedded in the automation process
- Upload documents in different file formats into the bank's systems
- Send update to downstream systems to start further processing once upload is completed
Client impact
- Automation will improve the accuracy and efficiency of the CSA updation process drastically
- The tool will help realize significant cost and time savings by automating the manual work required in scanning the physical documents and updating the information in the systems
Questions