Libor as a Template for Digital Document Transformation in Financial Services

Libor, or “London Interbank Offered Rate”, has been referred to as “the most important number in the world” because it is the most widely used interest rate benchmark. This group of critical interest rates has been used for most contracts and agreements in derivatives, bonds, mortgages, commercial and retail loans, and it is used for risk, valuation, performance modeling, and more.

The Libor conundrum serves as an excellent example and template for the need to transform the document process for the financial services enterprise, and the unique challenges posed by Libor are an excellent candidate for the application of machine learning tools and protocols. Download our white paper for an overview of libor as a template for digital document transformation in financial services.

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Key attributes of Libor

Libor is a critical component of the global financial markets, and the demise of such a
fundamental credit decision component is unprecedented. We’ll detail the reasons that the challenges related to the end of Libor are complicated and defy easy solutions.

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Cloud technologies and machine learning to remediate the Libor conundrum

The Libor case is an ideal template for examining how an effective solution is best achieved by utilizing a comprehensive approach that includes robust change management practices, technology solutions, business process remediation and exceptional design. We’ll explain this and common pitfalls to avoid.

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Possible outcomes from a focused machine learning effort

Technology such as ML doesn’t serve a purpose if it isn’t utilized in ways that make meaningful contributions to the objectives of the enterprise. With this in mind, it‘s important to be crystal clear about the desired outcomes, whether that be lower costs, faster results, lower risks, etc., to measure success.

“Libor is a big problem, but it can also serve as a once-in-a-lifetime chance to tackle document inefficiencies that were previously thought to be out of reach. In that light, the Libor “crisis” can be turned into a golden opportunity.”