First ‘AI Plus Human’ Platform Offers Fund Managers High Accuracy And Structured Data From Fund Document

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Citco Document IntelligenceTM (CDI) – the first ‘AI Plus Human’ platform to offer fund managers and allocators a fully-managed document management service by combining AI and fund reporting experts – has been launched by the Citco group of companies (Citco), the leading asset-servicer with over $1.9 trillion in assets under administration (AuA).

The service is relevant to all fund managers, fund types and asset owners, and will be of particular interest to FoF managers – who Citco estimates receive over 2,000 documents on average per annum. Currently, managers face the headache of missed investment opportunities by missing time-sensitive documents like capital calls due to high volumes of emails and a lack of structured data. This problem is further compounded by lack of data standards and disparate document formats. CDI also supports asset allocators who require transparency reporting, such as validating various investments fees.

Compared to other offerings in the market, CDI interprets, organizes, and transforms documents into discoverable information and insights with high accuracy through its highly scalable combination of AI and subject matter expertise.

The holistic solution offers:

  • Streamlined document management through a granular library;
  • Automated document capture, information extraction and document indexing;
  • The ability to mine richer and deeper data from investments;
  • Discoverable structured data;
  • Straight-through Processing (STP);
  • Multiple delivery methods: API and client-facing UI.

Nick Eisenlau, Head of Institutional Services, Citco Fund Services (USA) Inc. said: Document management remains a painful process with no full-service solutions across the document universe. Right now, the burden to manage this problem is left to investment managers that must rely on manual workflows and a patchwork of limited technology. But the volumes are growing as portfolios’ diversity and compliance requirements become more onerous. It’s not enough to improve these manual processes, rather, we believe investment professionals want the ‘document drudgery’ to simply disappear. 

“So Citco is launching a unique combination of AI techniques combined with subject-matter experts to intelligently process the thousands – and often tens of thousands – of documents our clients receive annually. With capabilities including document retrieval, classification, calendaring, digitization, delivery and API integration, CDI provides a single, quality-controlled source for all external documents. The endless hours clients spend monitoring shared inboxes, checking FTP sites, tracking portal logins, and classifying email attachments will finally vanish, replaced with a straight-through data flow.”

Historically, fund managers and allocators have relied on teams of individuals to manually manage data extraction and document storage, leading to industry-wide frustrations due to errors, latency, spiraling costs and lack of control.

However, as portfolios increase in complexity, the need to process and manage fast, accurate and transparent data has never been greater in institutional investment management. CDI solves these problems by using a proprietary, scalable, AI-enabled application that automates data extraction and data management, delivering easy-to-digest data reporting that allows firms to focus on what they do best – generating growth.

About the Citco group of companies (Citco)

The Citco group of companies (Citco) is a network of independent companies worldwide. These companies are leading providers of asset-servicing solutions to the global alternative investment industry. With over $1.9 trillion in assets under administration and operations spanning across 36 countries, Citco’s unique culture of innovation and client-driven solutions have provided Citco’s clients with a trusted partner for more than four decades. Having grown organically into one of the largest asset servicers in the industry, Citco’s Fund Services companies offer a full suite of middle office and back office services including, treasury and loan handling, daily NAV calculations and investor services, corporate and legal services, regulatory and risk reporting as well as tax and financial reporting services. Investing heavily in innovation and technology whilst further developing its current suite of client-friendly solutions, Citco will continue into the future as a flagbearer for the asset-servicing industry.