Client Success Story

Contract Abstraction for a Fintech Developer


Client Success Story

Empowering Success while Inspiring Client Journeys!

Learn how our Contract Abstraction Services streamlined processes for a banking software development company, optimizing efficiency and boosting overall performance.


AI Banking Software Developer Company in New York City, NY.


Abstracting a large volume of Loan Agreements for ingestion into an underdeveloped AI document validation tool, aimed at enhancing machine learning capabilities.

Complexity of Agreements

The client faced difficulties in managing intricate legal language and diverse structures within a large volume of Loan Agreements, which posed a significant challenge for developers.

LIBOR Transition

Adapting the software to ensure accurate abstraction of information crucial for the LIBOR transition added complexity which required careful consideration of evolving industry standards.

Accurate Abstraction

Achieving precise abstraction of critical information such as Entities, Lending/Credit Process, etc., essential for machine learning purposes, demanded meticulous attention to detail and robust validation processes.

Solution Remedy Answer

Automated Parsing Technology

The LCP Solution

LCP utilized cutting-edge automated parsing tools to efficiently extract and interpret complex legal language within Loan Agreements, enhancing speed and accuracy.

LIBOR Transition Module

The LCP Solution

LCP integrated a specialized module addressing the intricacies of LIBOR transition, ensuring seamless contract abstraction and compliance with dynamic industry standards.

Quality Assurance Protocols

The LCP Solution

LCP implemented rigorous quality assurance protocols to validate and refine abstracted data, guaranteeing precision and reliability in preparation for machine learning integration.


Benefit 1


LCP streamlined the abstraction process, significantly reducing the time required to precisely extract and highlight entities, loan terms, credit processes, credit fraud detection, and income verification from a large volume of Loan Agreements.


Benefit 2


LCP ensured meticulous extraction of information, with specialized LIBOR Transition Module, which also helped in streamlining the Accounts Payable issues through enrichment.


Benefit 3


Through rigorous quality assurance protocols, the client gained confidence in the accuracy of abstracted data, enhancing the effectiveness of machine learning initiatives while realizing substantial cost benefits.

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Client Voice: Transformative Experiences with Legal Consulting Pro's Contract Abstraction Solutions

Legal Consulting Pro's Contract Abstraction Services have revolutionized our operations. The precision in extracting complex legal nuances from a myriad of agreements, especially during the LIBOR transition, has been nothing short of exceptional. The seamless highlighting of entities, loan terms, credit processes, and income verification has significantly accelerated our workflows. Their meticulous approach not only ensures data accuracy but also instills confidence in our machine learning initiatives. Legal Consulting Pro has become an invaluable partner, delivering transformative solutions that align seamlessly with our dynamic industry needs.

JC Delivery Head, A Fintech Software Development Company, Newy York City, NY

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