United StatesFinance and insurance2024 – ongoingJefferies Financial Group
Intelligent document processing for derivative trade confirmations
Jefferies cut confirmation processing time by 80-90%, according to AWS
Problem
Middle-office staff manually extracted information from derivative confirmations received in inconsistent formats. They then reconciled the information against internal systems.
Approach
Jefferies built a document-processing framework using Amazon Textract and other AWS services. Staff reviewed extracted information through an interface that retained an audit trail. The first phase handled document extraction; automated reconciliation remained a subsequent phase.
Results
Takeaway
The reported time savings came before automated reconciliation, with staff still reviewing processing outputs.
Categories
- Industry
- Finance and insurance
- Business function
- Finance, risk and legal
- Innovation type
- Process innovation
- AI technology
- Computer vision
- Adoption
- Off-the-shelf tool or platform
- Evidence
- Vendor case study
Sources
Source summaries
AWS described Jefferies' document extraction framework and human review controls. It reported an 80-90% reduction in confirmation processing time and identified automated reconciliation as subsequent work.
Full details are in the original sources.