Enterprise Contract Management for Financial Services

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Enterprise Contract Management for Financial Services With the Icertis Contract Management (ICM) platform, leading financial services companies are accelerating customer and vendor onboarding and staying agile in a fast-changing regulatory environment. To address these challenges, some of the world's largest financial services companies have turned to the Icertis Contract Management (ICM) platform and its robust suite of apps. While the ICM solution is ultimately configured for each customer, our capabilities for financial services include: • Automatic risk assessments on contract counterparties to provide ongoing monitoring of vendors, partners and customers • Centralized automation of contract authoring, approval and execution improves global compliance • Full visibility and automated processes enable companies to quickly onboard vendors and customers in full compliance with region-specific regulations • Holistic risk modeling across the entire body of contracts based on credit scores and other parameters, providing actionable data for risk reduction • Intelligent configuration that models complex contract relationships, including master agreements and derivatives T H E S O L U T I O N T H E C H A L L E N G E Today's financial services companies are grappling with evolving competition, heightened oversight and increasing regulation over how they interact with customers and suppliers—relationships that hinge on contracts. Common contract challenges for firms across retail banking, commercial banking, asset management and brokerages include: • Onboarding of vendors, channels and customers is fragmented and not standardized, hindering compliance with stringent vendor and "Know Your Customer" (KYC) regulations • A lack of automation in contract creation and execution makes contract threshold parameters very difficult to enforce • Risk departments do not have adequate control over variations in credit and risk thresholds enshrined in contracts • Labor-intensive, manual contract management processes don't allow negotiated terms to automatically flow into enterprise financial systems, hurting productivity and exposing companies to errors Icertis, the leading enterprise contract management platform in the cloud, solves the hardest contract management problems on the easiest to use platform. With Icertis, companies accelerate their business by increasing contract velocity, protect against risk by ensuring regulatory and policy compliance, and optimize their commercial relationships by maximizing revenue and reducing costs. The AI-infused Icertis Contract Management (ICM) platform is used by companies like 3M, Airbus, Cognizant, Daimler, Microsoft and Sanofi to manage 5.7 million contracts in 40+ languages across 90+ countries.

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