PwC UK and Catylex Announce Strategic Collaboration to Enhance Contract Management for Global Financial Services Firms

Catylex and PwC UK Leverage AI Technology to Extract Data from Complex Financial Documents

Having been inside financial institutions through multiple crises over several decades, we know intimately the need and difficulty of getting to complex contractual data quickly and accurately.”

— David Rosen

NEW YORK, NY, UNITED STATES, August 22, 2024 /EINPresswire.com/ -- PwC UK, a leader in professional services, and Catylex, an innovative provider of contract intelligence solutions, are pleased to announce a strategic collaboration aimed at transforming contract management capabilities for asset managers and other financial institutions. The offering combines Catylex's advanced AI-powered technology and PwC UK's extensive industry expertise to provide actionable data from complex documentation such as side letters, investment management agreements and trading agreements.

PwC UK’s legal and technology teams have seen growing demand for contract review at scale for repapering exercises as well as in managed services. With the rise in AI capabilities, PwC UK is constantly evaluating solutions for financial services use cases.

According to Mike Willis, partner at PwC UK, "As buy-side and sell-side firms navigate an increasingly difficult regulatory environment, the ability to interpret accurately and manage contractual obligations is critical. By leveraging Catylex's AI technology and subject-matter expertise with our industry knowledge, we can offer comprehensive project and managed services to drive strategic value for our clients."

Built by a team with decades of legal, industry and technology experience, Catylex works out of the box to deliver results quickly. Catylex is highly secure, doesn’t send data to any third party, and presents all results of its automated extraction in a traceable and trackable form that preserves the source of all answers against the original documents.

David Rosen, CEO at Catylex, had this to say:
"Having been inside financial institutions through multiple crises over the past several decades, we know intimately the need and difficulty of getting to complex contractual data quickly and accurately. PwC’s financial services, process and technology expertise makes them well positioned at applying our tool to help their clients solve what has been a largely intractable problem."

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About Catylex:
Catylex is a revolutionary contract analytics solution for any business that needs to extract and optimize contract data. Designed for scale, our next-generation contract AI recognizes thousands of legal and business concepts out of the box and delivers a delightful QC experience. Learn more about us at www.catylex.com.

About PwC:
At PwC, our purpose is to build trust in society and solve important problems. We’re a network of firms in 151 countries with over 364,000 people who are committed to delivering quality assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at www.pwc.com. PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity.

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Nora Steinman
Catylex
media@catylex.com
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Distribution channels: Banking, Finance & Investment Industry, Law, Technology

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