Case Study CS Legal

"Legal Documentation"

OBJECTIVE

One of the largest German issuers of structured financial products wanted to reposition itself in good time before the new PRIIP Regulation came into force. An IT system was sought, which was able to create the documents required by law, such as KIDs, Final Terms, Termsheets, etc.. The creation should be so performant that a KID can be created on demand.

Furthermore, the system should be flexible enough to respond easily to changes in legislation, as the PRIIP regulation wasn't finalised at the time. In addition, the processes for creating, managing and distributing the documents should be automated, simplified and of the highest quality in order to prevent possible claims for compensation of damages.

CHALLENGES

The forthcoming PRIIP Regulation was not yet finalised.
The creation of a KID should take a maximum of 3 seconds from the investor's click to the opening of the PDF for 50 parallel requests.
Easy operating of the system by employees of the legal department.
Creation of different document types and formats with only ONE system.
High reuse of content: Write once use everywhere.
High process reliability and automation: With more than 10,000 documents to be created daily, this must be done automatically. The system must independently identify possible problems during creation and report them so that users can quickly identify the cause.
Time to Market: The introduction of new financial products should be possible quickly and without any support of the manufacturer.
Automatic creation of all necessary documents for any issue.

PROCEDURES

Creation of a prototype for validation of the generation speed
Agile project development: users provide regular feedback on developed functionalities and operation.
Separation of data, text and layout to ensure maximum reusability of content. This allows the creation of a wide variety of document types and formats.
Development and implementation of concepts to ensure high process reliability and automation. Supported by experience in research, where complex processes have also been successfully mapped by Content Software IT systems for many years.
Provision of simple configuration options to enable the customer to independently make enhancements, so that documents on new financial products can be easily created.
Development of automatic rule-based document creation based on input data.

CUSTOMER BENEFITS

Since the go-live 3 years ago, the number of emissions have risen from 200,000 to 300,000.
The system was productive in time for the entry into force of the PRIIP regulation, so that there was no delay or failure of the underwriting business.
Easy On-Boarding of additional departments with additional document types by the customer.