Data science and AI transform disclosure and reporting

The client relies upon a centralized operations team to produce monthly NAV (Net Asset Value) and other financial reports for its international hedge funds— from data contained in 2,300 separate monthly investment fund performance reports. With batch receipts of rarely consistent file formats – PDF, Excel, emails, and images— the process to read each report, capture key info, and, create and distribute new metrics using the bank’s traditional tools and systems was highly manual, time-consuming, error-prone, and costly.

Iris developed a Data Science solution that rapidly and accurately extracts tabular data from thousands of variable file documents. Using a statistical, AI-based algorithm featuring unsupervised learning, it auto-detects, construes, and resolves issues for every data point, configuration, and value. Complex inputs are calculated, consolidated, and mapped as per predefined templates and downstream business needs, efficiently generating numerous, distinct, and required period-end financial disclosures.

The high solution accuracy helped the client’s global NAV reporting team significantly improve precision, efficiency, quality, turnaround time, and flexibility. The delivered solution contributed to:
• 90 - 95% reduction in operational efforts
• 99% accuracy in processing variable inputs
• Zero rework effort and cost

Our highly customizable and scalable solution can be seamlessly integrated with existing reporting applications and MS Outlook while accommodating additional volumes, report types, and business units.