eBrevia, a DFIN Company, Helps Clients Prepare for Fast-approaching LIBOR Transition with Latest Software Release
April 21 2020 - 8:00AM
Business Wire
eBrevia, a Donnelley Financial Solutions (NYSE: DFIN) company,
today announced its latest software release focused on helping
financial institutions transition from the London Inter-Bank
Offered Rate (LIBOR), a globally recognized base rate for financial
services.
LIBOR has been in use since the 1970s and today it is a
reference for an estimated $350 trillion of loans, securities, and
derivatives worldwide. The challenge facing many financial
institutions is that LIBOR is expected to cease publication or to
become unreliable after 2021. With less than two years to prepare,
many financial institutions and their service providers are facing
the reality that a manual review of LIBOR-related agreements could
be extremely costly or impossible to complete on time.
eBrevia provides AI-powered contract analytics software that
helps law firms, audit/consulting firms, financial institutions and
corporations complete document reviews faster and with greater
accuracy. eBrevia’s latest software release includes automatic
identification of new document types specifically related to LIBOR,
new LIBOR-related pre-trained provisions, and identification of
different types of interest rates. In addition, the release
includes substantial enhancements to the system’s search and
filtering functionality, enabling users to quickly find the exact
documents and provisions they are looking for based on a wide range
of different criteria.
eBrevia co-founder and president, Ned Gannon, explained that
“Our clients are heavily leveraging eBrevia for LIBOR-related
review. This latest release now adds many features targeted to this
use case. eBrevia can be customized for any specific need but
having more built-in LIBOR functionality is extremely helpful for
managing document reviews and analyzing risks running up to this
deadline.”
eBrevia has always been highly responsive to the needs of its
clients under challenging market conditions, whether driven by
regulatory changes, such as the LIBOR transition, or global
phenomena, such as helping clients review contracts for force
majeure provisions triggered by the COVID-19 pandemic.
Identifying LIBOR references in contracts, as well as
potentially relevant fallback language is an important element in a
complex transition that firms around the world will manage for the
next few years. A lack of clarity on LIBOR’s replacement is an
additional challenge that can slow down preparations, making
technology solutions that speed up processes even more vital.
Learn more about how eBrevia’s software supports LIBOR-related
document reviews in this whitepaper or about additional use cases
at www.ebrevia.com.
About Donnelley Financial Solutions (DFIN)
DFIN is a leading global risk and compliance solutions company.
We provide domain expertise, enterprise software and data analytics
for every stage of our clients’ business and investment lifecycles.
Markets fluctuate, regulations evolve, technology advances, and
through it all, DFIN delivers confidence with the right solutions
in moments that matter. Learn about DFIN’s end-to-end risk and
compliance solutions online at DFINsolutions.com or you can also
follow us on Twitter @DFINSolutions or on LinkedIn.
Forward-Looking Statements
This news release may contain "forward-looking statements"
within the meaning of Section 21E of the Securities Exchange Act of
1934, as amended, and the U.S. Private Securities Litigation Reform
Act of 1995. Readers are cautioned not to place undue reliance on
these forward-looking statements and any such forward-looking
statements are qualified in their entirety by reference to the
following cautionary statements. All forward-looking statements
speak only as of the date of this news release and are based on
current expectations and involve a number of assumptions, risks and
uncertainties that could cause the actual results to differ
materially from such forward-looking statements. Readers are
strongly encouraged to read the full cautionary statements
contained in Donnelley Financial Solutions’ (DFIN) filings with the
SEC. Donnelley Financial Solutions (DFIN) disclaims any obligation
to update or revise any forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20200421005026/en/
Media Contact: Jeff Brennan media@dfinsolutions.com
Investor Contact: Justin Ritchie
investors@dfinsolutions.com
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