Clutch Group’s Capture.IQ Featured in Legal Technology News Article
Clutch Group VP of Process Engineering & Product Development JB Costilow was quoted in a Legal Technology News article that featured Capture.IQ, Clutch’s fully-managed documentation solution. Clutch Group is currently showcasing Capture.IQ at the ISDA Annual General Meeting in Montreal. Read the full text below or follow this link to the original article.
Clutch Group’s Managed Service Reveals Financial Risk
Sean Doherty 04/22/2015
The Clutch Group, technology consultants for enterprise risk and compliance, is demonstrating the company’s managed document and risk assessment service, called Capture.IQ, at the International Swaps and Derivatives Association (ISDA) 30th Annual General Meeting in Montreal, Canada, from April 21-23.
The ISDA makes safe the global derivatives market. The organization has over 800 member institutions in 67 countries. Members include a broad range of derivatives market participants, including law and accounting firms, corporations, investment managers, governmental entities, insurance companies, energy and commodities firms, international and regional banks, exchanges and clearing houses.
Customers send the Clutch Group data and documents stored on an encrypted hard drive via courier or they electronically deliver documents via a virtual private network using SSTP (Secure Socket Tunneling Protocol), said J. B. Costilow, vice president of process engineering and product development at Clutch.
The Capture.IQ service ingests structured and unstructured data and applies third-party optical character recognition software to transform images into text-searchable electronic documents. On ingestion, the service de-duplicates content and groups documents in family threads to facilitate review.
Using proprietary rule sets, Capture.IQ extracts key information from documents and populates an online tool set used to review and navigate documents and reconcile key reference data in derivatives and other legal documentation, such as ISDA master agreements, credit support annexes, repurchase agreements, securities lending agreements, and futures and options agreements.
The Clutch Group’s proprietary and customizable data models in Capture.IQ help traders and key decision makers search across existing agreements, extract operational business points from unstructured data, identify individual risk elements, and gain a better understanding of an organization’s risk exposure.
The tool set for Capture.IQ was originally designed to remediate Dodd Frank concerns in trader portfolios, said Costilow to Legaltech News. With its customizable data model, the tool can today view, search and analyze structured and unstructured data to assess risk exposure across regulatory frameworks.
The Clutch Group’s analytical features highlight changes to standard terms and identify fields that may require intervention by documentation specialists. Reviewers can view metadata alongside the full-text of an agreement and use custom metadata fields to navigate the document. You can search within and across document sets and annotate documents. The Capture.IQ system includes an auditing subsystem to realize who changed document metadata and when the change occurred, said Costilow.
The Capture.IQ platform has one, all-inclusive price for document services, said Costilow. There are no per gigabyte processing charges or recurring hosting fees. The system can be used on a transactional or long-term arrangement. If transactional, the group will host the data for review and export the analysis and documents from its system when the transaction is complete.
The Clutch Group was founded in 2005 and today includes a team of legal, technology and process experts in six offices over three continents. Clutch’s mission is to help general counsels manage problems in Fortune 500 companies.