Citco has launched Citco Document Intelligence (CDI), which it says is the first ‘AI Plus Human’ platform to offer fund managers and allocators a fully-managed document management service by combining AI and fund reporting experts.
The asset-servicer, which has over $1.9tn in assets under administration (AuA), says the new service is relevant to all fund managers, fund types and asset owners, and will be of particular interest to FoF managers – who Citco estimates receive over 2,000 documents on average per annum.
Currently, managers face the headache of missed investment opportunities by missing time-sensitive documents like capital calls due to high volumes of emails and a lack of structured data. This problem is further compounded by lack of data standards and disparate document formats. CDI also supports asset allocators who require transparency reporting, such as validating various investments fees.
CDI interprets, organises, and transforms documents into discoverable information and insights with high accuracy through its highly scalable combination of AI and subject matter expertise.
In press statement, Nick Eisenlau, Head of Institutional Services, Citco Fund Services (USA) Inc. said: “Document management remains a painful process with no full-service solutions across the document universe.
“With capabilities including document retrieval, classification, calendaring, digitisation, delivery and API integration, CDI provides a single, quality-controlled source for all external documents. The endless hours clients spend monitoring shared inboxes, checking FTP sites, tracking portal logins, and classifying email attachments will finally vanish, replaced with a straight-through data flow.”
