JPMorgan Automates Document Reviews, Saves 360k Hours

360k

Hours Saved Annually

100%

Error Reduction

12k

Contracts Analyzed

Challenge

Manual loan document reviews were slow and error-prone, consuming thousands of lawyer hours.

Solution

Deployed COiN (Contract Intelligence), a machine-learning system to analyze contracts and extract key clauses automatically.

Results

360,000 hours of legal work eliminated annually, reducing errors and operational costs by millions.

Full Description

JPMorgan Chase faced a significant bottleneck in their loan processing workflow. Legal teams were spending approximately 360,000 hours annually reviewing commercial loan agreements. This manual process was not only time-consuming and expensive but also prone to human error. To address this, the bank developed COiN (Contract Intelligence), a proprietary machine learning platform. COiN runs on a private cloud and uses unsupervised learning to analyze legal documents. It can review documents in seconds that would take human lawyers thousands of hours. The system extracts 150 critical data points from 12,000 annual commercial credit agreements.

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