Sberbank has created an AI-based legal entity verification system

Sberbank has created an AI-based legal entity verification system


IT NewsFacts and forecastsTechnology

Ekaterina Alexandrova | 10/12/2020

Sberbank has created an AI-based legal entity verification system

Sberbank created and patented the first in Russia system for checking legal entities for legal capacity based on artificial intelligence.

With the help of a robotic lawyer developed in the Legal Department of Sberbank, over 2.5 million legal opinions were prepared in 8 months. The robot can significantly speed up business processes and
avoid mistakes when manually processing large amounts of data and checking information about counterparties. The analysis process for one legal entity takes on average 7 minutes.

The robot checks counterparties by recognizing and extracting legally significant information from documents. Information on bankruptcy, liquidation and reorganization of legal entities is being checked,
the correctness of the information contained in the extract from the Unified State Register of Legal Entities, the signatory’s powers to conclude a transaction and many other parameters. The system analyzes information from more than 10 documents.

The result of the legal capacity check is conclusions on the client’s key risk metrics. Legal risk is described in as much detail as possible, taking into account various aspects, including justification and level of risk,
assessing the ability to eliminate and minimize the risk.

The development can be widely in demand on the market in various areas of business, namely, wherever it is required to check the legal capacity of clients and counterparties, Sberbank believes.

Artificial intelligence, banks, law

Sberbank | Sberbank



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