Trade News: Mizuho Bank deploys AI for derivatives contracts process

Mizuho Bank has completed a project with Nomura Research Institute using artificial intelligence to eliminate certain derivative contract procedures.

Nomura was approached by Mizuho to develop the project and examine the realistic applications of AI, as the standard derivative contract procedure has traditionally included various manual and archiving processes.

The proof-of-concept found optional character recognition can digitise contracts from ISDA and the system can define, extract and archive the data into a format that is more easily accessible.

For the full article, click here.

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