NBFC Industry

KPMG research specifies that while the methods of risk management are increasingly interconnected, banks and NBFCs are at a disadvantage, as they cannot smoothly integrate the risk strategies across the mentioned domains, thus being at risk of penalties.

Contracts are normally executed and managed by legal offices and may run into hundreds with different clauses. A Bloomberg Law poll revealed that, 71% of in-house counsel use ineffective methods, that result in mistakes, oversights, as well as the contract’s lengthy life span.

Lack of complete metadata in a contract portfolio causes due diligence problem which consequently raises audit risks and cycle time. In the case of NBFC portfolio, Affluence Advisory underlines that lack of data can hamper both; analysis of financial health and statutory compliance.

Using Metadata Extraction, Legalbook takes as much data as possible from the text and, with the help of a thorough Contract Summary, provides accurate due diligence. It provides clarity of the contractual terms, fastens the process of vendor and client acquisition and reduces risks of unknown losses.

The Legalbook Risk Report provides practical information on compliance risk, indemnities, Intellectual Property provisions, and everything else they need. This also enables NBFCs to effectively deals with regulation issues and threats against operations of their businesses.

This is especially important since contracts, legal agreements, or legal documents are legally binding legal transactions that have to follow the law that governs business in any nation and Legalbook is designed to provide an ongoing compliance check on regulatory legal compliance with these law in contracts. Its centralized interface allows visibility of commitments and accelerates strategic decision-making while avoiding compliance pitfalls.