A LIBOR repapering solution from KPMG and Appian
Financial services institutions face an environment of political and regulatory uncertainty. The retirement of LIBOR in 2021, changes associated with Brexit, and regulations around initial margin are forcing companies to repaper and renegotiate existing client and trade contracts.
The process of scrutinizing these contracts is time consuming, highly manual, and difficult to manage on a global scale. Transitioning away from the LIBOR benchmark alone entails reviewing all existing credit agreements and contracts and determining the right transition path. When done manually, this task places a heavy burden on finance, legal, and operations teams that must find, assess, and remediate all LIBOR instances.
To address these challenges, KPMG professionals with deep experience in financial contracts and banking practices bring together two technologies:
The combination of Ignite and Appian enables KPMG professionals to deliver custom-fit solutions that help automate contract analysis and remediation, including LIBOR repapering.
Some or all of the services described herein may not be permissible for KPMG audit clients and their affiliates or related entities. Any trademarks or service marks herein are the property of their respective owners.