The AI-powered document and data abstraction company has announced it is entering the Non-Performing Loan (NPL) market, though a partnership with 8G Capital Partners. Leverton will support both buyers and sellers of NPL portfolios, using artificial intelligence to conduct due diligence and closing transactions, as well as post-acquisition portfolio management.
NPL transactions are highly complex and involve myriads of documents, ranging from loan agreements to security documents and collateral documentation such as title deeds, planning permits, plans. However, many transactions are still being brought to the market without complete knowledge of what each portfolio entails.
Leverton said its deep learning technology can be trained to automatically identify and extract relevant information from various types of documents and contracts including loan agreements and collateral documents in over 30 languages. Information that used to be hidden in thousands of pages is brought to surface in a structured format, enabling more efficient data aggregation and significantly better transparency of large data sets.
The two companies will work together to mitigate the risks of NPL transaction failures owing to data inadequacies, by combining 8G Capital Partners’ expertise in asset management with the Leverton platform’s capability to improve data capturing and structuring efficiencies.
On the back of increasing interest from several investors, financial institutions and loan servicers, the partnership will see Leverton and 8G Capital Partners target its joint solution offering to businesses in Greece, Cyprus, Ukraine and Turkey in its initial phase.
Richard Belgrave, global sales director at Leverton said: “We have been testing the possibility of entering this market and are excited to be able to bring our technology to the loan market. It’s traditionally a complex market where bid-ask spreads can remain unnecessarily wide, owing to the unavailability of quality data. With our market-leading data extraction platform, we can help businesses overcome these market failures.”