Citco has introduced an “AI plus Human” platform to provide fund managers and allocators with fully managed document management services.

Citco Document Intelligence (CDI) integrates artificial intelligence (AI) with fund reporting expertise to read, organize, and transform documents into searchable information for fund managers, fund types, and asset owners.

“Document management remains a painful process with no full-service solutions across the document universe,” said Nick Eisenlau, head of institutional services at Citco Fund Services (USA). “It’s not enough to improve these manual processes, rather, we believe investment professionals want the ‘document drudgery’ to simply disappear.”

The documentation problem is exacerbated by a lack of data standards and inconsistent document formats. CDI tackles the issue by assisting asset allocators with transparency reporting, such as confirming various investment costs. Citco explained that the new product was necessary due to the rising complexity of their investment portfolios.

Combining AI and subject matter experts to process is a unique combination, according to Eisenlau, who added that clients must process tens of thousands of documents annually. The new tools include document retrieval, classification, calendaring, digitization, delivery and API integration.