Revolutionizing Legal Document Review: $150M in Savings

Transforming Legal Operations: How JPMorgan Chase Saved 360,000 Hours and $150M Annually with AI-Powered Contract Intelligence

Impact and Results

  • Reduced the time required to review 12,000 annual commercial credit agreements from 360,000 hours to seconds.

  • By automating this labor-intensive process, JPMorgan Chase saved millions annually in operational costs. The first year of COiN's implementation saved the company $150 million, primarily through fraud detection and operational efficiency improvements.

  • COiN demonstrated better accuracy than human reviewers in identifying critical clauses and extracting relevant data points. This reduced the likelihood of errors in legal reviews, ensuring compliance with regulatory standards.

  • COiN processed over 12,000 contracts annually with consistent performance. Its scalability ensures that it can handle larger document volumes as JPMorgan expands its operations globally.

  • COiN ensured consistent compliance with legal frameworks by systematically analyzing agreements against predefined benchmarks. This reduced regulatory risks and improved audit outcomes.

  • Beyond contract reviews, COiN expanded into invoice screening workflows, catching fraudulent activities early and reducing compliance-related losses.