Introduction
Bleakley, a registered investment advisory firm, struggled with manual processes for data extraction and reconciliation, leading to operational bottlenecks, delays, and errors. As its client base and portfolios grew, Bleakley needed a solution to automate workflows, ensure accuracy, and integrate with platforms like Orion and Egnyte.
In partnership with Amazon Web Services (AWS), Digital Alpha Platforms developed a Gen AI-powered Intelligent Document Processing solution that automated key workflows, ensured compliance, and improved operational efficiency.
Operational Challenges Faced By Bleakley
- Inefficient Manual Data Extraction: Data such as fees, custodians, and household details were manually extracted from diverse document formats (e.g., scanned PDFs, handwritten agreements), leading to time-consuming and error-prone processes.
- Fragmented Systems and Data Silos: The lack of integration between Orion (portfolio management) and Egnyte (document storage) caused inefficiencies and delays in reporting and data handling.
- Scalability Challenges: The growing volume of documents due to an expanding client base overwhelmed manual workflows, hindering scalability and increasing operational costs.
- Compliance and Security Concerns: Operating in a regulated industry, Bleakley needed a solution that met stringent data security standards and ensured compliance with financial regulations.
The Solution: Intelligent Automation with AWS
Digital Alpha designed a comprehensive solution using AWS services to automate document processing, integrate systems, and improve operational efficiency.
- Automated Data Extraction: Amazon Textract automated the extraction of key data points (e.g., fees, custodians) from documents like Investment Advisory Agreement (IAAs). AI models were fine-tuned for high accuracy across various formats, including handwritten notes and overlapping text.
- Seamless System Integration: The solution integrated with Orion to validate account data in real-time and connected with Egnyte for secure document retrievals.
- Reconciliation and Exception Management: An intuitive UI was developed for reconciling and approving data, with workflows to address discrepancies and improve data accuracy.
- Future-Ready Platform Design: The platform was built to scale, allowing for future expansion to additional workflows such as compliance audits and multi-document reconciliation.
Technical Architecture
The solution leverages AWS to enhance scalability, streamline workflows, and ensure compliance:
- Control Tower Setup: AWS Control Tower centralizes governance and enforces compliance with financial regulations using pre-configured guardrails and audit readiness features.
- Security and Perimeter Protection: Data is encrypted with TLS/SSL, access is managed via AWS IAM, and threats are mitigated with AWS WAF, Shield Advanced, and GuardDuty, alongside third-party cybersecurity integration.
- Infrastructure as Code (IaC): AWS CloudFormation automates infrastructure deployment and manages changes to ensure consistency and compliance with minimal risk.
- System Integrations: Real-time data synchronization with Orion and secure document storage via Egnyte APIs streamline workflows and ensure data integrity.
- Document Processing and Validation: AWS Textract handles diverse document formats, and data validation ensures accuracy before integration into the system.
- Reconciliation and Exception Management: A web-based UI allows teams to review and resolve discrepancies in real time, with notifications for flagged issues.
- Cybersecurity Integration: Continuous monitoring and automated incident response workflows provide robust threat detection and management.
- Data Processing Flow: Secure APIs ingest and process data through AWS Lambda for validation and reconciliation, with secure storage and strict access controls.
AWS Services Used
AWS Control Tower, AWS CloudTrail, AWS WAF, AWS Shield Advanced, AWS GuardDuty, AWS Lambda, AWS Secrets Manager, Amazon Textract, AWS API Gateway, AWS IAM, AWS VPC, AWS VPC Endpoints.
This architecture provides a secure, scalable, and compliant solution for Bleakley, ensuring operational efficiency and supporting future growth.
Impact: Significant Business and Operational Improvements
Digital Alpha’s solution delivered measurable benefits for Bleakley:
- 80% Reduction in Processing Time: Automated workflows eliminated manual data extraction, significantly speeding up fee updates and portfolio reporting.
- 95% Accuracy Improvement: AI-powered extraction and validation minimized errors, ensuring more accurate and reliable reporting.
- Cost Savings: Automation reduced reliance on manual labor, enabling cost savings and resource reallocation to higher-value tasks.
- Enhanced Scalability: AWS’s serverless architecture supported growing document volumes without incurring additional infrastructure costs.
- Improved Security and Compliance: Multi-layered security ensured sensitive data protection and compliance with strict regulations.
- Streamlined User Experience: The intuitive interface boosted productivity and facilitated faster exception resolution for internal teams.
Conclusion: Building a Secure and Scalable Future
Digital Alpha’s Intelligent Automation and Reconciliation Solution transformed Bleakley’s operations by automating workflows, improving system integration, and ensuring compliance. Leveraging AWS infrastructure, Bleakley achieved faster processing, greater accuracy, and scalability, positioning the firm for long-term success.
This solution resolved immediate challenges and provided a scalable platform for future growth, allowing Bleakley to focus on delivering exceptional value to clients.
Next Steps: Transform Your Operations with Digital Alpha
If your organization is looking to streamline financial workflows, automate document processing, or enhance system integration, Digital Alpha can help. Contact us today to learn how our AWS-powered solutions can transform your operations.
Contact Us –
- Email: engage@digital-alpha.com
- Phone: +1 609-759-1367