
Berenberg, one of Europe’s oldest and leading privately owned banks, sought a faster and more reliable way to review its ICT third-party service provider contracts against the requirements of the Digital Operational Resilience Act (DORA). With DORA compliance becoming mandatory by January 2025, Berenberg needed a solution that would automate contract reviews, ensure DORA alignment, reduce costs and errors, support the register of information, and accelerate contract renegotiations. The AI assistant led to a 70% increase in processing speed, 80% reduction in manual effort, with an accuracy rate of 90-95%.
“The AI assistant for contract review has significantly accelerated our approach to DORA compliance. Its automated clause-by-clause analysis quickly identifies discrepancies, suggests relevant amendments, automatically generates addenda for renegotiation with our ICT third-party service providers and extracts relevant contract data for reporting to the information register—all with remarkable accuracy. By reducing manual effort by 80%, we have significantly reduced both, our costs and resource bottlenecks, allowing our team to focus on higher value tasks.”
Alexander Martens, Procurement / Provider Management at Berenberg
View Case Study