United First Partners, a renowned broker of securities in the US, had developed expertise in SPACs, also known as blank check companies, one of the highest growth sectors seen over the last couple of years. They had been providing intelligence in the form of manual reports, research articles, screeners, price information, recommendations, and price targets. This intelligence relied heavily on complex reports downloaded from the SEC portal, a public website containing documents and reports filed by public companies and it was extremely time-consuming for the UFP team.
Idea
The SEC portal adds a large number of new filings on a daily basis, resulting in tens of thousands of financial documents needing to be analyzed for key information on SPACs. On top of that, price information on securities ( units, stocks, and warrants ) needs to be pulled from our price API. Aikyo built a cloud-based architecture on AWS, with automated crawlers extracting data from filing, going through data validation and outlier detection layers, before feeding NLP models trained on tens of thousands of documents to extract SPAC-specific information.
Impact
UFP deployed ufpspac.com, a web portal used on daily basis by their customers, that provides them with extremely valuable information on SPACs. The portal is secured, mobile-friendly, and fully automated. It enables UFP customers to gain access to real-time intelligence in the form of product pages, multi-criteria filtering, and diverse charts instead of PDF monthly reports as was the case previously. This saves the research team thousands of man-hours every month and generates new customer traction and new streams of revenue.
