Revolutionize Loan Lifecycle Management with Automated Financial Spreading

The banking industry is undergoing rapid transformation, demanding innovative solutions to enhance efficiency, accuracy, and productivity. Automated spreading, a cutting-edge technology that leverages OCR, ML, and AI, is reshaping the financial landscape. By automating the extraction and integration of data from financial documents, this solution is revolutionizing how banks operate.

Automated Financial Spreading Page
Manual Data Entry

Challenges of Manual Data Entry

Manual data entry is a time-consuming and error-prone process that significantly impacts the efficiency and accuracy of financial analysis. Credit analysts spend countless hours manually inputting data from financial statements, tax returns, and other documents into spreadsheets. This not only hinders productivity but also increases the risk of human error.

How Automated Financial Spreading Works

Automated spreading streamlines the financial data processing workflow by:

Uploading Financial Documents

Accepting various document formats (PDF, scanned images, physical documents) for seamless integration.

Extracting Data

Utilizing OCR technology to accurately convert text from images into digital format, identifying key financial information.

Classifying Data

Employing ML algorithms to categorize extracted data into relevant financial categories (revenue, expenses, assets, liabilities, equity).

Integrating Data

Seamlessly transferring classified data into financial analysis tools for in-depth analysis and reporting.

Benefits of Automated Financial Spreading

Reduced time and costs

Streamline data processing, free up analyst time for strategic tasks, and lower operational costs.

Improved accuracy

Eliminate human error through automation, ensuring reliable and precise financial data.

Enhanced productivity

Handle larger data volumes efficiently, accelerate loan processing, and improve customer service.

Increased scalability

Adapt to changing market conditions, handle growing workloads, and maintain competitive advantage.

Use Cases in Banking

Automated spreading empowers banks to:

  • Optimize credit analysis: Quickly extract and analyze financial data from loan applications for informed lending decisions.
  • Accelerate underwriting: Streamline the underwriting process for faster loan approvals.
  • Mitigate financial risks: Identify and manage risks through real-time insights into customer portfolios and market trends.
Banking Use Cases-1

Consider Vikar

Automated spreading is a game-changer for the banking industry, driving efficiency, accuracy, and scalability. By partnering with a fintech leader like Vikar Technologies, banks can harness the power of automated spreading and unlock new opportunities for growth and success.