A global multinational banking and financial services company with large rural and agricultural banking operations in Australia and New Zealand, processed 80K financial statements per year as part of its loan origination process. The manual processing of non-standardized annual reports and financial statements was effort-intensive, highly inefficient, and prone to errors. Moreover, the bank’s legacy financial spreading tool was reaching its end of life.
The bank was thus looking to adopt a platform approach to:
They leveraged EdgeVerve AI Next, a unified platform, to build a Financial Spreading Solution that would supercharge its loan origination and loan review processes.
Key business benefits delivered:
Estimated reduction in processing time per financial spread by ~60%
Reduced turnaround time by 30% to 50% for loan applications and loan review
Reduced the year-end peak workload by 50%, ensuring smooth processing
Increased accuracy to 100%, improved efficiency and speed of financial spreading
Embrace the future of financial spreading with EdgeVerve AI Next!
Download the case study to discover how EdgeVerve AI Next enabled the bank to overcome the challenges of manual financial spreading, accelerate loan origination, and boost revenues.
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