Citi has strategically invested in Numerated, signaling a broader partnership with the AI-driven modular commercial lending platform.
As part of this collaboration, Numerated will deliver its AI-based financial spreading solution to Citi clients across multiple countries and languages.
A significant advantage of adopting Numerated’s platform is its ability to drastically reduce the time associated with financial spreading and analysis. According to the vendor, processing durations have been decreased from several days to mere hours, thanks to the integration of AI technology.
The Numerated platform is designed to handle a variety of financial statement formats from private companies, including handwritten notes, Excel sheets, PDFs, and other commonly utilized documents by business proprietors. Advanced machine learning algorithms ensure precise data capture, normalization, and uniform presentation. Once properly validated by a staff member, this data can be effectively leveraged for various applications.
“Our global collaboration with Numerated demonstrates our dedication to investing in contemporary enterprise lending solutions, while also enhancing our understanding of customer needs,” stated Mike Hershkowitz, Head of Wholesale Lending Product Management at Citi.
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