How a Top 20 Global Bank Eliminates the Pain of Financial Spreading Using AI

• Slow processing time: With a fully manual process, Financial Spreading can take up a great amount of time, especially when there are any mistakes or inconsistencies made by any of the involved parties.

• Prone to error: The non-standard format of input, spread and output of data often leads to inaccurate results. This is derived mainly from the lack of a universal classification and interpretation of such data.

• Cost inefficiency: A repetitive task without a defined process does indeed spend an unreasonable amount of human resources – which can be allocated to better use and on more valuable tasks.

This new process reduces the number of steps and people involved in the bank’s Financial Spreading workflow. It also speeds up the processing time and significantly reduces the risk of errors. Furthermore, with the help of the Expert-in-the-loop model (EITL), the AI-driven process will only look to bring in humans when the situation requires it. This will allow the AI model to gradually learn and improve, which then reduces the frequency of human intervention.