Caselet → Balance sheet analysis for lead generation
Caselet → Financial Statement Analyzer
Qualified lead generation with a systematic analysis of financial statements
Learn how a commercial bank transformed its lead generation with AI-powered analysis of Balance Sheets and P&L Statements
Background Insight
Corporate lending
Firstland Bank is an American banking corporation that offers deposit, mortgage, and other financial services to retail and enterprise organizations.
The bank has an AUM of $1.8 billion, with over 900 employees operating from 18 branch offices. Beyond loans and banking, the bank proactively seeks out small businesses in need of financial guidance. Their dedicated team dives into company reports to identify potential clients and connect them with personalized financial solutions.
(For confidentiality purposes, the names and identifying details used in this case have been altered.)
Challenges in financial automation
Balance Sheets and Profit & Loss Statements reveal a company’s financial health. Loan providers traditionally rely on manual examination by teams to extract data from these documents for underwriting decisions, a time-consuming process prone to errors.
For Firstland Bank, these human-centric processes proved to be inadequate to meet growing business needs and market expectations. The challenges demanded a robust, automated, intelligent, and scalable document processing solution.
Labor-intensive
workflows
Manual processing of documents calls for considerable human efforts and is inherently inefficient.
Inaccurate
results
The time-consuming, tiresome, and repetitive manual work is error-prone and subject to human limitations.
Variations in
terminology
Companies don’t use a standardized set of descriptions, with each document requiring a diligent, prolonged review.
Diverse document
formats
Layout and format differences among Balance Sheets and P&L Statements make data extraction a formidable exercise.
Transform loan approval using cutting-edge AI
technology for streamlined processes.
Solution
Finuit's custom Financial Statement Analyzer swiftly extracts data
from PDFs, integrates seamlessly with Firstland Bank's operations.
Instant, comprehensive classification
Automatically identifies document type, extracts key figures from extensive annual reports for analysis.
User-friendly and
versatile
User-friendly browser controls, customizable rules for preferred ratios, and results exportable in Excel, CSV, or JSON.
Advance filtering mechanism
Keyword filtering enables thorough data analysis, refining information for targeted reviews and informed decisions.
Features of the solution
Reassurance of data accuracy with
AI-powered Confidence Scores
Feature-rich dashboard for trouble-free management
Designed for diverse document
formats, classifications, and layouts
Customizable rules for data
extraction and analysis
Creditworthiness and risk parameters
for quick decisions
Cross-document data integrity
checks for fraud prevention
Results
Firstland Bank used the Finuit's Financial Statement Analyzer to understand customer needs better,
resulting in improved products, services, and faster customer onboarding.
100
+
Documents
5
Minutes
1200
+
Files per month
RESULTS
Finuit’s
performance
highlights
Finuit’s performance highlights
Faster analysis of compiled, critical financial data
Simpler decision-making with automatic categorization of assets and liabilities, along with the calculation of net worth and a host of credit-related parameters
Comprehensive assessment of businesses
Purpose-built algorithms provide an in-depth view of the business's financial well-being, offering vital insights with ratio analysis, historical reviews, and benchmarking against industry peers
Robust evaluation of risks
Improved identification of discrepancies and outliers such as major expenses, irregular revenues, or unrealistic profits
Targeted selling
Leveraged qualified lead data to personalize offerings and increase conversion rates.
How can your lending business capitalize on the power of AI?
A diligent assessment of customers’ financial statements is integral to loan approval processes. How does your team interpret multiple, complex documents? Is the exercise efficient and error-free?
Eliminate uncertainties from underwriting workflows. FInuit’s Financial Statement Analyzer facilitates speedy and accurate data analysis, ensuring your credit business stays profitable