Citi has strategically invested in Numerated, an AI-powered modular commercial lending platform, marking a significant step in revolutionizing financial spreading and analysis. This partnership aims to deploy Numerated’s cutting-edge financial spreading solution across Citi’s global network, spanning multiple countries and languages.
Numerated’s platform leverages artificial intelligence to dramatically reduce the time needed for financial spreading and analysis from days to mere hours. This efficiency is achieved by processing data from various formats, including handwritten notes, Excel documents, PDFs, and other common business formats, ensuring accurate capture, normalization, and presentation of financial data.
One of the standout features of Numerated is its machine learning algorithms, which ensure data accuracy and consistency. Once validated by an employee, this data can be seamlessly used for multiple financial applications, enhancing operational efficiency.
Mike Hershkowitz, Head of Wholesale Lending Product Management at Citi, expressed the significance of this partnership: “Our global partnership with Numerated shows our commitment to investing in modern enterprise lending solutions as well as better understanding our customers.”
This investment underscores Citi’s dedication to incorporating innovative fintech solutions to streamline commercial lending processes, ultimately providing a more efficient and responsive service to its clients.
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