GenAI solution to automate credit memos

Developed by GFT Spain together with Oliver Wyman

20 September 2024

The Credit Risk Assistant utilises advanced techniques such as GenAI to enhance the credit memos in banks. It automates the processing of different data sources and provides the insights that analysts require to create these reports.

20 September 2024

A confident woman wearing glasses looks ahead with a focused expression, with a subtle rainbow reflection on her face, symbolising strategic thinking and modern business acumen. — Explore how strategic thinking shapes the future of modern business, with professionals at GFT leading the way in innovative approaches and forward-looking strategies that drive success.

Automated process

Benefits

Efficiency

Up to 30-40% time savings in the creation and maintenance of memos by streamlining time-consuming tasks, minimising errors and freeing up analysts' time for value-adding analysis.

Quality and consistency

Minimises human errors and ensures that all memo sections are thoroughly completed. Standardised report, reducing human bias and strictly adhering to company standards.

Transparency

All generated reports are linked to a specific document and provide reliable scores and a record of all changes.

Simplifying a complex task

Creating credit memos in banks involves significant challenges, including ensuring data accuracy and regulatory compliance, conducting thorough risk assessments, and managing interdepartmental coordination. Time management and technological integration are critical for efficiency, while maintaining high quality control standards. These complexities necessitate robust systems and clear communication among all stakeholders involved in the process.

Automatically generate credit memos

The Credit Risk Assistant generates comprehensive multi-language reports within minutes through a user-friendly interface. It collates data from multiple trusted internal and external sources while allowing feedback and refinements by the analyst.

Features

Data and metadata upload and storage

Document generation

Traceability

Human in the loop

Multi-language PDF export

Credit Risk Assistant interface with a document upload feature. The drag-and-drop functionality allows users to upload relevant files to enhance credit memo sections.

Data and metadata upload and storage

Embeddings are generated for the uploaded documents and loaded into a database. Metadata is used to categorise / associate data with companies, sectors, etc.
Uploaded files are stored in the cloud. The generated files are stored in the database by sections, and the PDF is generated based on these sections.

A preview of the Credit Risk Assistant tool's "Create a New Memo" screen. Users can review, update, and regenerate credit memo sections with relevant financial data.

Document generation

Able to generate tailored documents made of different sections. Data uploaded can be associated with the different sections.

Screenshot of a credit memo document management interface where users can view, download, and delete associated documents.

Traceability

Provides traceable sources for the content generated in each section, ensuring transparency and accountability. Also provides a confidence score for the sections produced.

Credit Risk Assistant's integrated chat support feature, assisting users in real-time with credit memo creation by answering financial and company-related queries.

Human in the loop

There is a chat where an operator can make adjustments via chat to improve tool responses. It can also be used to query the uploaded documents.

An animated GIF of a laptop screen displaying a bilingual PDF document titled "Credit Memo Document for Zenith Motion," with English content on the left and the same content in Spanish on the right. The sections include "Economic activity" and "History" in English, and "Actividad económica" and "Historial empresarial" in Spanish.

Multi-language PDF export

Credit memo documents are exported to PDF for their subsequent analysis. Able to generate the reports in multiple languages (all supported by LLMs).

Two professionals engaged in a collaborative discussion, sitting at a desk with a laptop, notebooks, and coffee, showcasing an image design services setup. — Explore our Collaborative Image Design Services, featuring two professionals engaged in a creative discussion. This image captures the essence of teamwork and innovation, highlighting our commitment to delivering exceptional design solutions. Our services focus on creating visually compelling images that enhance your brand's message and appeal. Partner with us to bring your creative ideas to life with precision and style.

News

GenAI solution to automate credit memos