Success Story
78% Reduction in Financial Spreading Time Across 2,400 Borrowers for a US-Based Regional Bank Using CovenAce™
Client Introduction
A US-based regional bank serving middle-market and small business borrowers, with about 2,400 commercial relationships spread at least once a year.
Problem Statement
Financial spreading consumed most of the analysts' week and still produced inconsistent results. Key challenges included:
- ~3 hours to spread a single borrower
- Statements arriving as PDFs, scans and Excel files in dozens of layouts
- Spreading templates that differed by analyst and region
- Inconsistent treatment of add-backs, driving credit committee rework
- Spreads completed ~30 business days after statement receipt
The bank wanted consistent, policy-aligned spreads and more analyst time for credit judgment.
Solution Offered
Anaptyss deployed the CovenAce™ Financial Spreading module on one standard template aligned with the bank's credit policy. Specialized AI agents draft each spread, verify every value against the source statement and format the output for the bank's systems.
Analysts review every spread before write-back, and each correction feeds back into the models through governed release controls.
Key Solution Delivered
- Configured one standard spreading template aligned with credit policy
- Automated extraction from PDF, scanned and Excel statements
- Actor, critic and formatter agents to draft, verify and structure spreads
- Automated calculation of DSCR, leverage and liquidity ratios
- Analyst review queue with source-page references for every value
- Untraceable values flagged for analyst review
- Reinforcement learning from analyst corrections, validated before release
- Spread exports to the loan system and Excel workbooks
Business Outcomes
- 78% reduction in spreading time, from ~3 hours to ~40 minutes per borrower.
- First-pass extraction accuracy improved from ~94% to ~99% in three quarters.
- 5,500+ analyst hours returned to credit analysis each year.
- Spreads completed within 10 business days of statement receipt.
Turning Complex Challenges into
Measurable Outcomes
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