Citi Backs Numerated’s Commercial Lending Platform With An Investment

As part of its broader collaboration with a Commercial lending platform with AI modules, Citi has invested strategically in Numerated.

As part of the deal, Citi’s users across the globe will be provided with an AI-enabled financial spreading solution by the Numerated.

One significant benefit of applying Numerated is the reduced time needed for analysis and financial spreading, slashing down the processing time with the help of AI from days to hours.

This speed improvement enhances the operation’s effectiveness. It assists alternative lenders and banks keep a detailed data record and find clear patterns about the risk factors for current and future clients.

The Numerated Platform Can Handle Various Types Of Data From Financial Statements

The Numerated platform can handle different forms of data from various financial statements for private businesses. It can process PDFs, Excel documents, handwritten notes, and other formats that business owners often use; this reveals its ability to adapt and be flexible.

Using smart computer programs, Numerated ensures that data is correctly captured, organized, and presented in the same way, no matter what format it started in. After an employee checks the data, it can be used for many different purposes.

Financial companies and banks experience the challenge of correctly handling a lot of data. The shift from using Excel to an automated platform is set to change how financial data is collected, making the process more accurate and faster.

Katya Chupryna, a director at Citi’s Markets Strategic Investments section, stated that investing in Numerated highlighted the company’s commitment to promoting innovation in the ecosystem. The company witnesses the innovative approach towards commercial borrowing, making it possible for financial institutions to boost efficiency and convenience for borrowers.

Numerated Is Committed To Promoting Innovation

Numerated changes the method of borrowing money from financial institutions to businesses, making the ways faster and easier. Credit unions and banks use Numerated’s online business lending solutions to surpass borrowers’ hopes for convenience and greatly improve efficiency.

The platform uses the information and makes it easier to start and approve business loans, from when someone applies until the loan is approved and finished.

The president at Numerated, David O’Malley, expressed his joy at Citi’s choice of firm to be a provider of its technology suite for lending. He further mentioned that Citi believes in the company’s technology and trusts its abilities.

Over 500,000 businesses and 30,000 financial institution workers have used the platform to process more than $50 billion in loans. This will make Numerated the fastest-growing fintech software company in 2022, according to Inc.