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

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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

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.

Document generation

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

Traceability

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

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.

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).

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GenAI solution to automate credit memos