ZUG, SWITZERLAND – April 29, 2025 –
Evalueserve, a global leader in technology-enhanced managed services for financial institutions, announces significant enhancements to Spreadsmart, its AI-powered financial spreading tool. By expanding its automated data extraction capabilities to include U.S. tax forms alongside financial statements, Spreadsmart now offers a more robust solution, enabling banks to capture key financials swiftly and accurately for underwriting and credit monitoring.
The 1040 form, a critical document for individual tax reporting in the United States, contains essential data that consumer and business banking teams use to assess credit risk. The Spreadsmart tax forms module efficiently transforms tax returns into readable files, extracts necessary information based on client-specific guidelines, and validates the data with minimal human intervention. In automating financial data extraction, Spreadsmart delivers 80% faster spreading with 99.6% data accuracy, increasing consistency and minimizing human error, which leads to quicker and more accurate credit decisions.
This capability is made possible through a mix of AI, OCR, and mapping technology. With decades of hands-on experience in financial spreading, the Evalueserve team understands that AI must be domain-specific, working seamlessly with business rules to deliver the best outcomes. Their solution ensures that the tool not only captures data efficiently but also aligns with the specific requirements of banks’ unique spreading guidelines, further enhancing the speed and reliability of credit risk assessments.
“We remain committed to delivering operational enhancements throughout the credit lifecycle, and automated financial spreading has proven effective in eliminating bottlenecks and streamlining credit processes for our clients,” says Saikat Gupta, Head of Automation and Products for Financial Services at Evalueserve. “With the latest enhancements, Spreadsmart now automates nearly all spreading requirements for U.S. banks, allowing credit officers to make accurate credit decisions more rapidly. This advancement is a major step in our ongoing mission to support our clients in their lending transformation journeys, driving a competitive advantage and improving oversight.”
About Evalueserve
Evalueserve is a global leader in providing technology-enhanced managed services to clients in the financial services industry. The company offers innovative and sustainable solutions, serving over 60 of the world’s largest financial institutions. With a presence in more than 45 countries across five continents, Evalueserve leverages state-of-the-art technology, domain-specific AI solutions, and deep subject matter expertise to enhance its clients’ strategic decision-making and business impact.
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For interview requests and any other information, please contact Allison Cornett at marketing@evalueserve.com.
