Accend Eliminates Manual Financial Spreading to Help Credit Teams Move Faster and Smarter

Every credit decision starts with numbers. But if you’re still manually spreading those numbers, you’re wasting time, money, and risking costly errors, says Pranjal Daga.

Financial analysts at banks, fintechs, insurers, and lenders have spent countless hours manually spreading and analyzing financial statements, a slow, error-prone process that drags down approval speeds and inflates operational costs. Despite advances in automation across industries, underwriting remains largely manual, creating a billion-dollar inefficiency that financial institutions worldwide have struggled to resolve.

Accend, a company built on addressing inefficiencies in financial data analysis, is tackling this problem head-on. The company has officially launched its AI-powered Financial Statement Spreading & Analysis solution, marking its expansion into underwriting. The goal is simple: deliver 100% accuracy by combining AI-driven analysis with human-in-the-loop validation, allowing credit teams to move faster without sacrificing precision.

Underwriting teams across financial institutions operate in an environment where accuracy is non-negotiable. Yet, the traditional approach to financial statement analysis is riddled with inefficiencies. Analysts manually extract and enter data, cross-check numbers, and compile credit memos, resulting in slow approvals and costly errors.