Hawthorn River, the loan origination software solution dedicated to empowering community banks, announced a partnership with leading fintech firm BeSmartee to integrate its financial spreading product, FlashSpread. FlashSpread offers a monumental leap in efficiency, transforming a normally lengthy process into mere minutes while also bolstering data quality.
“Hawthorn River is about creating meaningful efficiencies for community banks,” said Jon Rigsby, CEO of Hawthorn River. “Our partnership with BeSmartee and the integration of the FlashSpread product ensures these institutions can focus on their core mission – serving the banking community – by automating and simplifying the financial spreading process.”
Commercial Lending Reimagined: Hawthorn River with BeSmartee
In the evolving landscape of financial technology, BeSmartee’s FlashSpread product emerges as a game-changer, enabling lenders to transform raw data into an accurate Debt Service Coverage Ratio (DSCR) within seconds. This pioneering commercial lending technology equips lenders with the tools necessary to make swift, error-free, and data-driven credit decisions.
FlashSpread leverages the power of Optical Character Recognition (OCR), Artificial Intelligence (AI), and proprietary algorithms to facilitate:
- Effortless uploading of scanned tax returns with a drag-and-drop feature for files into the FlashSpread platform.
- Instantaneous spreading of financial data, ensuring rapid identification of potential errors or missing data.
- Generation of immediate credit analysis via custom financial spreads – replacing the need for conventional spreadsheets.
- Elimination of manual keying of financial data using an intelligent OCR validation process.
- Real-time creation of advanced spreading ratios and outputs, like UCA Cash Flow Analysis.
- Easy integration of Financial Spreads into loan proposals, streamlining the loan committee approval process.
“BeSmartee’s FlashSpread product modernizes a traditionally cumbersome process that, with a simple click, turns PDF tax returns into comprehensive financial reports,” explained Ariel Trybuch, VP of Strategic Partnerships for BeSmartee. “Bankers no longer have to wade through the time-consuming task of manually inputting financial data. FlashSpread’s intelligent OCR validation process offers advanced spreading ratios and outputs, automatically creating a UCA Cash Flow Analysis in real-time, generating financial spreads that can be smoothly integrated into loan proposals – streamlining the loan committee approval process.”
FlashSpread’s comprehensive features also enable complete analysis of multiple financial outputs, including:
- Balance sheets
- Income statements
- Business and individual cash flow
- UCA cash flow
- Global analysis and ratios
Source: Company Press Release
