GFT Technologies has announced its plan to launch a generative AI credit risk assistant in the US to support and optimise lending decisions for capital firms and banks.
The new tool automatically analyses various amounts of financial data to generate credit reports, reducing timelines from hours or days to minutes while ensuring compliance. By saving time on report creation, credit analysts can focus on assessing complex risk decisions.
Additionally, private credit experienced a 17.5% compound annual growth rate in recent years, offering an opportunity for institutions that can optimise their lending decisions.
Potential benefits for analysts
Addressing this growing demand, GFT launched a Generative AI assistant that creates comprehensive credit reports and optimises analysts' roles, allowing them to focus more on lending decisions. The new tool automates previously manual and time-consuming tasks, including:
- Gathers and analyses vast amounts of financial data in minutes. Previously, it could take hours or days to centralise the data needed for in-depth reporting. The AI Assistant allows lenders to verify information with source links in minutes, and analysts can review reports;
- Assigns risk scores to the information included in the reports before passing them to analysts. The AI assistant evaluates its own work, enabling analysts to assess the amount of oversight and manual checks needed for the report.
- Manages financial data from any market. The AI assistant can process information in any language, making it optimally scalable across global organizations operating in multiple countries.
- Customises credit risk reporting outputs to match the organization’s internal risk needs and local compliance requirements. This ensures that outputs consider all necessary risk and compliance factors.
Therefore, risk analysts can use the resulting data and insights to make complex risk decisions. Within this feature, private capital firms and banks can generate more optimal margins for their credit business units.
Several global asset management firms are already using the solution. The AI credit risk assistant was developed at the GFT Innovation Lab, a center dedicated to testing new cloud and AI-powered technologies in simulated real-world environments.
