GFT’s Generative AI Credit Risk Assistant to Inform Major Lending Decisions

Global digital transformation company GFT Technologies announced its work to launch a generative AI powered credit risk assistant in the U.S. to inform and scale lending decisions for private capital firms and banks. The new tool automatically pieces together vast amounts of financial data to create credit reports, reducing timelines from hours and even days to mere minutes while ensuring compliance. By saving time on report creation, credit analysts can now increase their focus on assessing complex risk decisions.

In the credit industry, every second counts–but moving too quickly can lead to human error, and a single oversight can impact major lending decisions. Considering that it can take days of manual work to compile a risk report, the only way for companies to move more quickly without overloading workers and risking mistakes has been to scale teams. Now, however, with private credit experiencing a 17.5% compound annual growth rate over the past several years, there is a significant opportunity for institutions that can make lending decisions faster with higher confidence.

GFT set out to capitalize on this opportunity with the launch of a Generative AI assistant that creates comprehensive credit reports and elevates analysts’ roles, allowing them to apply their expertise to more lending decisions. The new tool automates previously manual, time intensive processes including:

• Gathers and analyzes vast amounts of financial data in minutes. Historically it would take hours – or even days – to centralize the data necessary for in depth reporting. The AI Assistant allows lenders to verify information with source links in minutes so analysts can quickly fact check reports.
• Assigns risk scores to the information included in the reports before passing them to analysts. The AI assistant essentially evaluates its own work, allowing analysts to assess the level of oversight and manual checks the report requires.
• Handles financial information from any market. The AI assistant can process data in any language, making it easily scalable across an international enterprise to all countries the organization operates within.
• Configures credit risk reporting outputs with the organization’s internal risk requirements, as well as local compliance obligations. This gives firms confidence that outputs take the necessary risk and compliance considerations into account.

Risk analysts can then use the resulting data and insights to make complex risk decisions–and more of them, now that their time isn’t spent gathering and preparing reports. With this ability, private capital firms and banks can generate significantly higher margins for credit business units.

“Credit risk assessments have only increased in volume and complexity as the private credit landscape has changed in recent years,” said Rishi Chohan, CEO USA at GFT. “We have a long history of working alongside asset management firms, modernizing legacy systems in order to streamline operations and drive further revenue. Now, as the market and their needs evolve, we are taking the next step – introducing AI-powered use cases to solve even the most complex workflow challenges.”

Several global asset management firms are already using the solution and have benefited from significant efficiency gains in their credit business units.

The AI credit risk assistant was created at the GFT Innovation Lab, a center to test new cloud and AI-powered technologies in simulated real-world environments.