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FlashSpread

FlashSpread

Lending
Commercial Lending
Flashspread's Automated Tax Return Spreading
Lending
Commercial Lending
Flashspread's Automated Tax Return Spreading

FlashSpread’s Spreading Tax Returns application instantly converts scanned or digital pdf tax returns into complex and comprehensive financial reports and analysis with little to no human interaction - from collection and extraction, verification and importing to the CreditQuest Financial Analyzer for spread calculation. This enables Banks and Credit Unions as lenders to make error free, data-driven, credit decisions for faster commercial loans application decisioning.

When making new deals or annual reviews of existing ones, credit officers need to ensure that all figures extracted from tax return are accurate, or risk providing wrong spread information. In addition, while the application process is highly manual (scanned documents, watermarks, etc…), the customer expects efficient processing, despite the poor quality of the documents they provide. Banks and Credit Unions need a reduced decisioning and annual review time to be competitive to win and retain customers, by automating their tax return spreading.

Speed and Accuracy

It takes hours to spread a deal, either because of a human based process or due to an OCR technology that turns out to be too limited on low quality paper scans. By using FlashSpread, you overcome this bottleneck and reduce the deal spreading time by 96%.

100% Data Confidence

FlashSpread platform can identify incorrect values and manually adjust them. After the extraction and digitization of the information, only 18% of the overall number of tax returns require a manual intervention. Then, the easy validation tool allows to edit any values in the tax return and/or reports, while viewing the original file side-by-side, giving you 100% confidence in your data.

Full e2e automation for quick decisioning

Lenders are tasked with hours of manual entry of tax returns for new applications as well as for each of the loans in their portfolio annually, hindering responsiveness. Turnkey automation with CreditQuest: tax return collection, extraction, verification, figures integration and calculations resulting in reduced decisioning time for loan application - Reducing tax return data entry time by 96%, thus improving the overall loan decisioning process.

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General information

Commercial model
Resell
Integration
Pre-integrated products
Fusion CreditQuest
doneAvailable for all 3rd party systems
Implementation
Cloud Hosted
Website
Support
Business countries (1)
United States
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Data processing countries (1)
United States
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Finastra employees only
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How it works

FlashSpread converts scanned tax returns into global cash flow and debt service analysis in seconds with click of a button. The solution is integrated with CreditQuest – Financial Analyzer APIs over FusionFabric.Cloud platform providing a turnkey solution with minimum implementation effort.

Automated checklists

Lender initiates a loan in Fusion CreditQuest, setting required forms and documents.

Digital experience

Borrower requested to upload tax return documents using the link sent by FlashSpread​.

Time saving

FlashSpread portal guides the borrower in uploading documents digitally​.

Secure and fast ​

Flashspread’s proprietary algorithms extracts and digitize data from scanned documents.

Efficiency turned to cost savings and revenue generation

Lender gets the verified documents directly to Fusion CreditQuest, assesses risk, and issues the loan much faster.
How it works

How it looks

Upload documents

Browse and submit your documents. The application takes from 30 to 90 seconds to convert it to digital assets. The document is also cleaned from any “noise”: waterparks, low DPI, rotation, etc. Show less

Manual validation

Some of the documents needs manual intervention. Use the side-to-side view with the original document to edit and fix the potential errors. Show less
screenshot container
Upload documentsManual validation

Upload documents

Browse and submit your documents. The application takes from 30 to 90 seconds to convert it to digital assets. The document is also cleaned from any “noise”: waterparks, low DPI, rotation, etc.

Resources

FlashSpread
FACTSHEET
Flashspread