Jan 22, 2015, 06:00 ET
RAGE Frameworks adds Bank Statement processing to its Financial Statement Automation suite, dramatically improving Credit Risk analysis
DEDHAM, Mass., Jan. 22, 2015 /PRNewswire/ — RAGE Frameworks, a provider of technology enabled solutions and services, announced a series of enhancements to its Statement Spreading product [LiveSpread™ ] this week, including automated Bank Statement processing, which will add significantly to the quality of credit analysis and bring dramatic efficiencies over manual processes.
RAGE LiveSpread™ uses patented technology to automatically aggregate and extract data from financial statements, tax returns [K-1, 1040] and other documents in any form, format and language, including paper statements, and normalizes the extracted data to client specific formats. With this new release borrower bank statements will be automatically extracted, normalized and spread, providing important and previously unavailable payment information and other potential indicators of credit health. Where desired, the solution can automatically populate the data into other spreading and risk management applications including Moody’s RiskCalc or Baker Hill.
Gathering and extracting financial data from client submissions, is almost universally a manual, non-responsive, error-prone and non-scalable process today. Timely and consistent application of credit policy across the enterprise is extremely challenging at best and becomes increasingly difficult to operationalize as the organization scales. RAGE LiveSpread™ brings deep automation and the power of straight through processing to this underserved area, along with unprecedented advantages in cost, quality and compliance.
About RAGE Frameworks, Inc.
RAGE Frameworks Inc. is a leader in Big Data and Business Process Automation technology providing Enterprise solutions in Wealth Management and Business Banking, breakthrough Information Products and Custom Solutions to power Business Transformation. RAGE’s vision is to bring unprecedented Speed, Flexibility and Insight in solving some of the most complex, critical business problems.
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