IBM supports Erste Bank in digitizing balance sheet analysis

IBM supports Erste Bank in digitizing balance sheet analysis

sDG, the service company of Erste Bank and the Sparkassengruppe, has deployed a new solution for balance sheet analysis in order to optimize its business processes. The platform was developed by IBM and is made available via the IBM Cloud. […]

Part of the collaboration, which began in mid-2020, is the COBI (Cognitive Balance Sheet Insights) AI solution developed by IBM Global Business Services and hosted on the IBM Cloud, which makes the complex and time-consuming process of balance sheet spreading for credit risk management more efficient. IBM Cloud is designed to enable sDG to easily transform their business operations with the highest level of security. Through IBM Cloud, sDG can also seamlessly leverage other technologies such as AI.

SDG’s analysts process tens of thousands of balance sheets every year. In the context of balance sheet spreading, the balance sheet data are analyzed and form the basis for subsequent, often far-reaching decisions, in particular lending. So far, this is a largely manual process that requires time and appropriate expertise. With CoBI, the balance sheet data is automatically extracted from the annual reports and structured. The advantages are significantly shorter throughput times for the analysis and evaluation of balance sheets.

Further step towards digitalization of processes

For Ekkehard Preis, Head of Banking Services at Erste Group Bank AG, the advantages are obvious: “The system performs exactly those tasks that are time-consuming for our employees. This frees up time for qualitative advice for the customer. CoBI is thus an important component for the digitization of our processes and a contribution to increasing the efficiency of our services for our customers, Erste Bank Austria and the Sparkassengruppe.“

“Automating such complicated processes requires an accurate understanding of the technical requirements. In addition, the banking sector is highly regulated and numerous compliance requirements must be met. Technologies such as AI, automation and hybrid cloud must therefore be understood and used selectively. Our goal is to anticipate the needs of customers, to advise and accompany them in their digital transformation. We are pleased that we were able to inspire sDG with CoBI in their further digitization, ” agrees Martin Güttl, Partner Financial Services, IBM Global Business Services.

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