FlashSpread

Software company Hawthorn River is teaming up with fintech BeSmartee to integrate its financial spreading product, FlashSpread. FlashSpread uses Optical Character Recognition, AI, and proprietary algorithms to transform raw data into a Debt Service Coverage Ratio with the press of a button. This allows lenders to make credit decisions quickly and with confidence. “Hawthorn River is about creating meaningful efficiencies for community banks,” said Jon Rigsby, CEO of Hawthorn River. “Our partnership with BeSmartee and the integration of the FlashSpread product ensures these institutions can focus on their core mission – serving the banking community – by automating and simplifying the financial spreading process.” Lenders can upload scanned tax returns, get instantaneous spreading of financial data with potential errors or…