Many financial institutions waste a ton of time getting Excel files from their customers to review balance sheets. As many small businesses face some liquidity issues right now, automating data aggregation can speed up the time it takes to secure money on your bank account after applying for a loan. With more accurate data and some level of standardization, financial institutions could improve their models more easily as well.

https://techcrunch.com/2020/06/10/codat-raises-10-million-to-aggregate-all-financial-data-from-small-businesses/