Discover a wealth of insightful materials meticulously crafted to provide you with a comprehensive understanding of the latest trends.
Accounting is considered to be one of the oldest professions in the world. Every business needs the accounting function to thrive and be efficient, as it drives growth and optimisation. Currently, the accounting process faces several challenges as the amount of financial data generated from digital processes keeps increasing. Bookkeeping alone – which requires systematic […]
In the digital era, precise financial record-keeping is crucial for customers and corporations. Learning how to scan bank statements can provide valuable insights into transactions, facilitating informed financial decisions. However, manual processes are often error-prone and time-consuming. Automating bulk scanning for bank statements is recommended to improve efficiency and accuracy. According to IDC, banking is […]
Today, data-driven decisions have become a success mantra for many forward-looking businesses. The traditional way of making impactful decisions based on intuition or limited data points can result in an opportunity loss. This is where software solutions powered by Artificial Intelligence (AI) score over legacy software. The AI software market is projected to grow from […]
In today’s constantly changing financial landscape, startups are faced with the challenge of staying ahead of the competition. 90% of companies fail, underlining the necessity for innovative strategies to survive and succeed in the market. The use of sophisticated analytics tools has become a potent strategy for fostering innovation and achieving a competitive edge. A […]
A balance sheet is a vital financial statement that summarises a company’s assets, liabilities, and equity status as of the reporting date. Data in a balance sheet serves as the foundation for determining the firm’s financial performance, the resilience of its fundamentals, and forecasting its future performance. The principal use of balance-sheet analysis is for […]
In today’s dynamic financial world, risk management is critical to ensuring the stability and sustainability of financial institutions. One critical part of risk management is the early detection of prospective credit defaults, which can have far-reaching consequences for an institution’s financial health. To accomplish this, financial experts use a variety of instruments and indicators, one […]
Bank financial statement analysis is critical for assessing the financial health of banks. However, manual analysis of complex financial statements requires significant time and effort to extract, organise, and interpret data accurately. On top of that, intricate financial instruments and diverse accounting standards further complicate the process. To enhance efficiency, banks are adopting technology-driven solutions. […]
Offering outstanding customer service is crucial for financial institutions to stay ahead in today’s competitive banking environment. A Business Wire study notes that 72% of customers seek personalised services. Therefore, banks have to seek creative approaches to satisfy their demands constantly. One such strategy is using innovative technologies like bank transaction analysis to improve customer […]
Over the last decade, artificial intelligence (AI) has made a noteworthy impression across different industries, and finance is no exception. Banks and other financial institutions are increasingly favouring the inclusion of AI across various functions, including balance sheet analysis for credit appraisal and bank statement analysis. This trend will gain further momentum as banks continue […]
Today, a growing number of businesses, including a mix of e-commerce platforms, retail companies, and electronic businesses, accept payments in Bitcoin cash and other cryptocurrencies. This trend mirrors the growing number of interested consumers who are investing and transacting in cryptocurrency. According to a 2022 survey, over 75% of retailers have plans to accept either […]
