Discover a wealth of insightful materials meticulously crafted to provide you with a comprehensive understanding of the latest trends.
The pandemic has not only redefined public health concerns but also shuffled economies. Even when lockdowns wane, consumers struggle to regain a foothold on finances and cut back on discretionary spending. Consequently, newer lending trends in sync with time are bound to rise. Digital financial services, for instance, are in the spotlight due to the […]
Bank statement analysis involves parsing the bank statements to derive insightful conclusions about the borrower’s creditworthiness. But the task of processing these statements is not easy. Lenders are bogged down with processing bank statements that are often either in physical papers or PDF formats, which require further processing. Physical paper bank statements are required to […]
The lending business is the backbone of most of the projects in the economy. From lending to acquaintances in distress to now a full-blown industry, this practice has witnessed a significant evolution. Despite being a lucrative practice, this industry does not fail to witness multiple scams and deliberate defaults. Such defaults only make lenders wary. […]
Bank Statement Analysis plays a crucial role in loan sanctioning. It is one of the practical ways to study the financial behaviour of the loan applicant. It gives a comprehensive picture of the customer’s economic history consisting of available balance, deposits, withdrawals, interest, service charges, penalties, overdrafts, and so on needed to vet the creditworthiness […]
Banks have a plethora of data waiting to be organised. We might think since the banks have so much data, they are ready to use Business Intelligence to make the best of it, but it is just the tip of the iceberg. The problem with the available data is that there is only a large […]
Precisa’s automated bank statement analyser can quickly parse through data, extract vital information, analyse transactions, and aid decision-making. Through its AI-powered engine, Precisa aims to accelerate bank statement analysis with intelligent document processing and data extraction capabilities. In conjunction with a load of powerful features that scrutinise transactions and present actionable insights to lenders, Precisa […]
Lending is a risky affair. It always poses the threat that what if the lent money or the item(s) are not returned. It sure requires a lot of trust on the part of the lender but trusting an unknown individual or business entity can misfire and lead to grave troubles. In financial lending, banks and […]
After the second wave of coronavirus, economic growth has stalled all over the nation. As the markets are opening up once more, there are hopes for a fresh start, but everyone is even more cautious this time, especially in the lending sector. In such a case, how can formal credit markets extend credit to borrowers […]
Precisa is an automated bank statement analysis platform that provides real-time bank statement analytical capabilities and reduces the need for manual intervention. Along with a host of beneficial features to make the evaluation process easy, Precisa has now integrated Scanned Document Parsing. With this new feature, lending institutions can conveniently upload bank statements in a […]
Bank transactions can reveal a customer’s preferences, spending patterns, and risk factors if you can create structured features from their unstructured text. Precisa automatically detects the context or purpose of transactions in the bank statement based on its description. For example, if the transaction is ECS/BAJAJ FINANCE LI/7UPBFR809765435 Precisa will automatically detect that this payment […]
