Automated bank statement analysers have become the engines that drive borrower assessment. A BSA allows you to flex your analytical muscles and put creditworthiness under scrutiny. But not all bank statement analysers are made equal. Here’s why Precisa is better than the others. 9 Features that make Precisa Outperform other BSAs Precisa bank statement analysis […]
A bank statement is a summary of a specific account holder’s inflows and outflows over a set time period. The bank’s transactional history is commonly regarded as reliable documentation for determining the financial health of any customer. As and when incurred, all sources of revenue, expenses, withdrawals, overdraft payments, credit card payments, and so on […]
Getting a bank loan approved is a time-consuming process that necessitates a thorough paperwork review. The verification process differs by the bank. Before sanctioning any loan, the bank considers four key factors: safety, liquidity, spread, and profitability. Banks will then examine previous funds flow statements from the bank statement over a period of time to […]
Every loan process or audit of financial transactions—no matter if it is an individual loan or a commercial loan—starts with a bank statement. For instance, a bank statement could disclose information crucial in approving or validating a loan. What’s more? There’s a lot. How useful is financial statement analysis for banks? Let’s check that. What […]
As an individual lender, a bank, non-bank financial company, or any other financial institution, you examine the prospective borrower’s bank statements to determine whether to lend them money. A bank statement is one of the most reliable sources for seeing all of your prospective borrower’s transactions and trends over time. However, during this situation, lenders […]
Versatile software and tools that enable editing and modification of official documents make it easy for anyone to counterfeit them. This makes it easy for fraudsters to manipulate sensitive documents like bank e-statements to obtain loans or other financial benefits. In the financial year 2021, the Reserve Bank of India (RBI) reported bank frauds amounting […]
Manually assessing data from the Bank Statement PDFs is a strenuous and time-consuming process. Automated Bank Statement Analysis tools on Precisa allow its users to extract the data and categorise them and facilitate more detailed segregation from the bank statements. Why Do We Need a Category View? Different public and private banks have various formats […]
Global loan defaults have increased at a faster rate than they were before the pandemic. Direct consumers and small businesses are still struggling to pay back loans, which is unlikely to improve very soon. While retail lending accounts for 22% of total bank lending and 3.7% of total NPAs, personal loans, home loans, and vehicle […]
As per expert estimates, at least 2.5 quintillion bytes (that’s an astonishing 2.5 followed by 18 zeros) of data are generated in the world over every, single, day! And a study in 2018 revealed that about 90% of that data had been created in the previous two years alone. It was also predicted that the […]
The 2020 pandemic sabotaged the customer relations and trust banks had built over the years. According to a new Accenture analysis, during the COVID-19 pandemic, replacing in-person branch contacts with impersonal digital transactions via online and mobile channels has accelerated the ongoing decline of consumer trust in banks. Hence, banks need to focus on winning […]
