A bank statement is the most basic and critical document that aids in assessing a loan applicant’s creditworthiness. Every SME or lending institution relies on bank statements to provide valuable insight into the borrower’s income and spending patterns. The Bank Statement Analyser or BSA is an automated engine that examines bank statements by combining effective […]
Bank Statement Analysis 101
For banks, NBFCs, and other similar financial institutions, lending is one of the primary sources of revenue and also one of the most profitable ones. With a rise in financial literacy in India, the number of borrowers has increased and consequently, so has the number of payment defaulters. This has forced lending institutions to deploy […]