Artificial intelligence is redefining how industries operate at the surface level. The wave of digitisation has pushed businesses to provide their tech-savvy customers with cutting-edge services. The banking sector is adapting to the changing dynamics. The global AI in the banking industry was recorded at $3.88 billion in 2020 and is expected to reach $64.03 […]
Every business has a unique story. While digital marketing and ad campaigns push a company’s brand narrative, a business’s bank statements tell the real story. Reading a bank statement, however, can be a labour-intensive, and overwhelming experience. Also, it can be easy to miss out on important details. This is where financial statement analysis software […]
With our easy-to-use web application, we at Precisa aim to simplify the bank statement analysis (BSA) process by allowing you to upload bank statements and present actionable insights in a visually appealing, intelligent dashboard. Precisa’s BSA is an all-in-one AI-powered analytics platform designed to catch any irregularities in bank statements in real-time. It evaluates the […]
Lending is a tricky affair. It is always essential for lenders to be very careful about whom they are lending the money. There are a lot of risks associated with lending, and one of the most significant risks is that the borrower may not be able to repay the loan. That’s where bank statements come […]
Bank statement analysis includes a review, breakdown, and analysis. This scan is done by commercial and retail banking, investment companies, financial institutions, and accounting and auditing companies. A bank statement analysis shows the records of all the transactions undertaken by the applicant, such as deposits, withdrawals, cash transfers, interest earned, debit card payments, bank service […]
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 […]
