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 […]
India’s retail credit market has always represented a vastly underserved and exciting opportunity in financial services. Entrepreneurship, risk capital, and supportive infrastructure have contributed to the current uptick in innovation in this field. Technology has been instrumental in closing some credit gaps by reducing distribution costs, enhancing risk management, and enabling more customer-friendly products. However, […]
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 […]
Funding is always an integral part of the growth of a business. With the rise of eCommerce, the requirement for finance has given rise to digital lending. WhatsApp has tied up with banks like ICICI Bank, Kotak Mahindra Bank, and HDFC Bank to provide lending services to its largest and the fastest-growing market in the […]
Small businesses and budding entrepreneurs often lack past financial statements to prove their creditworthiness to banks. This gap opens up doors for a more efficient system to take its place. And digitising lending became the answer. Since time immemorial, lending has been an integral part of our society. Evidence of money lending and credit systems […]
Peer-to-peer (P2P) lending is a financial innovation that emerged over time — To improve the current state of financial inclusion and to act as a substitute for bank loans and traditional financing options. Becoming a highly essential alternative lending platform, it is projected to grow at a CAGR of more than 20%, touching $10.5 billion […]
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 […]
Banking channels were the sole institutionalised means of driving financial inclusion in a country like India for a long time. While urban India can boast of a high level of financial inclusion and access to numerous options, the same cannot be said for rural India. A major portion of the unbanked population lives in rural […]
