Indian banks have written off a whopping $9.9 trillion worth of loans in the last five years, out of which they could recover about $1.84 trillion. It is also worth noting that around 2,623 wilful defaulters owe around $1.96 trillion to banks in India. These figures reinforce the need for tighter scrutiny of the borrower’s […]
Financial statements offer insights into the health of an individual or a business. Lenders can extract valuable information from bank financial statement PDFs to aid them in their lending decisions. Automation has replaced manual analysis of financial statements for many lending businesses, helping reduce the time and effort required to extract, organise, and interpret data […]
Bank statement analysis API solutions have become essential for modern lenders who process numerous PDF documents from loan applicants daily. These advanced systems enable financial institutions to quickly extract and analyse data from bank statements, identity documents, invoices, and GST returns whilst assessing cash flow and creditworthiness with unprecedented accuracy. However, a growing challenge for […]
Due to several factors, lenders are now more likely than ever to make poor risk assessment decisions. These include the speed at which lenders aim to approve loan applications, the growing potential for loan fraud, and increasing delinquent debt. Also, unexpected market downturns and opportunity costs contribute to the risk factors. Moreover, as lenders scale, […]
