Why Choose Precisa: Analysis of 1000+ Bank Formats Across 21 Countries

Even with digital adoption, loan approvals in India still take considerable time. A major part of this delay comes from manual bank statement verification and financial assessment. Analysing one application traditionally takes 30 to 45 days. For a lending institution processing 100 applications monthly, that’s 3,000 to 4,500 days of cumulative work. 

As a result, teams get stuck in spreadsheets, spend hours checking transactions, validating income, and detecting irregularities, ultimately losing customers and profit margins.

Precisa’s cloud-based bank transaction and financial data analytics solution is built to address this challenge. It automates financial assessment for NBFCs, DSAs, chartered accountants, forensic auditors, government departments, and advisory firms. The AI-powered platform has processed over 2.3 crore transactions from more than 15 lakh bank statements, supporting 500+ banks and 1,000+ statement formats across 21 countries.

Where manual analysis takes up to 6 weeks, Precisa delivers a comprehensive evaluation in 25 to 30 minutes.

This blog explores how Precisa’s intuitive solutions help reduce processing time by five times and improve productivity by eight times.

The Challenge: Why International Bank Statement Analysis is Complex

Bank statement analysis appears simple on the surface. Extract transaction data, verify income, assess creditworthiness, and make a decision. Yet this simplicity conceals profound complexity that grows exponentially when statements cross borders or involve multiple accounts.

The Problem with Format Fragmentation

State Bank of India uses a three-column layout with running balances. HDFC Bank embeds transaction codes in descriptions. African banks present statements in French or Portuguese with different date formats. European institutions follow SEPA standards but with country-specific decimal separators. 

Across Precisa’s 1,000+ format library, column positions shift, header names change, and data structures vary fundamentally. Manual interpretation becomes translation work: extracting meaning from unfamiliar layouts, understanding region-specific codes, and matching patterns across incompatible structures.

Your team adapts to one bank’s format, then encounters another with entirely different rules. Scaling this manual mapping across thousands of formats is nearly impossible.As a result, misinterpretations multiply errors, and processing grinds to a halt whenever a new bank format appears.

Complexity with Multiple Currencies

A multinational firm may maintain accounts in ten different countries, each using its own currency. An NRI client might transfer funds in USD, EUR, and GBP. When handled manually, currency conversion can lead to calculation errors, especially since exchange rates fluctuate day-to-day.

Without a unified format, it becomes hard to determine a borrower’s actual monthly income, fixed obligations, or FOIR. When statements are reviewed separately, numbers may appear inconsistent and contradictory. It fails to give a complete picture of a subject’s financial health and intentions.

Issues with Intra-Account Transactions

Most borrowers rarely maintain single bank accounts. They spread funds strategically across multiple banks. Sophisticated fraudsters exploit this fragmentation. Money flows from Account A to Account B, then returns from Account B to Account A. The same rupee appears as income in multiple accounts, artificially inflating turnover while masking the true financial position.

Manual analysis of individual accounts misses this entire dimension. Underwriters see income appear twice, believe stronger cash flow, and approve loans based on false data. To detect these patterns investigators must analyse all accounts held by the same entity, compare inter-bank transfers, identify circular flows, and consolidate them accurately, simultaneously.

How Precisa Handles Global Bank Statement Analysis

Precisa solves these interconnected challenges through automation and artificial intelligence, designed specifically for complex international financial analysis. The platform converts raw statements into actionable insights in minutes, regardless of format, currency, or account complexity.

Unified Platform for 500+ Bank Formats Across 21 Countries

Precisa uses advanced pattern recognition to extract data from 1,000+ bank formats across 21 countries. When statements are uploaded—PDF, JPEG, or scanned documents in English, French, Portuguese, or Hindi—the tool identifies the bank, recognises the structure, and extracts information with pinpoint accuracy. Transaction dates use DD/MM/YYYY in India, MM/DD/YYYY in the US, YYYY-MM-DD in Europe. Currency symbols vary (₹, $, €, £), and decimal separators alternate between periods and commas. Precisa captures all elements correctly regardless of these differences.

Consider this real-world scenario – Tata International, one of our primary clients, operates across eight African countries simultaneously. Each country’s banks use different statement formats: French statements with FCFA currency, Portuguese with Kwanza, English with regional banking standards. Statement structures vary from single-page summaries to multi-page detailed formats. Precisa processes all these variations and delivers unified analysis in minutes.

Multi-Currency Processing and Multi-Account Consolidation

Real lending scenarios come with complexity that single-account, single-currency analysis cannot capture. Precisa addresses this through two complementary reporting modes.

Individual bank reports: They provide deep analysis of single accounts, where you get to see transaction patterns, cash flow dynamics, and account-specific metrics in isolation. This granular view is useful for understanding individual account behaviour.

Consolidated bank reports: They reveal the complete financial picture. When a customer maintains five accounts across three banks in two currencies, Precisa aggregates them intelligently. The dashboard offers reports and graphical representations of inter-banking activities, including circular transactions, bounced cheques, monthly averages, EMIs, UPIs, cash flow, and loan analysis.

Transparent multi-currency processing: Statements in INR, USD, EUR, and other currencies are converted using appropriate exchange rates. Consolidated metrics display in unified currency. Your team sees aggregated FOIR, consolidated cash flows, and a complete liability picture without manual currency conversion work.

Who Benefits: Key Use Cases

Precisa caters to diverse professionals across the financial advisory and lending ecosystem. 300+ organisations rely on this platform, including government departments, forensic auditors, NBFCs, DSAs, chartered accountants, and advisory firms.

Each constituency finds specific capabilities aligned with their responsibilities and workflows:

NBFCs and Banks: Accelerating Loan Approvals

NBFCs and banks face relentless pressure from customers as well as the RBI to process applications faster. Precisa helps upload statements in any format (PDF, JPEG, scanned) and receive a comprehensive analysis in the form of reports, graphs, and charts, instantly.

The proprietary Precisa Score provides objective creditworthiness indicators, while the Volatility Score analysis reveals account stability and income consistency. Fixed Obligations to Income Ratio calculations happen automatically, and irregularity detection flags suspicious patterns in real-time for manual investigation. This way, your underwriting team reviews pre-analysed data and reaches decisions rapidly.

DSAs: Faster Customer Onboarding and Higher Conversion

Direct Selling Agents operate at the frontline of customer acquisition. When a customer applies for a loan through your DSA, speed is the competitive advantage. Customers comparing lenders choose whoever delivers approval fastest. The slower your DSAs are, the lower the conversion rates.

Precisa empowers DSAs to provide application status updates within an hour instead of days. One of the standout features of the platform is its multi-user access with one main admin. It allows different DSAs to maintain separate client portfolios with unique user IDs and passwords, while the management monitors all activity centrally.

This speed has multiple ripple effects – customer experience improves, DSAs stand out through fast responses, conversion rates double, and productivity dramatically increases.

Chartered Accountants: Income Verification and Tax Compliance Acceleration

Chartered accountants manage income verification, ITR filing, audits, financial statements, and personal finance advisory – all dependent on detailed bank statement analysis. Precisa addresses this through end-to-end categorisation and counterparty analytics. The tool sorts transactions into 50+ categories such as salary, business revenue, rent, investments, loan repayments, UPI, EMI, and utilities.

Counterparty analysis identifies all transaction partners, such as suppliers, customers, and lenders, with monthly summaries showing payment trends and recurring obligations, like subscriptions and salaries.

For ITR preparation, this breakdown accelerates the income and deduction calculation process, separating business and personal transactions efficiently. Audit working papers are auto-prepared through smart categorisation and mapping.

Forensic Auditors: Detecting Hidden Financial Crimes

Since forensic auditors investigate financial irregularities, trace money trails, detect fraud, and provide expert testimony, their investigations must be thorough, defensible, and timely. Precisa’s AI-led forensic investigation analytics help detect circular transactions, suspicious timing, unusual amounts, and other red flags automatically.

Advanced money trail detection shows inter-bank transfers with visual mapping. UPI transaction analysis includes RRN detection, while counterparty identification reveals who receives money and in what amounts.

Real-World Impact of Precisa

A Bengaluru-based forensic audit firm, specialising in complex money trail investigations, faced delays of 30 to 45 days per case due to manual statement review and transfer tracking. With Precisa’s intuitive web interface and easy API integration, all statement formats were automatically converted for analysis, and interactive dashboards visualised complete transaction histories in real-time.

Advanced fraud detection flagged circular transactions and suspicious payment patterns, while smart AML money trail mapping and FIFO tracking revealed fund flow with precision. As a result, investigation time was reduced by 90%, risks were detected on-the-spot, and multi-account cross-referencing capabilities had a reduced TAT of 30 minutes.

Key Takeaway

While there’s no doubt that the global fintech ecosystem is flourishing, document-heavy lending processes continue to remain one of the major challenges faced by lending and financial analysis organisations today.

Why does Precisa work? It demonstrates that a better possibility exists for traditional financial analytics through a comprehensive solution suite supporting real-time bank statement analysis, GSTR analysis, forensic investigation, credit bureau report analysis, and account aggregator integration.

See how Precisa processes your international statements in 30 minutes. Book a demo.