Email: contactus@precisa.in
Phone number: +91 98450 76647
  • Solutions
    • DSA Service
    • Forensic Investigation
    • Bank Statement Analysis
    • GSTR Analysis
    • Credit Report Analysis
    • Account Aggregator Integration
    • Anti-Money Laundering (AML) Analysis
  • APIs
  • Clients
  • About
  • Blog
  • Pricing
  • Sign In
Try Now
Bank Statement Analysis

Precisa’s e-Statement and Bank Account Authenticator Can Spot Fraudsters

November 26, 2021 precisateam No comments yet
Precisa’s-e-Statement-Authenticator-can-See-Through-Hacksters

Versatile software and tools that enable editing and modification of official documents make it easy for anyone to counterfeit them. This makes it easy for fraudsters to manipulate sensitive documents like bank e-statements to obtain loans or other financial benefits.

In the financial year 2021, the Reserve Bank of India (RBI) reported bank frauds amounting to 1.38 trillion Indian rupees. This is an alarming stat. Banks, NBFCs, and other fintechs have reported multiple instances of unauthorised/illicit digital activities and tweaking of the banking data.

This is why banks and every other financial entity requires a robust security mechanism they can trust on. Precisa’s e-statement Authentication can simply see through these ill intents. It can detect a diversity of frauds related to bank statements or altered bank statements at advanced assessment levels.

For instance, Precisa’s tool is powerful enough to spot meticulous manipulations done using Adobe Acrobat Pro and other similar software!

How does Precisa’s eStatement Authentication Feature Work?

Precisa’s-e-Statement-Authenticator-can-See-Through-Hacksters-Body-Image

Precisa uses a series of formats and data checks on PDF bank statements to detect manipulation of the e-statements and identify any potential fraudulent activity.

The checks help to validate the uploaded bank statement by identifying any unexpected behaviour, discrepancy and computes an authenticity rating as FRAUD, ORIGINAL, REVIEW or UNKNOWN.

Precisa also uses a Penny Drop (depositing INR 1 or any small amount into a user’s bank account) to verify the authenticity of the bank account mentioned in the e-statement of the beneficiary.

Penny Drop

How does it benefit our customers?

The e-Statement authentication feature on Precisa helps our customers identify if a statement has been tampered with or altered.

Primarily, the bank statement is verified by the lender or lending institutions for its authenticity. But it is not enough.

Organisations must also verify the bank account details in multiple layers to check if they are valid.

Precia’s eStatement authentication improves the reputation of lending institutes and banks by helping them make accurate and informative lending decisions.

In a nutshell, the e-authentication feature of Precisa:

  • Identify whether the statement was tampered with or not.
  • Identify the authenticity of the bank account by checking whether the account is valid or not.
  • Helps them to make informed lending decisions.
  • Makes lending processes faster and more efficient.

Try these and other advanced features of Precisa. Sign in or take a free trial.

  • Automated Bank Statement Analysis
  • Bank Statement Analysis Tools
  • Credit Appraisal Software Tools

Post navigation

Previous
Next

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

Categories

  • Bank Statement Analysis (122)
  • Credit Appraisal (35)
  • Digital Lending (120)
  • Fintech (81)
  • NBFC Software (3)
  • Uncategorized (1)
  • Understanding Precisa (17)

Recent posts

  • The͏ C͏re͏dit Bur͏e͏͏a͏u͏ & Bank Stateme͏͏nt Co͏͏mbi͏nation
    Credit Bureau & Bank Stateme͏͏nt: Ho͏w the Duo Reduc͏es Lending ͏͏R͏isk
  • RBI's Decision to Exclude Fintech Loans
    Understanding RBI’s Decision to Exclude Fintech-Sourced Loans from Default Coverage
  • Extract Hidden Insights from Consumer Credit Bureau Reports
    Beyond CIBIL Scores: Pulling Hidden Insights from Consumer Credit Bureau Report

Tags

account aggreagtor AI in Fintech API To Get Bank Transactions Automated Bank Statement Analysis Bank Bank Accounts Bank Financial Statement Analysis Bank Statement Analysis Bank Statement Analysis API Bank Statement Analysis Tools bnpl Case Study cash flow analysis co-lending Credit Appraisal Credit Appraisal Software Tools credit bureau Data Quality and Integrity digital lending due Due Diligence early embedded finance Financial Data Analysis Tools financial inclusion Financial Industry financial security financial startups Financial Statement Analysis Software fintech fintech companies fintech startups Fraud Investigation GST GSTR gstr analyzer Lenders loan management system Loan Rates money laundering MSME nbfc open banking precisa rbi

Continue reading

Extract Hidden Insights from Consumer Credit Bureau Reports
Credit Appraisal

Beyond CIBIL Scores: Pulling Hidden Insights from Consumer Credit Bureau Report

June 23, 2025 precisateam No comments yet

Traditional credit scoring, led by CIBIL and other bureaus, has been the backbone of lending decisions for many decades. However, with the undeserved and new-to-credit segments’ increasing need (and demand) for loans and the microfinance delinquency rate moving up to 4.3% in 2024, lenders are realising that single scores only tell half the story about […]

Early warning signals in credit appraisal systems
Credit Appraisal

͏13 Bi͏ggest ͏Mist͏akes Lenders Mak͏e When Setting Up Early Warning Signals in Credit Appraisal Systems

May 16, 2025 precisateam No comments yet

In 2023, India’s gross non-performing assets (NPAs) stoo͏d at͏ o͏ver ₹6 lak͏h crore. Muc͏h ͏of͏ this is blamed ͏on late detection ͏of credit stress. Ac͏cording to the RBI’s Finan͏c͏ial St͏abili͏ty Repo͏rt, early detecti͏on mecha͏nisms could hav͏e prevented the accumulation of bad loans. Yet, many lenders s͏ti͏ll s͏truggl͏e with setting up robu͏st early warning signals in […]

Understanding-How-Bank-Statement-Analysers
Bank Statement Analysis

Understanding How Bank Statement Analysers Are Fast-tracking and Improving Loan Approvals

January 22, 2025 precisateam No comments yet

The total value of loans in India increased by 11.5% in December ’24 compared to the same period in the previous year. Additionally, the loan growth rate in India remained steady at around 11.8% between 2012 and 2024, highlighting the increasing demand for credit within the Indian economy. Despite these positive trends, around 30-35% of […]

Mumbai

403, Mayuresh Chambers, 4th Floor, Sector 11, CBD Belapur, Navi Mumbai, Maharashtra 400614

https://g.co/kgs/buJcESj
Pune

Rachana Park, 3rd Floor,Atreya Society,
Off. Senapati Bapat Marg,Wadarvadi, Pune,
Maharashtra – 411016

Links
  • Cancellation Policy
  • Terms Of Use
  • Privacy Policy
Subscribe to our newsletter

Sign up for our weekly newsletter to get the latest news, updates & amazing offers delivered directly in your inbox.




    © All Rights Reserved • Precisa • MADE WITH ❤️ & ⚡ IN INDIA.