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 […]
Artificial Intelligence and Machine Learning are becoming the forefront of financial services across domains. One of the reasons behind this is an increase in lending efficiency and another being reduced manual error. However, implementing this technology can be challenging for many SMEs. In lending institutions, legacy systems and manual effort have been the norm. Breaking […]
Plastic money or credit cards is not something new. It has been a popular way of purchasing goods and services for decades now for end consumers. However, credit cards have faced stiff competition from alternatives over the past few years. BNPL cards or Buy Now-Pay Later tops that list. BNPL lets you buy what you […]
India’s financial services are on the verge of exploding, and the digital lending market cap is predicted to be worth $1 trillion in the next five years. However, fraud remains a significant issue in India. Across public and private sector banks, international banks, small financing banks, local banks, and other financial institutions, loan fraud has […]
The rising number of non-performing assets (NPAs) and fraudulent activities necessitates a closer examination of credit sanctions. According to the Reserve Bank of India’s Financial Stability Report (FSR), the gross non-performing assets (GNPAs) percentage of banks could climb to 9.8% by March 2022, up from 7.48% in March 2021, under a baseline scenario. As of […]
Everyone born after the 1997s is now referred to as Generation Z, and most marketers consider them a tough crowd to sell. However, in many ways, Gen Z and Millenials buy products and follow buying patterns differently when compared to baby boomers, aka the older generations. Economic trends, the job market, and the rise in […]
