After the second wave of coronavirus, economic growth has stalled all over the nation. As the markets are opening up once more, there are hopes for a fresh start, but everyone is even more cautious this time, especially in the lending sector. In such a case, how can formal credit markets extend credit to borrowers […]
Precisa is an automated bank statement analysis platform that provides real-time bank statement analytical capabilities and reduces the need for manual intervention. Along with a host of beneficial features to make the evaluation process easy, Precisa has now integrated Scanned Document Parsing. With this new feature, lending institutions can conveniently upload bank statements in a […]
Bank transactions can reveal a customer’s preferences, spending patterns, and risk factors if you can create structured features from their unstructured text. Precisa automatically detects the context or purpose of transactions in the bank statement based on its description. For example, if the transaction is ECS/BAJAJ FINANCE LI/7UPBFR809765435 Precisa will automatically detect that this payment […]
For banks and Non-Banking Financial Companies (NBFCs), lending is one of the key business areas. Lending is perhaps their primary source of revenue and also the most profitable. In recent years, the lending process has also become a lot easier, resulting in a surge in the number of borrowers from all sectors and divisions. With […]
Circular transactions are a type of fake transactions between companies that are part of a single group or under single ownership control. This practice has been proclaimed as a scam and a punishable crime by financial regulators in most countries, including India. Picture a scenario where Company A sells goods to Company B. Company B […]
A bank statement is the most basic and critical document that aids in assessing a loan applicant’s creditworthiness. Every SME or lending institution relies on bank statements to provide valuable insight into the borrower’s income and spending patterns. The Bank Statement Analyser or BSA is an automated engine that examines bank statements by combining effective […]
