Bank Statement Analyzer Tool- The road ahead The bank statement analysis goes deep into the bank's statements and draws data from a PDF statement to obtain meaningful information about a borrower's recurring transactions, loans and defaults (if any), income and its frequency, and repayment capacity. Flow-based lending takes into account the recent transactional behaviour of an individual or business to assess their payment potential. What better way to assess the behaviour of recent transactions than in a bank statement, which is all the credits and debits of a person or business.
Let us see how bank statement analysis can prove to be a viable option for all: 1. In the case of individual borrowers, the bank statement analyser tool helps in income verification, and spending analysis, namely based on their bank account gives a complete picture of their income and expenses. 2. For businesses, bank statement analysis gives cash flow from customers' payments and cash outflows based on payments to vendors. 3. The status of a customer's check-in terms of whether the check is cleared or bounced can be deducted from the bank statement analysis. 4. It is an easy and effective way to reconcile customer payments. 5. Bank statement analysis shows the incidence of non-payment and default or insufficient funds. This is important for evaluating the credibility of both individuals and businesses. It is an easy and effective way to reconcile customer payments. The content of a bank statement is neither consistent nor consistent with banks. They are non-standard concise and full of details and each bank has its own format of furnishing