How do Bank Statement Analyser Tool helps in analysis of bank statement?

November 15, 2019 Admin
Bank statement analysisBank StatementAnalyzing Bank Statements

Bank Statement, as we know, is an account of all our financial transactions over a month. It shows the available and existing balance, deposits made , withdrawals done, penalties due and much more. An analysis of this statement provides information about the financial story of an account holder. Now, the question is, why do we need to analyze a bank statement? Good banking records help in preparing accurate financial statements.

ScoreMe, a fintech software company, has developed a tool for analyzing bank statements. A team of experts from varied domains with a passion for providing resolute solutions, have designed this software. When a person or a firm applies for loan in any bank, then the latter examines the prospective applicant’s credit worthiness. In such case, bank statements analyser are a reliable prospect, which give information about the financial position of the borrower.

Few challenges which are met in this process are :

  • Variation in formats of statement from bank to bank.
  • Introspection of data becomes cumbersome considering the credit amount to be approved and varying periods like 3 months, 6 months etc.
  • Different people submit statements in different formats.
  • On the basis of variation in formats, time periods, layouts, etc, inspection becomes a tedious affair.

However, ScoreMe’s innovative software is a one stop solution to all these issues. The tool can be used for :

  • Initial screening of proposal
  • Generating independent opinion about credit worthiness
  • Verifying transactions of existing loan takers.

Apart from the above, the added advantages that this software are as follows :

  • It works on bank specific designed statements. Under this, the banks covered are all the public sector banks, private sector banks, Co-operative banks and major international banks.
  • This analyzer tool’s AI driven patterns unfurls the complex differential transactions and generates a single most accurate report.
  • The reports are comprehensive and insightful.
  • Lastly, the multitask dashboard facilitates obtaining information on all assigned parameters.

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