What is a Bank Statement Analyser?

Before lending, any financial institution assesses customers’ credit reliability to ensure that loans would be repaid and on time!  

Bank Statement analysis is one of the crucial steps of the lending activity as it is an essential information component of credit assessment. An enriched report of prospective borrowers’ financial statements is the key to the right decision-making as this presents a comprehensive report with key insights and trends observed in the applicants’ financials.

Most organisations face common pain points when it comes to analysing bank account statements. Some common lending challenges banks and NBFCs face include Manual inspection, Data entry errors, Time-consuming, and Poor customer experience.

This is where Arya APIs’ Bank Statement Analyser (BSA) API comes to your rescue!

Arya’s Bank Statement Analyser seamlessly automates the categorising and analysing of bank statements from multiple bank accounts to provide a complete overview of borrowers’ financial records. The API helps you automate financial decisions by increasing productivity and providing high data accuracy. It also showcases import trends, rule violations, rare anomalies, and detecting fraudulent entries.

Explore more about the various applications of the Bank Statement Analyser API in our blog ‘Top use cases of Bank Statement Analyser API

To find out more about the advantages of using the API and why Arya’s BSA API is the right choice for you, read our blog ‘Scale lending processes with bank statement analyser

Our API endpoint is ready for integration on our platform- Arya APIs. To know more about the API and try it yourself for free on our platform today!

Prathiksha Shetty

Prathiksha Shetty

Marketing Manager- Arya APIs