Bank Statement Analysis API
Bank statement data at your fingertips
Get in-depth financial insights by extracting and analyzing over 500 data points from bank statements including income sources, expenditure patterns, EMI obligations, investments, and more.
Get the story behind the bank statement
With Signzy’s bank statement analyzer, you can process and extract valuable insights from bank statements, enhancing creditworthiness and financial health assessments.
Extensive Data Extraction
Gain access to over 1,000 data points, including salary credits, recurring expenses, loan EMIs, investments, and more, providing a holistic financial picture.
Transaction Segmentation
Our platform segments outflow and inflow transactions into categories such as rent, food, loans, etc., providing you with valuable insights into spending patterns.
Multi-Account Analysis
Seamlessly consolidate and analyze data from multiple bank accounts, ensuring a complete financial overview, even when accounts have been changed.
BSA Scorecard PDF
We provide a detailed BSA Scorecard in PDF format, offering you a quick overview and analysis of the data.
Fraud Detection
Identify potential fraudulent activities with our advanced fraud indicators, including amount infusion, balance sheet manipulation, and metadata analysis.
Holistic Portfolio View
Integrate data from mutual funds, fixed deposits, equities, and recurring deposits, enabling a comprehensive assessment of an individual's or business's financial standing.
Customizable Rules Engine
Tailor our analysis to your unique underwriting criteria, incorporating your unique risk assessment models and policies.
UPI Transaction Analysis
We provide comprehensive analysis of UPI transactions, enabling you to gain deeper insights into customer transaction behavior.
Email Statement Fetching
Our platform allows for easy retrieval of bank statements via email, streamlining the process for you and your customers.
Low Cost
Our solution is competitively priced, offering you substantial cost savings without compromising on quality.
What can you use Signzy's Bank Statement API for?
Loan Sanctioning
- Assess creditworthiness and risk profile of loan applicants based on bank statement analysis.
- Evaluate income stability, debt levels, and spending behavior to determine loan eligibility.
- Automate loan underwriting processes and reduce manual intervention through API integration.
Investor Onboarding
- Analyze investor's financial profile and risk appetite.
- Assess investment suitability and recommend personalized investment strategies.
- Streamline onboarding processes by automating KYC and compliance checks with API integration.
Financial & Analysis Reports
- Generate detailed reports summarizing fraud, investment, income, obligation, and spending analysis.
- Provide insights and recommendations for improving financial health and decision-making.
- Customize reports based on client preferences and reporting requirements.
- Enhance transparency and communication with clients through clear and actionable insights.
Vendor Assessment
- Assess the financial stability of vendors by analyzing cash flow and transaction patterns.
- Identify unusual transaction patterns or irregularities to mitigate potential risks.
- Use financial insights to negotiate payment terms based on the vendor's financial health.
Credit Risk Underwriting
- Evaluate consistent inflows and outflows to determine a borrower’s creditworthiness.
- Identify instances of bounced payments or overdrafts that indicate financial strain.
- Use historical transaction patterns to predict the likelihood of default.
Pick the best for your business
| Functionalities | Others |  |
Auto switch between Account aggregator &manual uploadtary of State |  | |
Average response time is less than 3s | | |
360 Degree Financial Analysis of Individual & Business |  | |
Multi Bank Statement consolidated Analysis | | |
Single API for Credit Card, Bank statement analysis | | |
Fetch statement through E-Mail | | |
BSA Scorecard PDF for quick overview and analysis | | |
Credit Underwriting made simple
With Signzy’s Bank Statement Analysis API, you have everything you need to make your underwriting process more comprehensive, holistic and customised.
I Income Analysis
Calculate total income, analyze stability, categorize sources, and assess debt-to-income ratio to understand financial health and predictability.
I Fraud Analysis
Identify and flag irregular patterns, suspicious transactions, and potential fraudulent activities using advanced machine learning algorithms for comprehensive fraud detection.
I Obligation Analysis
Identify and analyze recurring expenses, debt levels, and repayment behavior to evaluate financial obligations and potential opportunities for debt management.
I Spend Analysis
Categorize and analyze spending trends over time to identify patterns, optimize budgeting, and distinguish between discretionary and non-discretionary expenditures.
I Investment Analysis
Evaluate investment patterns, asset allocation, and risk tolerance based on transaction history to provide insights into investment behavior and strategy suitability.
Integrate once. Analyse endless statements.
Integrate the API during lunch hour, customize based on your needs, and go live within 2-4 weeks!
FAQ
What is Bank Statement Analysis API?
Bank Statement Analysis API is an online interface that helps you evaluate your customers' financial health, habits, and track record by analyzing what is bank statement data. An AI-based decision rule engine checks transaction status and multiple other details to help provide this data. This can then be combined with other data points to create a more defined and holistic perspective about the user to help underwriters in making more informed decisions.
Why do businesses need a Bank Statement Analysis API?
Businesses need Bank Statement Analysis API for:
- Underwriting: Bank statement analysis API aids in assessing borrower creditworthiness and income verification for loan risk management with ease.
- Loan Approvals: Intelligent data extraction from bank statements facilitates accurate loan eligibility determination and risk assessment.
- Income Tax Purposes: Analysis of bank statements assists in computing ITR filings and estimating annual tax payments.
- Preventing Financial Fraud: Intelligent OCR in bank statement processing helps detect fraudulent activities and validates account details.
How does a Bank Statement Analysis API work?
Once the user inputs the bank account number of the customer, the API uses a decision rule engine to evaluate all the available data from multiple sources. Finally, it concludes if the customer or user is qualified for the enterprise and provides you with the analysis.
How accurate is the data received from Signzy's Bank Statement Analysis API?
There is little to zero chances of any error in the data shared by Signzy's bank Statement Analysis API. We ensure that maximum quality evaluation is with the available data. An AI-based decision rule engine makes the process accurate and devoid of any human errors. Since we also track Transaction ID tracking, there is very high accuracy on transaction status.
What formats are accepted by the Bank Statement Analysis API?
Signzy Bank Statement Analysis API accepts bank statement PDFs of all banks recognised by the RBI and can also fetch bank statements directly from the customers bank through netbanking or Account Aggregator API.
What attributes of the customer can I verify using the Signzy Bank Statement Analysis API?
Signzy provides you with 1000+ data points so that you can evaluate the financial standing of your customer in a comprehensive and holistic way. Using only their bank statements, you can evaluate your customers' financial health, habits, and track record with reliability and ease. Using just the bank account number, it will help you decide if a customer is legitimate, financially secure, or unqualified for credit.