Bank Statement Analysis API
Signzy’s Bank Statement Analysis API helps you evaluate your customers’ financial health, habits, transaction details, and track record with reliability and ease. This will help you determine the legitimacy of the customer while preventing any risky activities, as the transaction history will help you create an accurate image of the customer.
Using online Bank Statement Analysis API systems for companies and entities is beneficial to determine the credibility and associated risk since we utilize the transaction history and other transaction details.
Use Cases of the API
USPs of the API
Swift Processing with Reduced TAT
Easy to Use
Signzy’s Bank Statement Analysis API is optimized for the best user experience
With exceptional precision, our API will detect fraudsters who try to use fraudulent bank accounts or credentials
Our system verifies all the information provided with the concerned bank, establishing the associated account’s validity
The data is retrieved and verified within seconds, saving you time and effort
How to Verify?
Analyzing Bank Statement Details has never been easier. Following are the steps:
- Once you receive the link to the inquiry form, access it and fill in your details.
- After this, the Bank Statement Analysis API is to be integrated.
- Enter the Bank Account Number in the dialogue box.
- The API provides the details regarding the financial health and activities of the bank account. It helps you understand the financial track record of the customer.
What is the Bank Statement Analysis API?
It is an online interface that helps you evaluate your customers’ financial health, habits, and track record. An AI-based decision rule engine checks transaction status and other transaction details to help do this. Data can be combined with other data points to create a more defined perspective about the user.
How does Bank Statement Analysis API help me?
You can verify if a customer is legitimate, financially secure, or unqualified. With our Bank Statement Analysis API, you can check if the customer’s transaction history and transaction details indicate safe behavior while confirming their bank account details and financial behavior are healthy. This lets you filter out unwanted elements which would have required human intervention.
How Does Bank Statement Analysis API work?
Once the user inputs the bank account number, the API uses a decision rule engine to evaluate all the available data. Finally, it concludes if the customer or user is qualified for the enterprise and provides you with the result.
How accurate is the verification process?
There are minimal to zero chances of any error in the verification. The maximum quality evaluation is made with the available data. An AI-based decision rule engine makes the process accurate and devoid of human errors. Transaction ID tracking is also possible, which improves accuracy.
Can you use the Bank Statement Analysis API for underwriting?
Yes. The Bank Statement Analysis API can be used for underwriting as it gives a clear idea about the user’s financial behavior and credit worthiness.
Can you use the Bank Statement Analysis API as an alternative to the Credit Bureau API?
If you require an idea about the financial behavior of the user, Bank Statement Analysis API can be used for this. However, for detailed credit bureau access, there might be limitations.
Which attributes can we verify using this API?
Using only their bank statements, you can evaluate your customers’ financial health, habits, and track record with reliability and ease. This is obtained using the bank account number. It will help you decide if a customer is legitimate, financially secure, or unqualified.