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Due to increased defaults impelled by the pandemic, banks, NBFCs and FinTech’s are clamping down on regulations over credit approval and disbursement. Even as many individuals and businesses seek loans to restructure their finances or stabilize operations, asset quality is taking precedence over targets.  Bank statement analyzer  tools are used to generate reports on a company's or individual's earnings, expenditures, and, most importantly, spending habits. As a result, most financial firms determine a customer's creditworthiness by carefully scrutinizing bank statements. Let us now look into the nuts and bolts of  bank statement analysis software . BANKING STATEMENT ANALYZER: A BOON Let us try and understand the intricacies of a  bank statement analyzer . In real-time, the bank statement analysis software generates an all-inclusive report of bank statements. The following are a few points that will help you understand the advantages of using a bank statement analyze...

A  robust and well-structured credit mechanism is essential for ensuring a healthy and growing loan portfolio for   NBFCs and Banks . To provide effective risk management and a streamlined mechanism of operations with the highest level of efficiency — while maintaining system integrity -- comprehensive and   integrated analysis platform   is needed. Process digitalization and the deployment of an  integrated analysis solution  by banks and NBFCs via a comprehensive software are therefore crucial. Such software can provide a one-stop solution for the Lending Business of NBFCs and Banks duly supplemented by the active role of Fintechs. The software can take care of various aspects of the lending operations in an integrated manner while ensuring, efficacy, transparency and effective risk management. Integrated Lending Business Process and Analysis The entire process involves a series of steps that need to function in an integrated and seamless manner. The...