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Bank Statement Analysis: Is it the best tool to determine loan sanctioning?

Bank statement is a statement that is received from the bank after each month for the transaction one performs. Bank statement usually list down the available balance, deposits, withdrawals, interest, service charges, penalties, and others. Banking history of any month or any time period can be accessed by the customer. Banking history can either be received from the bank or through the online portal. Accessing the banking history allows a customer to look where the money has been invested or withdrawn or deposited and on what date. Currently, getting a loan sanctioned from the bank is a tedious task requiring a stringent document verification process. Verification process varies from bank to bank. The process starts with the application, which can either be filled online or by visiting any nearest branch. All necessary documents such as address proof, identity proof, income proof (bank statement or payslips received from the organization), and others must be attached alo...

Financial Statement Analysis: The Scoreme Advantage

Financial institutions like banks often need to examine the condition of a particular company for enabling financial transactions. In order to do so analysts have to go through statistical information with respect to industry parameters for ascertaining the position of the company. ScoreMe is the ideal tool prepared for aiding the task of analyzing business entities with respect to financial as well as non financial parameters.  Our Strength The aiding attributes of ScoreMe 1. Analyzing bank statements: The ScoreMe software comes with an inbuilt digital analyzer responsible for categorical formation of results based on bank statements. We ensure that all information related to credit, debit, and loan and check transactions are analyzed for generating the financial report of a particular company. The trends of transactions are also simultaneously analyzed for ensuring succinct examination of financial transactions. 2. Online acquisition and assimilation of informat...