Reading Time: 5 minutes Bank statement analysis is an essential tool for credit management. It allows you to track your income, expenses, and spending habits over a set period. Bank statement helps to identify top transactions, recurring transactions, month-wise transactions, returns transactions, EOD balances, running EMIs and categorization of transactions for easy underwriting & straight-through processing. By analyzing your… Continue reading Why is bank statement analysis important in credit management?

Reading Time: 5 minutes Today’s consumers are educated and intelligent; customer loyalty has decreased widely in banks. They approach indefinite lenders offering the best interest rate and loan amount. Hence, a person’s bank account could be a one in a different bank from which he has applied for the loan. Banks need to assess their bank statements before considering… Continue reading Automated bank statement analysis with Cygnet Fintech

Reading Time: 3 minutes Technology has become the backbone of businesses across industries and we are living in an era where innovations empower technologies at the speed of light. Tech innovations have been transforming sectors and adding value in terms of bringing sustainable growth. About a decade ago, the BFSI (Banking, Financial Services, and Insurance) industry was dependent on… Continue reading Emerging technologies transforming the Fintech industry

Reading Time: 4 minutes The advent of Goods and Services Tax (GST) in 2017 brought along several concerns with regards to transitioning to the new tax regime. Till date, the success of this indirect tax reform is highly debated but it has undoubtedly ushered us towards the digital era of automation and analytics by paving way towards generation of… Continue reading Leveraging GST data for credit underwriting

Reading Time: 4 minutes Generally, the due diligence performed by banks or other lenders before giving a loan is based on traditional parameters such as the company’s past performance, financial statements, cash flows, managing authorities and related aspects. The introduction of GST in July 2017 has led to emergence of other data source that indicates a company’s compliance health… Continue reading Invoice verification in lending process

Reading Time: 5 minutes It used to be a common practice some years ago for companies to develop inhouse software in the absence of readily available packaged software and applications. But recently after the introduction of ready-to-use solutions, cloud computing, machine learning and artificial intelligence, businesses around the world took a digital turn. In recent times, with the easy… Continue reading Future of Fintech: Digital journeys – Build v/s Buy

Reading Time: 5 minutes Credit Managers and risk analysts at banks and other financial institutions often face the challenge of finding and evaluating the creditworthiness of a particular entity. Digitization has already impacted many key functions of businesses and is notably contributing to the field of credit decisions and evaluation. The Need for Considering Multiple Data Sources In the… Continue reading Data based credit decisions