Do you know how Bank Statements help Lenders?
We all know that Lenders use Bank Statements to analyze their average monthly balance, any Cheque/EMI bounces etc.
But Bank statement analysis also enables detailed categorization of borrowers’ income and expenses, providing insights into their persona.
This information empowers financial institutions to personalize credit product offerings.
For instance, the institution can offer a travel/forex card if a borrower has significant travel expenses.
#bankstatementanalysis #categorization #income #expenses #customerpersona #manispeaksmoney