FinBox BankConnect is a SaaS platform designed to automate the collection, analysis, and enrichment of bank statement data for financial institutions, lenders, and fintechs. The platform supports multi-modal statement collection, including Account Aggregator, net banking, e-PDF, and scanned documents, ensuring high conversion rates and minimal customer drop-offs. BankConnect uses advanced AI and analytics to process statements, detect fraud, and generate comprehensive financial profiles, including income, expenses, and affordability metrics. The system integrates seamlessly via SDKs and APIs, providing real-time dashboards and supporting rapid onboarding and underwriting. Its four-layer fraud detection system and adaptive transaction analysis enable lenders to make accurate, data-driven credit decisions while reducing manual review and operational costs.

Key Features

Multi-Modal Statement Collection Supports various methods for acquiring bank statements.

• Account Aggregator, net banking, e-PDF, scanned documents
• Smart AA switching for optimal aggregator performance

AI-Driven Data Enrichment & Analysis Automates extraction and categorization of financial data.

• Income, expenses, EMI, discretionary spending profiling
• Real-time transaction analysis and customer persona creation

Four-Layer Fraud Detection System Ensures document authenticity and reduces fraud.

• Document tampering checks
• Identity verification and anomaly detection

Real-Time Dashboards & Reporting Provides instant insights for credit managers and operations.

• Up-to-the-minute analytics
• Visualizations of conversion rates, fraud, and financial metrics

Seamless Integration Easy to embed in existing workflows and applications.

• SDKs and REST APIs for mobile and desktop
• Sample projects and Postman collections for rapid development

Adaptive Template Engine Keeps pace with evolving bank statement formats.

• Adds 50+ new templates daily
• Ensures accurate analysis across diverse documents

Benefits

Faster, More Accurate Underwriting Automates manual review and improves decision quality.

• 3x faster loan processing
• 98% accuracy in fraud detection

Higher Conversion Rates & Lower Drop-Offs Optimizes customer journey and statement collection.

• 80% success rate with Account Aggregator
• 50% reduction in customer dropouts

Reduced Operational Costs Minimizes manual effort and errors.

• 30% lower processing costs per case
• Scalable for high-volume digital lending

Enhanced Fraud Prevention Robust checks reduce risk and protect lenders.

• 45% reduction in fraud post-AA implementation
• Comprehensive document and identity verification