Introducing cost effective Bank Account Verification and Bank Statement Analyser API

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When it comes to risk assessment for a lending product, there is nothing better than gauging through the customer’s bank account statement to analyse income and expense history for decision making.

To onboard customers and facilitate transactions, we are revolutionising the process of bank account verification by replacing traditional manual verification with a digital and automated solution, thereby reducing verification timelines from few days to few seconds!
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1. Penny Less Bank Account Verification

Bank account verification via penny less method is an instant solution to verify and validate bank account without having to transfer money into user’s account. It helps to ensure authenticity of bank accounts before making any transactions effortlessly. Utilising this way of bank account verification enables you to validate user registration by confirming the account holder’s name and/or the bank account's status using either the account number or IFSC code.

Our solutions seamlessly integrates into workflows of banking and fintech organisations and unlock fraud detection, bulk account verification, accelerated onboarding with enhanced accuracy.

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Use Cases

1. Disbursements: Transfer funds to your sellers on a regular basis, cover your employees' expenses, or provide refunds to your buyers using various electronic payment methods such as IMPS, NEFT, RTGS, or UPI.
2. Auto Debit Setup: Gather repayments from your customers using mandates such as E-NACH or UPI auto-pay, ensuring transactions occur on scheduled days or intervals.
3. Revenue Collection: Secure funds from your customers by utilising UPI features like collect requests or issuing payment links via SMS/WhatsApp for occasional collections.

2. Bank Statement Analyser

The Bank Statement Analysis API seamlessly integrates with financial platforms, ensuring a user-friendly experience. It automates bank statement scrutiny for efficiency and precision, offering comprehensive insights into spending behaviours and income sources. Crucially, it aids in risk evaluation for lending decisions, thereby reducing credit default.

For new age fintech organisations, it also unlocks insights for its users to monitor spending, set budget goals, plan investments and make informed financial decisions.

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Use Cases

1. Credit Approval - Utilising transaction insights, Bank Statement Analysis API expedites the loan approval process by evaluating creditworthiness, thereby mitigating risks and improving customer satisfaction.
2. Financial Analysis - Produce detailed financial reports tailored for both individuals and businesses, optimizing budgeting and strategic planning through thorough transaction analysis.
3. Streamlined User Onboarding - Facilitate seamless user enrolment by ensuring precise verification of financial data, enhancing security measures, and crafting personalised experiences for customers.

At Tartan, we aim to solve for a secure financial journey for both lenders and users, with a reliable and quick solution including identity, income and transactional verification process at each step !