Automated banking transaction analysis
Aggregation of bank statements from different banks over different periods
10 indicators and detailed charts to make a quick and safe investment decision
Bank X-Ray is a decision-support solution that aggregates and analyses banking transactions to monitor cash activity, detect signs of economic distress and unearth suspicious behaviour.
How does Bank X-Ray work?
To generate a Bank X-ray report, October Connect users need to send information about their clients’ banking transactions on the platform. This can be done by uploading their bank statements (in True PDF format). Learn more
We then use optical character recognition to analyse the content of the bank statements and classify transactions per type and date. That is the first step that enables us to reconstitute the cash of a company, assess its management and spot irregularities or economic issues.
All this information is gathered in one visual Bank X-Ray report about your client’s financial health and behaviour with relevant decision support indicators. Let’s deep dive into the report.
Overview of the Bank X-Ray report
On each Bank X-Ray report, you will find:
The Bank X-Ray Score based on the aggregation of the score assigned to every data points analysed (debt stress, overdraft, payment behaviour…) by Bank X-Ray. The overall score is then translated to an alphanumeric system going from A to E.
The Analysis Details section, which shows the number of bank accounts analysed, the period taken into account and the extraction status for each bank statement.
The Balance section, which gives an overview of the banking movements over a pre-set period with its trend evolution.
The top Counterparties of the company in amount and number of transactions.
A series of charts to deep dive into your customer’s Payment Behaviour regarding salaries, social security, taxes and financial providers.
An Alerts section to highlight transactions containing pre-set keywords.
A Transactions tab with all the transactions extracted from the bank statements, sorted chronologically and the possibility to filter by category, name or amount.
How can you use Bank X-Ray?
You can use Bank X-Ray for three different purposes:
Risk analysis: complete your assessment with a real-time view of the company cash management and detect automatically signs of economical distress within the company.
Fraud detection: leverage the information contained in banking transactions to unveil inconsistencies that could reveal misbehaviours or fraud attempts.
Portfolio monitoring: follow the evolution of your existing clients over time by updating their Bank X-Ray report on a regular basis.