Understand the economic situation of your customer
Assess their willingness to repay by studying their current payment behaviour
Check the consistency of the information provided by the company
Assess the evolution of the bank account balance
The Balance section gives visual insight into how the company handles its cash over a pre-set period and their trend evolution.
On the balance chart, you can see:
The cash-in and cash-out movements over the period of time of the bank statements,
The evolution of the balance over the same period.
By hovering over any time interval, you can have a look on all the movements in addition to the balance on that specific period.
On the table below the chart, you can find:
A credit and debit sections, presenting information about total and average amount for each kind of transactions and their number. Most importantly, we also extrapolate the annualised amount on the movement reports to compare the consistency with historic data.
A company health section, with information about the cash generated, the debt payments and the salaries paid over the period and their annualised amount.
A bank account stability section to check for intercompany transfers, the bank account balance above which the company found itself on 90% of days and ratios to see at what pace the company burns its income and balance.
This information is very useful to understand if the total amount of credit and debit transactions are aligned with the company’s historical activity levels, spot trends and seasonality in the business activity or identify cash injections for examples.
For an optimal use of Bank X-Ray, we recommend you to upload at least 6 months of banking transactions on the platform to identify a trend or a seasonality in your customer’s business.
Analyse counterparties transactions
On the Counterparties section, you can have access to the company’s:
Top counterparties for credit and debit transactions ranked by amount, in both absolute and relative terms
Regular counterparties based on frequency and recency
2way counterparties, which have both credit and debit transactions with the entity. Intercompany transfers falls within that category.
This is an important tool to assess the client and supplier concentration of your customer, study their payment behaviour regarding utilities, rent or provider bills and check the veracity of the information provided by your customer. Knowing how the company interacts with its counterparties will help you spot inconsistencies more quickly.
Understand your customer’s payment behaviour
On the Bank X-Ray report, you can find a series of bar charts to deep dive into your customer’s payment behaviour regarding salaries, social security, taxes and financial providers.
Besides the charts, you will find complementary information about the monthly averages paid and the maximum deviation in number of days compared to the normal payment frequency.
Delays in the payment of salaries, a lack of tax or social security payments (moratorium) or recent significant increase in the level of debts could indicate a potential economic distress for example.
Recurring delays to repay financing instalment could also unveil the company’s lack of willingness to pay future financings.
Finally, the information provided on these charts can also help you identify fraud attempts: does the financing instalments amount make sense with the indebtedness level shared by the company? Does the salary and social security payments match the total payroll tax and headcounts?
Get alerts based on keywords
The Alerts section highlights transactions containing specific keywords about late payment fees, legal procedures, cash withdrawals, intercompany transfers among other categories.
This tool has been developed with the help of October Credit team that have put together a comprehensive list of keywords in French, Spanish, Italian, Dutch and German for word extraction purpose. If you want to add new keywords to the list, reach out to your Account Manager.
Thanks to this feature, you can know what to analyse further and take informed decision about your customer.
Deep dive into the transactions
At the bottom of the Bank X-Ray report, you can find the Transactions tab. It includes all the transactions extracted from the bank statements, sorted chronologically, with the bank account details, daily balances and movements (credit or debit).
This section can be used for example when wanting to know more about a transaction, a counterparty, or specific movements before, during or after a specific time period.
To help you find the transactions you want to analyse, you can you use our filters and look for transactions based on type, category, name or amount.
If you want to classify a specific transaction or change the category applied on an another, select the transaction, apply the category and click on the button to trigger a new Bank X-Ray report with that new information. Our tool learns every time you recategorise a transaction to improve the automated transaction classification.