Bank Statement Analyzer

Overview

Use the Bank Statement Analyzer to automate bank statement analysis of your customers. This merit extracts the list of bank transactions and customer’s accounts and identity information in real-time, and generates an exhaustive list of predictors to automate your underwriting process.

Availability

We currently support the most popular and top banks and financial institutions across Latin America in Mexico, Brazil, Colombia & Peru.

• Check our list of supported institutions for more information.
• This can be integrated through our mobile & web SDKs and through our direct link.

Features

• Fraud Detection

  Prevent fraudulent documents from being submitted through multiple checks including: document alterations, file type, and file size

• Real-Time Response

  With our state of the art technology, the time to extract information from multiple bank statement is less than a minute.

• Financial Profiling

  Our advanced categorization and insights service allows lenders to verify income and derive key attributes such as average balance, previous loans for underwriting and spending habits

• Accept Latest Data

  The settings allows merchant to set the minimum required number of bank transactions from end-users, to always receiving latest required transactions

User Flow

User have two ways to submit bank account statements:

• Provide their bank login credentials
• Upload bank statements

The following GIF shows a user flow using bank statement uploads using Metamap's prebuilt UX:

Key metrics

• Response in <10s
• Opt-in rate >95%
• Largest financial institution coverage in LATAM

How it works

As a first step, users are provided with a variety of methods where they can share access to their financial data. They are provided with explanations relating to how their data will be accessed and used. With their consent, this data is then parsed, extracted and enriched and returned in a variety of formats.

Setup

There are 3 main steps to set up the Bank Statement merit:

1. Setup your metamap on the dashboard
2. Use our quick start integration steps
3. Review the verification results

Step 1: Setup a Metamap

The first step to setting up a Bank Statement merit is to create a new metamap in the Dashboard. Once you've created a new metamap, add the Bank Account product to the user flow, and enable the countries that you want to support.

Step 2: Integrate

Currently you can use Metamap's Bank Statement in two ways:

1. Metamap Button — Integrate our MetaMap Button SDK into your application to use our prebuilt UX
2. Direct Link — Receive a URL link that you can send to your users

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Integrate our MetaMap Button via SDK

Use our SDK integration if you want to use Metamap's verification tools but design your own experience for your users.

To implement this:

1. Setup the metamap for Bank Statement in the dashboard
2. Install and implement an SDK framework

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Integrate via Direct Link

If you are not a developer, or you don't have the resources to integrate at this time, you can start using the product in minutes without any code with our Direct Link.

To implement this:

1. Set up the metamap for Bank Account Data in the dashboard
2. Get the Direct Link
3. Send the Direct Link to your users

Step 3: Process verification results

There are two main ways to visualize and use the data

• Dashboard Verification Results
  In the dashboard, visit the Verifications tab, and click on a Verification to review the results.

• Webhook Verification Results
  You will need to configure your webhooks, then handle the webhook responses that will be sent to your webhook URL.
  The following webhook ID corresponds to the Bank Statement Analyzer merit:
  financial-information-validation

Available Data Types

Supported Institutions

Data input availability is indicated with a green dot().

The yellow dot () indicates availability in Q4'2022