Bigbank improves bank statement analysis speed 100x with Nordigen.
Bigbank tested Nordigen categorisation engine in two areas:
to what extent Nordigen categorisation engine can decrease the time it takes to manually analyse a bank statement
to what extent Nordigen categorisation engine is more precise at identifying risk-critical transactions vs. credit specialists
Bigbank had the following results:
Nordigen was able to decrease the time it took to manually analyse a bank statement from 15 minutes to less than 10 seconds (a 100x improvement)
Number of risk-critical transactions identified falsely:
- credit risk specialists: 30%
- Nordigen categorisation engine: 2%
(a 15x improvement)
with thousands of bank statements analysed per months, the speed improvement allows Bigbank to potentially save hundreds of hours of manual work
the improvement in precision allows Bigbank to decrease defaults that occur due to missed risk-critical information
Bigbank AS was established in 1992 in Tartu, Estonia. It specialises in term deposits and consumer loans and now operates in Estonia, Latvia, Lithuania, Finland, Spain and Sweden, while providing cross-border services on the German, Austrian and Dutch markets. The company operates under the trademark Bigbank on all markets.
Want to test how Nordigen's account analytics solution can help your bank or lender improve credit decision-making speed and accuracy? Get in touch and our experts will get back to you!