Bank Statement Analysis Software for Lenders and Brokers
Underwriters and brokers spend hours reading applicant statements line by line to find deposits, recurring payments and overdrafts. StatementsConverter turns three to twelve months of statements into one balanced table, so the review starts from structured data instead of a stack of PDFs.
Reading statements is the slow part of the file
Small business loans, merchant cash advances, equipment finance, mortgages for self-employed borrowers and tenant screening all ask for the same thing: recent bank statements. The applicant sends a mix of downloaded PDFs, scans and phone photos, and an analyst has to read every month.
What the analyst needs from those pages is narrow and specific. Total deposits per month, the pattern of incoming payments, average and low balances, returned items, overdraft fees and recurring obligations such as loan payments.
StatementsConverter does the reading and leaves the judgment to you. It produces the table; your credit policy decides what the table means.
From applicant upload to review-ready table
- Create a workspace for the application and drop in every statement the applicant sent, from 3 to 12 months, PDF, scan or photo.
- Files are grouped by account and ordered by statement period, so gaps in the months are visible at once.
- Every transaction is extracted with date, description, debit, credit and running balance.
- The balance check confirms each month against its opening and closing balance and flags a page and row range that does not add up.
- Export to Excel or CSV for your spreadsheet model, or receive the rows through the API on Business.
What becomes visible in the table
- Deposits by month, sortable by amount and description, so a single large transfer stands apart from regular revenue.
- NSF, returned item and overdraft fee lines, kept exactly as the bank printed them.
- Recurring debits, such as other lenders' payments, payroll runs and rent.
- Running balance on every row, so low points within a month are easy to chart.
- Transfers between the applicant's own accounts, visible when several accounts are uploaded together.
A note on statement integrity
The balance check confirms that the rows add up to the totals printed on the statement. That catches pages that were dropped or rows that were missed during conversion. It is not a forensic test of whether a document was altered, and the table is a reading aid for your own review, not a credit decision or a score.
Analyst time per application
This is a computed example with stated assumptions, not a customer result.
Assumptions: an application includes 2 accounts with 6 months each, so 12 statements; an analyst reads and summarizes a statement in 10 to 30 minutes; analyst time costs 35 to 60 USD an hour.
Manual review takes between 2 and 6 hours per application, which is 70 to 360 USD of analyst time.
At about 5 pages per statement, one application uses around 60 pages. Professional at 74 USD a month billed yearly covers 1,500 pages, roughly 25 applications of that size each month.
| Item | Low case | High case |
|---|---|---|
| Statements per application | 12 | 12 |
| Minutes per statement | 10 | 30 |
| Analyst hours | 2 | 6 |
| Cost at 35 to 60 USD an hour | 70 USD | 360 USD |
Plans for underwriting volume
Starter, 24 USD a month billed yearly (288 USD a year) or 49 USD month to month, gives 400 pages a month for one analyst with XLSX and CSV exports.
Professional, 74 USD a month billed yearly (888 USD a year) or 149 USD month to month, gives 1,500 pages, 3 seats, batches of 100 files and 25 workspaces.
Business, 249 USD a month billed yearly (2,988 USD a year) or 499 USD month to month, adds the REST API and webhooks, 5,000 pages, 15 seats, SSO, audit log, retention controls and a 99.9 percent uptime SLA. This is the plan for a lender that wants statements to flow into its own origination system.
Business Plus, 499 USD a month billed yearly (5,988 USD a year) or 999 USD month to month, raises the allowance to 12,000 pages a month with everything in Business.
Full details are on bank statement converter pricing.
Send statements from your intake flow
On Business, your system posts the applicant's files to the API and receives a webhook when the rows and the balance check result are ready. The same JSON structure comes back for every bank, so your model reads one format. Endpoints and response fields are described on the bank statement parser page.
Applicant data stays under your control
Files are encrypted in transit and at rest and deleted automatically after 24 hours by default. On Business you set retention to match your record-keeping policy, and the audit log records who opened and exported each file. Applicant files are never used to train models. Read the full bank statement data security overview.
Questions lenders and brokers ask
Does the software approve or score applicants
No. It converts statements into a checked table. Credit decisions, scoring and policy rules stay with your team and your own tools.
Can it read statements the applicant photographed
Yes. Phone photos and scans convert on every plan, and the balance check shows whether every row was read.
How many months can I upload at once
As many as the applicant sends. Batches go up to 100 files on Professional and 200 on Business, grouped by account and period.
Are NSF and overdraft lines labelled separately
They appear as the bank printed them, with their own description and amount, so a filter on the description column lists them in seconds.
Can we connect it to our loan origination system
Yes, on Business. Use the API and webhooks to send files and receive structured rows without anyone opening the web app.
Start the next file from a table instead of a PDF stack
Upload one applicant's statements and see the checked table before you open your spreadsheet model.