By Jake Osborne | Credit Sense & Lead Market
Managing how customers supply transaction data during credit or other applications can be complex — especially when PDF bank statements are involved. But rather than reinventing the wheel, you can now streamline the backend processing and improve the customer experience.
Credit Sense’s Document Upload solution removes manual bottlenecks, reduces fraud risk, and delivers faster, more accurate assessments — all while keeping the familiar PDF upload experience for your customers and brokers.
The Real Cost of Manual PDF Processing
When customers upload PDF bank statements, what looks like a simple process quickly turns into a labour-intensive, error-prone backend task. Every statement must be opened, reviewed, verified, and recorded — often across multiple banks and accounts.
Here’s how that impacts both internal teams and customers:
| Process Step | Internal Pain Point | Customer Pain Point |
| Document collection | Assessment delays and risk of error while the time consuming task of opening each document and confirming name, BSB, account number and period to ensure all data for all accounts has been received. | Delay and frustration as they may need to submit documents multiple times to provide all data before the assessment can start. |
| Verifying document authenticity | Assessment delays and risk of error as specially trained staff manually check for tampering or fraudulent document indicators. | Further delays if documents are flagged as needing manual verification. |
| Extracting key compliance and credit risk information | Assessment delays and risk of error as key compliance and credit risk (income, expenses, undisclosed finance, etc.) information is calculated. | Further wait times and potential for the customer to have to supply additional documents. |
| Credit assessment | Credit and compliance risk if the visibility of the customer’s full 360º financial picture is inconsistent or contains errors. | Delays and frustration due to potential for slow or incorrect approval due to siloed systems and data transfer. |
Combat Document Fraud Instantly
Document fraud is a growing problem. In 2024, the Australian National Anti-Scams Centre (NASC) reported over $2 billion lost to scams — many involving fraudulent or tampered documents.
Source: NASC Targeting Scams Report 2024
Credit Sense uses advanced automation to verify the authenticity of documents
- PDF authenticity and integrity
- That documents have not been tampered with
- That all required statements have been submitted
This is done through our Authenticate feature — giving you verified data in seconds, not hours.
Automate the process and Accelerate Assessments
Credit Sense’s Document Upload service removes manual handling and provides;
- Automatic extraction of customer name, account number, and statement dates
- Instant verification of document authenticity
- Real-time reconciliation of multi-account and multi-bank submissions
- Consolidated reporting, even across co-borrowers
Data is extracted and ready for assessment almost immediately, allowing faster decisions and an improved customer experience.
Flexible Reporting to Match Your Use Case
- Affordability Report (with CCCFA analytics for New Zealand)
- Income Report for quick income identification
- Hardship solutions to assess changes in financial health
- Commercial Report to understand business inflows/outflows
Data from PDF statements can also be merged with data gathered through Digital Data Capture (DDC), giving you a single source of truth.
Key Benefits of Credit Sense Document Upload
- Secure: ISO 27001 certified by Lloyd’s Register (systems, assets, people, and processes).
- Fast: Each document is validated and extracted in seconds.
- Comprehensive Coverage: Supports PDFs, interim statements, and transaction lists for most Australian and New Zealand banks.
- Responsive Support: New formats added within two business days if not already supported.
See our demo!
Reach out to [email protected] to get a live demo from our product specialists.