Jenfi adds AI bank-statement checks for SME credit review

Jenfi said it upgraded its in-house bank-statement analysis system on Oct. 9, 2026, adding AI-assisted extraction, transaction reconciliation and document-risk screening for SME underwriting. The changes are meant to make credit review faster and more traceable across Singapore and Vietnam.

Why it matters: - Jenfi’s upgraded workflow targets a common bottleneck in SME lending: turning bank statements from different banks and file formats into structured data credit teams can evaluate. - The system adds verification controls that can surface inconsistencies and document-risk flags before a credit decision is made. - The changes support Jenfi’s financing operations in Singapore and Vietnam.

What happened: - Jenfi announced upgrades to its in-house bank-statement analysis and underwriting infrastructure on Oct. 9, 2026. - The workflow combines automated extraction, financial-data checks and AI-assisted review for SME credit assessment. - The upgraded process is already being used in Jenfi’s bank-statement review workflow. - The company said the system is built to work across PDF and Excel bank statements. - More information is available in Jenfi’s announcement.

The details: - Hybrid document extraction uses deterministic parsers with AI fallback to process bank statements. - Extraction results can be reused, which reduces repeated document-processing steps. - Transaction reconciliation checks whether extracted financial data is internally consistent. - Document-fraud checks flag potential irregularities for further review. - Processing status, document-risk status and AI-assisted review outcomes are shown separately. - Inconclusive cases are escalated for human assessment. - Jenfi introduced separate processing, fraud-review and AI-assisted review states in September 2026. - Reviewers can see whether a document is awaiting extraction, needs assessment of a potential irregularity or has a review outcome requiring action. - Credit teams review flagged or inconclusive cases and retain responsibility for accepting documents.

Between the lines: - The new workflow gives Jenfi more control over document coverage, extraction logic and exception handling because the system is built in-house. - That setup also makes it easier to adapt to new statement formats and changing operational requirements. - The separation between processing issues and risk flags suggests Jenfi wants clearer auditability in credit decisions. - Justin Louie, Jenfi’s co-founder and chief technology officer, said the approach combines rules-based processing, AI-assisted extraction and reconciliation checks with clear escalation when a document needs further assessment. - Louie said the goal is to give the credit team structured information to inspect, plus visibility into unresolved issues and the review steps taken.

What’s next: - Jenfi is likely to keep updating the workflow as new bank-statement formats appear and underwriting needs change. - The company will continue to rely on human review for flagged and inconclusive documents. - The infrastructure will remain part of Jenfi’s SME financing operations across Singapore and Vietnam.

The bottom line: - Jenfi is trying to make SME credit review more structured, traceable and adaptable by keeping bank-statement analysis in-house and layering AI on top of verification controls.