How does Perfios work?

Perfios works in three steps: (1) User uploads their bank statement PDF (or connects via Open Banking if supported by their bank). (2) Perfios AI extracts transactions, balances, and patterns. (3) API returns structured JSON with transaction details, income patterns, expense analysis, and risk scores. All processing is encrypted and happens in 5–15 minutes.

Perfios Review 2026: Bank Statement Analysis & Financial Data APIs

📊 Best for enterprise lending and credit decisioning

Quick Verdict

Perfios is India's largest financial data platform — used by all major banks (HDFC, ICICI, Axis, SBI) and 900+ fintech companies for credit decisioning. Bank statement parsing with 95%+ accuracy, ITR analysis for self-employed income, GST data lookup, and income verification APIs. Enterprise-only pricing (custom negotiation), but the accuracy and bank relationships are unmatched. If you're doing lending at scale in India, Perfios is the standard.

Availability (India)

4.8/5

Ease of integration

3.6/5

Value for money

3.9/5

Support quality

4.3/5

What is Perfios?

Perfios is India's largest financial data platform, founded in 2008 in Bengaluru. It specializes in parsing, analyzing, and structuring financial documents (bank statements, tax returns, GST data) into actionable insights for credit decisions, income verification, and fraud detection. All major Indian banks use Perfios internally for underwriting.

Perfios uses proprietary AI/ML and OCR to extract transaction data from PDFs, CSVs, and digital banking exports. The platform identifies income patterns, verifies business revenue, detects fraud signals, and flags risks that manual analysis would miss. For lending platforms, this means faster loan approvals, better risk decisioning, and reduced fraud.

Quick facts: Founded 2008 · Bengaluru, India · 900+ clients (all major banks) · AI-powered financial data extraction · Bank-grade security (ISO 27001, SOC 2) · Enterprise APIs for underwriting and credit decisioning · No direct self-service; enterprise-only partnerships

Core API Capabilities

Bank Statement Parsing

Upload PDFs from any Indian bank, get structured transaction data, balance history, savings patterns, and average monthly balance in JSON. 95%+ OCR accuracy.

Income Analysis

Automatically detect salary income, business income, investment returns from bank statements. Perfios calculates verifiable monthly income for lending decisions.

ITR & GST Data APIs

Extract income, tax paid, business turnover, and expense patterns from uploaded ITR/GST files. For self-employed and business owners, ITR is the source of truth for income.

Fraud & Risk Detection

Identify suspicious patterns: frequent large cash withdrawals, unusual transfers, sudden account closures. Flags potential fraud before it happens.

Open Banking Integration

Direct API integrations with HDFC, ICICI, Axis, SBI — pull live account data without user document upload. Faster and more accurate than document parsing.

Scoring & Decisioning

Perfios Risk Score for creditworthiness, fraud risk scoring, and income verification confidence scores. Used directly in underwriting workflows.

Pricing (Enterprise Custom)

Perfios does not publish pricing. Enterprise custom pricing based on API volume and feature usage.

Per-API Pricing

₹50–200

Per analysis

✅ Bank statement parsing
✅ Income analysis
✅ Risk scoring
✅ ~5–15 min turnaround

Enterprise Volume ⭐

₹5L–20L

Monthly at 10K analyses/month

✅ Volume discount tier
✅ Dedicated CSM
✅ Custom integrations
✅ SLA guarantees

Open Banking

₹10L+

Setup + monthly variable

✅ Direct bank API access
✅ Live account data
✅ Real-time updates
✅ Premium support

💬 Contact Perfios directly for custom quotes. Pricing varies based on partnership depth, API volume, and whether you want Open Banking integrations. Volume discounts available at 5K+ analyses/month.

Who Should Use Perfios

Lending platforms (personal, business, invoice financing) — Bank statement and ITR parsing is core to underwriting. Perfios is the standard used by 900+ lenders in India, so integration is expected by co-lending partners and investors.
neobanks and fintech with KYC workflows — Use Perfios for income verification at account opening. Perfios data helps build credit profiles and inform feature set (credit limits, investment options).
Insurance companies needing income verification — For premium financing or income-linked products, Perfios provides verified income data faster than manual processing.
Wealth/investment platforms building credit profiles — Income and spending patterns from Perfios inform product recommendations and risk management.
Not for: Early-stage prototypes — Perfios is enterprise-only. You need to commit to volume and work with a sales team. Startups should use Decentro or Finvu first.
Not for: High-speed onboarding flows — Bank statement parsing takes 5–15 minutes. If your product needs sub-second API responses, Perfios won't work.

Integration & Support (Enterprise Process)

1

Contact Perfios sales team

Perfios doesn't have a self-serve signup. Email sales@perfios.com with your use case, expected monthly API volume, and whether you need Open Banking. They'll schedule a call to understand requirements.
2

Negotiate SLA and pricing

Perfios will provide a custom pricing quote based on API volume and feature set. Typical negotiations: volume discounts, response time SLAs, dedicated support resources, custom integrations.
3

Implement API and webhook integrations

Perfios provides API documentation, sample code, and Postman collections. Most teams integrate in 2–4 weeks. Complex Open Banking integrations take 4–8 weeks with bank coordination.
4

Test in sandbox with support team

Perfios provides sandbox environment with test documents. Dedicated CSM helps you test parsing accuracy, error handling, and webhook delivery. UAT typically takes 2–3 weeks.
5

Go live and monitor

Perfios dashboard shows API usage, success rates, and parsing accuracy. Dedicated CSM provides monthly reviews and optimization recommendations.

Pros and Cons

Pros

95%+ OCR accuracy on bank statement parsing — best-in-class in India
Used by all major Indian banks for their own credit decisions
Complete financial data stack — bank statements, ITR, GST, income verification
Open Banking integrations provide real-time account data (when available)
Risk and fraud scoring built-in — no separate fraud tool needed
Dedicated CSM support — not just a self-serve API platform
Enterprise security and compliance — ISO 27001, SOC 2, GDPR

Cons

Enterprise-only — no self-serve signup or self-serve pricing
Custom pricing means you need to negotiate; not transparent
Bank statement parsing takes 5–15 minutes (not real-time)
Open Banking integrations require bank coordination (slower, more complex)
Minimum volume commitments often required (typically 5K+ analyses/month)
High switching costs once integrated into lending workflows

Alternatives to Perfios

Decentro

KYC and account opening APIs. Lower cost, faster integration, less comprehensive.

Choose when: Early-stage, need simple KYC

Credgenics

Collections and recovery APIs. Good for lending post-disbursement management.

Choose when: Focus on collections, not underwriting

Finvu

Account Aggregator APIs for financial data access. RBI-regulated alternative.

Choose when: Need Open Banking integration, AA-licensed

Frequently Asked Questions

How much does Perfios cost?

Perfios pricing is enterprise-only and custom. Typical per-analysis pricing: ₹50–200 per bank statement analysis depending on volume. At 10,000 analyses/month, expect ₹5–20L/month (~$6K–25K). Open Banking integrations (direct bank API connections) typically cost ₹10L+ setup + monthly variable costs. All pricing is negotiable based on partnership depth and scale.

How long does Perfios integration take?

Perfios integration typically takes 2–4 weeks for API setup and testing. Complex Open Banking integrations (direct HDFC/ICICI connections) take 4–8 weeks due to bank coordination. The bulk of time is UAT and tuning parsing accuracy for your specific use case.

Is bank statement data secure with Perfios?

Yes. Perfios is bank-grade secure. All major Indian banks use Perfios internally. Data is encrypted in transit and at rest. Perfios is ISO 27001, SOC 2, and GDPR compliant. Bank statements are processed in isolated environments and deleted after analysis (no permanent storage). Customer data is never shared with third parties.

What formats does Perfios accept?

Perfios accepts: (1) Bank statement PDFs from any Indian bank, (2) Bank statement images (scanned), (3) Transaction CSVs exported from internet banking, (4) Digital downloads from DigiLocker, (5) ITR PDFs and GST returns. Perfios OCR handles all formats with 95%+ accuracy for Indian banks.

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