Why Insolvency Practitioners Choose BankScan AI
Insolvency practitioners must review years of bank statements to trace transactions, identify preferences, and report to creditors.
How BankScan AI Helps Insolvency Practitioners
Batch-convert years of bank statements into searchable spreadsheets for transaction tracing, preference analysis, and creditor reporting.
The Insolvency Practitioners Bank Statement Workflow
For insolvency practitioners, the core challenge is turning unstructured PDF data into actionable, organised records quickly enough to stay on top of deadlines. BankScan AI eliminates this bottleneck by handling the data extraction automatically, so insolvency practitioners can focus on analysis, client advice, and compliance rather than manual data entry.
How Insolvency Practitioners Use Bank Statement Data
Insolvency practitioners obtain bank statements from the insolvent entity's banks, convert them to analysable data, trace transactions for the relevant look-back period, identify preferential payments and transactions at undervalue, prepare Statement of Affairs, and produce reports for creditors' meetings. They must reconstruct the financial position at the point of insolvency.
Key terms you'll encounter: preferential payment, transaction at undervalue, Statement of Affairs, creditors' voluntary liquidation, look-back period.
How It Works
Upload any bank statement PDF
Supports all major UK and US banks. Saves 6-10 hours per insolvency case on initial bank statement analysis, with complex cases involving years of statements saving multiple days of manual work
AI extracts every transaction
Our AI reads the PDF and pulls out dates, descriptions, amounts, and balances — formatted for insolvency practitioners workflows.
Download your spreadsheet
Get a formatted Excel file ready for IPS Cloud, CaseWare, Excel with Power Query or direct analysis.
Peak Period Tip for Insolvency Practitioners
Insolvency cases peak during economic downturns and after major creditor actions. Quarter-ends often trigger company failures, and January sees increased personal insolvency filings after Christmas spending.
Supported Banks
BankScan AI works with all major UK and US banks, including:
Features Insolvency Practitioners Love
- Built for Insolvency Practitioners — Saves 6-10 hours per insolvency case on initial bank statement analysis, with complex cases involving years of statements saving multiple days of manual work
- Software compatible — Output works directly with IPS Cloud, CaseWare, Excel with Power Query
- Peak period ready — Handles high volumes during insolvency cases peak during economic downturns and after major creditor actions
- Solves your challenges — Tracing transactions across multiple related entities where directors have moved funds between connected companies before insolvency
Compliance Considerations for Insolvency Practitioners
When handling bank statement data, insolvency practitioners must comply with relevant regulations.
- IPs are licensed by recognised professional bodies (IPA, ICAEW, ACCA) and regulated by the Insolvency Service. They must comply with the Insolvency Act 1986, Statement of Insolvency Practice (SIPs), and report to the Secretary of State on director conduct. Detailed financial records must support all claims and distributions to creditors.
Start Converting — Built for Insolvency Practitioners
Join insolvency practitioners across the UK who save hours every week with BankScan AI.
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