First Direct Statements + Financial Advisors (IFAs) Workflow
As financial advisor, you regularly handle First Direct bank statements. Independent financial advisors reviewing client finances need to analyse bank statements to understand spending patterns, income, and savings capacity.
BankScan AI: First Direct to Excel for Financial Advisors (IFAs)
BankScan AI converts First Direct statements to Excel automatically — handling DD MMM YYYY and minimalist single-column layout with transaction type codes and running balance, similar to HSBC but with simplified headers. Convert client bank statements to Excel for quick financial analysis, cashflow modelling, and wealth planning presentations.
About First Direct Statement Format
First Direct statements follow an HSBC-family format but with a distinct minimalist layout. BankScan AI detects the variant automatically.
First Direct Statement Quirks
First Direct uses DD MMM YYYY with minimalist single-column layout with transaction type codes and running balance, similar to HSBC but with simplified headers. Common issues: The minimalist layout omits some metadata present in standard HSBC statements, telephone banking transaction references use abbreviated codes, and the PDF uses a clean sans-serif font that differs from HSBC's standard. BankScan AI handles all of these automatically.
How Financial Advisors (IFAs) Handle First Direct Statements
When working with First Direct statements, financial advisors (ifas) need to IFAs request bank statements during fact-find meetings to assess client income, expenditure patterns, existing commitments, and savings capacity. They analyse statements to build cashflow models, iden
Key terms you'll encounter: fact-find, suitability report, attitude to risk, capacity for loss, income and expenditure analysis.
How It Works
Upload First Direct statement
Drag and drop your First Direct PDF. Supports PDF. Our AI handles DD MMM YYYY automatically.
AI parses the statement
Our AI understands First Direct's minimalist single-column layout with transaction type codes and running balance, similar to HSBC but with simplified headers and extracts every transaction with 99%+ accuracy.
Use in your financial advisors (ifas) workflow
Download Excel ready for Intelliflo, CashCalc or direct analysis.
First Direct + Financial Advisors (IFAs) Features
- Minimalist header design — distinct from parent HSBC despite sharing underlying transaction codes
- Regular Saver account — transactions appear alongside current account entries
- Built for Financial Advisors (IFAs) — Saves 30-45 minutes per client fact-find on income and expenditure analysis, with annual reviews completed 20-30 minutes faster per client
- Software compatible — Output works directly with Intelliflo, CashCalc, Excel
Convert First Direct Statements — Built for Financial Advisors (IFAs)
Handles DD MMM YYYY dates, minimalist single-column layout with transaction type codes and running balance, similar to HSBC but with simplified headers, and PDF formats automatically.
Convert First Direct Statements Free