AI Bank Statement Processing & Data Extraction Software

Automating their processes with AI

Affinda has removed the laborious workload from our accounts staff, who now focus on quality assurance and management of any outliers.

- Nathaniel Barrs, CTO, PSC Insurance

95%

reduction in manual work

10×

more invoices processed with no added staff

Enhanced auditability and tracking of invoice approvals

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Customer satisfaction is always our top priority, and Affinda has helped us achieve that by eliminating phone calls, manual handling, and delays.

- Jorg Both, Head of Business Systems, Northline

120,000

proof of delivery documents processed annually

82%

of documents straight-through processed in the first weeks

Automatic validation of documents against ERP system

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Two recruitment specialists reviewing a list of candidates

Affinda's ongoing improvements in its AI models demonstrate its innovative approach in Document AI.

– Michael Zhao, AI Product Manager, SEEK

High accuracy parsing across multiple languages
Improved customer experience thanks to better structured data
Stronger compliance with international data security and software standards

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Affinda’s support and expertise were invaluable… The experience working with Affinda was excellent.

- Nick Tran, Business Analyst, StateCover Mutual

300,000

documents processed annually

80

different document types

60%

Enhanced auditability and tracking of invoice approvals

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Logistics manager reviewing paperwork onsite

The results have spoken for themselves. I recommend Affinda to anyone looking to enhance their product or business with AI capability.

- Steve O’Keeffe, CTO, Felix

76%

reduction in manual data input

30%

reduction in compliance data errors

85,000

compliance documents processed annually

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Frequently asked questions

What is bank statement processing?

Bank statement processing is the workflow organizations use to extract, validate and analyze transaction data from bank statements. Our AI bank statement processing software automates this entire process to eliminate manual data entry, reduce errors and accelerate reconciliation. It captures account details, transaction histories, balances and reference numbers – ensuring accurate financial reporting and seamless integration with your accounting software, lending systems and analytics platforms.

What is bank statement data extraction?

Bank statement data extraction is the process of capturing and pulling key financial data from bank statements (such as account details, transaction dates, amounts, balances and reference numbers). Our AI platform automates bank statement data extraction, transforming unstructured documents into structured, accurate data ready for your accounting systems, loan platforms and financial workflows.

What is bank statement extraction?

Bank statement extraction is the automatic capture of key financial data from bank statements using AI. Our bank statement extraction software combines reading order models, OCR, LLMs, RAG and more to convert unstructured statements into structured data with high accuracy and faster processing times.

What is an bank statement parser?

A bank statement parser is a tool that automatically reads and extracts data from bank statements. It converts unstructured financial documents into structured, usable formats that integrate seamlessly with your systems. Our AI bank statement parser adapts to different layouts and formats, learning from each interaction to deliver consistent accuracy – no matter the source or structure.

What is bank statement line extraction?

Bank statement line extraction captures individual transaction rows from your statement tables, preserving the relationships between dates, descriptions, amounts and running balances. Our platform handles complex transaction tables with precision – from simple layouts to grouped transactions and multi-page statements – converting each line into structured, actionable data ready for reconciliation and analysis.

What data fields can Affinda’s AI bank statement processing software extract?

Affinda's AI bank statement processing software can extract data from any field on your statements – both standard fields and custom ones unique to your workflow. Standard data fields include:

Statement Details

Account Holder Name: Individual or organization name associated with the account.
Account Number: Unique account identifier in any domestic or international format.
Bank Branch / Bank Name: Issuing bank's name and branch location details.
Statement Period: Start and end dates of the reporting period.
Opening Balance / Closing Balance: Account balance at the start and end of the period.
Currency: The currency denomination of the account.

Transaction Lines

Transaction Date: The date each transaction was posted or processed.
Transaction Description: Descriptive text explaining the nature of each transaction.
Amount (Debit/Credit): Transaction value, whether outgoing or incoming.
Running Balance: The account balance after each individual transaction.
Reference Number: Unique transaction identifier, confirmation code or check number.
Payee / Merchant: Name of the recipient or merchant when available.
Transaction Type / Category: Classification of the transaction (withdrawal, deposit, transfer, fee).
Fees / Charges: Any service fees or charges associated with the transaction.
Notes / Memo: Additional notes or memo fields attached to transactions.

Other Fields

Page Number: Page index for multi-page statements.
Account Holder Address: Registered address of the account holder.
Bank Contact Information: Bank's contact details such as address or phone number.

Need something specific to your statements? Define custom fields directly in the platform – using the UI or simple natural language – and Affinda will extract them automatically.

What file types does Affinda’s AI bank statement processing solution support?

Our AI agents can process any file type.Supported file types include PDF, JPG/JPEG, PNG, TIFF, DOC/DOCbank statement (Word), bank statementLSbank statement (Excel), HTML and Tbank statementT/CSV.

How does Affinda process bank statements and extract bank statement data?

Affinda's AI agents read, extract and validate bank statement data. Our platform is intuitive to set up and easily integrates into your systems. Simply:

Upload your bank statements via drag-and-drop, email or API.
Configure business logic to match your organization's rules and workflows.
Let Affinda check and validate extracted data against your business logic and accounting software, loan origination systems or KYC/AML platforms to ensure accuracy.
Access structured bank statement data directly within your systems.

The result? Faster, more accurate bank statement processing with minimal manual input.

Can Affinda extract data from scanned or image-based bank statements?

Yes. Our AI bank statement processing platform combines OCR with retrieval augmented generation (RAG), LLMs, agentic workflows, proprietary reading order algorithms and more, to automatically detect and process data from scanned or photographed invoices (PDF, JPG, PNG). Even low-quality images are automatically enhanced for reliable data capture and processing.

What language does Affinda’s AI bank statement automation platform support?

Our AI bank statement processing platform can automatically detect and process bank statements in 50+ languages, including multilingual bank statements containing more than one language.Supported languages include: Afrikaans, Albanian, Amharic, Arabic (Standard, Egyptian, Sudanese, Algerian, Moroccan, Levantine), Bahasa Indonesian, Bengali, Bhojpuri, Bulgarian, Burmese, Chinese (Mandarin [PRC/Taiwan], Cantonese, Wu, Min Nan, Jinyu, Xiang, Hakka), Croatian, Czech, Danish, Dutch, English, Estonian, Finnish, French, German, Greek, Gujarati, Hebrew, Hindi, Hungarian, Italian, Japanese, Javanese, Kannada, Korean, Latvian, Lingala, Lithuanian, Macedonian, Malayalam, Marathi, Nepali, Norwegian, Odia, Persian (Farsi), Polish, Portuguese, Punjabi (Western and Eastern), Romanian, Russian, Slovak, Slovenian, Somali, Spanish, Swahili, Tagalog, Tamil, Telugu, Thai, Turkish, Ukrainian, Urdu, Vietnamese, Yoruba.

Does Affinda integrate with accounting software and financial systems?

Yes. Our platform integrates with 400+ downstream systems, including accounting software, loan origination systems, KYC/AML platforms, ERPs and BI tools. You can build no-code integrations using our AI integrations agent, or create custom connections using our APIs – whatever fits your bank statement processing workflow best.

What are some examples of AI bank statement workflow automations?

AI bank statement processing helps automate and optimize financial workflows across business units such as:

Finance & Accounting: Accelerate bank reconciliation by automatically extracting transaction data, account balances and reference numbers from any statement format. Business-rule validation catches discrepancies, duplicate transactions and balance mismatches before they reach your accounting software.
Lending & Underwriting: Speed up loan decisions with accurate extraction of account holder details, transaction histories and cash flow patterns – automatically feeding structured data into your loan origination systems for faster, more confident underwriting.
Compliance & Risk: Strengthen KYC and AML checks by capturing and analyzing transaction patterns, account details and reference data across multiple statements – integrating seamlessly with your compliance platforms to improve accuracy and audit readiness.

What is an bank statement OCR data extractor?

A bank statement optical character recognition (OCR) data extractor scans and captures financial information from bank statements, regardless of format or language. Upload statements in PDF, JPG or PNG formats. The OCR technology first converts the documents into a text layer, ensuring all text (even from scanned documents or photographs) is captured. Affinda's AI models then identify and extract key fields such as account holder details, account numbers, transaction dates, descriptions, amounts, running balances and reference numbers, transforming them into structured, usable data.This automation eliminates manual data entry, reduces errors and accelerates processing times. Once the bank statement data is captured and structured, our AI bank statement processing pipeline can apply business-rule validation and post-processing to enable seamless integration with accounting software, loan origination systems, KYC/AML platforms, ERPs and BI tools.Organizations across banking, finance, accounting, lending and fintech rely on Affinda's AI for bank reconciliation, loan underwriting, compliance checks and financial analysis – streamlining workflows and improving accuracy across their operations.

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The AI platform for bank statement processing

How to automate bank statement processing with Affinda's AI

Upload your bank statements, your way

Watch as it extracts your bank statement data

Automatically route the data to your systems

Extract any information from any document, fast

Create models in seconds

Cleanse and transform data

Apply business logic

Pathway 1: Use our AI integrations agent

Pathway 2: Write your own code

Get AI agents to process your bank statements

Automate bank statement processing with 99%+ accuracy

See ROI in weeks, not months

AI that instantly learns from your bank statement and adapts

Easy integration, zero disruption

Configure your bank statement model, customize and maintain control

Enterprise-grade security

Combine the best of artificial and human intelligence

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Automating their processes with AI

95%

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120,000

82%

300,000

80

60%

76%

30%

85,000

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