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What is a Bank Statement OCR data extractor?
A Bank Statement optical character recognition (OCR) Data Extractor is a specialised software application designed to retrieve and digitise text-based data from scanned or printed documents, specifically from bank statements. OCR technology converts different types of documents, such as PDF files, scanned paper documents, or images captured by a digital camera, into editable and searchable data. Our AI technology then takes this data and transforms it into a structured format, allowing banks, financial institutions and finance teams to use this data as required.
Using a Bank Statement OCR data extractor offers multiple benefits. First, it enhances efficiency by eliminating manual data entry. This automation significantly speeds up the process, allowing businesses to save precious time and effort. Additionally, it helps in reducing human error that often occurs during manual data extraction and entry. This ensures the accuracy and reliability of data, which is critical for applications like financial analysis, auditing, or transaction verification. Moreover, using OCR data extraction aids in streamlining financial management. Information from multiple bank statements can be extracted and consolidated into a single, manageable format. This not only simplifies data handling but also allows for a holistic view of the financial situation, facilitating informed decision-making.
Step 1
Upload your documents to Affinda directly to our app, or by integrating with email or document management platforms
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Step 4
Need an AI data extractor customised to your specific business needs? Our expert team can build a model tailored to your business workflows that integrates seamlessly with existing processes.
Bank statement details:
- Statement Number
- Account Number
- Statement Period
- Closing Balance
Bank details:
- Bank statement vendor
- Bank name
- Bank Business Number
- Bank Credit License Number
Customer details:
- Customer Name
- Customer Address
Line-item details:
- Date
- Transaction
- Debit
- Credit
- Balance
Don’t see the fields you need above?
Innovative features that set us apart from the rest.
Superior accuracy
Over 20+ fields extracted
Supports multiple file formats: PDF, JPG, PNG
Highly flexible and customisable
Supports over 56 languages
Upload and extract in bulk
Self-learning models improve over time
Seamless upstream and downstream integration
Banking professionals use our bank statement data extractor to reduce manual efforts, streamline data entry, and enhance accuracy in their banking transactions.
Software developers in the banking and finance industry can integrate our bank statement OCR via API into their systems, providing a seamless bank account data extraction experience for their users and enhancing from traditional data extraction processes.
Financial and accounting departments apply our AI-driven bank statement OCR data extractor to automate the extraction of banking transactional details, boosting efficiency in financial management and supporting comprehensive decision making.
