Benefit From Automatic Financial Document Processing with Klippa
Reduce costs & turnaround time
Klippa’s AI-powered OCR software is able to process financial documents in seconds. Reduce overhead and operational costs and save time with automated document workflow.
Prevent fraud & enhance compliance
Enjoy easy integration via API & SDK
You can implement our APIs and SDKs into any software or application you’re currently using. All of our solutions are well-documented and created in a developer-friendly way. In general, the implementation of our solution can be done within a day.
We Support a Wide Range of Financial Documents
With Klippa, you can automatically extract and validate data from 10+ financial document types in all Latin languages. Do you have a special request? Don’t hesitate to contact our team.
Data Fields On Financial Documents You Can Extract
With Klippa, you can extract and verify over 150+ data fields. See some of the examples below:
How OCR for Financial Documents Work
Directly scan your financial document with our scanner SDK or upload them through our OCR API
Scan your invoices with Klippa’s document scanning SDK or upload your picture or PDF file to the OCR API. Uploading can be done via a email, FTP, third-party application, web or mobile app.
The document can be sent both uncropped (with the background) and cropped (without). If the picture was sent uncropped, our OCR API automatically crops the document. Klippa’s scanning SDK can be used in mobile apps as well.
Transform image to TXT with OCR for financial documents
As soon as we receive the picture or PDF, our OCR engine will convert it to a TXT file. The software extracts all data from the financial document, but it is not yet structured.
Receive JSON output from the API
The parser takes the TXT which was extracted by the OCR in the previous step and converts it into JSON, using machine learning algorithms. Then, the JSON file is returned as an output from the API.
From this point on, you can easily process the financial document in your database or third-party integration such as ERP or accounting software for example.
Do you want to test our solution for free?
Use Cases of OCR for Financial Documents
Financial documents are everywhere. It can be very time-consuming to process these documents manually, especially in larger quantities. Luckily, automated data extraction on financial documents is possible with OCR.
Accounts Payable Automation
Credit Risk Assessment
Bank Statement Verification
Convert paper and digital bank statements into machine-readable text with OCR technology by swiftly extracting key data such as transaction dates, amounts, and payees. This automated process enhances accuracy, reduces turnaround times, and ensures compliance of the bank statement verification procedures.
Financial Data Collection
Personal finance apps and wealth management platforms can use OCR to help users capture financial data from various sources, such as bank statements, investment reports, and bills, for a comprehensive financial overview.
Loan Application Processing
Digitize and collect invoices and receipts using OCR software. Automatically extract crucial VAT-related information, verify it and store it in a structured database for further VAT reclaim processing.
Tax Document Digitization
Dive Deeper Into Some Of Our Case Studies
More than 1000 companies worldwide rely on Klippa’s software to process documents more securely, faster and cheaper. Read more about how and why.