Bank statement OCR

Enhance the effectiveness of your organization with Optical Character Recognition and machine learning. Scan and process bank statements automatically and securely with Klippa.

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Improve your bank statement processing

Our machine learning technology can automate many bank statement-related business processes via our APIs and SDKs.
Bank statement scanning
Image quality detection and optimization
Image conversion to text, CSV, XLSX, XML and JSON with OCR
Data extraction on bank statements
Classification of bank statements and transactions
(Cross)validating bank statement data
Workflow optimisation

Bank statement data extraction

An image speaks more than a thousand words. Below is an example of the three steps our OCR engine takes to automatically extract data from bank statements.

Upload statement to the OCR API

The first step is providing a picture or a PDF file of one or multiple bank statements. A statement can contain multiple pages. Usually uploading is done from a mobile app or a web application. Klippa automatically removes any background and corrects rotations.

If you do not have camera functionality in your app yet, the Klippa Camera SDK can help with scanning.

Image to text using OCR

The next step is converting the PDF or image into a readable text format using OCR. With OCR we get a text version of the document. Because we now have readable text we can move to the next step: getting structured data using machine learning.

Getting JSON output from the API

The Klippa Parser takes the TXT gained from the OCR in step 2 and converts it into structured JSON using machine learning. The JSON is then returned as output from the API. From here the  information on bank statements can easily be processed in your database. Of course other file formats like CSV, XLSX, XML and more options are available. 

The example on the left is a simplified example of a processed bank statement. The lines are not included in this example.
Reduce costs
Spend less time and money on processing bank statements by using Klippa.
Improve speed
Improve payment speed.
Reduce errors
Prevent manual data entry errors with high quality data extraction on bank statements.
Prevent fraud
Automatically recognize errors, duplicates and fraud.
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Which fields on bank statements are extracted?
Below the default extracted data fields are listed. On request additional fields can also be extracted.
Document type
Image quality
Bank statement vendor
Bank BIC code
Bank account number (IBAN)
Name and address of the bank account holder
Date range
Starting balance
Final balance
Total amount debited
Total amount credited
Transaction lines with descriptions, recipient
account number and name, date and amount

Frequently Asked Questions

What does bank statement processing cost?
The pricing structure for Klippa depends on the amount of fields and the scanning volume. Both pay per use and monthly licenses are available. Get in contact with our solution architects to get an exact quote.
What types of statements are supported?
Klippa can extract all information from bank statements using OCR. We support languages in the Latin, Greek and Hebrew alfabet. We provide out of the box support for major banks and provide custom support to other banks by training our existing machine learning algorithms.

Did you know that apart from bank statements, Klippa OCR can scan other types of financial documents, such as credit card statements, payslips, and SEPA authorizations? Contact us for more information.
Is Klippa bank statement capturing GDPR compliant?
All the services that Klippa offers are fully GDPR compliant. We only use ISO certified servers within the European Union for processing. A data processor agreement is in place. We do not store any of your or your customers’ data after processing.
Is extraction of bank statement lines supported?
Yes. Klippa can extract general statement data, as well as line item data. Optionally we can even divide lines into specific (risk) categories. 
How long does processing bank statements with OCR take?
The speed of processing depends on the amount of pages and the document type. In general processing a statement of up to 3 pages takes less than 5 seconds. The more pages, the longer processing will take.
Can Klippa convert bank statements to CSV, XLSX, XML or JSON?
Yes we can. Klippa takes pictures of bank statements, or their PDF equivalents, and converts them to readable text using OCR. From there we use machine learning to turn the text into structured data. Most of the time we use JSON for this, but depending on your preferences we can also convert bank statements to CSV, XLSX or XML.

When to automate bank statement processing

The automated processing of bank statements using OCR and machine learning, is mostly used for smart lending, bank reconciliation / key off, credit checks and accounting purposes. At Klippa we help companies in these sectores by providing them with plug and play APIs and SDKs for document processing. Our bank statement extraction software enables you to focus on your core business, while we take care of the head ache of data entry.
Please feel free to ask all your questions.
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