Credit card statement OCR

Automated document processing with OCR saves companies time and money, while reducing mistakes and frustrations. Start scanning and processing credit card statements automatically and securely with Klippa!

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What we can do with credit card statements

Our machine learning technology can automate many statement related business processes via our APIs and SDKs.
Credit card statement scanning
Scan quality detection and optimisation
Credit card statement conversion to text, CSV, XLSX, XML and JSON with OCR
Data extraction on credit card statements
Classifying credit card statements and transactions
(Cross)Validating credit card statement data
Workflow optimisation

Credit card 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 statements.

Uploading statement to the OCR API

The first step is providing a picture or a PDF file of one or multiple CC statements. These can contain one or multiple pages.

Documents can be provided from web applications or mobile applications. In most cases, if they are coming from mobile applications this is via the mobile phone camera. If you do not have camera functionality in your app yet, the Klippa Camera SDK might be beneficial to help with scanning.

Image to text using OCR

The next step is to convert the PDF or image into a readable text format using OCR. With OCR we gain 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 credit card statement data can easily be processed into 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 credit card statement. The lines are not included in this example.
Reduce cost
Spend less on processing credit card statements by using Klippa.
Improve speed
Simplify onboarding and improve processing speed.
Reduce errors
Prevent manual data entry errors with high quality data extraction on credit card statements.
Prevent fraud
Automatically recognise errors, duplicates and fraud.
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What credit card statement fields are extracted?
Below the default extracted data fields are listed. On request additional fields can also be extracted.
Document type
Image quality
Credit card statement vendor
Card number
Name and address of the card 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 credit card 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?
We support all major credit card vendors like Visa, MasterCard and American Express, but also from banks such as ING. If we do not support your credit card statement yet out of the box, we can quickly train our machine learning models to support it. Basically any statement can be processed and all data can be extracted from it. 

Did you know that apart from credit card statements, Klippa OCR can scan other types of financial documents, such as bank statements, payslips, and SEPA authorizations? Contact us for more information.
Is Klippa credit card 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 credit card statement lines supported?
Yes. Klippa can extract general statement data, as well as line item data. Optionally we can even classify the lines into specific categories such as merchant, product or risk type. 
How long does credit card statement OCR processing take?
The speed of processing depends on the amount of pages and the document type. In general processing a statement with up to 3 pages takes less than 5 seconds. The more pages the statement has the longer processing will take.
Can Klippa convert credit card statements to XLSX, XML, JSON or CSV?
Yes we can. Klippa takes pictures of credit card 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 credit card statements to XLSX, CSV or XML.

Use cases for automated credit card statement processing

Credit card statement processing is mostly done in purchase to pay, accounting and expense management use cases. For example to automatically match credit card statements with receipts or other expenses. Automated reconciliation of credit cards saves companies huge amounts of time and prevents errors. Processing credit card statements using OCR can reduce processing time and cost by up to 80%.
Please feel free to ask all your questions.
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