Automate Data Extraction from Bank statements

Transform financial processes with automated Bank statements processing with Nanonets. Slash turnaround time, costs & efforts with pre-trained Bank statements OCR model.
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Here's why you will love Nanonets

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Automated Data Entry

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90% straight through processing

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HOW WE CAN HELP

Bank statements OCR usecases with Nanonets

Automate Financial Processes

Automate manual financial services processes to boost productivity, reduce cost and enhance omnichannel customer experiences.

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Automate Financial Processes

Intelligent Document Processing

Automate document processes like apporval, storage, data extraction & more with Nanonets OCR workflows. Get access today.

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Intelligent Document Processing

Automate Data Entry

Stop filling financial data into your systems manually. Automate data entry with easy integrations

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Automate Data Entry
Bank statements
WHAT WE EXTRACT

Fields that can be identified

Here are some fields Nanonets can extract by default. Say goodbye to manual data entry. Additional fields can also be extracted on request.

Account holder's name
Account number
Bank name
Statement period
Starting balance
Deposits and credits
Withdrawals and debits
Ending balance
Interest earned
And many more...

When your business is your passion, don’t let data entry get in the way.

Find out how with a free trial and a demo
How we compare

Benefits of Nanonets' Bank statements OCR API

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Traditional  OCR Tools
Data Formatting
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High savings
Nil or low training data
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High training data
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High training data
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Receive documents from multiple channels
Amount of training data needed
Self-learning AI
No Template setup required
IT / API friendly
Multiple export options
Cost and Time Savings

Frequently asked Questions

Learn more about Bank statements processing with Nanonets OCR API

What is automated data extraction from bank statements?
What specific data points can be extracted from bank statements automatically (e.g., transactions, dates, amounts, payees)?
How accurate is automated OCR for bank statement data extraction, including scanned copies?
Can these solutions handle different bank statement layouts from various financial institutions?
What are the advantages of automating bank statement data extraction?
How does automated bank statement processing enhance financial visibility and fraud detection?
How is automated bank statement processing used for accounting and bookkeeping?
How do businesses use automated bank statement processing for auditing and compliance?
How do automated bank statement solutions integrate with accounting software (e.g., QuickBooks, Xero) and ERPs?
What are the common challenges in automating data extraction from bank statements?