Bank Statement processing automation

Digitize bank statements with 99%+ accuracy in real-time

Easily extract data from bank statements for detailed analysis

AI-based data validation to reduce human effort and time spent

Reconcile statements, analyze credit profiles, and verify tax reporting faster with automated transaction categorization

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Best in class for capturing data from financial documents.

“ We are using Docsumo’s APIs for automating data capture from bank statements and identity cards while onboarding customers. It has reduced the time our operations team spends on data entry by manifoldswhile providing a much better customer experience. "‍

Prashanth Ranganathan

Chief Executive Officer, PaySense (A PayU company)

Readymade APIs for bank statement analysis

Approve more loans and mortgages with automated bank statement processing

Whether you underwrite personal loans, mortgages or commercial loans, process customer bank statements in real time with our readymade APIs. Docsumo's AI-based software detects changes in header/column/table positions, and subtle alterations in bank statements.

Automated Bank Statement Processing for Loan Approvals

Get analytics

Make rapid decisions with AI-based transaction categorization

Measure creditworthiness by categorize transactions for your underwriting decisions. Get granular analytics on debits, credits and previous loans in the same API call.

Automatic Transaction Categorization with Artificial Intelligence

5 Reasons to get the Docsumo Advantage Now!

<60sec

Reduce turnaround time for document processing from days and months to seconds

10x

Increase efficiency by 10X even as you process 10k+ documents a month

99% plus

Reduce manual and repetitive errors with intelligent automation and get accurate data from documents

Smart AI

Algorithms that self-learn based on new document formats and on the go or from manual corrections

Analytics

Make rapid decisions with easy validation and granular analytics

Smart review with human-in-the-loop

Ensure 99%+ data accuracy with AI-powered review screen

Verify extracted data with our smart review screen without changing your workflow. Use Excel-like formulae to validate page totals and get better accuracy over time.

Easy integration

See bank statement data automatically on Salesforce, Quickbooks, Excel, or any financial software

Pull data from bank statement PDFs and convert them into CSV, JSON, or Excel for easy analysis and income verification. Moreover, Docsumo's intelligent processing lets you store your data securely in your existing accounting systems and financial software.

Automatically Export Bank Statements to Financial Softwares

Turn your bank statements into a pool of actionable insights

Whethere you're looking to categorise expenses, assess lenders, prevent anti-money laundering or verify customer identities - Docsumo's intelligent algorithms help you extract a ton of data.

General information

Account holder name

Account number

Date

BIC code

Bank statement vendor

Amount related

Individual/Total debits

Individual/Total credits

Starting balance

Final balance

Transaction IDs

Other information

Transaction lines with description

Recipient account number

Bank statement automation case study

Learn how PaySense processed bank statements in <30 seconds

The Situation

PaySense, a multinational fintech company, processes 100,000 loan applications a month. As part of customer onboarding, the client had to examine bank statements (amongst other documents) from 100+ banks in 1,000 formats. As a result, processing each application manually would take 24 to 48 hours.

Solution

Our Document AI platform recognized document types (passport vs bank statement) based on image characteristics and send to respective API. We helped them categorize bank transaction data to figure out gross incomes, average monthly balances etc. for underwriting loans.

<30sec

Reduced processing time of unstructured data to <30 seconds

95%+

Touchless processing using smart validation rules

70%+

Processing cost reduced by automating workflow end to end

Ready to automate your data extraction?

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Docsumo's intelligent document processing enables you to extract data easily, efficiently, and accurately.
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