How to Extract Long and Complex Bank Statement Data in Seconds with AI

TL;DR

1. Upload bank statements via drag-and-drop or select from system files.
2. Docsumo extracts key data, including account number, balance, and line items, within 30 seconds.
3. Features like categorisation and data validation are available with premium accounts.
4. Output can be exported as CSV, JSON, via API, or webhook.

Manual bank statement processing is tedious, error-prone, and time-consuming. What if you could eliminate those challenges and process statements in seconds? With Docsumo’s AI-powered automation, extracting key financial data like account numbers, balances, and line items is quick, accurate, and effortless. 

In this short guide, we answer the most common questions on how to extract financial data using Docsumo’s bank statement processing solution.

Q1: What’s the fastest way to upload a bank statement in Docsumo?

A: Simply click “Add Document Type,” select Bank Statement, and either upload your file or choose from sample documents. You can upload individual files, entire folders, or do it from the document type card.

Q2: How long does Docsumo take to process a statement?

A: Just around 30 seconds. Once uploaded, Docsumo uses OCR and AI to read the document and display the data in a structured card format.

Q3: What information does Docsumo extract from bank statements?

A: Docsumo captures - Bank name, Account number, Line items (credit, debit, balance), Total pages, Opening and closing balances, and any other field else you need to extract. You can customize the fields in the settings to be extracted within the platform to suit your business needs.

If there are multiple accounts in one statement, it detects and separates them too.

Q4: What happens if categorisation is disabled?

A: If categorisation isn’t enabled (usually for free-tier accounts), Docsumo will still extract the data but won’t auto-classify line items. Want this feature? Chat with the Docsumo team to enable categorisation and simplify financial workflows.

Q5: What file formats can I download the extracted data in?

A: You can export the extracted data in Excel, CSV, JSON, or through API/Webhook integrations. Docsumo is also has integrations with Google Sheets and popular CRM/ERP tools like Salesforce to make your workflow even smoother. 

Q6: Can I see which parts of the document were ignored?

A: Yes, Docsumo provides confidence scores for the extracted data so you know exactly what was captured and where it needs further human intervention. This visibility helps in quality control and train the model to improve the accuracy for the following set of documents.

Q7: What if I want to process multiple bank statements at once?

A: No problem! You can easily bulk upload multiple documents or even entire folders. Docsumo will automatically parse each bank statement individually and keep everything organized. Want to see how other finance teams handle this at scale? Explore our Document AI success stories for additional inspiration.

Q8: Is the core extraction feature available for all users?

A: Core extraction is available even on free accounts, but advanced features like categorisation, validation rules, and custom workflows are unlocked in premium plans. You can sign up or book a demo to determine which plan best suits your use case.

Q9: Is the extracted bank statement data secure and private?

Docsumo Document AI follows strict data security protocols, including encryption, secure storage, and compliance with regulations such as GDPR and SOC 2, ensuring the confidentiality and privacy of your data throughout the entire process.

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Final Thoughts

Bank statement processing doesn't have to be a chore. With Docsumo, you reduce manual effort, increase accuracy, and prepare structured data for seamless integration into downstream workflows. Whether you’re a finance team, accounting firm, or fintech startup, Docsumo helps you turn paper into productivity.

Ready to see it in action? Start your free trial or explore the Docsumo platform now.