Streamline finances with bank statement extraction
Discover Xtracta’s OCR bank statement capture API: a groundbreaking solution for fast, accurate data extraction. Talk to an expert today to learn more.
AI Powered
Seamless Intergration
High accuracy & Speed
User friendly.
Inbuilt workflows.
Highly flexible
Accurately extract bank statement data in seconds
Suitable for various applications, Xtracta’s bank statement extraction API is accurate, fast, and provides data you can be confident in. Backed by Xtracta’s built-in workflow management capabilities, the API can be used for many use cases, from lending to data aggregation applications.
Key features
Comprehensive Validation
The system has powerful validations to ensure that all data is consistently and accurately captured from the documents. Including tools such as mathematical checks covering opening, closing balances, and all transactions through to database and external 3rd party validation integrations, you can be confident that only accurate data is output from the system.
Outlier Detection
Xtracta’s system has a comprehensive and highly flexible feature set. Use tools such as the maths calculator, external data service lookups and more to find out-of-the-ordinary transactions and mark these for human review. Statements can also be automatically scored to determine risk profiles etc. based on the number and type of exceptions.
Sort Document Types
Xtracta’s technology has the ability to quickly sort large volumes of incoming documents to determine their types and pull individual documents from large multi-document PDFs. The technology can sort and find bank statements within a wider set of documents and process these with the remaining documents either being ignored or processed through their own workflows
Workflow Management
The service includes workflow management capabilities that includes queue handling (including multiple stages such as QA and rejection handling), document tracking, easy-to-use data correction screens and more. These can be optionally used with the API to assist with end-to-end workflows.
Why Integrate Bank Statement Extraction?
Enhanced Accuracy & Reliability of Data
Using advanced validations allows businesses to reduce errors in data capture from bank statements. This accuracy is crucial for financial analysis, reporting, and decision-making processes, ensuring businesses rely on verified data to make informed choices.
Enhanced Accuracy & Reliability of Data
Using advanced validations allows businesses to reduce errors in data capture from bank statements. This accuracy is crucial for financial analysis, reporting, and decision-making processes, ensuring businesses rely on verified data to make informed choices.
Enhanced Accuracy & Reliability of Data
Using advanced validations allows businesses to reduce errors in data capture from bank statements. This accuracy is crucial for financial analysis, reporting, and decision-making processes, ensuring businesses rely on verified data to make informed choices.
How Xtracta Work
FAQ
How can I extract data from bank statements?
Extracting data from bank statements involves integrating Xtracta’s API with your financial software. The API, leveraging OCR and AI technologies, automatically extracts and structures data from uploaded bank statements. You can then utilise this data within your system for financial analysis and other processes.
What kind of bank statements can Xtracta’s API process?
Xtracta’s API processes a wide range of bank statements, including formats and statements from numerous banks, adapting to diverse financial document types.
Is Xtracta’s bank statement API easy to integrate with existing systems?
Integration is streamlined and user-friendly, designed to seamlessly mesh with existing financial systems and software, minimising the need for extensive technical know-how.
Find Support
Xtracta provides tailored and dedicated support for software firms and partners we work with to facilitate smooth and effective integration of Xtracta. To access this support, please reach out to your specific Xtracta Customer Support Manage
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