The best OCR for bank statements

Introduce AI to your bank statements reading and processing. Alphamon helps you get relevant data fast, and with top accuracy and customization.

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Reliable tool for detailed analysis

Bank statements are complex documents, and analyzing them takes time and effort. Errors made in data entry form these documents may also result in serious consequences, including loan rejection, wrong investment advice or poor risk assessment.

Alphamoon’s OCR includes table extraction, which means that you can automate reading all data – including cells from complex tables.

Getting data faster creates space for more thorough analysis, since you can easily import the extracted information to any system you’re using.

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Cutting-edge tech to work with your docs stack

AI OCR

Optical character recognition converts images, such as photos or scans, into machine-encoded text. The model handles low-quality so worry not about multilingual symbols, poor image quality, and stains.

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Extraction

The core feature of our technology is the powerful data extraction component. With AI and ML at its core, entity extraction understands the context of data fields. You can also customize the fields you’d like to extract.

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Classification

Based on the contents and layout of the doc, the platform automatically labels the incoming files and sorts them. The first segmentation requires no manual work.

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Integrations

Connect Alphamoon with your stack through API or via Zapier. Add a database like Google Drive or OneDrive to source new documents straight to the document automation tool.

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FAQ

Have questions about the product? Read the most common ones, or head to the full FAQ below.

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What processes can I improve thanks to bank statements OCR?

Depending on your role, you may benefit from bank statements OCR in multiple ways. Investment bankers, and advisors rely on a stack of financial documents to provide professional advice, so data extraction automation reduces the time spent on document reading and data entry. In accounting and finance operations, bank statements can be used to track business healthiness and record changes in cash flow, liabilities, equitiesm, and so on. Small and medium companies may use this solution to process the financial documents on a regular basis and track changes for reporting to investors or for their own use.

What formats can I process in Alphamoon?

The platform supports common file types, including PDF, DOCX, XLSX, PNG, JPG, TIFF, and emails. After data extraction, data appears in a file, ready to be downloaded as CSV or XLSX or safely imported into the internal processing system of your choice through API or Zapier.

What kind of data can be read from bank statements?

Most of the data pulled from bank statements describes the financial situation of a company. Therefore, the data includes company details (such as name, addresses, etc.), transations overview (transaction amounts, type, etc.), and specific financial information (various data fields that regard accrued payments, interest and exchange rates, balances and others).

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