# 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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Bank Statements Scanner

Upload File

| LABEL | OCR |
| --- | --- |
| Account holders name | extracted data will appear here |
| Account number | extracted data will appear here |
| Bank name | extracted data will appear here |
| Statement period | extracted data will appear here |
| Starting balance | extracted data will appear here |
| Deposits and credits | extracted data will appear here |
| Withdrawals and debits | extracted data will appear here |
| Ending balance | extracted data will appear here |
| Interest earned | extracted data will appear here |

## join organisations that spend smart

## Here's why you will love Nanonets

### Extract Bank statements data from Emails

Automatically extract data from Bank statements included in forwarded emails

### Automated Data Entry

Snap a picture and Nanonets will take care of the rest.

### 90% straight through processing

Accurately capture predefined labels with Artificial Intelligence. Reconcile data across sources.

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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### Intelligent Document Processing

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

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### Automate Data Entry

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

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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

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How we compare

## Benefits of Nanonets' Bank statements OCR API

Traditional  [OCR Tools](/content/buyers-guide/ocr-software/index.html)

Data Formatting

High savings

Nil or low training data

High training data

High training data

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?