Bank Statement OCR for data extraction.

Extract account holder, balances, transactions and IBAN from monthly statements in under 30 seconds. Multi-bank, multi-format, 99.2% accuracy out of the box.

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extracted.json · Bank Statement OCR

// extracting · STMT-2024-09

account_holder Sarah Müller 100%
iban ES91 2100 0418 4502 0005 1332 100%
statement_period Sep 2024 100%
opening_balance €4,231.18 99.8%
closing_balance €5,847.62 99.6%
transactions_count 47 100%
currency — Currency inferred · review

0 statements Verified · validated today · 99.2% accuracy

Powering document extraction for teams at

Unlock the power of Invofox's Bank Statement OCR.

Six built-in capabilities replace manual reconciliation, broken transaction parsing and unreliable multi-bank workflows.

Automate transaction extraction

Eliminate manual data entry with AI-powered OCR + ML that adapts to any bank's statement layout.
Reconcile balances automatically

Validate opening + transactions = closing balance on every statement — flag mismatches instantly.
Multi-bank, multi-format

Recognize statements from 200+ banks worldwide, in tabular, scanned or PDF-native form.
Underwriting-ready

Stream extracted transaction history straight into credit, lending and KYB pipelines.
Auto-categorize transactions

Tag transactions by merchant, recurrence, salary, transfers — useful signal out of the box.
Multi-currency aware

Extract amounts, dates and IBAN/SWIFT codes with locale-aware parsing across all major regions.

Extract and verify all essential bank statement fields.

Every field that matters to lending, underwriting, KYB and audit — captured, validated and ready to flow downstream.

bank_statement_schema.json

Account 3 fields
1. account_holder Sarah Müller string
2. iban ES91 2100 0418 4502 0005 1332 string
3. bic_swift CAIXESBBXXX string
Statement period 3 fields
1. period_start 2024-09-01 date
2. period_end 2024-09-30 date
3. currency EUR string
Balances 4 fields
1. opening_balance 4,231.18 number
2. total_credits 5,847.40 number
3. total_debits 4,230.96 number
4. closing_balance 5,847.62 number
Identifiers 3 fields
1. bank_name CaixaBank string
2. statement_id STMT-2024-09-0418 string
3. transactions 47 number

Key capabilities of Invofox.

From classification to expert review, every layer of the pipeline is built to be reliable, observable and tuneable.

PDF Splitter

PDF Splitter

Automatically split multi-page bank statements into structured sections — no preprocessing.
Classifier

Classifier

AI-powered classification recognizes statement vs cheque vs notice in a single API call.
Data Extraction & Verification

Data Extraction & Verification

Extract account, balance and transaction fields, then validate them against schema rules before delivery.
Intelligent Parsing

Intelligent Parsing

Turn unstructured statement tables into structured, validated JSON ready for any downstream system.
Expert Correction

Expert Correction

Human-in-the-loop review on low-confidence fields delivers the highest accuracy on the market.

Why choose Invofox over standard OCR for bank statements.

Plain OCR reads pixels. Invofox reads bank statements — with built-in AI, validation, and integrations.

Invofox Standard OCR

Accuracy rate

Invofox 99.2%

Standard OCR 60–85%

Technology stack

Invofox OCR + AI + ML

Standard OCR OCR only

Processing time

Invofox Under 30s

Standard OCR Up to 2:30 min

Process automation

Invofox

Standard OCR

API integration

Invofox

Standard OCR

Advanced extraction

Invofox

Standard OCR

Self learning

Invofox

Standard OCR

Real-time suggestions

Invofox

Standard OCR

Recommended

Invofox

OCR + AI + ML pipeline built for statements.

Accuracy rate 99.2%
Technology stack OCR + AI + ML
Processing time Under 30s
Process automation
API integration
Advanced extraction
Self learning
Real-time suggestions

Limited

Standard OCR

Plain OCR reads pixels — not bank statements.

Accuracy rate 60–85%
Technology stack OCR only
Processing time Up to 2:30 min
Process automation
API integration
Advanced extraction
Self learning
Real-time suggestions

Frequently asked questions.

~/invofox / faq.json

// questions 11

1 {

2 ··"question": "How does Invofox work for bank statement OCR?",

3

4 ··"answer": "Documents are processed through a hybrid OCR + AI pipeline: pages are classified, layouts are detected, fields are extracted with a confidence score, and the result is validated against your schema before being delivered via API or webhook."

5 }

How it works how.json
1 {

2 ··"question": "Which banks are supported?",

3

4 ··"answer": "200+ banks worldwide — including major US, EU, UK, LATAM and APAC institutions. New layouts are added continuously, and custom banks can be onboarded in days."

5 }

Banks banks.json
1 {

2 ··"question": "How are transactions extracted?",

3

4 ··"answer": "Every transaction is extracted as a structured row: date, description, debit, credit, balance after, with merchant + recurrence tagging available out of the box."

5 }

Transactions transactions.json
1 {

2 ··"question": "Can it process scanned PDFs?",

3

4 ··"answer": "Yes — scanned, photographed and PDF-native statements are all supported. Skewed pages, watermarks and stamps are normalized before extraction."

5 }

Scanned scanned.json
1 {

2 ··"question": "Does it validate balances?",

3

4 ··"answer": "Yes — Invofox cross-checks opening + Σ(credits) − Σ(debits) = closing balance on every statement, flagging any mismatch as low confidence for review."

5 }

Reconciliation reconcile.json
1 {

2 ··"question": "How fast is processing?",

3

4 ··"answer": "Most statements complete in under 30 seconds end-to-end. Bulk uploads run in parallel, so 1k documents finish in a single batch window."

5 }

Speed speed.json
1 {

2 ··"question": "Can it process statements in bulk?",

3

4 ··"answer": "Yes — the API accepts bulk uploads and runs documents in parallel. Results stream back via webhook as each statement completes, so your system never blocks."

5 }

Bulk bulk.json
1 {

2 ··"question": "What's the accuracy rate?",

3

4 ··"answer": "99.2% on a real-world benchmark of millions of statements, measured side-by-side against ground-truth. We publish the methodology and benchmark per client."

5 }

Accuracy accuracy.json
1 {

2 ··"question": "Does it support multiple languages and currencies?",

3

4 ··"answer": "Yes — multilingual and locale-aware parsing handles date formats, currencies, IBAN/SWIFT codes and number separators across all major regions out of the box."

5 }

Languages lang.json
1 {

2 ··"question": "Is it secure and compliant?",

3

4 ··"answer": "Invofox is SOC 2 Type II, ISO 27001 and HIPAA compliant. Documents are encrypted in transit (TLS 1.3) and at rest (AES-256), with zero-retention available for regulated workflows."

5 }

Security security.json
1 {

2 ··"question": "How is pricing structured?",

3

4 ··"answer": "Usage-based and predictable — no per-template fees, no retraining costs. Pricing scales linearly with volume, with enterprise tiers available."

5 }

Pricing pricing.json

how.json

1 {

2 ··"question": "How does Invofox work for bank statement OCR?",

4 ··"answer": "Documents are processed through a hybrid OCR + AI pipeline: pages are classified, layouts are detected, fields are extracted with a confidence score, and the result is validated against your schema before being delivered via API or webhook."

5 }

How it works how.json

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Bank Statement OCR for data extraction.

Unlock the power of Invofox's Bank Statement OCR.

Automate transaction extraction

Reconcile balances automatically

Multi-bank, multi-format

Underwriting-ready

Auto-categorize transactions

Multi-currency aware

Extract and verify all essential bank statement fields.

Key capabilities of Invofox.

PDF Splitter

PDF Splitter

Classifier

Classifier

Data Extraction & Verification

Data Extraction & Verification

Intelligent Parsing

Intelligent Parsing

Expert Correction

Expert Correction

Why choose Invofox over standard OCR for bank statements.

Frequently asked questions.

Other documents we can process.

Ready to see it in action?