Bank Statements OCR API

Unleash financial intelligence: Veryfi AI transforms raw bank statements into actionable insights for smarter lending, tax compliance, fraud detection, and beyond.

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Bank Statements OCR API for Data Extraction

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What is Bank Statements OCR API?

Bank statements are official financial records issued by banks, detailing account transactions over a specific period. These documents typically list deposits, withdrawals, fees, and balance information. Bank Statement OCR (Optical Character Recognition) API from Veryfi is a powerful AI tool that automates the extraction and digitization of data from these statements into structure JSON data format for any language and currency. This API leverages advanced machine learning algorithms to accurately read, interpret, and convert the printed or handwritten text on bank statements into machine-readable data.

Veryfi’s Bank Statement OCR API revolutionizes financial management, slashing processing time by up to 80% and reducing error rates from 5% to less than 1%. It accelerates account reconciliation, transforming a 3-hour task into a 15-minute process. The technology unveils spending patterns across thousands of transactions and fortifies budget planning with 99% accuracy. Veryfi not only optimizes operations but also unlocks deeper financial analysis, addressing critical needs for the 60% of businesses struggling with manual data entry.

Request: Bank Statement Data Extraction

import requests

url = "https://api.veryfi.com/api/v8/partner/bank-statements"

headers = {

'CLIENT-ID': '<API_KEY_VALUE>',

'AUTHORIZATION': '<API_KEY_VALUE>'

}

payload = {'file_url': 'https://cdn…'}

response = requests.post(url, headers=headers, data=payload)

print(response.json())

Response: Structured JSON

{

“account_holder_name”: “Mr Robot”,

“account_holder_address”: “210 S B St, San Mateo, CA 94401”,

“bank_name”: “The Royal Bank of Scotland”,

“account_number”: “1111111”,

“routing_number”: “16-10-00”,

“beginning_balance”: 1803.90,

“ending_balance”: 300.20,

“currency_code”: “GBP”,

“transactions”: [

{

“date”: “2013-10-22 00:00:00”,

“description”: “AUTOMATED PAY IN 650274051211-CHB”,

“debit_amount”: 190.40,

“balance”: 1803.90

{

“date”: “2013-12-21 00:00:00”,

“description”: “DVLA”,

“debit_amount”: 280.00,

“balance”: 2548.14

}

]

}