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What is Bank Statement Data Extraction?
Raapyd bank statement data extraction applies AI-driven processing to reduce manual effort and deliver structured financial data with consistency and speed.
Automated Data Extraction
Extract line-item data, account numbers, balances, and transactions automatically from all bank statement formats.
Dual Accuracy Checks
Validation rules confirm extracted values, while low-confidence records are isolated for follow-up review.
Faster Decision-Making
Transaction data becomes usable earlier in downstream reconciliation, analysis, and reporting processes.
Bank Statement Data Extraction process
Raapyd processes bank statements through ingestion, classification, extraction, validation, and preparation for financial system consumption.
Bank Statement Data Extraction with Measurable Results
80%
Reduction in manual review effort by isolating only exception-based records.
90%
Faster bank statement data availability through automated extraction and structuring.
99%
Consistency in extracted field accuracy across supported statement formats.
80%
Reduction in manual review effort by isolating only exception-based records.
90%
Faster bank statement data availability through automated extraction and structuring.
99%
Consistency in extracted field accuracy across supported statement formats.
Streamline bank statement data processing, reduce errors, and accelerate financial decision-making with Raapyd automation.
Benefits of Raapyd Bank Statement Automation
Improve financial efficiency and accuracy by automating bank statement data extraction and processing workflows.
Speed & Efficiency
Process statements rapidly, reducing cycle time and accelerating reconciliation and reporting activities.
Accuracy
Achieve 99%+ extraction accuracy, minimizing errors and ensuring reliable financial data for analysis.
Reduced Manual Review
Minimize human intervention through dual-layer verification, lowering operational workload significantly.
Actionable Insights
Generate structured financial insights directly from statements for informed decision-making.
Scalable & Flexible
Handle increasing volumes of statements without affecting performance or accuracy across multiple accounts.
ERP Integration
Post processed bank statement data directly into ERP systems for seamless accounting and reporting workflows.
Frequently asked questions
What formats are supported? +
Supports PDFs, images, Excel files, and other common formats for automated bank statement data processing.
How accurate is AI extraction? +
AI extraction achieves over 99% accuracy using dual-layer validation and automated data checks.
Can it handle high volumes? +
Yes, the solution scales to process large volumes of bank statements without compromising speed or accuracy.
How quickly can I implement it? +
Implementation can be completed in a few weeks depending on integration requirements and document volume.
Does it integrate with finance systems? +
Fully integrates with ERP and finance platforms for automated posting and reconciliation of extracted data.
Automate Bank Statement Processing with Raapyd
Extract, validate, and analyze statement data efficiently with AI-driven automation for faster workflows.