Speed up application and verification processes with automated data extraction from bank statements.
No training needed. Set up your Bank Statement Extractor within 30 seconds and it takes only up to 8 seconds to process each statement regardless of the layouts.
FormX integrates NLP, ML, and LLM to ensure high data extraction accuracy. Moreover, we also perform pre-processing of images and post-processing of results to further increase the accuracy to minimize human intervention.
Protected by industry-leading security, FormX will not use or store any images or the extracted data to ensure data security and we work with clients to comply with local data privacy laws.
Easily integrate your Bank Statement Extractor with any app or software via a single point of API to incorporate automated data extraction into your verification or evaluation workflow.
You can choose what data fields to extract and even create custom fields for your specific use case.
FormX has a pay-per-use pricing model. You only pay for what you use and the cost depends on the volume of invoices that you have to process.
Application or verification processes often require bank statements to verify applicants’ address or evaluate their creditworthiness. See how different sectors integrate Bank Statement Extraction seamlessly into their workflows.
Step 1: Set Up Your Banks Statement Extractor
Use our pre-trained Bank Statement Extractor powered by ML and LLM and specify what items, such as account holder name, issue date, open balance, close balance, and all transactions.
Step 2: Test Bank Statement Extractor
After creating Bank Statement Extractor, you can upload sample bank statements and check the JSON output to make sure the results are accurate.
Step 3:Integrate FormX With Your Applications
Once you’re done, you can incorporate automated data extraction into your verification or application processes by integrating FormX with your software via API. If you want to get a csv file instead, you can use our Desktop APP for batch extraction.
FormX can extract all data fields needed for businesses to speed up address verification, loan approval, etc., to deliver excellent customer experience and prevent fraudulent claims.
FormX leverages the latest AI technologies to turn images of bank statements into structured data formats like JSON or CSV, which can be directly used by all kinds of applications for further processing and analysis. This helps businesses to easily digitize bank statements and save hours of tedious manual data entry and minimize human errors.
Yes, FormX can extract the information of each transaction such as the description, date, and amount.
The problem with the traditional rule-based data extraction solutions cannot process bank statements with different layouts. FormX, on the other hand, can process all bank statements regardless of their layouts since it leverages AI technologies for it to identify relevant data fields, extract them, and turn them into structured formats.
FormX provides a free trial for users to test out our features and process the first 100 pages for free. For monthly subscription, our Starter plan costs USD $299 / month, allowing you to process up to 1,000 pages. For enterprises with more documents to process, you may contact our team for more detailed discussion.
Privacy is important to us, so you have the option of disabling certain types of storage that may not be necessary for the basic functioning of the website. Blocking categories may impact your experience on the website.
