Bank Statement Transcription

Assivo utilizes advanced OCR and database technology to streamline bank statement transcription for both paper and PDF formats, consolidating all statement data for accurate reporting.

Many banks still issue traditional paper statements, as they are easier to track and align with existing processes. However, this reliance on paper creates challenges for financial companies managing thousands of transactions, necessitating efficient recording and accurate accounting to maintain budgets and monitor for fraud.

While statements are sent in hard copy, most institutions rely on digital systems that require manual input, making accuracy in transcription essential. Errors can lead to significant reporting issues and wasted time correcting mistakes. Companies often struggle by reallocating staff who lack specialization in this time-consuming task.

Assivo enhances bank statement transcription with outsourced teams that provide reliable, quick data entry. Leveraging OCR technology, we efficiently scan and extract key information from paper and PDF statements. We can integrate with existing client systems or develop new workflows for reliable data input, ensuring all relevant information is precise and accurate.