5 Best Bank Statement Extraction Software in 2025

Managing financial data can be a time-consuming task, especially when it involves manually extracting information from bank statements. Thankfully, modern bank statement extraction software can simplify this process by automatically converting documents into structured data. In this article, we’ll cover the 5 best bank statement extraction software solutions in 2025.

1. Parsio

Parsio is a powerful, no-code document extraction tool designed to streamline data extraction from bank statements. It uses pre-trained AI models that have been trained on millions of bank statements from various banks, countries, languages, and formats, making it highly versatile and accurate. With Parsio, users can import scanned PDFs, images, and other document formats, and the AI will automatically extract data without requiring any manual configuration.

Pros:

• No-code setup, making it accessible to non-technical users.
• Utilizes pre-trained AI models, saving time and effort.
• Can process scanned PDFs and images accurately.
• Zero-configuration process; AI models are ready to use right out of the box.
• Supports multiple languages and formats.
• Offers flexible export options, including Excel, CSV, JSON, Google Sheets, and APIs.
• High level of data security, with data never used to train models.

Cons:

• May not be suitable for highly specialized or niche formats outside of standard bank statements.

Pricing: Parsio offers a free plan with limited usage. Paid plans with all features included start at $49 per month for 1,000 credits, $149 per month for 5,000 credits, and $299 per month for 12,000 credits. Yearly plans come with two months free (17% off).

2. DocuClipper

DocuClipper is another reliable tool for extracting data from bank statements. It offers a straightforward interface that allows users to upload PDFs and images and convert them into structured data, such as Excel or CSV files. The tool is particularly popular among accountants, bookkeepers, and financial analysts.

Pros:

• Simple, user-friendly interface.
• Supports bulk processing of documents.
• Provides multiple export options like Excel and CSV.
• Reasonable pricing for small businesses and freelancers.

Cons:

• Limited customization options compared to AI-based tools like Parsio.
• May require manual adjustments for complex documents.

Pricing: DocuClipper’s paid plans start at $39 per month for 200 pages (Starter plan), $74 per month for 500 pages (Professional plan) with limited features, and $159 per month for 2,000 pages (Business plan) with all features included.

3. Nanonets

Nanonets is an AI-powered document extraction tool that offers efficient bank statement data extraction capabilities. It leverages machine learning models to extract relevant data from scanned PDFs, images, and even handwritten documents. Nanonets is designed to be user-friendly and accessible, even for non-technical users.

Pros:

• AI-based extraction with high accuracy for structured and unstructured documents.
• Easy-to-use interface with drag-and-drop functionality.
• Supports custom model training for more specialized document processing.
• Can process handwritten text and low-quality scanned documents.
• Offers API integration for automated workflows.

Cons:

• Requires initial training for customized use cases.
• Pricing can be expensive.

Pricing: Nanonets is one of the most expensive software solutions, with plans starting at around $499 per month.

4. Docsumo

Docsumo is a smart document processing tool designed to automate data extraction from various financial documents, including bank statements. It uses deep learning models to accurately extract data from scanned and digital documents, providing structured outputs suitable for financial analysis and reporting.

Pros:

• Robust AI-powered extraction for complex document formats.
• Can extract data from tables, invoices, bank statements, and more.
• Offers batch processing and real-time extraction.
• API integration allows seamless integration into existing workflows.
• Provides validation and error correction capabilities.

Cons:

• Requires some initial setup and configuration.
• Pricing may not be suitable for smaller businesses.

Pricing: Paid plans start at $299 per month (Starter), $799 per month (Growth), and $2,499 per month (Business), depending on the features and volume of processing required.

5. Klippa DocHorizon

Klippa DocHorizon is an AI-powered Intelligent Document Processing (IDP) solution designed to automate the extraction, classification, conversion, and verification of data from various financial documents, including bank statements. By leveraging advanced Optical Character Recognition (OCR) technology and machine learning algorithms, Klippa DocHorizon aims to streamline financial workflows and reduce manual data entry.

Pros:

• High accuracy, with data extraction accuracy rates of up to 99%.
• User-friendly interface with drag-and-drop functionality.
• Supports processing of over 100 different document types in more than 150 languages.
• Integration capabilities with over 75 business applications like Google Drive, OneDrive, Xero, and Salesforce.
• Advanced features such as fraud detection, data anonymization, and real-time data synchronization.

Cons:

• May require technical knowledge for API and webhook implementation.
• Focused on data extraction and processing, lacking document generation features.
• No built-in e-signature tool, requiring third-party solutions if needed.

Pricing: Klippa DocHorizon’s pricing is not publicly available and depends on multiple factors. To receive a personalized pricing quote, users need to fill out a request form.

Conclusion

Choosing the right bank statement extraction software depends on your business needs, budget, and technical requirements. Parsio stands out for its user-friendly, no-code setup and pre-trained AI models that can handle a wide variety of document formats. DocuClipper offers an affordable and straightforward solution for small businesses. Nanonets and Docsumo cater to those needing more robust AI-powered extraction capabilities, while Klippa DocHorizon offers excellent integration and advanced features for larger enterprises. Ultimately, each tool provides valuable features to simplify and automate financial data extraction in 2025.

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