illion StatementOCR has undergone some major software enhancements recently and we are thrilled to announce the latest release of our popular PDF statement reading service - StatementOCR v2.0. The newest version still provides lenders with our cutting-edge categorisation and analysis of bank data through a simple PDF upload. Only now it does the job even better.

The StatementOCR code base has been completely refactored and is now much more maintainable and better suited for future enhancements and our development team has worked exceptionally hard to improve the overall accuracy of our optical character recognition algorithm.

Full list of enhancements:

• Enhanced character recognition
• In addition to official bank-branded e-statements, the new version now supports the upload and analysis of Transaction Listings PDFs
• Scanned documents that are less clear than the original PDF are now supported
• We’ve doubled the list of supported institutions in Australia to include the top 21 banks
• We’ve added support for the top 7 banks in New Zealand

These improvements have not changed the PDF upload process in any way, so the user experience will be the same. Customers simply drag and drop their PDF e-Statements and Transaction Listings and StatementOCR delivers our market-leading bank data analysis for faster, smarter credit decisions.

StatementOCR v2.0 also features our sophisticated fraud detection algorithm which checks for:

• Metadata (authorship encryption)
• Document format and structure
• Data consistency (dates, balances etc)

Get in touch to find out if illion StatementOCR is right for your business.