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  • Writer's pictureBarbara Steinberg

U.S. Bank Statements are Crazy

Financial Fraud Investigators: What is it with U.S. Bank Statements that makes them so hard to automate?

I have been converting bank statements to Excel for 10 years. I have seen many software applications that claim to convert scanned images of bank statements into Excel as if it is nothing.

They may work on non-U.S. statements that are lined up in nice columns and look the same from page to page. Even after thousands of U.S. banks have closed or been acquired, we still have over 4,000 national, regional and local banks. And most of them use their own format.

They may separate credits, debits, checks and balances into separate tables on the same page. Some of the tables are vertical, some are horizontal and others a combination of both. Each page is different.

If your case goes back several years, it gets worse. Banks acquire or merge with other banks; they change formats over time. I can show you a dozen different Bank of America formats!

Currently, using a combination of brain power and software, I offer the best path to a 100% accurate solution. Either as a "done for you" service or providing you with the software, I can help you convert your bank statements efficiently, accurately and securely.

Coming next: The hoopla about AI and Machine Learning and why it does not work for this application.

Barbara Steinberg

(239) 842-8224

#financialfraud #fraudinvestigation #whitecollarcrime

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