Your OCR is Leaking Value: Why AI is the Only Way to Truly Read a Bank Statement
For years, Optical Character Recognition (OCR) has been the workhorse of document digitization. It was a revolutionary step forward, freeing us from the drudgery of manual data entry by turning scanned images into machine-readable text. But in the high-stakes world of financial analysis and lending, we've hit the ceiling of what OCR can do. When it comes to a document as nuanced and critical as a bank statement, simply 'reading' the text is not enough. OCR extracts characters; it doesn't provide understanding. This is where it fails, and where a new generation of AI is fundamentally changing the game.
2025-07-05
