What XPndAI's bank statement AI does
Upload any Indian bank statement PDF (SBI, HDFC, ICICI, Axis, Kotak, PNB, 50+ banks) — the AI extracts every transaction, categorises it (salary/EMI/vendor/refund/transfer), flags anomalies, and exports structured JSON or CSV to your system. A 12-month statement with 500+ transactions processes in under 15 seconds. One-time build from ₹3 lakh — no per-statement fees, full source code ownership.
50+Indian bank formats supported
96%+Field extraction accuracy
<15sPer 12-month statement
₹0Per-statement SaaS fee
6–8 wkDelivery timeline
Who uses it
Built for every team that processes bank data
From NBFC underwriting to CA firm reconciliation — one custom AI, infinite use cases.
NBFCs & Lending Startups
Auto-analyse borrower bank statements for income, EMI obligations, cash flow patterns, and risk flags during loan origination. Reduce underwriting time from 2 hours to 2 minutes.
Extracts: Net monthly income, EMI burden, bounce count, salary credits
Output: Creditworthiness score JSON → LOS system
CA Firms & Accountants
Bulk-process client bank statements for GST reconciliation, TDS matching, and audit prep. Handle 200 statements in the time it takes to manually process 5.
Extracts: Vendor payments, GST-eligible transactions, TDS deductions
Output: Tally-ready CSV, category-wise summary
Finance Teams — Payment Reconciliation
Match bank credits against open invoices, flag unmatched payments, generate exception reports. Eliminate month-end close delays caused by manual reconciliation.
Matches: Bank credit ↔ Invoice amount ↔ PO reference
Reduces: Reconciliation time by 80–90%
D2C Brands & E-commerce
Reconcile COD payouts, payment gateway settlements (Razorpay, Cashfree, PayU), and marketplace payments against orders. Stop losing 1–3% revenue to untracked discrepancies.
Reconciles: Gateway settlement ↔ Order value ↔ Returns
Detects: Gateway fee overcharges, missing payouts
iGaming & Fintech Compliance
Flag suspicious transaction patterns, detect structuring (multiple small deposits), and auto-generate SAR-ready reports for AML/KYC compliance teams.
Flags: Unusual patterns, round-amount structuring, high-frequency transfers
Output: Risk score + compliance summary per account
Enterprise Accounts Payable
Auto-match vendor bank credits to approved POs, detect duplicate payments, and push matched transactions to SAP/Tally/ERP. Zero manual AP reconciliation.
Integrates with: SAP B1, Tally Prime, Zoho Books, custom ERP
Prevents: Duplicate payments, missed credits
The process
How the bank statement AI works
1
Upload PDF or API push
Upload bank statement PDFs (single or bulk), or push via API from your LOS/NBFC system. Supports password-protected PDFs.
2
OCR + bank format detection
The AI detects the bank and statement format automatically — no templates to configure. Handles 50+ Indian bank layouts.
3
Transaction extraction
Every debit and credit is extracted: date, amount, balance, narration, reference number. Accuracy: 96%+ on clean PDFs, 91%+ on scanned images.
4
LLM categorisation
The LLM categorises each transaction — salary, EMI, utility, vendor payment, cash withdrawal, transfer — based on narration and pattern recognition.
5
Reconciliation matching
For reconciliation use cases, the AI fuzzy-matches bank entries against your invoices/POs and flags unmatched items as exceptions.
6
Output to your system
Structured JSON or CSV delivered to your ERP, LOS, Google Sheet, or database. Tally-compatible export available.
Capabilities
What the AI handles
All Indian bank formats
SBI, HDFC, ICICI, Axis, Kotak, PNB, Canara, BoB, IndusInd, Yes Bank, Federal, IDFC, AU, and 40+ more — including co-op banks.
Password-protected PDFs
Supply the password via API and the system unlocks, processes, and discards the PDF — the password is never stored.
Scanned statement images
Works on photographed or scanned statements. Multi-page image bundles processed as a single statement.
Custom category taxonomy
Configure your own transaction categories (salary, rent, GST payment, loan disbursement) to match your business rules and compliance needs.
ERP / LOS integration
Push extracted data directly to Tally Prime, SAP B1, Zoho, or your custom LOS/CRM via webhook or REST API.
Cash flow analytics
Auto-compute monthly net cash flow, average monthly balance, EMI/NMI ratio, salary regularity score — ready for credit decisioning.
Anomaly & risk flagging
Flags cheque bounces, EMI defaults, large unexplained credits, round-amount structuring, and sudden balance drops for compliance review.
Multi-currency & foreign banks
Handles UAE (Emirates NBD, ADCB, FAB), UK, US, and Singapore bank statements for NRI clients and cross-border reconciliation.
How we compare
XPndAI vs off-the-shelf bank statement tools
| Criteria | XPndAI (custom build) | Perfios / Karza (SaaS) | Manual / Excel |
|---|---|---|---|
| Cost model | One-time ₹3–12 lakh | ₹5–25 per statement, monthly subscription | Staff time: ₹20,000–50,000/month |
| Source code ownership | ✓ Full source code | ✗ SaaS, no source code | N/A |
| Data residency | ✓ Your own AWS India account | Shared SaaS infrastructure | Local files (no cloud risk) |
| Custom categories | ✓ Fully configurable | Fixed output schema | Manual, error-prone |
| ERP integration | ✓ Tally, SAP, custom ERP | API output only, integration extra | Manual export/import |
| Bank formats | 50+ Indian + foreign banks | All major banks supported | Manual, one bank at a time |
| Break-even volume | ~400 statements/month vs Perfios | Per-statement fee compounds | Always expensive at scale |
Pricing
Fixed-price packages — no surprises
One-time development cost. Full source code. No per-statement fees. No annual licences.
Starter
Single format API
₹3–5 lakh
One-time · 6 weeks delivery
- 5 major bank formats (SBI, HDFC, ICICI, Axis, Kotak)
- Transaction extraction + categorisation
- JSON/CSV API output
- Basic cash flow analytics
- Source code + deployment
Most popular
Full Bank Statement AI
₹6–9 lakh
One-time · 8 weeks delivery
- 50+ Indian bank formats
- Password-protected PDF support
- Custom category taxonomy
- Anomaly + risk flagging
- ERP integration (Tally/Zoho/SAP)
- Full source code + infra config
Enterprise
Reconciliation Platform
₹10–15 lakh
One-time · 10–12 weeks
- Bank statement AI + all above
- Invoice/PO matching engine
- Exception management dashboard
- Gateway reconciliation (Razorpay, PayU)
- Multi-entity, multi-bank support
- Bulk processing (1,000+ statements/day)
FAQ
Common questions
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What is an AI bank statement analyser and how does it work?An AI bank statement analyser automatically reads PDF or image bank statements, extracts all transactions, categorises them (salary, EMI, vendor payment, refund, etc.), and exports structured data to your system. XPndAI's bank statement AI uses OCR combined with LLMs to handle all Indian bank formats — SBI, HDFC, ICICI, Axis, Kotak, and 50+ others — including password-protected PDFs. It processes a 6-month statement with 300+ transactions in under 10 seconds with 96%+ field accuracy.
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How does automated payment reconciliation software work?Automated payment reconciliation software matches bank transactions against internal records (invoices, purchase orders, ERP entries) without manual intervention. XPndAI's reconciliation AI ingests your bank statement and your accounts receivable/payable ledger, then uses fuzzy matching and rule-based logic to reconcile matches, flag mismatches, and generate exception reports. It reduces reconciliation time from days to hours for finance teams processing 500–10,000 transactions per month.
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How much does a custom AI bank statement analyser cost in India?XPndAI builds custom AI bank statement analysers starting from ₹3 lakh for a single-bank-format API up to ₹15 lakh for a multi-bank reconciliation platform with ERP integration. This is a one-time fixed-price development cost — no per-statement SaaS fees, no annual licences. Delivery in 6–10 weeks. At 400+ statements/month, the break-even vs Perfios SaaS pricing is typically within 6–8 months.
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What is the difference between XPndAI and Perfios or Karza?Perfios and Karza are SaaS platforms charging ₹5–25 per statement with fixed output schemas. XPndAI builds a custom AI solution you own outright — no per-statement fees, custom output fields, your own data pipeline, and the source code is yours. For companies processing 5,000+ statements per month, the break-even vs Perfios SaaS pricing is typically 6–8 months. After that, XPndAI's custom solution is pure cost saving.
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Is the bank statement data stored securely in India?Yes. All processing runs on AWS Mumbai (ap-south-1) or Azure India Central — data never leaves India. The pipeline operates on your own cloud account, so you are the data controller. This satisfies RBI data localisation requirements for NBFCs and fintech companies handling financial data.
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Can the AI integrate with Tally, SAP, or our custom LOS?Yes. XPndAI's bank statement analyser outputs structured JSON/CSV that feeds directly into Tally Prime (via TallyPrime API), SAP B1, Zoho Books, QuickBooks India, or any custom LOS/ERP. The integration layer is included in the project scope and the data mapping is configured during development to match your chart of accounts and data model.