Process financial documents using Amazon Bedrock Data Automation | Amazon Web Services
Financial institutions process thousands of documents daily, including tax forms, loan statements, and purchase orders. Each has a unique format, structure, and field names, making it challenging to create automation workflows using optical character recognition (OCR) software. Amazon Bedrock Data Automation (BDA) helps solve these challenges by automating the extraction, validation, and analysis of data from financial documents. BDA goes beyond simple OCR by using foundation models that can:
- Understand document context
- Recognize relationships between different sections
- Extract structured, actionable data
- Validate information across multiple sources
While foundation models like Anthropic Claude can extract content from PDFs, Amazon Bedrock Data Automation offers custom extractions with industry-leading accuracy at a lower cost, along with features such as visual grounding with confidence scores for explainability and built-in hallucination mitigation.
In this post, we explore how Amazon Bedrock Data Automation can accurately extract information from four common types of financial documents: bank statements,...
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