The latest articles on DEV Community by Nitesh Kumar Singh (@nitesh_kumarsingh_edf351). https://dev.to/nitesh_kumarsingh_edf351 https://media2.dev.to/dynamic/image/width=90,height=90,fit=cover,gravity=auto,format=auto/https:%2F%2Fdev-to-uploads.s3.us-east-2.amazonaws.com%2Fuploads%2Fuser%2Fprofile_image%2F2664577%2Ff8bcbbea-e50f-4f6f-9871-8419ba577f23.jpg https://dev.to/nitesh_kumarsingh_edf351 en Nitesh Kumar Singh Fri, 13 Nov 2026 06:08:05 +0000 https://dev.to/nitesh_kumarsingh_edf351/how-im-building-an-ai-powered-bank-statement-analyzer-with-python-33jd https://dev.to/nitesh_kumarsingh_edf351/how-im-building-an-ai-powered-bank-statement-analyzer-with-python-33jd <p>Hi everyone! 👋</p> <p>I'm a Python developer with 12+ years of experience in backend engineering. Recently, I started building my own SaaS product called <strong><a href="https://statementiq.in/" rel="noopener noreferrer">StatementIQ</a></strong> to simplify bank statement analysis using AI.</p> <p>When I started working on this, I quickly realized that analyzing bank statements in production is much harder than just extracting raw text from a PDF. </p> <h2> The Real-World Engineering Challenges </h2> <p>Building a reliable parser means handling messy edge cases:</p> <ul> <li> <strong>Inconsistent Formats:</strong> Every bank has a completely different layout, multi-line descriptions, and column structure.</li> <li> <strong>Locked &amp; Scanned Files:</strong> Handling password-protected PDFs alongside OCR fallbacks for scanned copies.</li> <li> <strong>Transaction Categorization &amp; Insights:</strong> Accurately identifying salaries, EMIs, recurring expenses, and cashflow patterns without hallucinating numbers.</li> <li> <strong>Scale &amp; Determinism:</strong> Processing large multi-page financial statements quickly while keeping the output strictly structured (JSON) and reliable.</li> </ul> <h2> Under the Hood (Tech Stack &amp; Learnings) </h2> <p>My goal is to build a production-grade tool, not just another wrapper or demo project. Through this journey, I'm diving deep into:</p> <ul> <li> <strong>Backend &amp; Data Processing:</strong> Python (FastAPI/Django), PostgreSQL, and asynchronous task queues for handling heavy files.</li> <li> <strong>AI &amp; LLMs:</strong> Combining deterministic rule-based parsing with LLMs (including self-hosted models via Ollama) for fallback column mapping and categorization.</li> </ul> <p>I'm actively improving the product and shipping new features step by step. You can check out the live project here: 👉 <strong><a href="https://statementiq.in/" rel="noopener noreferrer">StatementIQ</a></strong></p> <p>I’d love to connect with fellow Python developers, AI engineers, and anyone building in the FinTech space!</p> <p><strong>Question for the community:</strong><br><br> When building real-world AI applications on messy documents, what has been your biggest bottleneck—<strong>data quality, accuracy, or latency/performance</strong>?</p> <p>Thanks for reading!<br><br> — <strong>Nitesh Kumar Singh</strong> (<a href="https://nkscoder.in/" rel="noopener noreferrer">Portfolio</a>)</p> backend python saas startup