Veryfi vs Dext for Bank Statement Processing: Complete 2025 Comparison
Veryfi processes bank statements in seconds with AI-only automation and 99.8% accuracy. Dext uses offshore human review teams for data extraction across 700+ banks. Both automate accounting workflows, but their approaches to speed, pricing, and processing differ fundamentally.
Veryfi: API-First OCR Platform
Veryfi is an OCR API platform that processes receipts, invoices, and bank statements using pure AI automation. The platform processes 15 million+ documents monthly with 99.8% accuracy, completing extraction in seconds with zero human intervention.
For bank statement processing specifically, Veryfi's Bank Statement OCR API reduces error rates from 5% to less than 1% with 99%+ accuracy. The system extracts transaction patterns, recurring deposits, spending behaviors, and vendor names automatically, enabling automated cash flow analysis and reconciliation.
Processing Speed
Instant extraction in seconds, no waiting for human review teams
99.8% Accuracy
Validated across 15M+ monthly documents with bank-grade security (SOC2 Type2)
API Integration
Developer-focused platform requiring custom API integration work
Custom Pricing
Volume-based API pricing, contact sales for bank statement processing costs
What Veryfi Processes
Key Limitation
Veryfi is an API platform, not a ready-to-use app. Accounting firms need developer resources to integrate the API into their workflows. No built-in client management dashboard or accounting software integrations included.
What Dext Automates
Key Limitation
Dext uses offshore human data extraction teams to process documents, which introduces processing delays compared to AI-only platforms. Per-client pricing creates scaling costs for growing accounting firms.
Dext: Complete Bookkeeping Automation
Dext (formerly Receipt Bank) is a comprehensive bookkeeping automation platform that captures, processes, and organizes receipts, invoices, and bank statements with 99.9% accuracy. The platform integrates with Xero, QuickBooks, Sage, and other accounting software to streamline entire accounting workflows.
For bank statement processing, Dext supports 700+ banks worldwide and automatically extracts transaction data into CSV format. The platform includes real-time expense tracking, customizable approval workflows, and automation rules for recurring expenses and duplicate detection.
Human + Tech Hybrid
Offshore data extraction teams process documents for accuracy verification
700+ Bank Connections
Pre-configured support for major banks worldwide with CSV export
Automation Rules
Recurring expense categorization, duplicate detection, multi-currency management
Per-Client Pricing
Subscription model based on number of clients, costs increase with firm growth
Head-to-Head Comparison
Veryfi and Dext take fundamentally different approaches to bank statement processing. Here's how they compare against Zera Books for accounting firm workflows.
| Feature | Veryfi | Dext | Zera Books |
|---|---|---|---|
| Processing Speed | Seconds (AI-only) | Variable (human review) | Instant (AI-only) |
| Accuracy | 99.8% | 99.9% | 99.6% |
| Pricing Model | Custom API pricing | Per-client subscription | $79/mo unlimited |
| Bank Support | API-based (custom) | 700+ banks | All banks (dynamic) |
| AI Categorization | Yes (AI-only) | Yes (with rules) | Yes (GAAP-trained) |
| Multi-Account Detection | Via API | Manual setup | Automatic |
| Batch Processing | API limits apply | Supported | Unlimited (50+ at once) |
| Client Management | Not included | Included | Included |
| Template Training | Not required | Not required | Not required |
| Integration | API-based | Direct integrations | Direct QuickBooks/Xero |
AI-Only vs Human Review: What It Means for Speed
Veryfi: Pure AI Processing
Veryfi processes documents in seconds using AI-only automation. Upload a bank statement, get structured data back immediately. No waiting for offshore teams to review and validate extractions.
The tradeoff: You need API integration expertise. Veryfi is a developer platform, not a ready-to-use accounting app. Building the integration, handling errors, and maintaining the connection requires technical resources.
Best for: Software companies building accounting tools, enterprises with development teams, high-volume document processing needs.
Dext: Human + Technology
Dext combines AI extraction with offshore human review teams. Documents go through automated processing, then human verification for accuracy. This hybrid approach delivers 99.9% accuracy but introduces processing delays.
The tradeoff: Processing speed varies based on review team availability. Peak periods (month-end, tax season) can create backlogs. The platform includes full accounting software integrations and client management features.
Best for: Accounting firms wanting bundled features (receipt scanning, invoice processing, expense management), teams prioritizing accuracy over speed.
Zera Books: AI Without API Complexity
Zera Books delivers Veryfi-level speed (instant AI processing) without requiring API integration. Upload statements directly in the web app, get categorized transactions back in seconds. No offshore review delays, no developer resources needed.
Custom API Pricing vs Per-Client Subscriptions
Veryfi Pricing
- Volume-based API pricing
- 10,000+ documents = volume discount
- No transparent pricing published
- API integration costs extra
Dext Pricing
- All features included
- Direct accounting integrations
- Costs increase with client growth
- Per-user fees for team access
Zera Books
- Unlimited conversions
- Unlimited clients
- AI categorization included
- No per-page or per-client fees
Volume Cost Example
A firm processing 200 bank statements per month (2,400 annually) across 30 clients faces different cost structures with each platform:
Custom API pricing (contact sales). Additional costs for integration development and maintenance. No client management tools included.
Per-client subscription model. Costs increase linearly with client growth. Bundled features (receipts, invoices) you may not need drive higher pricing.
$79/month flat fee. Process 200 or 2,000 statements - same price. No client limits, no per-page fees, no usage tracking. Predictable monthly costs.
"My clients send me all kinds of messy PDFs from different banks. This tool handles them all and saves me probably 10 hours a week."
Ashish Josan
Manager, CPA at Manning Elliott
Why CPA Firms Need More Than Generic OCR
Veryfi delivers fast API-based extraction but requires development resources to integrate. Dext bundles bank statement processing with receipt scanning and expense management - features you pay for whether you need them or not.
Zera Books focuses specifically on financial document processing (bank statements, invoices, checks, financial statements) with ready-to-use AI transaction categorization, multi-account auto-detection, and direct QuickBooks/Xero integration. No API work required, no bundled features inflating costs.
What Accounting Firms Actually Need
Document Variety
Bank statements are just one piece of month-end close. You also need to process invoices, checks, and financial statements (P&L, balance sheets, cash flow statements).
Veryfi & Dext
Focus primarily on receipts and invoices. Bank statements supported but not the platform focus.
Zera Books
Processes 4 document types: bank statements, financial statements, invoices, and checks. One platform for all financial documents.
Client Organization
Managing 30+ clients means organizing conversions by client, tracking history, and accessing past statements instantly during audits or tax prep.
Veryfi
No client management dashboard. You build this yourself via API integration.
Dext & Zera Books
Built-in client management. Organize conversions by client, track history, and access past statements in one dashboard.
Multi-Account Auto-Detection
Clients send combined PDFs with checking, savings, and credit card accounts in one file. Manually splitting these wastes 10-15 minutes per statement.
Veryfi & Dext
Manual account separation required. You handle splitting via API logic or manual configuration.
Zera Books
Automatic multi-account detection. Upload one PDF, get separate Excel files for each account detected.
Unlimited Processing
Tax season volume spikes 3-5x normal processing. Per-client or per-document pricing creates unpredictable monthly costs and usage anxiety.
Veryfi & Dext
Volume-based or per-client pricing. Costs increase during peak periods. Budget tracking required.
Zera Books
$79/month unlimited. Process 100 statements or 1,000 statements - same price. No tax season cost spikes.
The Complete Workflow Platform
AI Categorization Guide
How AI categorization saves 30-45 minutes per client during month-end close.
Bank Reconciliation Solutions
Automate reconciliation workflows with AI-matched transactions and duplicate detection.
Batch Processing Comparison
See how different platforms handle high-volume bank statement processing.
Explore more alternatives: View all bank statement converter alternatives
Ready to Process Bank Statements Without API Integration or Per-Client Fees?
Zera Books delivers Veryfi-level speed with Dext-level features, at a flat $79/month for unlimited conversions. No API work, no offshore review delays, no usage tracking.