Information Extraction from Text Intensive and Visually Rich Banking Documents

Oral B., Emekligil E., Arslan S., Eryiğit G.

INFORMATION PROCESSING & MANAGEMENT, vol.57, no.6, 2020 (SCI-Expanded) identifier identifier

  • Publication Type: Article / Article
  • Volume: 57 Issue: 6
  • Publication Date: 2020
  • Doi Number: 10.1016/j.ipm.2020.102361
  • Journal Indexes: Science Citation Index Expanded (SCI-EXPANDED), Social Sciences Citation Index (SSCI), Scopus, FRANCIS, ABI/INFORM, Applied Science & Technology Source, Business Source Elite, Business Source Premier, Compendex, Computer & Applied Sciences, EBSCO Education Source, Education Abstracts, Information Science and Technology Abstracts, INSPEC, Library and Information Science Abstracts, Library Literature and Information Science, Linguistics & Language Behavior Abstracts, MLA - Modern Language Association Database, zbMATH, Library, Information Science & Technology Abstracts (LISTA)
  • Keywords: Information Extraction, Banking Documents, Deep Learning, Visually Rich Documents, Text Intensive Documents, Named Entity Recognition, Relation Extraction, NLP in Finance, NAMED ENTITY RECOGNITION
  • Istanbul Technical University Affiliated: Yes


Document types, where visual and textual information plays an important role in their analysis and understanding, pose a new and attractive area for information extraction research. Although cheques, invoices, and receipts have been studied in some previous multi-modal studies, banking documents present an unexplored area due to the naturalness of the text they possess in addition to their visual richness. This article presents the first study which uses visual and textual information for deep-learning based information extraction on text-intensive and visually rich scanned documents which are, in this instance, unstructured banking documents, or more precisely, money transfer orders. The impact of using different neural word representations (i.e., FastText, ELMo, and BERT) on IE subtasks (namely, named entity recognition and relation extraction stages), positional features of words on document images and auxiliary learning with some other tasks are investigated. The article proposes a new relation extraction algorithm based on graph factorization to solve the complex relation extraction problem where the relations within documents are n-ary, nested, document-level, and previously indeterminate in quantity. Our experiments revealed that the use of deep learning algorithms yielded around 10 percentage points improvement on the IE sub-tasks. The inclusion of word positional features yielded around 3 percentage points of improvement in some specific information fields. Similarly, our auxiliary learning experiments yielded around 2 percentage points of improvement on some information fields associated with the specific transaction type detected by our auxiliary task. The integration of the information extraction system into a real banking environment reduced cycle times substantially. When compared to the manual workflow, document processing pipeline shortened book-to-book money transfers to 10 minutes (from 29 min.) and electronic fund transfers (EFT) to 17 minutes (from 41 min.) respectively.