Converting bank statements into JSON format offers a streamlined approach for developers to integrate financial data into applications, enhancing functionalities such as expense tracking, mortgage processing, and report generation. JSON's compatibility with most modern programming languages makes it a favored data exchange format for web services and APIs. Nanonets provides a free tool that facilitates this conversion process, allowing users to upload, convert, and verify bank statements, and then obtain the JSON output. Additionally, Nanonets offers the capability to automate this conversion workflow, making it easier to integrate bank statement data into software applications efficiently.