Automatic categorization for 98.5% of card transactions

increase of categories assigned to card transactions

the accuracy of categorization for card operations has increased

With millions of clients conducting millions of operations every day, the bank needed to automatically assign a unique category to every banking transaction (card as well as non-card).

That’s why we developed an application that consolidates all types of categories into one structure, i.e., a single categorization tree.

  • The application automatically categorizes 2.1 million banking transactions every day.
  • Currently, 25 different Advanced Analytics and Data Science models are used in the bank to categorize primarily non-card transactions.

Categorization contributes to a better understanding of financial behavior.

  • The banka (retail, marketing, operations)
    • Obtains reports and aggregated data for the customer segments being monitored
    • Better targets and personalizes communication with customers
    • Uses categorization as a basis for banking advisors and automated advice services 
  • The client
    • Gains an accurate overview of their income and expenses
    • Can independently create and manage their own categories
    • Acquires a clear and unambiguous resource for adjusting their expenses and investment portfolio
    • Increases their financial literacy and stability

Case Studies

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