Categoo

An application that categorizes banking transactions – Adastra’s Categoo – automatically labels every card and non-card transaction and classifies them according to predefined types. Categoo makes it possible to monitor and analyze incoming and outgoing payments for individual clients as well as specified customer segments.

Banks can gain more insight into their clients’ financial behavior.
Thanks to better information, they can make their communication more targeted, relevant and personalized.

Clients can monitor and analyze their income and expenses down to the detail of sales points. They gain a comprehensive overview of how much money they are spending and in which category.

In one of the most important Czech banks, Categoo has achieved the following results

98.5%

The application automatically categorizes to 98.5% of card operations.

2.1 million

The application automatically processes and categorizes 2.1 million transactions every day.

40% increase

The application has increased the accuracy of card-transaction categorization by 40% compared to the bank’s original solution.

Adastra’s app quickly and efficiently automates categorization for mobile and online banking

Establishes a uniform structure for all types of categories

Defines a detailed categorization tree

Establishes conventions for adding categories to the tree

Unifies the review process before adding new categories to production

Uses templates to write categorization modules - internal team members do not need to know how to code the application

Provides overall orchestration and monitors the application in both batch and real-time operations

Assigning logos to bank transactions

Clear categories, clarity and unique ability to visualize merchant logos. Not only these features of Categoo are appreciated by banks and their customers.

Card transactions

Non-card transactions

Using Categoo, various bank departments and clients can request and view data easily

Retail improve financial advisory; Marketing launch personalized campaigns; Operations automate categorization

Retail / Corporate banking enhance their financial advisory

view reports and aggregated data for specified customer segments
refine financial advice – the outputs inform banking advisors as well as automated advice to clients

Marketing launches highly personalized communication

create specific campaigns tailored to each particular client based on precise knowledge of their habits, interests, favorite communication channels, and other preferences

Operations start to automate categorization

view categories in mobile and online banking
enable customized client categorization
display results in the banking advisors’ app

Banking clients are given an immediate, clearly understandable overview

Clients create and manage their own categories in their mobile and Internet banking

gain an immediate and accurate overview of their income and expenses
can adjust their spending and investment portfolio (on their own or together with their bank's financial advisors)
increase their financial literacy and stability
can create and manage their own categories, including setting rules and defining their own personalized categorization structure

Reference

Large Czech bank automatically categorizes 98.5% of card transactions using Adastra’s app

greater number of categories assigned to non-card transactions

40%

increase in categorization accuracy for card transactions

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

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