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Categoo

Automatic transaction categorization

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.

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

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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

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Establishes a uniform structure for all types of categories

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Defines a detailed categorization tree

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Establishes conventions for adding categories to the tree

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Unifies the review process before adding new categories to production

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

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

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

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  • 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

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  • 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

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  • 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

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  • 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

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2x

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

Are you interested in automatically categorizing card and non-card banking transactions? Please complete the form below.

Thank you

We will contact you as soon as possible.

Dagmar Bínová

Big Data & Data Science Team Lead

Radek Nevyhoštěný

Data scientist