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Transaction Categorisation

A global transaction categorisation engine for Open Banking growth.

 
 

Transaction Categorisation

A global transaction categorisation engine for Open Banking growth

Identify income, liabilities and 100+ other transaction categories. Built for global banks, lenders, brands and fintechs.

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Trusted by innovators

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How it works

Our transaction categorisation engine recognises the type and purpose of a transaction based on its description, transaction amount, date and contextual metadata.

Combining prediction algorithms with experts’ know-how, the engine outperforms both manual bank-statement analysis done by credit specialists (eliminates human error and optimises the time consumption) and traditional PFM categorisation engines (lowers the error rate).

Supported across all countries where account data aggregation is available.

 

Why use it?

 

Precise transaction categorisation provides data teams with high quality data for analytics.

The output is easily customisable, allowing it to be tailored for specific internal or regulatory requirements.

The granularity of the category database caters to a broad range of applications.

 

What our customers say

 
We know how complex and expensive it is to build and maintain a categorisation engine internally so we use Nordigen to help us extract value from account data and apply the insights it provides in our applicant screening processes.
— - Juris Pūce, TF Bank Country Manager for Latvia.
 
 

Example

 

The transaction output provides transaction category type identification for credit and deposit accounts from global financial businesses. The engine recognises income, liabilities and 100+ other transaction categories.

{ "date": "2016-04-06", "partner": "Uber", "info": "AGREEMENT A985134", "sum": 500.00, "category": "Income from gig economy"} Output example:
 

How can we help you grow?