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CATEGORIZE ACCOUNT TRANSACTIONS
Intelligent API for PFM and revenue categorization
Financial Assistant, Financial Manager, Financial Planner or Personal Finance Manager – there are all sorts of names for financial tools that provide an overview of finances. But the tools have one thing in common: if they are to work properly, they need account data to work on and a reliable automated sorting of transactions into different categories.
The finAPI add-ons for account transaction categorization and PFM offer you exactly that, providing customers and users with a convenient way to monitor, analyze and plan their finances.
CATEGORIZATION ADD-ON
Categorize account transactions easily - with the Categorization Add-on
You can use our Categorization Add-on as a product extension of the banking API finAPI Access. All account turnovers are categorized into different categories with numerous subcategories, e.g.:
- Income
- Rent & living
- Living expenses
- Mobility
- Banking & credit
- Savings & investments
- Children
- Leisure & hobbies
- Insurance
- Health & wellness
- Shopping & entertainment
- Travel
Personal Finance Management Add-on
Do you need more? Then you need our PFM Add-on.
Complex applications require additional or very individual categories as well as further options for graphic display, labeling or extended search functions. With the PFM extension to our banking API, you get the perfect complement to the Categorization Add-on. It offers a range of additional services and functions to create customized PFM solutions for a truly personal finance manager.
Customized categories
Our PFM add-on gives you and also your customers the possibility to create their own individual categories. Imagine your company is creating a finance app for its customers. You can create new categories for this app, but each individual user of the app can also create categories for themselves – resulting in an individually customized app.
Data for payment overview by category over time
Many users find out it is easier to understand their finances if they are displayed as graphics. No problem. Income and expenses can be displayed grouped by revenue category over time. Customers can call up graphs to view account balance history, the status of individual budgets, or their progress towards reaching a savings goal.
Labeling and splitting of transactions
With the banking API PFM Add-on you can split transactions into sub-transactions and assign them to different categories. You can also add notes or labels to individual transactions, and then search for terms in the text that you have entered.
Netting out and advanced search functions
Netting out revenues and expenses is possible both in total and within a single category. And the advanced search feature provides the ability to search for transaction details, categories and labels in account transactions.
Machine learning systems for best results
The entire categorization system is based on community rules. It is designed to continuously learn categorization rules based on user interactions (manually categorizing or changing a revenue category), allowing it to identify new rules and further optimize existing ones.
REFERENCES
API for PFM and categorization: Customer success stories
Many customers already use our Categorization and PFM Add-ons. In these success stories of our customers, we show the applications that have been developed by using these add-ons.
The Sparkasse Bremen finance app was developed especially for end customers. The app analyzes account data, offers individual categorization, and so supports customers in optimizing their finances.
Liquidity planning often presents companies with a challenge. Relief is provided by a liquidity planning tool in which business accounts are analyzed and transactions are categorized using PFM.