Categorization Model

Input:
The model receives transaction details like amount, description, and merchant name.

Processing:
Advanced analysis techniques used to determine the most relevant category and sub-category for the transaction.

Recategorization:
Users and banks can update the transaction categorization.

Output:
Final transaction category and sub-category for insights and other products to use, including budgeting and expense tracking.

Overview

Text Analysis Phase
The first part is the text analysis- where we are trying to find some keywords in the description that can lead us to the relevant category.

Managed Counterparties Matching Phase
Then the next phase is similar to the counterparty flow, where we are using Personetics data assets, the managed counterparties list to match to the transaction counterparty and other details and get the correct category.

Personetics Dynamic Processing Phase
And the last stage is considering all the transaction data that was collected from previous stages and preform a dynamic decision process to choose the best category and sub-category.

And in the end we will get the final category and sub category for the transaction, which will be used across the Personetics system, thorough insights, budgets calculations, and so on.

EB Recategorization

External Categorization Support

External Categorization - the bank categorization provided on the transaction data, using an external vendor.
The system supports the utilization and display of the external categorization.