Basiq’s new and improved expense categorisation model
We’ve retrained our powerful expense categorisation engine to provide +90% coverage and accuracy across merchants in Australia and New Zealand.
Part 2: Expense categorisation across Basiq products
Basiq’s categorisation engine uses multiple sources to categorise and enrich transaction banking data with multiple attributes. To provide industry standard categorisation of expense transactions we use Australia Bureau of Statistics (ABS).
Part 1: What is expense categorisation?
Our powerful categorisation engine takes bank transactions which are typically noisy and difficult to categorise and return a result providing context and accuracy to the data. Use this to gain valuable insights into spending patterns and create better solutions for your customers.
Retrieve financial data in under a second
We understand that performance is really important to you and we are always looking for ways to deliver financial data faster.
Negotiate better rates: use mortgage account details to help your customers
We have added the ability to return more details about mortgages. Identify details interest rate your customer is paying, fixed rate or variable, interest only or principal, payment frequency and much more.
Super fund data for your customers
We added Superannuation to our list of supported institution types adding support for 7 new Super Funds.
Faster, secure and easier on-boarding
We’re excited the announce our new UI control which enables your users to securely share their data with your app.
