Your gateway to more insights and impact
Categorisation by Qwist
Qwist’s Data Categorisation engine is designed to convert raw transaction data into actionable insights. The data is sorted into about 21 main categories with over 100 subcategories for retail use cases.
Efficiently organizing end-users’ financial data within a broader context
Challenges in efficiently organising and comprehending end-users’ financial data within the broader context, pose business risks and hinder the end-user experience by relying on traditional methods that are time-consuming and prone to errors.
Transforming raw transaction data into actionable insights
“Data is the new oil” – but just as you first have to refine oil to make something useful out of it, you also have to process raw data first: Our Data Categorisation engine is designed to transform raw transaction data into actionable insights which provides customers with a new dimension of understanding end user behaviors and spending patterns. Besides transaction categorisation and payment partner detection, we also analyze the full transaction history of the user for regular spending patterns in our Contract Recognition Service.
Purposeful classification
Our engine employs advanced algorithms to systematically categorise financial transactions based on their purpose. This classification is about unveiling the story behind each transaction, revealing the underlying motivations and behaviors.
Improve User Experience through real-time agility
Our enrichment products ensure that your data is updated promptly, enabling you to respond swiftly to evolving trends and customer preferences. These insights improve user experience and help build stronger relationships with your customers.
Fraud detection & security
Transaction Categorisation plays a crucial role in identifying fraudulent activities and enhancing security measures. By accurately categorising transactions, banks and fintechs can detect anomalies and flag suspicious or unauthorised activities.
Data-driven decision making
Aggregated and categorised transaction data can be analysed to identify market trends, consumer behavior patterns, and emerging opportunities. Data-driven decision-making helps financial institutions to stay competitive in the rapidly evolving fintech landscape.
How the Categorisation works
Systematic classification and organisation of financial transactions
Categorisation is a pivotal element for a broad spectrum of use cases, providing financial institutions, including banks and fintechs, with valuable insights into end-users’ spending patterns and behaviors. It involves the systematic classification and organisation of financial transactions based on their specific attributes, enabling the aggregation and analysis of data for various purposes.
Categorisation
Tech Documentation
- Categorize transactions
- Get Category Tree
Demo Categorisation
Still have questions about our Categorisation? Please contact us and we will happily provide you with advice!
Existing customer requests
We kindly ask our existing customers to use the Zendesk Support Portal, which you received during your onboarding, if you have support queries or need to talk to us. Thank you very much!