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Xebia Solutions

Transaction Categorization Engine – Powered by Gen AI

Meet large language model based AI that powers your financial insights, categorizes transactions in real-time, and gives your customers a simplistic view of money movement

Accelerate Your Digital Transformation Journey with Xebia's Transaction Categorization Engine

Xebia's Transaction Categorization Engine, fueled by generative AI, revolutionizes financial transaction analysis at scale. Its precision knows no bounds, effortlessly handling diverse types of sources, currencies, languages, and formats in real-time. Bid farewell to inaccuracies and non-scalability, as this cutting-edge solution enriches data, empowering platforms like Personal Financial Management (PFM) and Offer Recommendation systems.
Seamlessly integrated with Xebia's other solutions like PFM, Carbon Footprint Calculator and Real-Time Experience Engine, it forges an unparalleled ecosystem. At the forefront of finance's digital revolution, it stands tall, showcasing remarkable adaptability across diverse core banking platforms.

Technologies Used

The engine is built on new-age tech stack comprising of GPT3.5 Turbo, LLaMa 2 (Open source LLM), Language Processing Transformers, Kafka, KSQL (streams and tables) and Python.

Installation Process

The engine is deployable on cloud environments or on-premise and is available as a subscription model.

Cloud

Our Transaction Categorization Engine is a solution that can run on AWS, GCP, Azure and on-premise environment. It leverages the best practices and features of each platform to deliver a robust, and secure service.

Why Choose Xebia’s Transaction Categorization Engine?

  • Real-time Classification - Our engine uses real-time streaming platforms to enable real-time classification of transactions and supports batch mode categorization as well.
  • Comprehensive Categorization - Apart from deriving the type of categories, it also derives the merchant’s name, purpose (category) and location of the transaction.
  • Embedded Generative AI - The use of large language models (LLM) widens our categorization coverage and solves cold start problems across multiple geographies, thus enabling faster adoption. 
  • Contextual Recommendations - A better understanding of the context and patterns in users' transactions helps recommendation systems to generate personalized recommendations for financial products, services, or offers.  
  • Category Adaptive to Your Needs - You can easily customize and refine the category and its granularities according to your needs and preferences.
  • Reversal and Refund Transaction Linkage - Linking reversal and refund with the original transactions based on transaction pattern simplifies tracking of money movement.
  • Enterprise Ready - It allows master data management, and role-based access control. 

     

Key Metrics

5000+ Transactions per Second (Load Tested)

50+ Categories & Sub-Categories 

1.5 Million+ Merchant Master Database (Powered by Generative AI)

See it in Action

  • Transaction Enrichment: Our Transaction Categorization Engine is an innovative solution empowering business and individuals to effortlessly monitor and control their finances. It offers comprehensive income and expense tracking across diverse categories like groceries, utilities, and entertainment. Furthermore, it excels in identifying and highlighting both recurring and irregular transactions, providing users with an exceptional level of financial insight.

Merchant Categorization-1

  • Spend Analytics: Leverage our cutting-edge Transaction Categorization Engine to analyze spending patterns across diverse expense categories and identify cost-saving opportunities, optimize budgets, and make data-driven financial decisions. 
  • Carbon Insights: Our Transaction Categorization Engine powers the carbon calculator which gives your customers the ability to measure the carbon impact of their financial transactions and take actions to offset it.
  •  Budgeting and Intelligent Savings: Empower financial planning with our Transaction Categorization Engine. Categorize transactions, create personalized budgets, and track progress towards financial goals, promoting stability and informed spending decisions.
  • Loyalty and Charges: Boost customer loyalty and revenue growth by leveraging our Transaction Categorization Engine. Understand customer preferences, target loyalty programs to specific merchants and transaction categories, and enhance customer satisfaction while driving engagement and maximizing revenue.
  • Family Tree:  Optimize family financial management and achieve shared financial goals. Map transactions across family members, gain insights into household expenses, and help customers make informed decisions to improve spending patterns and financial outcomes at a family level.
  • Payment Patterns: Utilize our Transaction Categorization Engine to uncover payment patterns and trends within your transactions. Gain insights into recurring and regular payments, receive recommendations for setting up Standing Instructions (SI), and stay informed about upcoming due dates, enabling customers to optimize their payment management and enhance financial planning.
  • Merchant Offers: Our engine will help you to deliver targeted offers and gain insights into customer preferences, spending patterns, and purchasing behavior. Enhance customer engagement, target marketing efforts effectively, and form strategic partnerships to drive revenue growth. 
  • Proactive Servicing: Anticipate and meet customer needs by categorizing transactions and leveraging the data. Personalize interactions, proactively address customer requirements, and enhance overall satisfaction by using our Transaction Categorization Engine.
  • Customer Lifecycle: Enhance customer lifecycle management through categorized transactions, enabling identification of touchpoints and personalized experiences. Implement retention strategies, drive loyalty, and maximize customer lifetime value based on comprehensive insights derived from transaction analysis.
  • Cross Sell/Up Sell: Drive revenue growth and customer loyalty by using the Transaction Categorization Engine to identify cross-selling and upselling opportunities. Understand customer purchase behavior, deliver personalized recommendations, and offer tailored products or services that enhance customer satisfaction and drive sales.
  • Risk Analytics: Optimize credit risk management by analyzing categorized transaction data to gain insights into potential credit risks, improve compliance measures, and enhance overall credit risk assessment and management strategies.

Questions?

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