Improved Personalized Categorization Algorithm | Salt Edge

Salt Edge enhances the automatic financial transaction categorization engine by adding a personal touch to it.

December 9, 2015 – Salt Edge Inc. brings forth a new improvement to its automatic financial transaction categorization engine. The enhanced Salt Edge Categorizer learns to categorize transactions according to users’ preferences and needs. Even though this update does not affect the overall categorization accuracy, it will bring the precision of the transaction categorization for each particular user up to 100%. With the latest update, the end-users teach the Categorizer to set their preferred categories for specific transactions. By selecting a particular category for certain transaction several times the user shows the engine that this is the category to be used for any such further transactions. “At Salt Edge, we strongly believe that users themselves know what works best for them, and we could learn from them to accommodate their needs. Therefore, we have implemented an algorithm that enhances the learning capability of our software and allows users to achieve up to 100% accurate transaction categorization,” says Salt Edge Inc. CEO Dmitrii Barbasura. The Salt Edge Categorizer is a multilingual tool that allows users all over the world to receive accurate categorization results. It understands transaction description in languages not only based on the Latin alphabet but also Cyrillic, Arabic, Chinese, etc. as well, which makes the categorization process truly international.

About Salt Edge Inc.

Salt Edge Inc. is a Canadian company that specializes in developing cutting-edge Financial Software. Using the Data Aggregation and White Label solutions, it allows mobile and web developers, as well as financial institutions, to improve their financial applications and deliver outstanding customer experience. More detailed information about the company and its services can be found at www.saltedge.com.

Salt Edge report

Discover what is the current state of open banking in Europe

Download now

Related articles

3 min read Sep 2018

Salt Edge enables Yolt to connect its users to more than 3,000 banks

Yolt, the smart money app, has started using the Salt Edge API with the goal of expanding the finance management horizons of its users. Salt Edge announced today a collaboration with Yolt, the reason for that being Salt Edge’s financial data aggregation API. It collects and aggregates, with users’ consent,…

2 min read Jul 2016

Salt Edge welcomes Chip Financial Ltd in its startup program | Salt Edge

Salt Edge’s agreement with the UK based FinTech startup Chip Financial regulates the use of Spectre data aggregation API to provide for the money-saving app’s effective performance. July 1, 2016 – Chip Financial is in the process of implementing Spectre API within the final developmental stages of its automated assistant that…

3 min read Feb 2018

Speaking at the GDPR & PSD2 Forum | Salt Edge

Salt Edge Inc. will be showcasing how banks can become PSD2 compliant in the span of a month at the “PSD2 & GDPR Forum” on the 19-20th of February, at Park Plaza Victoria in Amsterdam. February 14th, 2018 – Salt Edge is happy to announce that its Business Development Officer,…

5 min read Apr 2018

Priora PSD2 & Open Banking Solution demo at Finovate Europe ‘18 | Salt Edge

Salt Edge Inc. showcased the very first live demo of its PSD2 & Open Banking Solution integrated in Norvik Banka. April 6th, 2018 – On the 7th of Match, the second day of Finovate Europe 2018, the ExCel Center hosted 1400+ senior fintech attendees, 300+ major financial institutions representatives, and…