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 payments in Europe in 2021

Download now

Related articles

3 min read Oct 2017

Authenticator App Released | Salt Edge

On the 6th of October Salt Edge has launched an SCA compliant Authenticator App. October 19th, 2017 – According to the requirements of the SCA, the customer’s identity must be verified by two or more authentication methods: Knowledge, Possession, and/or Inherence. Electronic remote transactions require an additional layer to the…

2 min read Jan 2019

Salt Edge will be showcasing a new round of Open Banking services at FinovateEurope 2019

With FinovateEurope right around the corner, Salt Edge is preparing to present on stage its latest PSD2-related innovative services on February 13 in London. Each year, for over 10 editions, FinovateEurope has been maintaining its first-rate event status. This time, it brings together 1200+ senior-level attendees, 65+ firms demoing on stage,…

2 min read May 2016

Personal Finance Management for CashTrack | Salt Edge

CashTrack and Salt Edge have signed an agreement to offer a high-level PFM to the Singapore market. May 30, 2016 – CashTrack starts using Spectre API within the Salt Edge startup program. The bank feed service empowers the Singapore startup to develop and support a trustworthy and easy-to-use personal expense tracker. The…

2 min read Jun 2017

Partnership with Norvik Bank to implement open banking platform | Salt Edge

Latvian based Norvik Banka has partnered with Salt Edge Inc. and it’s Priora Platform to become one of the first banks in the Baltics to tackle the PSD2 compliance process. June 13th, 2017 – Norvik Banka, the 8th largest private bank in Latvia, is also one of its oldest, having been…