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

2 min read Jul 2016

Salt Edge Inc. signs agreement with Seedly | Salt Edge

Salt Edge Inc welcomes the newest participant of its Startup Program – Seedly, a Singapore based FinTech startup that aims to make Southeast Asia’s first non-banking personal finance app. July 6th, 2016 – Seedly is ready to go live with its simplified personal finance platform. Within the partnership agreement, Salt Edge…

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 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…

4 min read Nov 2017

Spectre API to be used by Société Générale Expressbank | Salt Edge

Salt Edge Inc. partners in Bulgaria with Société Générale Expressbank to deliver a customer-oriented Personal Finance Management solution which will incorporate Spectre API. November 28th, 2017 – Société Générale Expressbank, the seventh largest financial institution in Bulgaria and part of Societe Generale group, has partnered with Salt Edge Inc. to…