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SaltEdge substantially improves its automatic financial transactions Categorizer

SaltEdge, the financial data aggregation platform, improves its self-learning financial transactions Categorizer by adding a global database with information about points-of-sale.


June 5, 2015 - SaltEdge Inc. announces a significant improvement of its automatic financial transactions categorization engine. A global database of points-of-sale (POS) with data about more than 2.000.000 locations from over 120 countries is now integrated into SaltEdge Categorizer.

The enhanced SaltEdge Categorizer will bring financial transactions categorization to a much higher precision level. The quality of the categorization process will increase significantly and is expected to reach at least 90%.

The Categorizer has been designed as a self-learning feature that analyzes users' categorization preferences and adjusts its rules of assigning categories to transactions accordingly. Now SaltEdge introduces another powerful tool to better categorize users' account transactions with information about POS's name, category and country. This tool has been successfully integrated into SaltEdge Categorizer and will work for customer satisfaction.

Moreover, SaltEdge Categorizer is a truly international tool, since it can parse not only languages based on Latin alphabet, but Cyrillic, Arabic, Chinese, etc. Now the Categorizer understands transactions descriptions in a big variety of languages, which makes the categorization process independent of the country of origin of a transaction.

"Categorization precision has increased dramatically. Our clients are very happy that they don't have to categorize transactions manually, SaltEdge does this job for them and saves their time and effort." said Stellan Chadwick, SaltEdge client and frequent user.


About Salt Edge, Inc.

Salt Edge, Inc. is a Canadian company that provides financial data aggregation. Its services enable mobile and web developers to improve their personal finance applications and deliver best user experience. You can find more information about the company and its services at www.saltedge.com.