Data Enrichment Platform

Get empowered with a set of tools for a complete financial behavioral analysis

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Data Enrichment

Go Beyond Simple Aggregation

Salt Edge developed the Data Enrichment Platform with a clear goal - to go beyond simple data aggregation by providing the tools for conducting financial behavioral analysis. The platform opens up the opportunity to develop new and sophisticated algorithms, as well as to create new business models that would benefit both financial institutions and their end-customers alike.

Financial institutions gain the ability to provide personalized services and conduct better risk assessments based on detailed customer spending patterns, while their end-customers get the chance to evaluate their own financial habits at a much higher level.

Salt Edge developed a variety of added-value APIs, more precisely Merchant Identification API, Financial Health Check API, Personal and Business Categorization APIs as well.

Transaction Categorization API

Categorization

The Salt Edge Categorization API takes unclear and cluttered transactions, business and personal alike, and turns them into meaningful insights that can be used by financial institutions and their customers. The engine relies on a simple and clear structure, refined pattern recognition, and machine learning algorithms in order to extract maximum value out of the end-customer data and to ensure the highest possible categorization accuracy.

  • Personal and Business Categorization
  • Self-learning engine based on sophisticated algorithms
  • Support of customer-defined categories

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Financial Categorization API

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Merchant Identification API

The Merchant Identification API was built to help with discovering new business opportunities. Merchant data is the key to opening new streams of revenue, it can be used for anything from targeted marketing campaigns to providing clients with personalized analytical reports. The API identifies the merchants (Point of Sale) and their related data, based on the end-customer's spending history.

  • Instant and precise detection of the merchant from the cluttered transaction description
  • Detailed info about the identified merchant: address, transliterated merchant name, contact details, social media links;
  • Built-in mechanism to automatically map the location by coordinates
Merchant Identification

Financial Health Check API

Health Check

The API assists lenders in extracting valuable information from the borrower's data, enhancing decision-making as a result. The loan applicant's assets and transactions can be verified in real time, with his/her consent for extracting the data directly from the bank account. After a series of quick evaluations, the API instantly determines if the minimum set of qualification requirements is met, or if there are any "red flags" present. The Financial Health Check API provides lenders with insightful financial behavior profiles of their potential clients, enabling businesses to analyze each prospect's financial situation in great detail.

  • Instant income detection
  • Credit funds usage observation
  • Instant verification of loan applicant’s bank data
  • Financial behavior scoring based on real-time data

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Financial Health Check API

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Salt Edge Global Data Aggregation API

Data Aggregation

The Data Enrichment services can be applied onto any transaction database, regardless of the data retrieval mechanism or the data source. The client may already possess the bulk of transaction data in-house or it can be obtained through an external data aggregation service, such as Salt Edge that has an ever-expanding data sources.

How Does the Integration Work?

Regardless of which method you use to obtain financial data, each of the Salt Edge's Data Enrichment APIs can be easily integrated with any system in the span of a couple of weeks. Salt Edge's APIs are lean and simple, accompanied by a set of explicit and detailed documentation, a wide variety of examples in different programming languages. Clients have access to a friendly testing environment, to make the integration process a less time draining procedure. An on-premise solution can also be arranged by contacting the Salt Edge Sales Department to discuss the customization options and their advantages.

Test and Integrate the API
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