Introducing Basiq’s Enrich API
We are proud to announce the release of our new Enrich API service – that makes encrypted, confusing and nonsense transactions a thing of the past!
Gain insights from each bank transaction
We admit it! We are nerds when it comes to doing cool things with data. One of the biggest challenges we have been working on is to provide a way for our customers to extract value from bank transactions.
A single transaction can provide a lot of detailed information about how it was executed. For example it can identify the location of where the transaction took place, the merchant that processed the transaction and help explain the general nature of the spend. All of these insights can be used to provide a better experience for your customers.
Announcing Basiq Enrich – industry leading expense categorisation
We are proud to announce the release of our new Enrich API service – which makes encrypted, confusing and nonsense transactions a thing of the past!
The Enrich API recognises bank transactions the way a human would. It uses a series of proprietary machine learning models which we have created to identify and classify each transaction – and taps into over +50 publicly available data sources to enrich it with valuable information about the merchant.
With a single API call the Enrich API can return the name of the merchant, a spending category and the address (along with lat/long coordinates!) of where the transaction took place.
The Enrich API has been operating for a little while now and has processed over millions of transactions for our banking customers. We are excited to finally make this service available to the general public.
We look forward to seeing what ideas our community of +200 talented customers will come up with to make money more engaging and to help people better manage their finances.