Monily has created Machine Learning products to enrich Banking statements with the receipt data found in email. Today’s ageing Bank systems stop Financial Services companies from providing valuable products and services that meet the demands of data hungry consumers.
Monily’s Splinter product securely extracts the data from the receipts to enrich the corresponding Bank transaction with granular information on the items purchased. With the world moving to electronic receipts, the solution solves the problem of Bank customers not being able to reconcile transactions found on their Statements.
Financial Services companies benefit in augmenting transactional data in three ways;
- Banks can reduce costs associated with fraud enquiries, sell personalised financial products based on purchases and create ‘Uber-like’ customer experiences.
- Credit companies can add purchasing data into their scoring algorithms to help score those with no Credit history.
- Financial Accounting software can automatically pull in purchase receipts and match them to expenses to streamline the process of reimbursement.
Splinter is completely GDPR complaint and works either on a Smartphone or within a Banks systems without data being processed on the cloud using Industry standard Application Programing Interfaces (APIs).
Adrian James – CEO
Roman Popat – Chief Data Scientist
Martin Langosch – CTO
Eric Ruck – Head of Engineering
Andy McIntosh – Head of CX
Iain Levin – Chairman