Banking API — Fintech
Automated Transaction Categorization for Fintech Apps
Automatically categorize bank transactions into spending categories with Fiskil's intelligent categorization engine. Turn raw transaction data into actionable insights.
Raw bank transactions are difficult to interpret. Fiskil's transaction categorization automatically organizes transactions into meaningful categories, enabling spending analysis, budgeting, and financial insights.
The Challenge
Bank transaction descriptions are cryptic and inconsistent, making it difficult for users to understand their spending patterns.
The Solution
Fiskil automatically categorizes every transaction into consistent spending categories using machine learning and rule-based logic.
Capabilities
How Fiskil Helps
Automatic Category Assignment
Every transaction is assigned to a category (groceries, transport, dining, entertainment, etc.) automatically.
Merchant Enrichment
Raw merchant names are cleaned and enriched with recognizable business names.
Multi-Level Categories
Hierarchical category structure (e.g., Shopping > Groceries > Supermarkets) for granular insights.
Custom Categories
Define your own category taxonomy or customise the default categories to match your app's needs.
Implementation
How It Works
Fetch Transactions
Retrieve transactions from the API. Each transaction includes raw description, amount, date, and other metadata.
Receive Categories
Transactions come pre-categorized with category name, category ID, and confidence score.
Display Insights
Use categorized data to show spending breakdowns, budget tracking, and financial trends.
Allow Recategorization
Let users manually adjust categories if needed, improving accuracy over time.
In Practice
How Teams Use This
Budgeting App
A budgeting app uses automatic categorization to show users exactly where their money goes each month.
Users get instant spending insights without manual data entry, increasing app engagement by 60%.
Expense Management Tool
A business expense tool categorizes employee transactions for automatic expense reporting.
Reduced expense report processing time by 80% through automatic categorization.
Financial Wellness Platform
A wellness platform uses categorization to provide personalized savings recommendations based on spending patterns.
Users save an average of $200/month by identifying unnecessary spending categories.
Technical Details
What You Integrate With
API endpoints
GET /accounts/{accountId}/transactionsGET /transactions/{transactionId}POST /transactions/{transactionId}/recategorize
Data returned
Transaction category
Category confidence score
Merchant name (enriched)
Transaction type (debit/credit)
Recurring payment indicator
Authorisation
OAuth 2.0 / CDR consent
Real-time data access.
Ready to get started?
Get your API keys today and start building with Fiskil's Banking API.
FAQs
Related Use Cases
Fintech
Account Aggregation
Enable users to connect and view all their bank accounts in one place. Fiskil's account aggregation API provides real-time access to accounts, balances, and transactions from 200+ banks, lenders and energy providers across Australia and New Zealand.
Personal Finance
Budget Tracking
Track spending against budgets automatically using real banking transactions. Help users manage their money with intelligent budget tracking and alerts.
Personal Finance
Spending Insights
Provide personalized spending insights using AI-powered transaction analysis. Help users understand spending patterns, identify savings opportunities, and make better financial decisions.
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