Coinscrap Finance provides an AI-powered categorization engine that transforms raw transaction data into actionable financial insights, enabling banks and insurance companies to deliver hyper-personalized digital experiences. This technology addresses the challenge of understanding individual customer needs, facilitating better financial planning and decision-making through tailored recommendations.
Funding
$3.6M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Financial institutions often struggle to translate raw transaction data into actionable insights, hindering their ability to deliver personalized digital experiences to customers. This lack of understanding limits opportunities for tailored financial planning, advice, and product recommendations.
Solution
Coinscrap Finance provides an AI-powered engine that categorizes and enriches raw transaction data, enabling banks, insurers, and fintech companies to gain a deeper understanding of their customers' financial behavior. The platform cleans and sorts transactions with high accuracy, leveraging machine learning and natural language processing to identify spending habits, recurring charges, and other key financial patterns. By transforming unstructured data into clear financial insights, Coinscrap Finance empowers businesses to deliver hyper-personalized experiences, improve customer engagement, and identify new revenue streams through targeted product offerings and advice. The platform's modular design allows for various applications, including personal finance management, automated savings, loyalty programs, and risk assessment.
Target Audience
Coinscrap Finance primarily serves banks, insurance companies, and fintech firms seeking to enhance their digital offerings with personalized financial insights and improve customer engagement.
Features
- AI-powered categorization engine with over 96% accuracy in cleaning and sorting transactions
- Transaction enrichment, including merchant identification, geolocation data, and categorization
- Open Banking connectivity for accessing and aggregating data from various sources
- Micro-savings module for automating account management and promoting savings habits
- Loyalty program integration for rewarding customers based on spending habits
- Risk assessment tools for improved lending decisions
- API for seamless integration with existing banking platforms
- ISO 27001 certification ensuring data security and confidentiality