Moneyhub launches next-gen categorisation and enrichment engine for smarter insights

Source: Cognito / Moneyhub

Moneyhub, the leading data and intelligence platform for financial institutions, has unveiled the next generation of its categorisation and enrichment engine. With upgraded geolocation and merchant identification capabilities, Moneyhub is enabling financial institutions to bridge the gap between raw data and genuine behavioural insight. This evolution helps institutions eliminate customer confusion while building a robust, durable foundation for the next generation of deterministic AI-driven financial services.

Eliminating unknown transaction panic

Disputes around unrecognised transactions are a common issue for banks. Even when the charge is legitimate, time and resources are still expended to reassure customers they have not been defrauded. This is because the detail required for a customer to recognise a specific merchant or where a transaction took place is often missing or opaque.

By providing the richest possible metadata around each transaction, Moneyhub’s enhanced geolocation module brings rich, real-world detail directly into the banking experience. By surfacing clear merchant logos, precise map locations, and contact details, the technology enables banks to help customers instantly recognise spending across all platforms. This eliminates unknown transaction panic, cuts dispute and support load, and gives customers an immediate sense of where spend occurred, not only what appeared on a line of text.

The next generation of AI-driven financial services

For organisations looking to lead in personalisation and make use of AI in their own propositions, Moneyhub’s latest identification module adds context to act as a source of truth. It intelligently cross-references multiple premium data sets to create a single, accurate golden record for every merchant. With unparalleled accuracy, this provides a reliable, high-fidelity data asset to power everything from AI-driven advice to automated affordability checks and precise analytics, which helps financial institutions turn Consumer Duty from a compliance exercise to a driver of growth.

Matt Barr, product director at Moneyhub, said: “Banks still lose time, resources and consumer trust because transaction descriptions are opaque and confusing. When people check their statements and don’t recognise a payment it kicks off a series of unnecessary service centre calls, false disputes and manual reviews.

“The latest release of our categorisation and enrichment engine not only solves these problems, but provides financial institutions with the enriched data needed to power their next generation of AI-driven products.”

The updated services are live with existing Moneyhub clients and available to any firm that wants to make more of its transaction data.