Data Science in Finance: Smart Algorithms for Transaction Categorization

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Digital transformation is having a significant impact on the financial sector. Data science in finance is the most applied technological innovation, which allows fintech applications to automate ever more complex processes and decision-making with the highest level of accuracy. Softengi developed on the request of a finance service company, which offers data-focused solutions for the lending industry, tailored-made machine learning algorithms, based on data science, in finance applications of the company. The designed ML algorithms allow the company’s application to recognize various transactions and analyze their content, generating only relevant information. Specifically, Softengi enabled the software to analyze a huge number of transactional documents provided for obtaining a loan. Using data science in finance landscape and its algorithms allowed the company to automate the processing of transaction documents, and hence improve workflow productivity. The Result Today, the client company can better manage Big Data, effectively processing and categorizing it. Applying data science in finance context allowed Softengi to design ML-based algorithms that enabled the client company to automatically classify a large amount of various transactions, thereby enhancing its lending scoring and banking services.
  • Azure
  • .NET
  • Python