The Market Mogul published on November 4th, 2017 an article called "Anatomy of Futuristic Financial Services" mentioning eWise client-side Account Aggregation technology and our Categorisation-as-a-Service API.
Forecasting the Future
The future of financial services will depend on tech innovations that solve problems, with APIs and interfaces that are fully integrated and enabled to collaborate. PSD2 will require banks to open their data, which will enable consumers to aggregate all their bank accounts in one place. As an example, eWise’s data aggregation platform (Aegis) will enable end-users to privately and securely aggregate, store, manage and share their financial information. Another ground-breaking innovation is the augmentation of raw transactional data, a key step in building financial apps that assist consumers in understanding their financial spending patterns.
“Categorisation-as-a-Service” makes the process frictionless by combining big data driven AI for auto categorisation. Income verification and spend analysis highlight factors used for a richer credit scoring experience, reducing the default risks due to borrowers’ financial deep knowledge. Understanding customer behaviours will help firms develop better money management tools: cash flow forecasting, predictive spend analysis and auto-budgeting. Mining data from user’s transactions will also determine behaviours to help in fraud detection.
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