Categorisation as a Service (CaaS) is designed to to give organisations an unprecedented understanding of what your customers can afford to borrow and what they are able to repay. It enables you to treat every customer as an individual; helping them meet their needs and goals by better understanding their personal finances.

Reduces underwriting time, increases efficiencies and improves the accuracy of your decisions

CaaS automates the analysis of large volumes of transaction data instantaneously allowing you to focus on understanding your customer’s financial behaviour. It saves time, increase efficiencies and provides additional insight to inform decisions. Customers benefit from a better, quicker, more personalised experience; and businesses can make decisions based on an accurate view of an individual's finances based on what they earn, spend and save and what they can afford to repay when they borrow. CaaS can be used to spot vulnerabilities and changes in financial behaviour providing you with insight to proactively manage your customers, identify their needs and help them avoid falling into debt.

The service is the only solution in the UK which currently categorises both bank and credit card transaction data enabling you get a complete picture of a customer’s income, expenditure and credit commitments

Optimises the using of machine learning and data science to make better decisions

• Are tailored to categorise, and derive insight from, current account and credit card transactions in both the United Kingdom and Ireland
• Built and trained using over 10billion transactions using current and credit card account data from major UK and Irish retail banks and credit card providers
• Results in a 75% reduction in underwriter time to source and interpret bank and credit statements
• Optimised for use in financial services across the credit lifecycle including pre-qualification, originations, customer management and collections
• 97% accurate when mapped to the FCAs affordability metrics. 95% accurate when categorising an organisation's own customer information using Experian's (185 sub-category) taxonomy
• Continuously updated and maintained through the processing of over 240m Open Banking data exchanges a month
• Supported by a team of 20 data scientists and annotators

Helps you grow your business, reduce operational costs and provide a better customer experience

Caas provides access to a variety of insights to automate your understanding of an individual's finances. These insights include:

• CastScore – 1,600+ behavioural datapoints, income and expenditure summaries and Experian's proprietary affordability score
• Income Insights – verifies net and irregular income, income shock, income stability and payment holidays
• Balance Insights – monitors account turnover, cashflow, overdraft usage and balance
• Employment Sector – verifies source of income, employer and employment type
• Customer Management – monitors financial resilience and signs of potential vulnerabilities, as well as a range of behavioural characteristics.
• Credit Card Behaviours – informs credit behaviour including expenditure characteristics and balance for credit cards
• Account Usage – confirm primary accounts, savings and undeclared business accounts. Understand account activity and dormancy