finAPI is more than a simple bank transaction data interface. finAPI has a built-in sofisticated categorization engine and ready-to-go services for PFM functionality.
- Transactions are categorized into 12 parent and 66 subcategories
- The categorization engine is trained by all finAPI users and thus all results are based on a large user base
- A self-learning algorithm constantly improves existing categorization rules and adds new rules where required
- User-specific categories can be created and user specific rules overrule community based rules
- The transaction categories can be retrieved by the transaction services (see documentation)
Personal Finance Management (PFM)
- Based on the categorization results, finAPI provides out-of-the-box services for PFM functionality.
- The available services allow the implementation of a wide range of PFM use-cases.
Functionality includes (examples):
- Historic account balances: Shows end-of-day account balances for flexible time periods
- Spendings by categories: Data for spendings to be used in pie charts
- Splitting transactions in several categories: Assigning several categories to one transactions (e.g. credit card bill or cash payments)
- Labeling of transactions: Option to add and search for additional labels attached to transactions (e.g. corporate expenses).