Nice job! This is a great idea and I've seen several opportunities in my short fintech career to implement something similar.
I'll keep this product in mind as I come across more integration opportunities!
Great product! Can you also make transaction categorization? i.e. tell if it was online shopping or groceries or an utility bill? And is this more suitable for card transactions or would it work also for other types of bank transactions?
Such an interesting, simple API. But it seems to be down and without maintenance and any social presence. Although the status page shows it up, the API returns a 502. ?makers is this project still up? Any way to contact?
Such a service is much needed. It's beyond me why bank transaction names are still so terrible in 2020. Especially when the name that shows up in your statement sounds nothing like the name of the company you actually paid.
@jon_fry Cheers Jon! I can't give you the exact numbers but I'll say that running your own tests on the free API will definitely clear up its power :) And if you are dealing with a specific transaction format, some light preprocessing can boost the performance even more.
Let me know if you need any help onboarding or setting up the API!
This is really cool and I love the niche your going for! Two questions:
1. Is there a 1-1 correspondence between transaction names and merchant names? That is will your service return 100% correct merchant names based on some proprietary (and potentially evolving) dataset or does it try to "guess" (for some rigorous definition of guess) what the name will be based on both a dataset and some heuristics/ML?
2. What's your privacy policy? How long do you hang on to transaction names?
@changlin_li Thanks! π
ML and proprietary data - we use a mix of both. As for accuracy, it's not 100% and I don't have the numbers right now but it's pretty great! I'd say the best way to get a feel of it would be to mess around with the free API for a couple of minutes :)
I'm glad to say, we currently do not hang onto transaction names at all! The principle is to keep things as private and isolated as possible.
This is very cool. I wonder if it's intended just for companies and such, or if you also have personal use in mind. Im thinking airtable + zapier integration could be awesome here.
@definetelynotsun Thanks Rachel! I know some folks have manually set up zapier integration so it's definitely doable. I'll see if maybe we can get a quick tutorial for that up and running :)
Carbon Interface 1.0