Berlin, February 17, 2022 – Finanzmining is now making parts of its API for real-time analysis of bank accounts available free of charge in order to further promote and advance the fintech community.
This relates in particular to the categorization of postings to bank accounts of consumers or small businesses (SMEs). Such categorization is a central building block for determining the precise financial status of consumers or SMEs, providing them with tailored advice on financial matters, carrying out creditworthiness checks or determining the need for and interest in products and services at an early stage.
Financial mining enriches financial data from consumers and SMEs and provides analyses based on this data – for example, on existing contracts, financial obligations, future performance and future activities, as well as affinities with products and brands – in real time. This is done using an easy-to-integrate API interface. One part of this service spectrum is the categorization of bookings on bank accounts. Over 600 detailed categories thus paint a comprehensive and accurate picture of consumers and SMEs.
Financialmining CEO Dr. Stefan Lang, explains the free offering as follows: “We are taking this unusual step to decisively drive the success of the finance community. Many fintechs have exciting plans, but limited funds to realize and pay for them. With our categorization technology, they now get a valuable building block for their applications without being charged for it.”
The Berlin-based fintech Finanzmining was founded in 2019 by Dr. Stefan Lang, the former Chief Digital Officer of HypoVereinsbank, among others. It provides real-time consumer and SME insights based on their financial data via API, helping banks and fintechs to create innovative financial applications in the shortest possible time.
Finanzmining c/o Cashbuzz GmbH
Michael Kampe, Co-Founder and COO