IDcentral - A Division of Subex
With our continuous pursuit to help businesses reduce the blind spots in business metrics, we have come up with yet another feature that will prove to be the richest source of financial data, i.e SMS TxN Extractor. SMS was believed to be a dead market until people began to understand the reliability. Apart from the concept of reliability of SMS messaging, texts are quick, cost-effective and results can very quickly be analyzed. SMS Txn Extractor filters the transactional SMS’s from collection of SMS’s that we receive every day, to evaluate the user attributes that will be helpful to predict many different vectors such as – Purchase pattern, Financial profile, Income proof and Credit/insurance risk.
First, here’s a quick roundup of why you should use SMS TxN Extractor for your business, then we’ll head into some more detail about how we do it!
1) Helps one understand the purchase pattern: Transactional SMS captures beyond overall debit and credit. It can tell you about the usage and frequency of purchase of various products and services by extracting SMS’s from E-commerce, App-based cab, Mobile wallet, OTT etc.
2) Helps you understand the financial profile: Transactional SMS is a rich source of information. It can tell you regarding earning and spending patterns.
3) Gives you information regarding credit & insurance risk vectors: Transactional SMS covers many more indicators beyond credit card and loan repayment delays.
4) Inputs about the Income proof: NLP of transactional SMS provides real-time passive way of doing income proof for 100% of the population with bank accounts/mobile wallets.
Percentage of Subscribers having different transactional messages –
Provision of displaying multiple bank Accounts-
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Sushanta Mishra is Associate Director at IDcentral. He has around 14 Years of experience in Banking, Insurance & B2B industry. He has worked on numerous transformational projects across Machine Learning & Deep Learning.