Merchant Statement Analytics

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Merchant Statement Analytics

Merchant Statement Extraction@2xManual merchant statement analysis is often complex, time-consuming and inefficient. Merchants look for banks that offer the lowest effective rate. However, the ability to provide a competitive rate depends on an accurate analysis of each merchant’s transactions, including whether or not there were any chargebacks, previous fraud history and much more. This process typically involves reading, understanding and calculating thousands of diverse and nuanced transaction codes before making an informed business decision. Without the right tools in place, this process can take hours or days, allowing banks to miss out on valuable information that can help them win prospective clients. 

Solution 

MSA Graphic 3@2xSoftworks AI’s Trapeze for Merchant Statement Analytics can automatically parse, recognize and analyze merchant statements, calculating the merchant’s new effective rate in real-time. This saves employees hours of manual processing, keeps the potential client engaged and allows bank agents to close new clients faster and more effectively. Trapeze data extraction also allows companies to organize data to allow for easy analysis of competitor fee structures and new industry trends. 

 

Technical Details 

Trapeze is built to process all types of file formats, from electronic PDFs to low-resolution images. Therefore, our technology is ideal for handling all types of files, even images captured with mobile phones and tablets. This allows for easy access to Trapeze in the field or on the road. 

Trapeze uses best-in-class data capture technology to quickly and accurately extract data from unstructured forms, complex tables and everything in between. It associates the data in each section of the merchant statement with specific transaction codes and individual data elements for accurate extraction, organization and analysis. 

Trapeze can use the merchant statement data to run a variety of calculations in real-time, to return an effective rate, risk coefficient, or statement summary, based on a customizable and easily adjustable set of algorithms.

Benefits

Closing New Business

Determine in real-time a prospective client’s current and potential effective rates, to keep potential clients engaged and close new business faster and more effectively.

Competitive Analysis 

Understand pricing structures of competing banks by processing, analyzing, and extracting relevant data from their merchant statements.

Data Mining

Extract data from merchant statements quickly, accurately, and in unprecedented volumes, and use machine learning to detect trends, and provide original, sector-specific insights.