Numbrs powerful technology supports our users to build a healthier financial life.
The special analysis algorithms are greatly improving the categorisation of each transaction. This way, the user knows exactly where, when and how much money he spent and how much is actually left. For Numbrs users this means a far more detailed overview of their finances, unparalleled financial insights as well as many more useful features to be introduced in the future.
Using machine learning for real user benefits
For 6 years, Numbrs has developed and optimised a fully automated categorisation system. We are using the latest machine learning technology to deliver custom categorisation in real time to all Numbrs users.
First and foremost, Numbrs is a technology company. By bringing data and technology together we are able to greatly improve the value we deliver to our users.
For example, when compared to traditional banking applications, our categorisation system has a multitude of advantages:
- Automated & reliable categorisation
First our use of algorithms to automatically classify all of your transactions, removes the pain of you having to manually categorise them. It also enables us to provide you with a more reliable categorisation of your transactions, since our classification system is unique to every user, based on their transaction history and behaviour.
- Better insights
If you tap on “spending” in the analysis tab, you will see how much you have spent in each category. Therefore a more reliable categorisation also means more valuable insights into your finances.
We do the work so you don’t have to
Nothing illustrates this more than when we developed our classification algorithm. One of the best machine learning algorithms for classification is called supervised deep learning, in which the program learns the right classification by example.
The larger the data set, the more reliable the algorithm becomes. Our data scientists had to manually categorise close to 100,000 transactions to teach the algorithm.
Ultimately this is what makes Numbrs one of the most sophisticated money management applications on the market.