The solution provides an instant picture of users’ monthly recurring expenses with a particular focus on subscriptions. 

One can use Belvo API to get an instant picture of what users are spending on this type of service, analyse the impact it can have on their financial wellbeing, as well as provide them with more personalised insights on how to improve it.

The main goal of this new product is to provide greater insights into users’ most common spending habits on subscription services (like Netflix, the gym, or Amazon Prime), frequent utility payments (like internet or electricity), as well as other cyclical payments they might make (such as loan repayments and common transfers to friends).

Using these data points, companies can easily and quickly assess their customers’ repayment risk as well as offer them advice on how to improve their financial health.

The solution covers data coming from checking and credit card accounts.

The new solution uses Belvo’s API to extract financial information from the +50 top retail banks in Latin America (which represents more than 90% of market coverage). Then, our data science model processes this raw information to accurately identify the recurring transactions and display them in a format that’s easy to interpret and ready to use.

By leveraging the data retrieved from accounts, transactions, and transactions’ frequency, our model allows companies to instantly get clear insights into their user’s regular payments in a few simple steps:

3. Access: we return full information about your customers’ recurring outflows.

More details about this solution and its business applications here.