GoCompare opens up APIs to fintech firms
UK price comparison site GoCompare is opening up its APIs to fintech firms, letting them pump in anonymised transaction data for analysis.
The Machine Learning for Fintech project will give free access to APIs focused on transaction categorisation, merchant identification and insight on predicted spending.
The APIs produce a summary of the transactions and provide predictions on future spending, giving fintech startups customer insights without having to build up their own teams.
GoCompare says that it will also use the anonymised data to train and build robust machine learning models for the fintech community, which it says will ultimately benefit consumers.
Jackson Hull, chief operating and technology officer, GoCompare, says: “AI and machine learning are the future of financial services and will raise the benchmark of customer expectation.”
Firms can apply for beta access now.