Valid8 Launches AI Categorization for Banking Transactions

We’re excited to share the news that we’ve expanded our industry leading Verified Financial Intelligence (VFI) platform to now include AI Categorization, saving customers hundreds of hours previously spent manually categorizing transactions.

Valid8's Verified Financial Intelligence (VFI) platform is used by thousands of forensic accountants, attorneys, paralegals, and government investigators to trace the flow of funds for some of the most complex fraud, bankruptcy, and cryptocurrency cases in the world. These cases and investigations typically involve thousands of transactions that need to be categorized in different ways to bring visibility to potential issues and make it possible to identify undisclosed assets.

With just a single click, Valid8 customers can now automatically categorize all income and expenses to create a trended statement of cash directly from banking evidence.

How Automated AI Categorization Works

Valid8 customers simply upload their banking transaction data from bank statements, check images, deposit slip images, and accounting systems, and the Valid8 platform does the rest.

AI Categorization classifies banking transactions by:

• Transaction Type
• Transaction Location
• Main Category (eg, retail, travel)
• Sub Category
• Counterparty (eg, person, vendor, merchant)

Once auto categorization is complete, customers simply need to review and make any desired changes using our custom categorization option. The categorized data can be exported to Excel or as a statement of cash, directly from the bank evidence.

The Benefits of AI Categorization

With a single click, Valid8’s automated AI Categorization feature:

• Accelerates data preparation to allow more time for analysis and strategy
• Increases the value of the data  by enriching it with critical location and counterparty labels
• Accelerates the ability to visualize cash flow into and out of accounts

AI Categorization is our latest innovation available at no additional cost to subscribers as part of our ongoing commitment to leverage automation and the latest in AI technology in service of accounting, legal, and government professionals.

To learn more about how Valid8, the world’s leading Verified Financial Intelligence (VFI) platform, can help you trace the flow of funds and generate courtroom-ready evidence in hours instead of weeks, contact sales today: