Entities identification is the first step in transaction enrichment. It identifies entities and classifies them according to their role in the transaction and subsequent type. All entities returned as part of the enrichment are accessible via our Entities API.

Roles

A transaction is composed of zero or more entities:

• An account holder that may or not be represented in the description.
• A counterparty that is usually present in the description, that can either be a person or an organization.
• One or more intermediaries. These are usually payment processing companies or food delivery services that act on the behalf of the account holder and process their transactions.

Account Holder Disambiguation

In some cases, we have transactions that may contain both the information about the account holder and the counterparty in the same transaction. These ambiguities are notoriously difficult to resolve, specially in business transactions where it’s common for one or more organizations to appear in the description.

Take the following transaction:

DEPOSIT CITY VENUE MGT | REF: LOAN | GA SILK AUD AUDLAUNDRY PTY LTD | *********** | *******************

From this description, we can extract CITY VENUE MGT and SILK AUD AUDLAUNDRY PTY LTD which are both organizations. Without more information, any could be the sender or the receiver and by extension the account holder or the counterparty. Setting the name of the account holder (if you have it) could drastically improve accuracy in cases like these.