The Digital Receipts Platform
Secure Receipt Management for Card Providers and Expense Management Solutions
Traditionally physical receipts have been issued with a purchase but they are dying out as physical retail declines and business seeks to reduce their carbon footprints.
This poses an issue for Consumers and Business Customers who used receipts to check prices paid, reconcile expenses or spot fraud because they could not find details of the transaction in their financial statements.
Simple solution to a big problem
Mobile Banking Apps cannot show the basket of goods purchased because the Payment Gateways do not provide the information back to the issuing Bank.
We deliver Machine Learning on the Customer's Smartphone, to match the email and photo receipts to their corresponding Bank transactions.
We solve this problem securely and privately with no un permissioned data going to the cloud.
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What Customers see
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Photos of the items purchased, descriptions, quantities, shipping costs and item prices.
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Personalised experiences with offers customised to them based on purchases
Fraud in ‘card not present’ transactions where receipts are missing
Automatically reconciled Expenses and see a VAT breakdown
Our solution
Developer friendly, Monily's Machine Learning solution sits natively on the Smartphone using Apples (Core ML) and Googles Machine Learning (ML Kit) capabilities to extract the Receipts on the device's email and photos and match it to Transactions from either an installed Banking App or using Open Banking data.
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Using the data extracted from the receipt we can send it to pre built API integrations with Delivery Trackers (Aftership), Price Checkers (Price Search and GoCompare), Affiliates (Awin and CJ) or third party Open banking providers.
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Our Reporting solution allows the end user to permission their data for reporting into the Bank's desktop online banking to provide consistency across digital touch points.
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The platform also has provision to natively integrate OpenBanking to show pre enriched transactions in the customers Application.
Smartphone ML
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On Device Architecture using Core ML and ML Kit
Containerised ML
Open Banking web hooks
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Integrations
Delivery Tracker
Price Checker
Warranty and Returns
Price Comparison
Open banking
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Reporting
SKU level reporting
Desktop Banking integration
Anonymised data Price checking and trends
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Open Banking
AISP
Banking integrations
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To demonstrate our Machine Learning we launched a test App!
To demonstrate our technology we produced an App, Shoppa. Shoppa uses Open Banking to integrate financial data with the email receipts on the phone.
Our Machine Learning then extracts all the information on the purchase and matches it to the Bank transaction to show the user photos, items prices, sizes, quantities and VAT.
The user can then see the item they purchased against the card they used. We targeted it at 18-35 year olds, the App quickly gained traction and provided a live testing environment for our product.
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Who are we?​
Opening a Banking or Credit card App to try to find details on your transaction is impossible so in 2018 we decided to solve the problem using data. We began by trying to reimagine how the experience could be transformed to save customers the pain of managing their receipts.
The solution was to combing receipt data with Banking transactions so we could see the details of the flight we took to London or the size, colour or item price of the trousers or, take the pain out of finding the hotel receipt for that you took on business.
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It completely transformed how we looked at banking data and meant we could integrate services like managing subscriptions, utilities switching, price comparisons and refunds, all within a solution that was secure.
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