Contract Detection is a tool that identifies contracts and contract-related data from bank transactions. It provides insights into a customer’s financial obligations, contract partners, payment amounts, and payment frequency.
Why is Contract Detection useful?
It helps financial institutions and service providers:
Understand existing financial commitments of customers
Assess the regularity of payments
Identify potential savings and switching opportunities for contracts
Gain a comprehensive view of loan, insurance, utility, and telecom agreements
Which data is used for Contract Detection?
Incoming and outgoing transactions are analyzed. Key data points include:
IBAN and account details
Account holder name and type
Counterpart name and account details
Transaction purpose and amounts
Payment frequency
What sections are included in the Contracts Report?
Main Section: Overview of report period, aggregated values, and number of detected contracts
Account Data Section: Bank, IBAN, account type, and account holder details
Contract Information Section: Contract IDs, company names, contract and customer numbers, amounts, and contract status
Billing Information Section: Payment periods, first/last billing dates, average and total amounts, number of billings, and history
How can the Contract Detection Report be accessed?
Through the API endpoints. The complete API documentation is available in the finAPI API Documentation.
In which formats is the report available?
The report is delivered as structured JSON, making it easy to integrate into systems, dashboards, or further analysis pipelines.
How do I migrate from Contract Detection V1 to Contract Detection V2?
You can find all information about the migration from Contract Detection V1 to Contract Detection V2 on this page.
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