Introduction to Recurring Transactions

Get an overview of your customer's international financial connections.

This report is appropriate for B2B and B2C use cases.

What it solves

To understand your customer's behavior, gaining insights into their financial habits is crucial. This can be seamlessly achieved through the Recurring Transactions Report. This becomes particularly significant when evaluating solvency, as well as gauging financial stability and liquidity. Moreover, armed with this knowledge, tailoring services to meet the customer's needs becomes much more effective. Additionally, from a risk management and compliance standpoint, being aware of the customer's recurring financial interactions holds paramount importance.

Recurring Transactions Report

For the best possible data quality, it is necessary that the data is subjected to an advanced analysis for recurring transactions. This uses the entire history to group transactions and identify recurring transactions that may also occur annually. Therefore, the report may not be available immediately after it is generated.

The Recurring Transactions Report provides a comprehensive overview of the customer's repetitive financial interactions. It reveals the counterparts involved, the amount of money being transferred, and the frequency of these transactions. Additionally, it encompasses pertinent account details and transaction specifics. This report proves invaluable when conducting meticulous financial assessments, such as detailed credit checks, allowing for a thorough examination of the values involved.

Aggregations

A Recurring Transactions Aggregation can be generated with the following query:

JSON

{
  "aggregations": [
    {
      "alias": "Entertainment",
      "includeLabelGroup": [
        "RECURRING"
      ]
    }
  ]
}

Used data fields

All transactions of the customer are used for this purpose. This includes data like IBAN, account holder name, counterpart name, purpose, amount, and so on.

The report response itself is divided into the following sections.

Main Section

The main part of the report can be found at $.reports.recurringTransactions.

This gives you a quick overview of the transactions used in the report through aggregated values that can serve as a summary.

A full API schema can be seen here:

Report Creation: https://docs.finapi.io/?product=di#post-/cases/-caseId-/report/recurring
Report Result: https://docs.finapi.io/?product=di#get-/cases/-caseId-/reports/recurring/-reportId-

Field	Description	Mandatory
`creationDate`	Timestamp of when the report was created, in the format '`YYYY-MM-DD HH:MM:SS.SSS`' (CET Europe / Berlin).	yes
`caseId`	ID of the case in which the report was created.	yes
`startDate`	Timestamp of the start date of the reporting period under review in the format '`YYYY-MM-DD`' (CET Europe / Berlin).	yes
`endDate`	Timestamp of the end date of the reporting period under review in the format '`YYYY-MM-DD`' (CET Europe / Berlin).	yes
`daysOfReport`	The number of full days, that the reporting period under review contains.	yes
`transactionsStartDate`	Timestamp of the date, when user's first transaction took place in the report period under review in the format '`YYYY-MM-DD`' (CET Europe / Berlin). This field takes into consideration all the transactions of the user, irrespectively of the assigned to them label.	no
`totalTransactionsCount`	The number of user's transactions, that took place in the report period under review. This field takes into consideration all the transactions of the user, irrespectively of the assigned to them label.	yes
`countIncomeTransactions`	The total count of positive transactions in the report.	yes
`countSpendingTransactions`	The total count of negative transactions in the report.	yes
`totalIncome`	The total income amount.	yes
`totalSpending`	The total spending amount.	yes
`totalBalance`	The total balance.	yes
`countRecurrencies`	Number of all recurrencies over all groups.	yes
`recurrencyData`	List of details of each recurring group.	no

Recurring Data Section

This section contains the details for each transaction group that is recurring.

Field	Description	Mandatory
`recurrenceGroupId`	The group of the recurring. All recurring transactions of this group are summarized under this ID.	yes
`frequency`	Frequency of how often the transactions of the group are repeated.	no
`firstTransactionDate`	Date of when the first Transaction was created, in the format '`YYYY-MM-DD`' (CET Europe / Berlin).	yes
`lastTransactionDate`	Date of when the last Transaction was created, in the format '`YYYY-MM-DD`' (CET Europe / Berlin).	yes
`recurrenceCounterpartName`	Counterpart name of the transactions in this group.	yes
`recurrenceCounterpartIban`	Counterpart IBAN of the transactions in this group.	yes
`accountData`	Object, which contains details of the account, which contains those transactions. Contains data like `bankName`, `bankId`, `accountIban`, `accountId`, `accountHolderName`, `accountHolderType`, and `accountCurrency`	yes
details	Details of the recurrence group.	no

Recurring Details Section

This section is located under the recurring data section as details.

Field	Description	Mandatory
`lastAmount`	The last amount of this recurring group.	yes
`averageRecurrencyIncome`	The average recurring income amount.	yes
`averageRecurrencySpending`	The average recurring spending amount.	yes
`totalRecurrencyIncome`	Total recurring income amount.	yes
`totalRecurrencySpending`	Total recurring spending amount.	yes
`totalRecurrencyCount`	Number of the transactions in this group.	no
`labels`	List of all labels of the transactions included in the recurrence group.
`history`	List of all transactions, used in this recurrence group. Transactions are listed here with `transactionId`, `date`, and `amount`. If you need more details, you can access the full transaction with the Transactions (API Reference) endpoint.	no