What is Hesab-Ketab?
- Hesab-Ketab is a personal financial management tool connected to bank accounts. It receives user transactions from the bank and automatically categorizes and learns from the behavior of the user and other customers.
- It Analyzes user’s costs and revenues, depicting them in the form of graphs.
- It Allows the users to define a budget for themselves and warns them before the budget runs out.
- It can receive transactions from other banks and cash purchases.
- It can also work as an authentication tool for customers.
Hesab-Ketab advantages for banks
- Brand Empowering:
Due to the novelty of this concept in Iranian banks, it provides the opportunity for the bank to strengthen the pioneering of its brand in providing distinctive and innovative services in the field of modern banking by launching this service and effectively introducing it to customers.
- Customers relationship strengthening
Typically, customers have to refer to a bank branch or use internet banking if they intend to conduct banking operations. By introducing the personal financial management tool, the customer relationship with bank enters a new field by making it possible to establish a closer two-way connection with the customer.
- New features of Mobile Banking and Internet Banking
In addition to providing an independent system, Hesab-Ketab by providing new features, adds a new and distinct feature to other banking systems such as mobile banking and internet banking.
- Data analysis
By adding information about the classification and type of financial transactions of customers in their bank accounts, it is possible for the bank to have a better analysis of customers’ financial behavior, and as a result, better validation and clustering of customers.
- Selling more products
By categorizing customers based on Hesab-Ketab data repository, it is possible for the marketing department of bank to design and offer specific products with a more accurate understanding of the customers’ lifestyle that meet the needs of customers at the right time (when the customer needs it).
- Improving customers’ loyalty
Relying on the bank as a personal financial advisor in the field of micro-banking, long-term customers’ loyalty to the bank is empowered. On the other hand, this tool creates a positive attitude towards the bank as a caring and knowledgeable financial broker, by helping the customer to regulate his budget and achieve financial goals.
Hesab-Ketab main features
- Receiving customers’ transaction data from various sources
Hesab-Ketab importer module – by fetching data from various banking sources (accounts, cards) at specified intervals, performs the task of aggregating, summarizing, completing, clearing, and storing in the database.
- Automatically categorizing transactions
Hesab-Ketab categorizes or labels as many transactions as possible based on parameters such as the type of transaction, the information of known recipients, the classification of other users of the system and the rules defined by the user.
- Categorizing and labeling transactions by the user
The user can select one of the predefined categories (such as bill, food, clothing, etc.) for each of his transactions. In addition, the user can label each transaction with one or more self-defined tags.
- Analytical charts
Various reports along with a variety of pie charts (circular), linear, bar, aggregate, alignment, and cloud charts allow the user to examine various aspects of revenue and expenses.
customers can set their annual, quarterly, or monthly budget for each of their payments/receipts categories. Hesab-Ketab shows the percentage of budget realization of each category to the user and plots the deviation from the budget (relative to the current date). If a budget exceeds a certain limit (which can be set by the user), the system will automatically send them a warning.
- Breaking compound cash transactions
Sometimes a bank deposit or withdrawal itself includes some of the user’s income or expenses. Like when a cash withdrawal is used for several purchases from different categories or a deposit represents salary and receivables. In this case, the user can break this transaction for each component and separate labeling.
- Entering transactions of other banks
The user can enter transactions of other banks in Hesab-Ketab by entering the excel file of the invoice received through their internet banking panel. Automatic categorization also applies to these transactions.
- Adding manual transactions
The users can add their non-banking transactions to Hesab-Ketab. In this way, they will not need to register their financial data in two different places, and Hesab-Ketab will replace as their unique reference for registering financial data.