Planky’s Insights is a library of metrics which are calculated from the underlying transaction data and give additional value over and above the basic metrics which are supplied by banks.
The Insights library contains hundreds of financial metrics that are all available via Planky’s API. A selection of the most commonly-used metrics in customer risk assessment are given in the Planky dashboard.
The Insights product comprises several dimensions, each of which we will describe in more detail below.
| Planky Insight | High-Level Description |
|---|---|
| Cashflow Summary | Metrics such as average, historical and future predicted values. |
| Top Recurring Transactions | Most significant transaction groups for incomes and expenditures in the last 12 months |
| Recurring Income Stability | Displays metrics for recurring incomes available in the most recent 3 months of transaction data |
| Financial Markers | These are metrics for which the number of incidents, total amounts and proportion to income are provided. |
| Financial Indicators | These are important flags highlighting key account activity. |
| Events and Alerts | It includes detailed information about event type, description, date and amount for events and alerts. Events highlight key account activities and Alerts highlight very important account behavior. |
| Balance history & forecast | Shows the historical daily balances and 90-day predicted forecasts of daily balance |
| Income & Expenditure Analysis | Breakdown of monthly income and expenditure patterns |
To access these insight reports, perform the following:
- 1. Navigate to the Reports panel in the Dashboard
- 2. Click on the appropriate Ready button next to the customer report you wish to view (the green Ready button indicates a customer has shared data)
- 3. The customer’s report will be displayed.
Planky’s Cashflow Summary is displayed on the top of the report page. Summary combines predictive values, average values and historic trends for Affordability, Income, Recurring Income, Balance, Fixed Costs and Flexible Costs.
Insights for personal and business are located on separate tabs for customers who have connected both types of accounts.
| Metric | Description |
|---|---|
| Affordability Threshold | The next expected amount of Monthly Affordability |
| Predicted Monthly Income | The next expected amount of Total Monthly Income |
| Predicted Recurring Income | The next expected amount of Total Monthly Recurring Income |
| Predicted Fixed Costs | The next expected amount of Monthly Fixed Costs. Please contact with us to get the list of the included cost categories. |
| Predicted Flexible Costs | The next expected amount of Monthly Flexible Costs. Please contact with us to get the list of the included cost categories. |
| Average Affordability | Average value for the last 12 months |
| Average Income | Average value for the last 12 months |
| Average Balance | Average value for the last 12 months |
| Average Fixed Costs | Average value for the last 12 months |
| Average Flexible Costs | Average value for the last 12 months |
Planky’s Top Recurring Transactions includes the most significant transaction groups for Incomes and Expenditures for the last 12 months. Each of the group has three scores (Consistency, Regularity, Longevity), category and a list of transactions. The top groups are chosen based on largest contribution within income or expenditure.
The metrics described below are provided for each group of top recurring transactions
| Metric | Description |
|---|---|
| Amount Consistency | Determines how consistent are the monthly amounts within the group. 100 means the values are the same. |
| Regularity | Determines how regular in time are transaction to each other. 100 means exactly the same period of time between transactions. |
| Longevity | Determines for how long we have transactions in the group. 100 means the transactions occur in each of the last 12 months. |
The panel displays metrics and recurring incomes available in the most recent 3 months of transaction data
The metrics described below are provided for each group of recurring income
| Metric | Description |
|---|---|
| Expected amount | The next expected amount for this group of income |
| Expected Pay date | The next date to receive the income payment |
| Frequency | The frequency of payment. Allowed values are Monthly, Fortnightly, Weekly, Daily, Irregular |
| Amount Consistency | Determines how consistent are the monthly amounts within the group. 100 means the values are the same. |
| Regularity | Determines how regular in time are transaction to each other. 100 means exactly the same period of time between transactions. |
| Longevity | Determines for how long we have transactions in the group. 100 means the transactions occur in each of the last 12 months. |
Planky’s Financial Insights are a library of engineered feature variables which have been designed to give insight into financial risk. The set of Financial Markers displayed in customer reports for personal and business isn’t identical (for example, there are risk markers which only apply to business or personal accounts), but there is some overlap. We will explore this further below.
The Financial Insights section of the customer report for personal accounts is divided into three distinct panels as follows:
| Panel | Description |
|---|---|
| 1. Financial Markers | These are important metrics for which the number of incidents, total amounts and proportion to income are provided. |
| 2. Financial Indicators | These are important flags highlighting key account activity. |
| 3. Events Feed | It includes detailed information about event type, description, date and amount for events and alerts. Events highlight key account activities and Alerts highlight very important account behavior. |
Descriptions of individual markers and the underlying logic used to calculate them can be found in the data dictionary described below.
The Financial Insights panel for business accounts is divided into two sections:
| Panel | Description |
|---|---|
| 1. Financial Markers | These are important metrics for which the number of incidents, total amounts and proportion to income are provided. |
| 2. Financial Indicators | These are important flags highlighting key account activity. |
Descriptions of individual markers and the underlying logic used to calculate them can be found in the data dictionary described below.
The balance graph shows the historical daily balances and 90-day predicted forecasts of daily balance.
The default display represents the total balance calculated across all accounts a user has connected. Balance histories and forecasts for individual accounts can be viewed by selecting from a dropdown bar. Users may also filter the time period of data displayed in the graph, as shown below.
The customer reports page provides a daily trend of income and expenditure.
The graph represents the total income (green) and total expenditure (red) amounts (y-axis) on any given day (x-axis). The net daily cash flow (daily income - daily expenditure) is shown in purple.
Given below are detailed descriptions of each of the Financial Markers features given in the customer report. Also displayed is which customer report (personal or business) that feature appears in.
| Feature | Description | Personal | Business |
|---|---|---|---|
| Credit Repayments | Number of incidents, total amounts and percentage of income for credit repayment transactions. | yes | yes |
| Loan Income | Number of incidents, total amounts and percentage of income for loan income transactions excluding payday loans | yes | no |
| Payday Loan Income | Number of incidents, total amounts and percentage of income for payday loan transactions | yes | no |
| Gambling | Number of incidents, total amounts and percentage of income for gambling transactions | yes | no |
| Cash Withdrawals | Number of incidents, total amounts and percentage of income for cash withdrawal transactions | yes | no |
| Bank Charges | Number of incidents, total amounts and percentage of income for Bank charges transactions | yes | yes |
| Returned Direct Debits | Number of incidents, total amounts and percentage of income for returned payment transactions | yes | yes |
| New Debt | Presence of a new debt product on the customer’s account | yes | yes |
| Payday Loans | Presence of incoming Payday loan product on the customer’s account | yes | no |
| Buy Now Pay Later | Presence of any payments to a buy now pay later service provider on the customer’s account | yes | no |
| Debt Management | Presence of any payments to a debt collection, recoveries or management company on the customer’s accounts | yes | yes |
| New Employer | Detection of a new employer, inferred through transaction data | yes | no |
| Possible Loss of Income | Detection of a significant drop in month-to-month income | yes | no |
| Out of Work Benefits | Presence of any out-of-work related benefits such as Jobseekers Allowance on the customers accounts | yes | no |
| Child Benefits | Presence of any child benefit payments on the customer’s accounts | yes | no |
| High Cost Short Term Credit | Presence of high cost short term credit repayments on the customer's accounts, such as payday loans | no | yes |
| Recent Account | Indicator denoting whether the account is new | yes | yes |
| Insurance | Presence of any insurance payments on the customer’s accounts | yes | no |
| Council Tax | Presence of any council tax payments on the customer’s accounts | yes | no |
| Mortgage/Rent | Presence of any mortgage/rent payments on the customer’s accounts | yes | yes |
| Investments | Presence of any savings & investment payments on the customer’s accounts | yes | no |
| Negative Balance Ratio | The percentage of time the user spends with a negative total balance | yes | yes |
Events and Alerts are an extension to the Financial Indicators. Events consists of title, description, amount, time.
| Event Type | Rule Description | Default Threshold |
|---|---|---|
| BALANCE_NEGATIVE | The most recent daily balance is below 0 compared to the previous day | 0 GBP |
| BALANCE_THRESHOLD | The most recent daily balance is above/below the threshold compared to the previous day | 2000 GBP |
| BENEFITS_MISSING | Benefits transactions are not detected in most recent complete month but available in the month previous | n/a |
| BNPL_TRANSACTION | If buy now pay later payments detected in most recent 3 months | n/a |
| CHILD_BENEFITS_TRANSACTION | If child benefits payments detected most recent 3 months | n/a |
| COUNCIL_TAX_TRANSACTION | If council tax payments detected in most recent 12 months | n/a |
| DEBT_MANAGEMENT_TRANSACTION | If debt management/collection activity in most recent 12 months | n/a |
| INCOMING_TRANSACTION | If incoming transaction is above/below the provided threshold | 400 GBP |
| INSURANCE_TRANSACTION | If insurance payments detected in most recent 12 months | n/a |
| MORTGAGE_RENT_TRANSACTION | If mortgage/rent payments detected in most recent 12 months | n/a |
| NEW_DEBT_TRANSACTION | If new loan income received in most recent 6 months | n/a |
| NEW_EMPLOYER_TRANSACTION | If new salary group in most recent 3 months | n/a |
| OUTGOING_TRANSACTION | If incoming transaction is above/below the provided threshold | 400 GBP |
| OUT_OF_WORK_BENEFITS_TRANSACTION | If out of work benefits in most recent 3 months | n/a |
| PAYDAY_LOAN_TRANSACTION | If new payday loan income received in most recent 6 months | n/a |
| PENSION_MISSING | Pension transactions are not detected in most recent complete month but available in the month previous | n/a |
| SALARY_MISSING | Salary transactions are not detected in most recent complete month but available in the month previous | n/a |
| SAVINGS_INVESTMENT_TRANSACTION | If savings/investments payments detected in most recent 12 months | n/a |
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