What is COCO?

COCO is a modular platform that uses artificial intelligence to categorize and enrich transaction banking data in order to harness its full potential.

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“Our work consists of improving the customer journey, creating ecosystems of services that facilitate users' daily life and help build loyalty.”

Co-founder and CTO of Coinscrap Finance.

An AI that categorizes financial data

artificial intelligence

COCO uses Natural Language Processing and Machine Learning to understand customer transaction data and categorize it with 96% accuracy. It has been developed in collaboration with a research group from the University of Vigo and, thanks to it, we create innovative tools that are changing the financial landscape.

With them we manage to increase customers’ loyalty, helping users to improve their financial health, while the entities see their profits increase. The high efficiency of our categorizer allows us to discover valuable insights with which to launch recommendations to end customers at the right time, suggesting hyper-personalized products and services that they really need.

All our developments are based on behavioral finance principles, which are of great importance when creating predictive models that help banks make the best decisions, based on data.

More than 17 categories and 120 subcategories

COCO as a
banking technology

Our own Artificial Intelligence engine integrates into the digital platform of banks on-cloud, on-premise or via SaaS. Due to open banking, it can connect all customer accounts and access their transactions.

Then, It structures all this information into 17 categories and more than 120 subcategories. Thus, entities can know users in detail and offer hyper-personalized products, services, offers and messages.

Thanks to this powerful development
We have created other innovative products

COCO, banking Artificial Intelligence

How COCO's AI helps banks

Users’ banking transactions generate millions of data that, if unprocessed, can be impossible to understand. Thanks to the arrival of Artificial Intelligence in the banking sector, entities can analyze, categorize and enrich this information to create their own use cases. If the average age of your customers continues to increase, it’s time to look for innovative solutions that attract millennials and zoomers.

By accessing this information, companies discover needs and create customer typologies to launch hyper-personalized products and communications. The best part is being able to do it at the right time and ahead of the competition. Offer insurance before the expiration date or create an investment opportunity alert in case your customer receives an extra income.

The main use cases for banking

How COCO technology is integrated into a bank's digital environment

Our software is integrated into the digital platform of banks in a simple way and at a reduced cost. Moreover, we work with the main open banking aggregators in the world to guarantee global coverage. This system can be consumed on premise -through its installation on the entity’s servers-, from a private cloud or from the Coinscrap Finance cloud. It is totally flexible and multi-language.

Our team can launch a project within weeks of the initial kick off. We are defined by agility and customization, which includes adapting our innovative modules to the interface of the bank so that the user can enjoy the best digital experience in the financial sector. We achieve these results due to the possibility of consuming any of our white label products.