Reducing costs whilst
improving the user experience

Finactly takes (often obscure) payment references and matches them with merchant information such as trading name, phone number and address.

This data is served up through APIs to financial institutions and accounting software.

The Problem

Unexplained Bank Transactions

Australian banks are spending millions of hours each year answering transaction enquiries and settling transaction disputes.

99% of all transaction enquiries are for transactions the customer has authorised!

Even though only a small percentage of enquiries make it through to a formal dispute, Australian banks have still processed approximately 675,000 formal transaction disputes in the last year. Of these disputes roughly half are for transactions the customer has authorised but doesn’t recognise the merchant.

With the growth of payWave and online transactions, investigation and dispute related costs are increasing.

Cost Savings for Banks

AI Merchant Data Service

We provide a cloud based service which integrates with both customer and staff facing systems through APIs to enrich transaction data.

Finactly uses artificial intelligence combined with crowdsourcing to deliver rich and accurate realtime results.

The solution saves banks hundreds of thousands of dollars every year due to the reduction in transaction enquires and disputes. Costs associated with maintaining the data are minimal, as it is constantly evolving through AI and the input of users.

Small Business Owners

Xero Plugin for Merchant Information

We have given small business owners, bookkeepers and accountants access to our merchant database through a Xero Plugin.

This makes account reconciliation easier when a transaction cannot be explained, saving valuable time and money when doing the bookkeeping.

Find Out More

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The Team

Joshua Leask – CEO

Ex-Macquarie Group manager and expert in financial software solutions.
Joshua is passionate about solving customer’s problems.

Tristan Ius – BDM

Tristan is an experienced Business Development Manager with a keen focus on improving outcomes for clients