Insights

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 InsightHigh-Level Description
Cashflow SummaryMetrics such as average, historical and future predicted values.
Top Recurring TransactionsMost significant transaction groups for incomes and expenditures in the last 12 months
Recurring Income StabilityDisplays metrics for recurring incomes available in the most recent 3 months of transaction data
Financial MarkersThese are metrics for which the number of incidents, total amounts and proportion to income are provided.
Financial IndicatorsThese are important flags highlighting key account activity.
Events and AlertsIt 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 & forecastShows the historical daily balances and 90-day predicted forecasts of daily balance
Income & Expenditure AnalysisBreakdown of monthly income and expenditure patterns

Accessing Insights

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.

Cashflow Summary

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.

MetricDescription
Affordability ThresholdThe next expected amount of Monthly Affordability
Predicted Monthly IncomeThe next expected amount of Total Monthly Income
Predicted Recurring IncomeThe next expected amount of Total Monthly Recurring Income
Predicted Fixed CostsThe next expected amount of Monthly Fixed Costs. Please contact with us to get the list of the included cost categories.
Predicted Flexible CostsThe next expected amount of Monthly Flexible Costs. Please contact with us to get the list of the included cost categories.
Average AffordabilityAverage value for the last 12 months
Average IncomeAverage value for the last 12 months
Average BalanceAverage value for the last 12 months
Average Fixed CostsAverage value for the last 12 months
Average Flexible CostsAverage value for the last 12 months

Top Recurring Transactions

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

MetricDescription
Amount ConsistencyDetermines how consistent are the monthly amounts within the group. 100 means the values are the same.
RegularityDetermines how regular in time are transaction to each other. 100 means exactly the same period of time between transactions.
LongevityDetermines for how long we have transactions in the group. 100 means the transactions occur in each of the last 12 months.

Recurring Income Stability

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

MetricDescription
Expected amountThe next expected amount for this group of income
Expected Pay dateThe next date to receive the income payment
FrequencyThe frequency of payment. Allowed values are Monthly, Fortnightly, Weekly, Daily, Irregular
Amount ConsistencyDetermines how consistent are the monthly amounts within the group. 100 means the values are the same.
RegularityDetermines how regular in time are transaction to each other. 100 means exactly the same period of time between transactions.
LongevityDetermines for how long we have transactions in the group. 100 means the transactions occur in each of the last 12 months.

Financial Insights

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.

Personal Accounts

The Financial Insights section of the customer report for personal accounts is divided into three distinct panels as follows:

PanelDescription
1. Financial MarkersThese are important metrics for which the number of incidents, total amounts and proportion to income are provided.
2. Financial IndicatorsThese are important flags highlighting key account activity.
3. Events FeedIt 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.

Business Accounts

The Financial Insights panel for business accounts is divided into two sections:

PanelDescription
1. Financial MarkersThese are important metrics for which the number of incidents, total amounts and proportion to income are provided.
2. Financial IndicatorsThese 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.

Balance History and Forecast

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.

Income and Expenditure Analysis

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.

Data Dictionary

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.

FeatureDescriptionPersonalBusiness
Credit RepaymentsNumber of incidents, total amounts and percentage of income for credit repayment transactions.yesyes
Loan IncomeNumber of incidents, total amounts and percentage of income for loan income transactions excluding payday loansyesno
Payday Loan IncomeNumber of incidents, total amounts and percentage of income for payday loan transactionsyesno
GamblingNumber of incidents, total amounts and percentage of income for gambling transactionsyesno
Cash WithdrawalsNumber of incidents, total amounts and percentage of income for cash withdrawal transactionsyesno
Bank ChargesNumber of incidents, total amounts and percentage of income for Bank charges transactionsyesyes
Returned Direct DebitsNumber of incidents, total amounts and percentage of income for returned payment transactionsyesyes
New DebtPresence of a new debt product on the customer’s accountyesyes
Payday LoansPresence of incoming Payday loan product on the customer’s accountyesno
Buy Now Pay LaterPresence of any payments to a buy now pay later service provider on the customer’s accountyesno
Debt ManagementPresence of any payments to a debt collection, recoveries or management company on the customer’s accountsyesyes
New EmployerDetection of a new employer, inferred through transaction datayesno
Possible Loss of IncomeDetection of a significant drop in month-to-month incomeyesno
Out of Work BenefitsPresence of any out-of-work related benefits such as Jobseekers Allowance on the customers accountsyesno
Child BenefitsPresence of any child benefit payments on the customer’s accountsyesno
High Cost Short Term CreditPresence of high cost short term credit repayments on the customer's accounts, such as payday loansnoyes
Recent AccountIndicator denoting whether the account is newyesyes
InsurancePresence of any insurance payments on the customer’s accountsyesno
Council TaxPresence of any council tax payments on the customer’s accountsyesno
Mortgage/RentPresence of any mortgage/rent payments on the customer’s accountsyesyes
InvestmentsPresence of any savings & investment payments on the customer’s accountsyesno
Negative Balance RatioThe percentage of time the user spends with a negative total balanceyesyes

Events Dictionary

Events and Alerts are an extension to the Financial Indicators. Events consists of title, description, amount, time.

Event TypeRule DescriptionDefault Threshold
BALANCE_NEGATIVEThe most recent daily balance is below 0 compared to the previous day0 GBP
BALANCE_THRESHOLDThe most recent daily balance is above/below the threshold compared to the previous day2000 GBP
BENEFITS_MISSINGBenefits transactions are not detected in most recent complete month but available in the month previousn/a
BNPL_TRANSACTIONIf buy now pay later payments detected in most recent 3 monthsn/a
CHILD_BENEFITS_TRANSACTIONIf child benefits payments detected most recent 3 monthsn/a
COUNCIL_TAX_TRANSACTIONIf council tax payments detected in most recent 12 monthsn/a
DEBT_MANAGEMENT_TRANSACTIONIf debt management/collection activity in most recent 12 monthsn/a
INCOMING_TRANSACTIONIf incoming transaction is above/below the provided threshold400 GBP
INSURANCE_TRANSACTIONIf insurance payments detected in most recent 12 monthsn/a
MORTGAGE_RENT_TRANSACTIONIf mortgage/rent payments detected in most recent 12 monthsn/a
NEW_DEBT_TRANSACTIONIf new loan income received in most recent 6 monthsn/a
NEW_EMPLOYER_TRANSACTIONIf new salary group in most recent 3 monthsn/a
OUTGOING_TRANSACTIONIf incoming transaction is above/below the provided threshold400 GBP
OUT_OF_WORK_BENEFITS_TRANSACTIONIf out of work benefits in most recent 3 monthsn/a
PAYDAY_LOAN_TRANSACTIONIf new payday loan income received in most recent 6 monthsn/a
PENSION_MISSINGPension transactions are not detected in most recent complete month but available in the month previousn/a
SALARY_MISSINGSalary transactions are not detected in most recent complete month but available in the month previousn/a
SAVINGS_INVESTMENT_TRANSACTIONIf savings/investments payments detected in most recent 12 monthsn/a

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