FriendlyScore extracts a number of salary-related insights from transaction data. Many of these can form the basis of important use cases, such as salary verification and affordability assessments. Reliable detection of salary is therefore the crucial factor to ensure such analysis is accurate.
Due to the nuance within, and variety across salary data, standard classification procedures which work well on most other transaction classes become somewhat unreliable when identifying salary. FriendlyScore has resolved this issue using a proprietary modelling framework that uses a dedicated salary detection model to boost salary detection performance and bring it in line with general classification performance.
To begin viewing salary insights via the FriendlyScore dashboard, access the Reports page as shown below and clicking on an account that has shared data. (these are denoted by a ready button).
|Clicking on the button will take you to that individual user’s report page.|
On the user’s report page, the Employment panel containing salary metrics inferred from the underlying detected salary data of that account/user is located as shown below:
The Employment panel comprises three important salary-related endpoints inferred from the underlying transaction data:
|Average expected salary||Average monthly receipts from salary transactions over the last three months|
|Number of salaries||The number of separate salary sources detected within a 12 month period on the account|
|Next expected salary||The predicted next salary date based on historical salary patterns|
To access the complete list of classified salary data, simply scroll to the Categories of Income section of the dashboard as shown below:
To easily distinguish and access salary transactions, these are denoted separately from all other income categories. Simply click on the Salary band and a dropdown of all individual transactions which have been tagged as salary can be viewed.
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