Case Study: Finqware achieves faster, more accurate transaction labeling with Zitec’s GenAI solution

Finqware boosts transaction labeling accuracy to 91.3% with Zitec

Finqware, a provider of real-time treasury and open banking infrastructure, faced the challenge of manually tagging and classifying banking transactions across multiple banks and geographies. Their legacy rule-based systems were difficult to maintain and could not scale effectively. They partnered with vendor Zitec to develop a GenAI-powered automated solution for this complex task.

Zitec implemented a proof of concept built on Google Cloud Platform, leveraging Gemini AI models for automated transaction labeling. The solution processed millions of transactions, with the Gemini 1.5 Pro model achieving 91.3% accuracy and an average processing time of 3.19 seconds. This provided Finqware with a scalable, intelligent system that significantly reduced manual effort and improved real-time financial visibility for its clients.

Finqware