Don’t let internal transfers ruin your day. Better reporting, and better results.

Posted by Rick Meredith on 2020-09-16 15:09 AEST
Rick Meredith
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Ever been tripped up by transaction reports that don’t make a clear distinction between a spend or income transaction and an internal transfer between a customer’s accounts? When accuracy and quality are critical, this issue can contribute to compliance breaches, flawed risk assessments and increased cases of fraud.


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Say your client’s regular salary payment (let’s use $1,000 for an example) gets deposited into their primary account, and they then transfer half of that into another of their accounts. We intuitively understand this doesn’t mean they’ve now received $1,500 in income, but automated systems often lack the capacity to distinguish this, and can produce misleading results.

Depending on the context, internal transfers can mean different things. For example, a transfer to another transaction account is meaningless in terms of its effect on income and spend, however if that other account is a loan or credit card, the transfer has meaning as a repayment of debt. If transfers are not specifically managed for in transaction analysis, the risk of error is high and manually managing this risk means longer credit assessment times and more errors.

At Credit Sense, we specifically manage for internal transfers. Our technology identifies, traces and reconciles internal transfers between customer accounts, enabling our analysis to treat them appropriately - every time. And the good news is there’s nothing you need to do – no opt-ins, no buttons to click – it’s  baked into all standard and custom analytics we provide.

Calculations with clarity

With internal transfer management baked-in, you can trust that you’re seeing the most accurate and reliable income and expense analysis available. Your credit assessment becomes less complicated and you can get an accurate and consistent outcome faster.

Analysis is our thing. Our industry-leading reports measure exactly what you want to know and give you the power to automate and simplify your processes. At Credit Sense, we can help you take the guesswork out of making decisions and give you more confidence in the data you work with. Find out more about how we can help your team and get in touch with us today.

Topics: Credit Sense, New Zealand, Australia, Canada