Consumers have an average of as many as 17 subscriptions, on which they often overspend, further complicating their financial management. Products like BNPL are growing, and 66% of BNPL users who had a late payment cited losing track of a bill due date as the reason.
Actionable bill tracking requires a huge effort in ML, data science, and data engineering investment in order to:
- Detect utilities, BNPL payments, rent, subscriptions and more in transaction data
- Build models to detect recurring patterns
- Build models to predict the next bill payment date and amount