Bill Tracking

Use Case: Bill Tracking

Problem

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

How we help:

Bill and Subscription Detection

Instead of relying on a consumers’ self-report of what bills they have and when they pay them, Pave allows you to:

  • Track recurring bills and predict the next bill date and amount.
  • Receive a unified view of a user’s insights including bill, rent, utilities, BNPL, and subscription payments as well as repayment history.
  • Provide users with the Deposit Amount Required to keep their account from overdrafting before a bill payment.

Detect Other Financial Accounts

Oftentimes a user will connect an account that isn’t their primary account or doesn’t contain all of their bills and subscription payments. 

Pave allows you to prompt users to connect additional accounts that have been detected in transaction history to:

  • Receive a complete picture of all of their bills in one place.
  • Prompt users to connect a different account if their connected account does not have sufficient bill payment history or data.
  • Provide insights on bills and other spending behavior  by analyzing signals and behaviors across multiple connected accounts.

Embed Bill Payments within your App Experience

Users face difficulty juggling multiple bill and subscription payments, which can lead to them missing payments, or not keeping track of how much money they have in their account when a due date comes around.

Pave is partnering with bill payment solutions to make it seamless for you to embed bill payments within your app experience: