Entity classification using cleansed transactions

An apparatus, comprising:

• one or more processors;
• and
• memory storing instructions that, when executed by the one or more processors, cause the apparatus to:
• obtain, from a point of sale (POS) device and via a first application programming interface (API), transaction data for a transaction comprising an entity name associated with a merchant and an entity code associated with the POS device, wherein the entity code indicates a type of product or service provided by the merchant;
• retrieve, via a second API different from the first API, a recommended entity code in a standardized format associated with the entity name;
• provide, as input to a machine learning classifier, the recommended entity code and the entity name;
• receive, as output from the machine learning classifier, a score indicating a likelihood that the recommended entity code identifies the merchant associated with the transaction data;
• update, based on the score indicating the likelihood exceeding a threshold value, the transaction data with the recommended entity code;
• store, in a remote data store, the transaction data with the recommended entity code in a database;
• generate a transaction summary comprising a category of previously conducted transactions corresponding to the recommended entity code, wherein the category of previously conducted transactions comprising the transaction;
• and
• cause to display, on a user device, of the transaction summary.

A non-transitory computer-readable medium storing instructions that, when executed by one or more processors, cause the one or more processors to perform steps comprising:

• obtaining, from a point of sale (POS) device and via a first application programming interface (API), transaction data for a transaction comprising an entity name associated with a merchant and an entity code associated with the POS device, wherein the entity code indicates a type of product or service provided by the merchant;
• retrieving, via a second API different from the first API, a recommended entity code in a standardized format associated with the entity name;
• providing, as input to a machine learning classifier, the recommended entity code and the entity name;
• receiving, as output from the machine learning classifier, a score indicating a likelihood that the recommended entity code identifies the merchant associated with the transaction data;
• updating, based on the score indicating the likelihood exceeding a threshold value, the transaction data with the recommended entity code;
• storing, in a remote data store, the transaction data with the recommended entity code in a database;
• generating a transaction summary comprising a category of previously conducted transactions corresponding to the recommended entity code, wherein the category of previously conducted transactions comprising the transaction;
• and
• causing to display, on a user device, of the transaction summary.