Fighting crime with Transformers: Empirical analysis of address parsing methods in payment data

arXiv:2404.05632v1 Announce Type: new
Abstract: In the financial industry, identifying the location of parties involved in payments is a major challenge in the context of various regulatory requirements. For this purpose address parsing entails extracting fields such as street, postal code, or country from free text message attributes. While payment processing platforms are updating their standards with more structured formats such as SWIFT with ISO 20022, address parsing remains essential for a considerable volume of messages. With the emergence of …

abstract analysis arxiv challenge code context country crime cs.cl data fields financial financial industry free industry location major parsing parties payment payments regulatory requirements street text transformers type