US Patent 11379501 Hierarchical classification of transaction data

Methods, systems and computer program products implementing hierarchical classification techniques are disclosed. A hierarchical classification system receives training data including labeled transaction records. The system determines tag sequences from the training data. The system clusters the tag sequences into clusters. The system determines a cluster-level classifier that is trained to predict a cluster for an input transaction record. The system determines a respective cluster-specific classifier for each cluster. The system trains the cluster-specific classifier to predict a label of entity of interest for an input transaction record, given a particular cluster. Upon receiving a test transaction record, the system first applies the cluster-level classifier to determine a particular cluster for the test transaction record, and then determines a label of entity of interest of the test transaction record by applying a cluster-specific classifier of that particular cluster.