Transaction Data Enrichment

Create Exceptional Customer Experiences with Transactional Data Enrichment

Consumer transactions are the most insightful data that institutions can harness to learn about their customers. Yet, financial transactional data is often unintelligible, cluttered with letters, numbers, and symbols that make it difficult for financial institutions to use the data to understand and connect with customers.

Consumers also find it difficult to identify their own transactions, leading to increased customer support calls and high labor and fraud research costs.

Reduce support costs. Identify sales opportunities.

Envestnet® | Yodlee® Transaction Data Enrichment services changes the game by taking confusing transaction data and translating it into clear, easy-to-read information. Consumers not only see a clear merchant name, date, and amount, but they also get additional context—including a simple description of the transaction and category. The information is categorized and contextualized based on the learnings of millions upon millions of transactions contained in the Envestnet | Yodlee Financial Data Platform.

The clarified data can reduce call-center and fraud-chain costs. It can also be used to understand customer spending and saving habits, payment preferences, share of wallet, and even what financial services are best suited for specific customer segments. Empowered with enriched and contextualized information, Yodlee Transaction Data Enrichment makes it easy for your sales, marketing, and other internal teams to identify cross-sell and upsell opportunities, target the right customers with the right campaigns and promotions, and engage with customers in a more meaningful way.

Yodlee Transaction Enrichment is available through Envestnet | Yodlee’s fully hosted FinApps® and APIs, and can also be delivered through the Data as a Service (DaaS) file-to-file method. Contact us to learn more or read up on our Transaction Clarity Solution.

Envestnet | Yodlee Transaction Data Enrichment

Turn confusing transaction data into clear, easy-to-read information for reduced call-center, fraud-chain costs, easy analysis, and increased insight that can be used to create targeted promotional offers.

Key Benefits

  • Delivers a simple description, merchant name, and category for every transaction
  • Clarifies unidentifiable purchases and decreases support and fraud research costs
  • Improves UX and bank statements with clean and clear transaction listings
  • Puts transactions into context for easier analysis
  • Provides rich insights into customer share of wallet and spending behavior
  • Supports digital and non-digital applications and uses
  • Flexible delivery via apps, APIs, and DaaS models