Providing Transaction Data Clarity
Financial institutions are more eager than ever to deliver customized and personalized offerings to their customers based on real-time customer insights. By harnessing the power of customer account and transaction data, financial institutions can create personalized customer experiences and offerings that meet real-time customer needs both online and offline.
New innovations in transaction data analytics can provide financial institutions with simple and accurate account and transaction data feeds that allow banks to understand and contextualize their customer spending trends and better identify, target and cross-sell their offerings.
Transaction data is something that touches nearly every financial application, website, and mobile app. By presenting it in a clear way, with categorization and context, your financial institution can dramatically improve the customer experience, reduce support costs, and gain the insight needed to deliver personal and pertinent product and services offers.
By bringing clear, understandable transactions to your customers and internal employees, across all lines of business, you can change the game.
Bringing Clarity to Transaction Data
Envestnet® | Yodlee® has brought clarity to unclear transaction data. This solution takes confusing, jumbled transaction data and translates it into clear, easy-to-read information, with a merchant name, date, amount, and a simple description of the transaction.
Using machine learning algorithms and Envestnet | Yodlee’s unmatched network of transaction data, Yodlee Transaction Data Enrichment is able to recognize and precisely categorize nearly any transaction. As a result, customers are engaged, rather than frustrated. Call-center and fraud-chain costs are reduced, and internal teams such as sales and marketing are empowered with categorized and contextualized information that can be leveraged for targeted promotional offers.
Use Envestnet | Yodlee Data Clarity to Provide:
- Simple transaction descriptions including the merchant name and category for every transaction
- Clarification on unidentifiable purchases and decreases support and fraud research costs
- Improve user experience and bank statements with clean and clear transaction listings
- Contextual transaction data for easier analysis
- Rich insights into customer share of wallet and spending behavior to offer personalize promotional offerings
- Get more information on Transaction Data Enrichment
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