The collaboration between Snowdrop Solutions and iCard is a significant milestone in the advancement of data-driven customer experiences. Through this partnership, iCard has implemented Snowdrop Solutions' transaction data enrichment API, the Snowdrop Merchant Reconciliation System or MRS, to enhance the accuracy, contextualisation, and analysis of transaction data for their customers.
The Snowdrop MRS API is set to transform the way iCard users track and manage their finances. Customers now will gain visibility into their spending habits, enabling them to effortlessly monitor their financial transactions with pinpoint accuracy.
Notably, the implementation of the Transaction Data Enrichment API has resulted in a 21% increase in user-clicks on the detailed transaction information. MRS seamlessly integrates clear merchant names and logos, accurate merchant location, and categorisation of the purchase and merchant contact details into each transaction, providing customers with a visually appealing overview of their financial activity.
This strategic partnership will enable iCard to be one of the first e-money institutions in Bulgaria to offer this innovative solution through the Visa Fintech Partner Connect programme, setting new standards in the financial industry.
As per Snowdrop Solutions, they are happy to forge a partnership with iCard, who are keenly aware of the importance of providing an intuitive experience for their users through transparent and reliable data. This collaboration shows their commitment to creating location-enhanced experiences for the consumers of financial service companies.
iCard recognises the importance of providing customers with comprehensive, real-time transaction information enriched with location-based services. By leveraging Snowdrop Solutions' expertise, iCard aims to further enhance its suite of financial products and services.
Also commenting on this partnership, officials from iCard said this partnership with Snowdrop Solutions allows them to offer their customers an increased level of transaction data enrichment. One of the meaningful advantages of the iCard app for their retail banking customers is the ability to see enhanced details of their transactions. Now, with the implemented Snowdrop’s MRS API, they can provide an intuitive user interface that allows clients to see rich transaction history, containing the merchant’s name and logo, as well as a map of the location where the client made the transaction for convenient payments recognition.
The Visa Fintech Partner Connect programme has facilitated this collaboration, fostering innovation and helping to drive the digital transformation of financial services. Together, Snowdrop Solutions, iCard, and Visa are paving the way for the future of enriched transaction data services.
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