Following this announcement, Kard integrated Snowdrop’s transaction enrichmenet solution in order to transform raw transaction data into clear, secure, and user-friendly insights. The integration aimed to clean up merchant names, as well as to eliminate confusing or incomplete transaction details.
In addition, the categorised payments will focus on optimising the manner in which users better understand their spending habits, as well as provide display merchant logos and brand icons for instant recognition. Both companies will continue to focus on meeting the needs, preferences, and demands of clients and customers, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
According to the official press release, Kard faced a challenge in the process of ensuring that customers easily recognise their transactions. In addition, the company also identified the overall need for a higher rate to improve the way it displays transaction details to its clients. With this in mind, the partnership with Snowdrop will allow teenagers to see which merchants they have transacted with their Kard app, while also ensuring account security and making it easier for parents to co-supervise the account as well.
In addition, Kard implemented Snowdrop’s Enrichment API solution and saw a significant improvement in the overall clarity of its transaction data. At the same time, with Snowdrop’s service in place, the clean merchant rate rose to over 94%, enabling clients to easily recognise and understand their spending habits. This process also aimed to boost their data transparency and lead to a stronger customer engagement, helping Kard to accelerate its development procedure in a competitive market and provide a user-focused financial app.
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