Norwegian financial services provider Bulder Bank has launched new enriched data transaction services for their retail banking customers.
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Powered by Snowdrop’s Merchant Reconciliation System™ API the new service transforms previously messy payment data and instead returns enhanced and intuitive information that displays the clean merchant name, the matching logo (if appropriate) and category.
Known as MRS, the service also provides more details such as the precise location of the merchant on a map, directions to get there, StreetView imagery, opening hours, contact details, etc. Finally, customers can also receive the information above from the bank as a real-time notification – useful to help fight fraud when the location of a transaction looks suspect.
The service, a first in Norway, is available to all Bulder Bank customers initially via the bank’s mobile app. Besides helping users to visualise and manage their spending habits, the service is expected to also lower customer centre and operational costs for the bank.
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“We know that customers want a better overview and insight into their transactions. The MRS service from Snowdrop responds to both parameters and will provide the customer with improved information about their payments,” said Pål Nielsen, Head of Product Development at Bulder Bank.
The team at Bulder Bank quickly integrated the Snowdrop MRS API in just a few weeks. MRS is an API that runs securely, reliably and scalably with Google Maps and Cloud Platform, delivering near real-time results whilst being able to process billions of transactions.
“We are excited about partnering with such an innovative and agile bank,” said Ken Hart, founder and CEO of Snowdrop Solutions. “We continue to share best practices from our wide number of deployments with them, and look forward to working together on new initiatives such as ESG and sustainability in the coming months“, he added.
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