Envestnet | Yodlee announced today a new addition to their cloud-based data platform: Transaction Data Enrichment that provides consumers with greater clarity into their financial transactions.
Understanding transactions can be hard for new companies that lack the resources for a full-scale data integration platform. They also tend to rely on customer service departments that aren’t equipped for data analysis.
Thus, a lot of data from this type of problem-solving usually goes unknown to the executives that can make significant improvements within their companies.
Using a quick and organized Data-as-a-Service tool, the Envestnet | Yodlee Transaction Data Enrichment provides clear and detailed discernment for financial deals.
Envestnet | Yodlee Vice President of Product Management Lori Martel said of the new data suite “Consumer transactions are the most insightful data that financial service providers can harness to learn about their customers. Accurate transaction classification is vital in understanding spending and saving habits, payment preferences, and share of wallet to personalize the customer experience. Until now, financial institutions and FinTech innovators had no way to clearly contextualize transaction data.”
The platform recognizes specific details and patterns entailed within financial deals, personalizes its information to provide the user what only he or she wants, and is usable throughout different applications and files.
“With contextualized transaction data, financial service providers can offer a more customized and engaging online banking experience through web and mobile applications,” said Martel.
Source: Benzinga
Posted by: The Trust Advisor
Permalink: http://thetrustadvisor.com/news/envestnet-yodlees-is-making-customer-data-collection-easier
