iCard, a fintech company delivering innovative end-to-end payment solutions, and Snowdrop Solutions, a leading provider of location-enhanced transaction enrichment solutions, have joined forces through the Visa Fintech Partner Connect program to elevate its customer experience through the implementation of the cutting-edge transaction data enrichment technology.
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 unparalleled 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 the first e-money institution in Bulgaria to offer this innovative solution through Visa, setting new standards in the financial industry.
“We are excited 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”, said Ken Hart, CEO of Snowdrop Solutions. "This collaboration shows our 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.
“This partnership with Snowdrop Solutions allows us to offer our customers an unparalleled level of transaction data enrichment”, said Gabriela Anastasova, Chief Product Officer of iCard. “One of the meaningful advantages of the iCard app for our retail banking customers is the ability to see enhanced details of their transactions. Now, with the implemented Snowdrop’s MRS API, we 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 program 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.