Transaction enrichment

Transform your bank statement data into actionable insights

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Overview

Transaction data is the key to providing your customers with valuable insights that can help them improve their financial wellbeing, and help your business make better decisions. However, transaction data can often be confusing for customers as well as expensive and time consuming for banks to resolve queries and glean insights from.

Using our super fast API, you can transform the customer experience while at the same time, significantly reduce costs through lower volumes of calls and chargebacks.

Transform the digital banking experience

Provide your customers with instant clarity on what, where and how much they’re spending in real-time with our multi award-winning transaction data enrichment solution.

Trusted by more than 30 banks and fintechs in Australia and now expanded to New Zealand, our solution provides high quality data in real-time, so you can truly understand bank statement data fast.

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How it works

1

You send Experian your transaction data.

2

Experian’s API takes that transaction data and maps it to our merchant details such as company trading name, logo, map, contact details, category etc.

3

Experian returns to you clean, enriched and actionable data in mere milliseconds for more valuable insights.

Trusted by more than 30 Australian banks and fintechs

As a bank, a core competency and focus is providing customers with financial services and products to suit their everyday needs, which is why our partnership with Experian is an important one. Our priority is to improve the experience for our customers and the data enrichment provided by Experian is a key enabler to improving the customer experience.”

National Australia Bank – Emily

Experian had this really innovative solution and they enabled us to provide real customer value in a relatively short time frame.

Australia and New Zealand Banking Group – Jeff

Our interaction with Experian’s team has been very effective. The engagement has been excellent, with the team able to provide prompt and efficient service to Westpac and has allowed seamless implementation

Westpac Banking Corporation – Jeff

The Experian team have been excellent to deal with. They are very responsive with fast turnaround times when they commit to delivery. The team is very knowledgeable, understood our requirements, and was adaptable when required.

Humm Group – Soleil

Experian’s Transaction Enrichment was a great solution for Latitude Financial Services’ customers to identify the merchants involved in their transactions and also get a view of those in the digital channels that they check.

Latitude Financial Services – Sarath

We see the integration of Experian data as a key stepping-stone towards being able to give our clients deep and holistic insight into their spending habits, from categorisations to predictions, and ultimately allowing them to better manage their money.

Data Action – Kevin

Benefits at a glance

Improve the customer experience

Instant clarity on what, where and how much your customers are spending in real-time.

Real-time transaction notifications

Your customers can get meaningful real-time transaction alerts to help them stay on track.

Comprehensive data

Leverage a comprehensive dataset of over 100m New Zealand transactions and growing,
linked to a detailed database of merchants.

Reduce call centre traffic

Call centre traffic due to “transaction not recognised” queries may be reduced by up to 50%.

Reduce chargebacks

Chargebacks due to “transaction not recognised” queries may be reduced by up to 25%.

Easy implementation

API driven so the solution can be seamlessly integrated with your existing digital applications.

Case Studies

Learn more about how these Australian banks and fintechs transformed their digital banking with Experian Transaction Enrichment.

National Australia Bank

How an Australian-first partnership became an industry standard.

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ANZ Banking Group

A world-leading partnership for a global problem.

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Data Action

One step closer to self-service for Australia’s mutual banks.

Read now

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