In the highly competitive and regulated banking markets, financial institutions have to implement new, modern solutions to keep up with changing client expectations. Lack of proper transaction details can strain the bank’s resources and lead to customer dissatisfaction.
Objective
The challenge was twofold: to ensure compliance with stringent regulations and enhance customer service. This is where Neontri came into play, offering a robust solution to improve customer satisfaction through banking transaction enrichment.
Expectations
Neontri’s role was to provide a solution to add the missing information to banking transactions and proper categorization so that customers could easily identify their purchases.
Transaction data enrichment technology allows for such categorization. Moreover, transactions also get merchant logos, locations, and contact information to facilitate purchase identification for users.
Outcomes
PKO Bank Polski, the biggest Polish bank and our long-term client, expected to implement a solution that could provide customers with payment details to make it easier to identify where and when the transaction occurred. This way, customers could quickly recall their transactions thanks to data enrichment.
The aim was for the customers to identify the unknown purchases, which most likely stemmed from the lack of context in transactions.