Spain-based EVO Banco has launched a geolocation service for digital purchases in partnership with Snowdrop Solutions to enhance customer insights. Through this solution, EVO Banco aims to allow customers to have a more precise and clearer analysis of the exact time and place where their transactions took place.

The solution’s features By integrating Google Maps and AI-based technologies, the bank’s clients can recognise card transactions in real-time, visualise them on a map with the logo and merchant name, automatically categorise them for a better understanding of their spending habits and finance, as well as monitor their transaction history to identify unauthorised payments. Moreover, customers can also view the sustainability footprint of all merchants that adhere to the United Nations Sustainable Development goals. Accessible to all EVO Banco customers free of charge, the service was made available through a partnership between the bank and Snowdrop Solutions, a technology company specialising in location-based data enrichment solutions. According to officials, the new service came as a response to customers’ demand for understanding the movements of their accounts. By working with Snowdrop Solutions, EVO Banco aims to solve these issues with a solution that is fully integrated into mobile banking, resulting in a more transparent and secure environment for the bank’s customers.

Representatives from Snowdrop Solutions stated that their company’s transaction enrichment API is designed to improve customers’ lives while also increasing transparency standards in the banking industry. Snowdrop Solutions’ past developments Snowdrop Solutions develops services that enable customers to deploy data-enriched solutions with precise locations. Being a Google Cloud and Maps Premier Partner, the company works with enterprises in the travel, transportation, real estate, and financial services sectors and offers mapping and UX expertise, customer care optimisation, reporting, analytics, and scalable technologies.

Snowdrop Solutions’ customers include Monzo, Ryanair, Costa Coffee, Lloyds Bank, Wirex, Monese, and Starling Bank, among others. At the end of July 2023, iCard, a Bulgaria-based fintech, partnered with Snowdrop Solutions to enhance its customer experience through transaction enrichment technology. Through this collaboration, iCard implemented the company’s transaction data enrichment API, the Snowdrop Merchant Reconciliation System (MRS), aiming to improve the accuracy, contextualisation, and analysis of transaction data for their customers. Moreover, in May 2023, GoHenry entered a collaboration with Snowdrop Solutions to improve transaction location capabilities. The partnership allows GoHenry to leverage the company’s data enrichment offering and capabilities, wanting to improve the in-application experience for its customers and members. In February 2023, BigPay upgraded its transaction categorisation abilities by partnering with Snowdrop Solutions.

Through this alliance, BigPay wanted to provide its clients with greater visibility into their spending habits, as well as to enhance financial well-being and education. .