Jack Henry today announced the successful rollout of its native transaction enrichment capabilities on the Banno Digital Platform™, delivered in collaboration with Bud Financial (“Bud”).
The collaboration enables banks and credit unions on the Banno platform to deliver clear transaction details to their accountholders, improving everyday money management and empowering financial institutions with high-quality data.
With evolving spending patterns and ongoing financial challenges and opportunities, gaining a firm grasp on individual finances is more important than ever. Understanding financial transactions is essential for both financial institutions and their accountholders. As a first step in expanding its enrichment offerings, Jack Henry integrated Bud’s Enrich product into Banno to provide high-quality transaction categorization and merchant detection with exceptional accuracy and speed. This enhancement helps the Banno platform deliver even more user value while giving financial institutions actionable data to personalize experiences and inform decisions.
“Integrating this capability into Banno gives clients clearer visibility into spending behaviors and merchant activity, enabling them to deliver more relevant and trusted experiences,” said Julie Morlan, Assistant Vice President of Core and Digital Product Management at Jack Henry. “Enrichment technology is imperative as we continue to evolve our human-focused user experience that provides the most intuitive and immediately insightful experience possible.”
“Bud was founded to make financial data truly useful,” said Edward Maslaveckas, CEO of Bud. “We’re thrilled to work with Jack Henry to bring our transaction enrichment to Banno. Together, we’re equipping banks and credit unions with cleaner, smarter transaction data so they can deliver intuitive digital experiences today and unlock powerful data-driven opportunities tomorrow.”
With native Transaction Enrichment available on-request to Banno customers, financial institutions can expect:
- Market-leading categorization, providing instant understanding of each transaction
- High-accuracy merchant identification that adds insight and reduces uncertainty
- Broad coverage designed to cover all types of financial transactions, from discretionary spending to income
Stay Ahead of the Financial Curve with Our Latest Fintech News Updates!
