We work non-stop to provide you with the most accurate and reliable data points to better understand your users’ financial behavior. Now you can also easily identify the transactions’ merchant identity.
How much did I spend on transport this month? What’s my monthly spending on online platforms such as Netflix? These are common questions that users expect to answer when using personal finance management apps.
Yet, accurately identifying the correct source of users’ transactions is still a challenge for these companies. Our data categorization model already helps companies identify which category transactions correspond to, for example, personal shopping, transport, or online leisure.
And now, we’ve added a new feature that will make it even easier to understand where your users’ transactions are coming from.
Merchant information for transactions (beta)
Ever wanted to have information about the merchant where a transaction was made? Well, you don’t need to “want” anymore.
With our new merchant data point, you can extract the logo, URL, and name of the merchant – extremely useful for any personal finance management application.
By enabling merchant identification, you’ll be able to enrich your customers’ transactions data with standardized information about the merchant. This is especially useful for PFMs or ERPs who need to provide their end-customers with:
- More metadata about their transactions.
- Insights on their spending.
For more information, or if you want to be part of the beta program, reach out to hello@belvo.com.
More product updates!
This month we’ve also launched some new features that will make it easier for you to manage the links you create in our platform and your API keys:
Allow duplicate IDs
We’ve removed the limitation of not allowing your clients to use their credentials more than once to connect their institution with your application. This will significantly reduce the number of errors you receive and improve your users’ experience.
We still recommend you follow our link creation best practices to avoid duplicated links.
API keys for everyone!
You can now create multiple API keys per environment, meaning you can now safely and securely manage, as well as rotate, your API keys.
For more information, check out our article about how to rotate your API keys.
