Payment Industry Blog

Deblock, founded by Revolut alumni and based between London and Lille, is creating a new kind of account - combining traditional banking features with a non-custodial crypto wallet. With full EEA coverage and a newly secured banking license, the company is scaling fast.

Tracking financial flows is one of the key elements of banking, and payment data enrichment is becoming an increasingly important tool for banks to improve their services and minimise risk. In this article, we look at why it is so important in banking and how to choose a transaction data enrichment API.

She wanted to work in a startup and change the world around her. The idea took root during her Erasmus exchange in Finland, which she joined while studying at the Prague University of Economics and Business. Still a student at the time, Kateřina Linhartová joined the fintech company Dateio as an intern.

Enhancing transaction data is essential because it helps the customers know more about their transactions through insights and additional data, which helps them make smart decisions about their financial lives and build trust with their bank, who becomes their financial partner on the life journey.

You’re scrolling through your bank app, trying to remember what that $33 charge was. The line says “ESO PETROL TURDA DEP”. Was that lunch? A carsharing? Did someone clone your card? You tap. You Google it. Eventually, you give up - or worse, call customer service.

Customer expectations in digital banking have evolved pretty significantly in recent years. Gone are the days when "Good morning, Alex" and a templated savings suggestion felt impressive. Today, consumers want more. They want to feel understood - not just as account holders, but as real people with complex financial habits, ambitions, and anxieties. Time for hyper-personalisation.

Launching a digital bank involves navigating regulatory complexities, making critical technology decisions, and prioritising customer-centric innovation. Partners Banka, established in the Czech Republic in December 2020, provides practical insights into this challenging yet rewarding journey.

Data is the key to understanding the customer and the long-term success of any business, so it's no wonder it's a sought-after commodity. Accurate and detailed data not only unlocks the door to further business growth, but also increases customer satisfaction.

In recent years, more and more banks and financial institutions focus on sustainability as a core component of their operations. This shift towards responsible banking (also known as ethical banking) is mostly a response to the pressing global challenges of climate change, social inequality, and environmental degradation.

It often starts small. A customer moves money into their Skrill account - nothing unusual. Just a simple transaction in the background of an otherwise quiet banking day. But hours later, that same payment is funnelled into an online casino, masked by a generic merchant category code.

Raiffeisenbank in the Czech Republic has been working with Tapix for five years to improve transaction categorisation, merchant recognition and payment enrichment. At a time when sustainability is an important topic for banks and consumers, Raiffeisenbank has integrated the Eco Track™ product to offer a view of the estimated transactional carbon footprint of payments to more than 1 million customers who actively use mobile banking.

In today’s fintech era, it’s crucial to understand how we can use our customers’ data to make better decisions and understand their needs more deeply. But how exactly can we use this data, what types of data do we have and what can we get out of it?

The more digital we become, the more online services, subscriptions and recurring payments we need to keep track of, as they become integral part of our daily lives. From streaming platforms and cloud storages to monthly fitness memberships and car payments, these automated transactions offer convenience, but at the price. Without accurate transaction data presented in a user-friendly way, managing them becomes a financial challenge - both for consumers and banking institutions.

The financial industry has undergone a pretty radical transformation in the last decade, with mobile banking becoming a primary interface between banks and their customers. As highlighted by recent research from Branch, the mobile app industry has been seeing significant growth during the past several years and this trend extends to the financial sector.

Have you ever been in a meeting or conference, nodding along as industry experts toss around terms and abbreviations that sound like a foreign language? It can feel overwhelming, especially in the financial world, where terms and slang evolves fast.

This gathering of experts and professionals not only provided a valuable opportunity for us to learn about the latest trends and developments within the industry but most importantly, our Head of Partnerships, Simon Koci, had a chance to host and moderate a panel discussion on the topic of Cooperation Between Banks and Fintechs.

User experience (UX) today goes beyond a nice-looking interface or a conveniently usable application; it is about making data actionable, intuitive, and applicable in whatever interaction is made by the user.

Today, I had the pleasure of sitting down with Mariia Lukash, Revolut’s Head of Growth for CEE - a true powerhouse in fintech with over six years of experience in digital strategy and growth. After an impressive five years at Google, where she managed portfolios for major global fintech clients, she now leads Revolut's expansion across the region.