Payment Industry Blog

With technology slowly progressing, data is starting to be at the heart of every transaction, decision, and strategy within banking. Whether it’s recommending financial products to users or automating decision-making processes, banks rely on data to understand their customers and provide a fluid experience. But what happens when the data is inaccurate?

Our data team leader Adam highlighted 6 reasons to work at Dateio. There is no easy one-size-fits-all solution to our problem. It's not about being given a clear brief and having a process to get there.

Digital banking is more than just keeping up with technology - it's about understanding what customers need and delivering real value. Michal Plzák, Head of Digital Banking at Raiffeisenbank Czech Republic, has been doing just that for over 20 years.

Today, convenience and instant access to information is what makes or breaks the service. Banking has transitioned from paper statements and bank tellers to smooth digital experiences. A bank's primary touchpoint with its customers is through transaction detail – a very core of financial transparency and personal finance management. But what makes transaction details insightful and why do they matter so much?

For many decades, credit scoring has built the foundation of financial risk assessment and provided banks and other financial institutions with a quantitative view of a borrower's creditworthiness. Traditionally, credit scores are derived from a combination of factors that include payment history, credit utilisation, the length of credit history, types of credit used, and recent credit inquiries. These data points offer a very narrow window into the financial behaviour of a borrower and often lead to misjudgments in lending decisions. A modern answer to this is smart data. Or, more precisely, enriched data.

Following the updates to the AI Act, it’s essential for banks to ensure their AI systems comply with these new regulations. This guide breaks down the process into manageable steps, making it straightforward for digital banking experts to follow and ensure compliance.

Automated Teller Machines have evolved significantly since their introduction in the 1960s. Initially designed to dispense cash outside banking hours, ATMs now offer a range of services, from depositing checks to transferring money between accounts. Today, there are over 3.5 million ATMs worldwide that are visited by users on average at least 8-10 times a month. Even cryptocurrency ATMs are on the rise, with more than 39 000 used worldwide.

With the implementation of the EU AI Act providing a regulatory framework for ethical and responsible AI adoption, banks and financial institutions are starting to pay close attention. What exactly is AI used for in modern banking? Let's look into different use cases and what it means for banks.

Swisscard partnered with Tapix to comply with Mastercard AN4569, seizing the opportunity to redefine the user experience while meeting industry standards. As a key player in the financial sector, Swisscard recognised the importance of adhering to the stringent requirements of Mastercard AN4569 and chose Tapix as their solution partner. This strategic decision ensured compliance but also transformed the way their customers engage with transaction data.

Chatbots and digital assistants are one of the emerging trends in the digital banking industry. According to Juniper research, over 80% of banks are now using some form of chatbot in customer service. Lately, more and more banks are also starting to shift to more analytical usage, such as personal assistant, which reshapes the user experience, offering personalised financial advice and assistance at the touch of a button. But every good analysis needs a well structured and organised data first.

Every project in the digital banking market begins with a solution capability check. A concept that helps financial companies find the best solution for a specific use case while cooperating with the data enrichment provider that is most suitable for their needs.

Every transaction, every single tap with a credit card creates a stream of 0 and 1, and the ability to extract meaningful insights from that data is a key differentiator for banks and fintech companies.

Twisto is a FinTech that enables their clients to shop now and pay later when it suits them. Thanks to the implementation of Tapix, Twisto users can additionally review their expenses and check where the purchase was made.

bunq - the Dutch challenger bank was struggling to achieve a high coverage of merchant reconciliation. Learn more about how Tapix helped them through payment data enhancement.

Today, data is more than just information. It is a strategic asset that can unlock the immense value behind it. The aphorism that data is the gold of the 21st century applies here. One area where this trend is particularly evident is the world of payment data.

In an exciting move towards promoting sustainable practices and empowering users to make eco-conscious decisions, bunq has successfully integrated Dateio's latest product, Tapix EcoTrack, into its banking app. This integration marks a significant step forward in fostering collaboration between two industry leaders and revolutionizing the way consumers engage with their carbon footprint.

The market for digital lending from non-bank credit card issuers and fintech firms is becoming increasingly popular among consumers. It is a modern and innovative form of financing that provides a faster and more accessible alternative to traditional methods. The long queues at bank branches have come to an end. Customers want a loan in a few clicks and they want a card full of benefits to go with it. The BNPL trend with players like Klarna, Zip and Twisto shows this. 

Today, Tapix is excited to announce its partnership with Reflect, the first neobank in Jordan. This partnership will bring Tapix's enriched payment data to Reflect's App users, providing a better customer experience and better control of their money. Enriched payment data brings valuable insights into customer behavior, which can help banks like Reflect offer better services to their users.