ES
About bunq
A European challenger bank based in Amsterdam and one of the world’s first mobile-only banks. From the start in 2015, bunq has risen quickly in popularity, allowing its customers to: set up bank accounts, make payments, split checks, and transfer funds to friends all from a single mobile app. Since then, bunq expanded to all EU countries.
Focus on customer experience and speed-up innovation
The challenger bank was looking to extend its product offering with a digital service that helps customers get a better overview of their day-to-day spending
50% of mobile banking app users claim a need for a better overview of their finances. 25% admitted having a hard time controlling their spending.
“People are looking for a clear idea of what they spent and where. It’s so much easier for people to understand their spending habits when they can visually see what’s happening. While looking for a solution to this, we found Tapix. They’ve helped us give people a much better insight into their spending, and we’ve saved a tonne of time in the process. Using Tapix gave us a really high-quality product, in a very short period of time.”
Tom Bilske | Product owner at bunq
Clean & visual payments overview and transaction detail
At first, in 2018, bunq implemented Tapix's payment data enrichment resulting in clear transaction detail overview with accurate merchant name, logo, GPS, location and categorisation.
In addition to that, bunq implemented transfer enrichment based on Tapix's product portfolio extension
Data driven spending insights
At the end of 2019 bunq launched the Insights section under the "Me" tab.
bunq utilizes Tapix data also to "bulk" categorise all outgoing payments automatically. By knowing where the money is spent and having the ability to set saving goals, clients can save up to 10% without any effort.
Overview of recurring payments
In 2020 bunq introduced a new "My subscription" tab in the budgeting overview
This resulted in providing clients with one less step to achieve more saving goals.
Building healthy spending habits with CO2 footprint categorisation
Sustainability plays key role in bunq’s approach to finance. Tapix tailored it's categorisation with eco-friendly/sustainable transaction tags to fuel greener spendings.
Now, users can also gain valuable insights into the CO2footprint of their purchases through carbon calculations Tapix added withEcoTrack, going beyond the regular MCC. The aim is to enable users to make educated choices while conducting day-to-day transactions, ensuring that every purchase aligns with their sustainability goals.
Community building tip: bunq is bringing the community together by showing hot spots visited by other bunqers.
Bunq chose to integrate Tapix API in a cloud hosted version. In comparison to on premise version integration effort is minimum with no impact on infrastructure and other internal systems.
Enhanced data are stored within infrastructure of the bank where it can be accessed by all systems and applications without further interaction with Dateio.
While stored in the bank, Tapix API is automatically able to update the data and keep them up to date, increase data quality, or even allow new use cases requiring changes in data.
GDPR ready
No clients’ personal data are shared during data enrichment process, so no additional consent is required.
Dateio is ISO 27 000 certified and GDPR compliant.
90% - transactions are categorised
86% - transactions have clean merchant name
52% - localisation rate
17k – logo database
208k - recognised merchants in use
99.9%+ - data accuracy
As an entirely mobile bank, the pressures of innovating to match expectations is something that we thrive under. The mobile revolution has made a massive impact on society both in the way we communicate but also the rate at which we want our needs to be met. This is something that our partners at Dateio clearly agree on.
Ali Niknam | Founder & CEO at bunq
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Ondřej Slivka
Senior insider
