Yodlee Interactive is launching a private beta programme that will marry its transactional data with geo-location information in an effort to make app offerings more personalised.
Yodlee Interactive's cross-platform API gives entrepreneurs access to over 12,000 global financial data sources, covering areas such as bank accounts, insurance and rewards programmes.
The offering already powers more than 300 companies, with major players such as Venmo, Credit Karma, Coinbase, BillGuard tapping its consumer transactional data.
The new capabilities will provide API partners with precise geo-location data around where transactions are taking place, meaning firms will not only know how money is spent but where, allowing them to add a new layer of personalisation to their apps and services.
Yodlee says that not only will companies be able to make their recommendations more relevant to shoppers and their reward programmes more personalised, they will also get more context in expense tracking and add insight to personal finance management apps.
The private beta will involve a few Yodlee Interactive API partners, helping the company's artificial intelligence semantically improve before a full launch.
Joe Polverari, GM, Yodlee Interactive, says: "We're eager to deploy our proprietary artificial intelligence to our database of millions of consumer transactions to provide companies with additional context to take their apps to the next level."