Source: Snowdrop Solutions
Hanseatic Bank now offers its customers new services in its banking app.
In cooperation with Visa and the Visa Fintech Partner Snowdrop Solutions, a solution has been implemented that shows card transactions with clear merchant names, logos, and categories. Hanseatic Bank is the first card-issuing bank in Germany to offer this solution with Visa and Snowdrop.
With the new service, Hanseatic Bank customers can access clear and intuitive information about Visa card transactions and thus get a better overview of their spending. In the Hanseatic Bank Mobile app, they can now see payment transactions clearly marked with names and logos of most merchants and displayed in different categories such as “Eating & Drinking” or “Shopping”.
“Our focus on creating special customer experiences through innovation is what sets Hanseatic Bank apart,” says Michel Billon, Managing Director at Hanseatic Bank. “We are excited about another opportunity to work closely with Visa and now fintech partner Snowdrop to offer more digital services in the future.”
“Visa is an open network that connects partners around the world and gives them access to advanced technologies. Our partnership with Hanseatic Bank and Snowdrop is an excellent example of how banking innovations add real value for customers and can be introduced quickly and cost-effectively to the German market,” says Tobias Czekalla, Country Manager Germany at Visa. Snowdrop Solutions is an official partner in the Visa Fintech Partner Connect program, where Visa connects its bank clients with fintech partners to jointly bring next-generation payment and banking solutions to consumers.
The new service is based on Snowdrop Solutions’ Merchant Reconciliation System (MRS) technology, which enables cardholders to better track where exactly they spend their money. With clear merchant names and associated logos, they get a better visual understanding of their card transactions and spending habits. Optionally, further details on transactions can also be accessed. Hanseatic Bank is bringing MRS technology to Germany for the first time with Visa and Snowdrop Solutions.
“We are pleased to work with such an innovative bank that puts the customer experience front and centre,” said Ken Hart, Founder and CEO of Snowdrop Solutions. “By effectively leveraging data and location-based services, Hanseatic Bank is enabling its customers to more intuitive banking, resulting in higher customer satisfaction and a positive impact on administrative costs. From our experience in the UK, we know that our solutions have contributed to reduced transaction query calls made to customer service teams by up to 30 percent.”
In close cooperation with Visa and Snowdrop Solutions, Hanseatic Bank plans to continuously expand the service offering in its banking app, for example by displaying the geographical locations of individual transactions on a digital map. In addition, the service provided by Snowdrop Solutions creates the foundation for future offerings in the areas of spending management and sustainability, such as the option to provide clients with information on the environmental footprint of their spending behaviour, which is made possible through the cooperation with the Visa Fintech network. This is all part of Hanseatic Bank’s strategy to develop innovative and customised financial solutions that delight clients and partners alike.