Customer stories
Envestnet | Yodlee® is the leading data aggregation and analytics platform enabling innovation and insights for financial service providers.
Our customers — comprising traditional banks and fintech firms employing Yodlee's Merchant API — raised a crucial concern. Their user interfaces were less visually engaging due to the absence of merchant logos in the transaction data they received from our APIs. This wasn't merely about aesthetics; it directly influenced the quality of user experience and alignment with the standards set by modern fintech platforms.
Moreover, this missing visual element led to real-world difficulties. Users sometimes found it hard to recognize transactions, leading to disputes and an increase in chargebacks. This created additional operational burdens for our customers and negatively affected user satisfaction. Additionally, the support for multiple format such as PNG and SVG were critical for our use case as iOS doesn’t provide support for SVG.
Our clients were increasingly requesting merchant logos to accompany the financial information provided from our Merchant API. The absence of these logos in our interface was a significant drawback — it reduced the clarity that users needed to easily recognize transactions. Plus, we were dealing with the growing problem of chargebacks.
Michael Praveen, Principal Director at Envestnet | Yodlee
To sum up, the absence of merchant logos in transaction data was a significant issue. It affected the visual engagement of our customers' platforms, caused a rise in chargebacks, and made it a challenge to deliver a user experience consistent with progressive fintech standards.
To enable better merchant identification for our customers, we formed a strategic partnership with Brandfetch, leveraging their robust Brand API.
This collaboration allowed us to significantly enhance the data of our users' aggregated bank transactions. By identifying each merchant in a transaction and utilizing Brandfetch's comprehensive global brand registry, we could fetch the respective merchant logos and integrate them into our API response.
Our Merchant API enables our customers to build visual user interfaces
Brandfetch's powerful Brand API opened up new possibilities for us and our customers. It equipped us to create a more compelling offering, enabling our customers to build visually rich and engaging experiences on par with modern fintech platforms. Brandfetch's dedicated data team was always on hand to ensure the accuracy of the data we provided, further increasing the value of our offering.
Brandfetch’s global brand library made transactions more identifiable for our users which resulted in a reduction in customer chargebacks for our clients and improved the value of our Merchant API
Michael Praveen, Principal Director at Envestnet | Yodlee
Furthermore, Brandfetch's expertise in compliance was invaluable. They provided continuous support in navigating legal complexities which strengthened our assurance in adhering to regulations.
In conclusion, our partnership with Brandfetch allowed us to turn the Merchant Identification Dilemma into a strategic opportunity. By offering transaction data enriched with merchant logos, we empowered our customers to provide superior, user-friendly experiences, enhancing visual appeal, reducing chargebacks, and ensuring compliance.
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firebase: brandfetch-staging
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graphql: graphql.staging.brandfetch.io