Transaction Data Enrichment

Transaction Data Enrichment (TDE) provides consumers with greater clarity into their financial transactions. Powered by Envestnet | Yodlee’s proprietary machine learning engine, TDE augments and refines financial transaction data by adding a simple description, merchant name, category, and geolocation in a contextualized manner based on learnings from millions of transactions. 

Benefits

  • Transaction Clarity
    • Plain-language transaction descriptions are easily read and understood by the end user.
    • User experience and customer engagement is improved.
    • FI’s call center costs are reduced, due to fewer calls from consumers regarding unrecognizable transactions.
  • Contextualized Data
    • Transactions are categorized based on context, rather than simple keyword matches.
    • For example, the system can accurately identify refunds, purchases, payroll, and credit card payments, all referencing the same transacting entity.
  • Building Blocks for Data Insights and Financial Wellness
    • Each user’s transaction data are multi-faceted to facilitate data analysis.
    • Derivation of consumer insights to serve targeted advertising and user experience personalization.
    • Provides meaningful, structured information that may be funneled through and displayed by several other apps to help the user in their journey to financial wellness.
  • Business Transaction Enrichment
    • Identification of personal and business transactions in business accounts.
    • Business transactions are additionally enriched with business categories, in addition to granular/master and high level categorization available so far.

Supported Transaction Categories

To view the list of the supported transaction categories, refer to Retail Transaction Categories and Business Transaction Categories.

Where can you find TDE Data?

TDE is supported through the GET transactions API. The attributes derived via TDE are listed below.

# Field Description
1 Category Contextual transaction category
2 Merchant Name of the merchant or financial entity associated with the transaction
3 Simple Description An easy-to-understand, plain-language transaction description derived from original, abbreviated, and, sometimes cryptic, transaction description
4 Type An attribute describing the nature of the intent behind the transaction, some examples being payments, purchases, charges & fees, etc.
5 Sub-Type A more detailed classification that provides further information on the type of transaction; examples include purchases, payments, etc.
6 Address* The street address of the merchant associated with the transaction.
7 City* The name of the city where the merchant is located.
8 State* The name of the state where the merchant is located.
9 ZIP* The ZIP code where the merchant is located.
10 Country* The name of the country where the merchant is located.
11 Classification Indicates if the transaction is classified as a business transaction.
Note: Available only if business transaction enrichment is enabled.
12 Business Category The name of the business category.
Note: Available only if business transaction enrichment is enabled.

*Limited coverage.

The population of TDE-enriched geo fields will vary according to the availability of information in the transaction description. TDE data elements are not available by default, please contact Yodlee Sales to start receiving TDE data for your transactions. TDE is currently available for bank and card accounts and for the United States, United Kingdom, and Australia.