“Zafin’s new service is designed to provide banks with the ability to offer their customers personalised banking experiences and to help to build customer loyalty.”
Zafin has launched a new service, Transaction Enrichment, that is designed to transform raw transaction data into contextual insights for banking customers. The new service is already being used by the Commercial Bank International (CBI) in the UAE.
Zafin’s new service uses 70 expense and income categories to which it adds merchant logos, clean merchant names, and merchant website links. It also includes an adaptive accuracy engine that uses machine learning and human feedback loops. Zafin’s partners include ING, CIBC, HSBC, Wells Fargo, PNC, and ANZ.
According to Charbel Safadi, Zafin’s CEO, “Transaction Enrichment is foundational to delivering true personalization in banking and is an integral part of a long-term strategy to improve customer relationships and personalized service. Our approach is more than just data enrichment. It enables banks to move beyond generic offers and engage and reward customers in ways that reflect their daily behaviors, financial goals, and full relationship with the ba1nk.”
Giovanni Gavino Everduin, CBI’s Chief Strategy & Innovation Officer and Head of Ventures said, “Enhancing our transaction data has helped us deliver a clearer, more intuitive digital experience for our customers. It goes beyond transparency—it’s about laying the foundation for deeper personalization and fostering a new kind of loyalty built on everyday behavior.”
CRM/CDP Topics Covered in this Article: Product Announcements, Data Unification, First Party Data, Real-Time Data Ingestion, Analytics, Customer Insights, Predictive, Omnichannel Engagement, Hyper Personalization, Financial Services, APIs.
Companies and Products Mentioned in this Article: Zafin, Transaction Enrichment, Commercial Bank International (CBI), ING, CIBC, HSBC, Wells Fargo, PNC, ANZ.
