FinGoal teams up with Quiltt for transaction enrichment

09 Apr 2024

FinGoal, a provider of advanced transaction enrichment solutions, has formed a strategic partnership with Quiltt, a unified API platform for Open Banking, to simplify financial data management and improve user experiences across financial applications.

By combining FinGoal’s transaction enrichment capabilities with Quiltt’s comprehensive API, developers and builders will be able to offer users a “more insightful and personalised” financial experience across the Open Banking data access providers supported by Quiltt.

Chief executive officer of FinGoal, David Nohe, said: “Our friends at Quiltt have made this really beautiful API layer that allows the developer to link and connect to just one single unified API and then orchestrate the way that the data moves through.

“So, no matter which users are linking through which aggregator, all of that transaction data can then be funnelled through FinGoal to clean it up, normalise it, determine what the customer needs next – without having to build any extra integrations.”

Financial service providers using the Quiltt platform can now integrate FinGoal’s transaction enrichment features.

“The FinGoal team is solving a huge problem in the financial data space by turning transaction data – the lifeblood of modern fintech experiences – into actionable context and signals,” Ruben Izmailyan, chief executive officer of Quiltt, added.

“What’s really magical about FinGoal is the profile-level insights. Imagine being able to tell if your user may be shopping for a car, or that they like to travel internationally, without having to build sophisticated models in-house – available out of the box, just from their transaction data, no matter where it comes from.”

Last year, Quiltt launched Quiltt Hub, which is a dashboard designed to address the “complexity” of managing multiple business bank accounts by consolidating them into a single view.

Quiltt initially built the Hub to help it navigate the Silicon Valley Bank crisis in early 2023.