First Direct adds transaction feature to app with Bud

Online bank First Direct has introduced a new transaction details feature on its mobile banking app through the integration of Bud’s data enrichment capabilities. 

In 2019, HSBC announced a three-year global partnership with fintech Bud. 

This is the first time the fintech’s data functionality has been integrated into First Direct’s mobile app. 

It means that customers using the app via iOS and Android will be able to see clean merchant names, merchant logos, and transaction categories, and can select the transaction they want to see more details on, including company name, logo, category, date of transaction, reference and what account the transaction debited. 

Chris Pitt, chief executive of first direct, said: “Our focus has always been to only deliver features customers want and need. This provides valuable insight into your spending, making it easier to see what each transaction was for, and also easier to spot what is an unrecognised transaction. 

“Co-creating transaction enrichment with Bud gives us a launch pad to start rolling out a bunch of new features to customers, which will provide them with more exciting, bespoke features such as an in-app marketplace and personalised recommendations.” 

Transactions will be tagged into one of over 100 categories, with Bud’s identification service being used to recognise around 3,000 UK merchants. 

Pitt added: “This enriched data functionality unlocks a world of opportunity for our customer experience as it will give us insights which will underpin a lot of the new features we’re releasing later this year.”