Statements
see what’s new with our products
A Message From Our Team
Happy October! 🎃 Fall into our latest batch of updates designed to make managing your financial institution even smoother. This month, we're excited to highlight new features for the Banno Support app case queue, seamless browser-based key generation for developers, the launch of our new Origination Pilot & Beta Hub for lending and deposits, and so much more. Dive in below to see what's new!
Transaction Enrichment Rollout
As our customers who opted for the October rollout wave have seen, the Transaction Enrichment feature is a powerful addition for accountholders. Once enabled, here’s what to expect:
- Clearer Transactions: Confusing transaction memos are replaced with clear merchant names when the merchant can be identified.
- Logos and Icons: Merchant logos are displayed in the transaction history. If a logo is unavailable, a category-specific icon is displayed instead.
- Enrichment Edits: Accountholders can edit both the memo and the category at the transaction level, on the transaction detail screen. The edits apply on a per-transaction basis and aren’t reflected on subsequent transactions.
The Spending Wheel Rollout
We’ve made the strategic decision to enable the Spending Wheel separately from Transaction Enrichment. This ensures that each piece of the enrichment puzzle provides immediate value for your accountholders. Populated by Transaction Enrichment data, the Spending Wheel provides a rich, historical view of spending. Unpopulated, well, not so much. It could cause a confusing experience. By delaying its release slightly, we can ensure that the Spending Wheel is properly populated with meaningful data and makes a strong first impression on your accountholders.
Rollout Waves
If you haven’t already submitted your Transaction Enrichment rollout preference, please complete this form by November 14. There are spots available in our December and January waves – the final two release waves for this feature. If you are not ready to roll by January, our support team can activate Transaction Enrichment upon request.
Once we’ve confirmed the rollout date for your bank or credit union, we’ll send an SLA a couple of weeks beforehand, so you can prep your frontline support staff. We’ll do the same a few weeks later, once the Spending Wheel is populated and ready to unveil!
Note: No additional contract is required for Transaction Enrichment and the Spending Wheel.