Ruuky adds new banking services for Generation Z with transaction data enrichment services by Snowdrop

German neobank for the Generation Z, Ruuky, is the latest to launch highly accurate transaction enrichment services with Snowdrop Solutions.

Launched with their redesigned Banking App in Germany this fall, Ruuky rolled out Snowdrop’s Merchant Reconciliation System API (MRS) to improve information shared with users about their transactions and purchases. Using MRS, Ruuky is now offering their customers a way to better understand their spending habits, including the merchant name, its logo and categorization.

As the first neobank dedicated to young people in Germany, the Hamburg-based neobank provides financial services tailored for the needs of their young users. The enriched transaction information from Snowdrop helps Ruuky users better understand and visualise where and when they spend their money.

“We are so pleased to work alongside Ruuky as they rollout new Gen Z focused services in Germany and beyond,” said Ken Hart, CEO and founder of UK-based Snowdrop Solutions Ltd. He added that Snowdrop continues to work closely with agile FinTechs to create compelling new services such as sustainability and ESG categorisation in the coming weeks and months.

In addition to clean transaction information, Ruuky is also using MRS to offer its users real-time notifications about financial status and transactions, easy and quick requests and transfers of money, and is in the process of implementing new functionalities around social commerce and gaming.

“Integrating the solution of Snowdrop was a great decision! The precise information that the service is providing us and our users increases usability and enables us to offer new features around this information”, Christoph Roling, Head of Customer Experience.

Launched in June 2021 and with the premise of becoming the digital bank of reference for Generation Z in Europe, Ruuky has found a way to connect with its target audience and gain traction by being present on channels such as TikTok and Youtube, where they have already more than 270 thousand followers. With €4 million of funding raised in their seed round Ruuky, has already entered Austria as the second European market and has plans for further growth in the coming months.

The post Ruuky adds new banking services for Generation Z with transaction data enrichment services by Snowdrop appeared first on Fintech Finance.

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