RALEIGH, N.C. – April 27, 2021 –– Constellation Digital Partners, the first unique open-development platform for digital banking services announced a new partnership with data and analytics company, Segmint® to enrich Constellation’s customer-based transaction data for its Digital Banking Platform to include mobile and online banking.
Segmint’s Merchant Payment Cleansing solution is a critical capability that allows financial institutions to better understand customer transaction behavior and model spend patterns, turning complex and hard to use data into actionable insights that enhance customer experiences, analytics and modeling investments.
“Our data cleansing services lead the industry in speed, accuracy, and scale, providing the ability to model spend and behavior patterns at the transaction level. The pivotal partnership with Constellation has accelerated the ability to standardize a data framework to support their extensive platform development while providing enriched data for analytics,” said Nate Shahan, Chief Product Officer for Segmint.
Transaction descriptions are often cryptic and non-descript, with a multitude of unique transaction variants for a single merchant, making it difficult to distill into a merchant brand name. Customer transactions are analyzed through Segmint’s two-pronged process to include automation and human research resulting in highly accurate merchant name and categorization match results with on target specificity.
Constellation is a unique, fully-realized open-development platform that disrupts the encumbering legacy structure of credit union relationships with their digital banking technology provider. A pivotal facet is the exposed framework for the service developer community to build digital banking experiences, solving challenges within business operations and financial literacy. The merchant payment cleansing solution provides these developers and credit unions with clean data, adding superior value to all services. Constellation’s open platform allows credit unions to access a variety of financial services in order to offer members enhanced digital experiences.
“As we provide a completely new approach to next-generation digital for our credit unions, our foundational partnership with Segmint will propel new enrichment and empowerment of the transaction data to Constellation’s credit union members, while delivering an enhanced digital user experience within our open development platform,” said Kris Kovacs, President and CEO of Constellation Digital Partners.
Adam Craig, President of Segmint furthered, “The Merchant Payment Cleansing end-to-end solution powers innovation in transaction data, a perfect add-on to Constellation’s cutting-edge platform. Our combination of AI, combined with adding ‘real humans’ to our process, produces highly accurate results and ranks us amongst the top of our competitors with the most comprehensive and highest match rate in the industry.”
About Constellation Digital Partners, LLC
Constellation has created the first open development platform – providing a patented, secure and flexible cloud-based ecosystem that enables credit unions and innovative app developers to provide safe, reliable and next-generation digital financial service experiences. Constellation gives credit unions the freedom to compete, innovate and thrive in the financial services industry by redefining what they can offer, delivering digital financial services in a way that enables them to place members at the center of their business strategy. Visit www.constellation.coop to learn more. And, connect with Constellation on Twitter, Instagram (@ConstellationDP), Facebook and LinkedIn.
Segmint empowers financial institutions and financial technology providers to easily understand and leverage data, interact with customers, and measure results. Derived from billions of transactions, Segmint provides the fastest and most accurate customer insights through advanced data tagging, categorization, and contextualization. Our insights enable all functions of an organization to inform strategies including competitive analysis, risk, marketing, customer experience, and product innovation.
For more information, visit www.segmint.com.