Paris – 19th April 2022
The French pocket money app rolls out location-enabled services so families can better understand how and where they spend money
French FinTech Kard has launched a range of new digital banking services that lets families better understand exactly where they spend their money. Starting today, these new features show Kard users the clear name of each brand, the corresponding logo or icon and the exact location where the transaction took place.
This means that parents and teens using Kard now will have a highly intuitive, visual understanding of where transactions occur, and better insights into their spending habits.
“We continue to make banking easy, accessible and transparent” said Scott Gordon, CEO of Paris-based Kard. “This partnership with Snowdrop helps us provide teenagers with a banking experience that is tailored to their demands and gives better control over their finances.”
Scott added that Kard chose to work with Snowdrop after a thorough evaluation and seeing Snowdrop’s FinTech expertise, high accuracy rates and innovative roadmap.
“We are delighted to work with Kard and help French families manage pocket money better,” said Ken Hart, CEO and founder of London-based Snowdrop Solutions Ltd. “The Snowdrop and Kard teams were able to deploy an outstanding service in just a few weeks, and we are keen to help them scale quickly” he said.
The Kard team integrated Snowdrop’s Merchant Reconciliation System (MRS) API technology. Snowdrop’s MRS solution cleans up confusing transaction data and instead shows consumers verified information for each transaction, consisting of a clean merchant name, categorization, a logo (if appropriate) and contact details, including the website. Powered by Google Maps and Cloud, MRS also adds other features such as precise location details, mapping coordinates, real-time notifications and merchant analytics, all of which can be used by banks to create more compelling user experiences that generate trust, insights and measurable benefits. For example, many banks that have deployed MRS report an increase in consumer engagement, others an immediate drop in customer calls to the call centre to question a transaction or request a chargeback.
Today, the services are available to Kard users, most of whom are based in France. The underlying Snowdrop technology powering Kard also manages international transactions when Kard users travel abroad as well as all online transactions. Finally, the two companies continue to talk about deploying additional extensions to the services in the next few months.
Kard is a pocket money app for teens and their parents, founded in 2019 in Paris by Scott Gordon and Amine Bounjou. Kard offers a single app for two distinct experiences, for parents and for teens. It arrives in families during a very special period of time: teenage years. A somewhat complex yet always tender moment, where the parent-teen relationship can get weaker. At Kard, we believe we have the unique opportunity to play a positive role in this moment: allowing parents to get closer to their teens while making them grow up. Enrich, smoothen, de-dramatize the parent-teen relationship while making room for more autonomy. We’re the pocket money app that brings parents and teens closer together. Features include: In-app messenger to open or reopen the dialogue, Instantaneous top-up & scheduling, Real-time notifications & control, Transactions analysis & weekly reports, Vaults to save and teach teens to save.