Vendors that turn raw bank-transaction descriptions into clean merchant names and categories. Niche but high-signal — disclosed mainly in neobank case studies.
A card or bank transaction arrives as a short, cryptic string. Enrichment providers match it against merchant databases and models to say who the merchant really is and what kind of spending it was.
The output powers clearer statements, fewer disputes from customers who do not recognize a charge, budgeting and cash-flow tools, card-linked rewards, and underwriting based on spending data.
Providers whose core product is cleaning and categorizing transactions. Most-named in the Index: ntropy, Spade, Dateio and Banyan.
Aggregators that enrich the transactions they already retrieve. Most-named in the Index: MX, Plaid, Salt Edge and Belvo Enrichment.
Providers that use enriched card data for offers, receipts and merchant insights. Most-named in the Index: Astrada and Dosh.
Transaction enrichment turns raw bank-transaction descriptions, such as truncated merchant codes, into clean merchant names, logos, locations and spending categories. Banks and fintechs use it so statements are readable and so budgeting, rewards and risk models work on accurate data.
By number of companies linked to them through public disclosures and provider customer lists, the most-named transaction enrichment providers are MX (14), Dateio (9), Astrada (6), Spade (4) and Plaid (3) (Embedded Finance Index, October 2026).
Open banking retrieves a customer's transactions from their bank. Transaction enrichment cleans up those transactions, whatever their source, by naming the merchant and assigning a category. Some open banking providers offer both.
The Embedded Finance Index analyzes the public infrastructure stacks of 6,585 fintech and embedded-finance companies. A provider is counted when a company names it in its own disclosures — terms, partner pages, press releases — or when the provider publicly lists that company as a customer. Counts are relationships, not revenue or volume.