Transactions
Your end users want to know where their money is going. It’s common sense, and Banno’s robust transaction features help ensure those end users have the best view possible. Whether they’re looking for a specific transaction or trying to remember why they spent four hundred dollars on shoes last month, Banno apps will be their best ally in keeping a grip on their finances.
How many transactions does Banno pull for an account?
Banno Apps pull 500 transactions at a time per account. Mobile caches the transactions the transactions retrieved the last time the end user used the app, allowing for quicker access to transactions as far back as the end user has used Banno Apps.
What time frame does Banno pull for displaying a transaction history to end users?
End users can click the See more button to incrementally pull seven days worth of transactions into Banno Apps. If transactions reach 180 consecutive days of inactivity, End of available activity displays in Banno Online while Banno Mobile end users reach the end of their transaction history.
Users with many accounts
Provided an end user has 20 or fewer accounts, Banno Apps function exactly how you’d expect—down to displaying a bird’s-eye view of all transactions for all accounts, grouped in a single, comprehensive transactions card. Once an end user has 21 or more accounts, viewing all transactions for all accounts is disabled to ensure the speed and stability of the app. End users must view transactions for each account individually, and transaction searches must be performed on a single account at a time.
Note that this limitation only affects visible accounts—that is, those accounts that have the Account Setting Show balance and activity (Mobile) or Display activity and transactions (Online/People) enabled. Hidden accounts do not apply toward the 20 account threshold, and hiding accounts can bring an end user back below this threshold.
Print or download transaction activity
At the top of the Transactions list on an account’s dashboard, end users can click to print the Transactions list or to download transaction activity. When an end user downloads transaction activity, they’ll select a date range and file type to export. For a file type, end users can choose to export a CSV spreadsheet, a text file, or an Open Financial Exchange file.
Using Geezeo’s enrichment engine, Banno Apps gives end users the ability to organize their purchases and improve their financial health. By default, a spending category is automatically assigned to each transaction, as well as a cleansed memo, so that end users gain a better understanding of their transactions. A corresponding Spending by category card—designed to look like a spending wheel—also displays on the Banno dashboard for end users to view their spending across all categories.
Banno offers transaction enrichment functionality at zero-cost. We automatically enable it for every institution, making it visible to all end users in Banno Apps. For Banno Mobile, transaction enrichment enhancement reflects in version 3.0.
Prior to enabling transaction enrichment for your institution, we began running transactions through our enrichment engine behind the scene. When we enable the functionality, end users will see a short history of enriched transactions going back couple of months or less. The timeframe will vary from institution to institution, because it depends when we first began enriching transactions. Transactions prior to being processed through the enrichment engine display with a Not enriched spending category and the same transaction title—also known as the memo—that core returned.
Spending categories
As the Geezeo enrichment engine processes a transaction, it assigns the transaction one spending category from a list of 18 different predefined categories. Each category has specific icon and color associated with it that cannot be customized. The color and category icon also correspond with the spending wheel in the Spending by category dashboard card so the end user can review their spending habits.
If the enrichment engine is unable to enrich a transaction or there is an error in the process, the Not enriched spending category assigns to the transaction and defaults to display the memo description that core returns.
Change spending category
For institutions contracted for Geezeo, end users can change the default spending category or add a custom spending category within the Geezeo SSO. If a spending category is changed to another pre-existing default spending category, the transaction updates and displays the same in Banno Apps. If a spending category is changed to a custom category, the change displays as Miscellaneous in Banno Apps.
Edit transaction name
For institutions contracted for Geezeo, end users can edit the transaction name—also known as the memo—within the Geezeo SSO. These changes display in the Geezeo SSO, but will display differently in Banno Apps. If the end user edits the transaction name, the name will not display in Banno Apps—we’re working to bring the same functionality to Banno Apps.
Legacy tags
Considerations for institutions that pre-date transaction enrichments
If your institution started using Banno before we enabled transaction enrichments, it’s important to understand that enrichments impact the user experience. Before Banno Apps automatically provided transaction enrichments, end users had the option to add categorical tags to their transactions. Now that we utilize automatic transaction categorization, which began with Banno Mobile™ version 3.0, legacy tags are no longer supported.
After we enable transaction enrichment, end users can no longer add new tags or change tags but they can still view and search tags that they previously added. This functionality applies to Banno Online only as legacy tags will be removed altogether from Banno Mobile. End users who utilized legacy tags will be glad to know that our future plans for transaction enrichment involve adding even more categories plus allowing accountholders to customize their own.
Activity views and details
When an end user views their Transactions or All activity, the spending category icon displays on the furthest left-side of the transaction, with the merchant and date next to it. At the bottom of the transaction details, a transaction title—also known as the memo—from core displays, as well as the text Transaction category information automatically generated. The same default transaction details display as prior to enabling transaction enrichment.
Spending by category dashboard card
The Spending by category dashboard card displays in Banno Online is available to all institutions at zero cost. It offers a detailed overview of how an end user spends their money, allowing them to analyze where they spent their money over the last week (past 7 days), last month (past 30 days), three months (past 90 days), or six months (past 180 days). Each time the end user logs in to Banno Apps, the Spending by category dashboard card automatically syncs the end user’s accounts to display the transaction information by time frame and category. In the card, an end user can filter which accounts to view their spending habits. They can also select if they want to view their spending in a chart or list format. For institutions contracted with Geezeo, end users can interact with the spending wheel in the SSO for further understanding of their purchase history.
Banno People
- Banno People
- Users
- select user
- Accounts
In Banno People, admin users view the same spending category icons and cleansed memos as the end user in Banno Apps. For institutions contracted for Geezeo, admin users are unable to view changes that an end user makes in the Geezeo SSO. We’re working to bring the same functionality to Banno People.
FAQ
- Are category icons and colors customizable?
- Category icons and colors are designed by default and cannot be modified.
- Why does the spending wheel display the same data for different time periods that are selected (one week vs six months)?
- The spending wheel is not compatible with transactions that pre-date the transaction enrichment feature. Therefore, if the end user selects a time period that started before Banno Apps automatically enriched transactions and a second time period that started afterward, the spending wheel will display the same data—i.e. the enriched data—for both durations. End users should be advised that this type of duplicate data (for separate time periods) indicates the need to select a shorter time period. This limitation will not be an issue once there has been six months of transaction enrichment (the longest time period on the spending wheel).
Our loan payment breakdown functionality makes loan payment transactions simpler for Episys and Silverlake customers. It consolidates all information about the payment to a single transaction while providing additional information about the payment, putting your end users’ most important information at their fingertips. To get started, simply open a support case!
In the past, Banks would sometimes see multiple transactions related to a single loan payment. This new ability condenses those transactions into a single transaction containing the following information, including new information for both banks and credit unions.
Banks
A new breakdown is shown for all loan payment transactions, except those going entirely toward the principal amount. The following fields appear, if applicable to the given payment:
- Principal
- Interest
- Escrow
- Late Charge
- Unapplied Funds
- Other Charges/Fees
Please note that the loan payment breakdown may have interactions with any transaction filtering your bank has configured. Most importantly, if your bank is configured to filter out the primary loan payment transaction, this transaction will not show in your end users’ apps. Transaction filtering will still apply at the transaction level, but will not be accounted for at the payment breakdown level.
Credit Unions
A new breakdown is shown for all loan payment transactions, except those going entirely toward the principal amount. The following fields appear, if applicable to the given payment:
- Principal
- Interest
- Escrow
- Fee
- Billed Fee Amount
- Sales Tax Amount
- Late charge waived
FAQ
- Why does search exclude some transactions for some users?
- Since Banno Apps only displays 500 transactions a time, end users with higher transaction volumes may need to click Search further back (Online) or See more (Mobile) to see all transactions associated with a given date. There are plans to continue improving search functionality for users with many accounts or transactions. For more information, see our public roadmap.