Bank Account Data

Overview

MetaMap's Bank Account Data tool provides access to bank account data such as raw transaction history (3 to 12 months), balance, account, and identity information & enriched data (transaction categorization and income verification).

The individual can submit their banking information in one of two ways:

• Using their bank account login credentials (with the individual's permission)
• Uploading bank statements downloaded from their bank

Availability

We currently support the most popular and top banks and financial institutions across Latin America, Africa and South East Asia.

• Check our list of supported institutions for more information.
• This can be integrated through our mobile & web SDKs and through our direct link.

Features

The following features apply to the individual's login and bank statements.

• Access to Structured Bank Account Data

  The individual can login using their bank account credentials or upload bank statements to securely and accurately share their financial data instead of filling out long forms. MetaMap sends you their financial information in a consistent and easily digestible data format. The data will be returned in a single call and will cover data such as: Identity, Accounts, Transactions, and Balance.

• Financial Profiling

  Our advanced categorization and insights service allows lenders to verify income and derive key attributes such as average balance, previous loans for underwriting, and spending habits

• Identity Verification

  With the account information verified by the financial institution the name, phone number, and email can be compared with other MetaMap or external sources to verify that the individual is who they say they are.

Bank Statement-Specific Features

The following features are specific to individuals who upload their bank statements.

• Fraud Detection

  Prevent fraudulent documents from being submitted through multiple checks including: document alterations, file type, and file size. For more detail about how MetaMap detects fraud go here.

• Real-Time Response

  We can extract information from multiple bank statements is less than a minute

• Supports Retail and Business Accounts

  We can extract information from both retail and business banking accounts, depending on the individual banking institution's policies.

  The following is a full list of banks that support retail and business accounts:

  Supported Institutions.

Key metrics

• Response in <20s
• Opt-in rate >70%
• Largest financial institution coverage in LATAM

Customer Flow

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The individual has two ways to submit bank account data

• Providing their bank login credentials
• Uploading bank statements downloaded from their bank

The following GIF shows a customer flow using their bank login using MetaMap's prebuilt UX:

The following GIF shows a customer flow using bank statement uploads using MetaMap's prebuilt UX:

How it works

As a first step, individuals are provided with a variety of methods to share their financial data. They are provided with explanations relating to how their data will be accessed and used. With their consent, this data is then parsed, extracted and enriched and returned in a variety of formats.

Setup

There are 3 main steps to set up the Bank Account Data tool:

1. Setup your workflow on the dashboard
2. Use our quick start integration steps
3. Review the verification results

Step 1: Setup a Workflow

The first step to setting up the Bank Account Data tool is to create a new workflow in the Dashboard. Once you've created a new workflow, add the Bank Account Data product to the customer flow, select whether individuals submit their bank account login or bank statements, and enable the countries that you want to support

Step 2: Integrate

Currently you can use MetaMap's Bank Account Data in two ways:

1. MetaMap Button — Integrate our MetaMap Button SDK into your application to use our prebuilt UX
2. Direct Link — Receive a URL link that you can send to your customers

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Integrate our MetaMap Button via SDK

Use our SDK integration if you want to use MetaMap's verification tools but design your own experience for your customers.

To implement this:

1. Setup the workflow for Bank Account Data in the dashboard
2. Install and implement an SDK framework

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Integrate via Direct Link

If you are not a developer, or you don't have the resources to integrate at this time, you can start using the product in minutes without any code with our Direct Link.

To implement this:

1. Set up the workflow for Bank Account Data in the dashboard
2. Get the Direct Link
3. Send the Direct Link to your customers

Step 3: Process verification results

There are two main ways to visualize and use the data

• Dashboard Verification Results

  In the dashboard, visit the Verifications tab, and click on a Verification to review the results.

• Webhook verification results

  To handle webhook responses that will be sent to your webhook URL, you will need to configure your webhooks.

  The following webhook ID corresponds to the Bank Account Data tool:
  financial-information-validation

Reference

Available Data Types

Supported Institutions

Data input availability is indicated with a green dot().

The yellow dot () indicates availability in Q4: