Editor’s note: Today's article comes from the team at bunq, the first bank to obtain a European banking license in more than 35 years, and the second largest neobank in Europe. They share how bunq built an interactive map using Google Maps Platform to connect with global users and build a stronger bunq community.
Transforming the European banking industry is no small feat, but bunq has fundamentally changed how millions of people spend, save, and invest their money. As the first bank to obtain a European banking license in more than 35 years, and the second largest neobank in Europe, we’ve pioneered things that were previously considered impossible. We have brought diversity of products, people, and business models to an outdated sector and quickly scaled across Europe. We now make life easy for over 14 million users across Europe, and we’re just getting started.
As we’ve grown and evolved since our founding in 2012, we’ve become more focused on responding to challenges of location-independent people and businesses around the world. We saw an opportunity to enhance our users’ app experiences with an interactive map, built with Google Maps Platform, and this integration has helped us connect with global users and build a stronger bunq community.
A map for the modern banking user
We designed bunq Places as a proactive way to add value to our app. By providing visual insight into the places where people have made transactions, or that other bunq users have recommended, we aimed to create a unique space for users to engage within our app, discover new places, and connect with others in the bunq community.
When choosing a platform for Places, we wanted a solution that could provide:
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Accurate and extensive place data to pinpoint specific locations
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Seamless integration with transaction data to efficiently match transaction locations with real-world places
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Global reach and reliability to ensure a consistent experience for all users, regardless of location
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A user-friendly interface that could be easily integrated into our app.
Google Maps Platform stood out for its global reach, reliability, and comprehensive places data. It also provided an easy-to-use interface that people with varying technical abilities could engage with. In late 2021, we began our Google Maps Platform implementation to bring Places to life.
Within the bunq app customers can view Places details and recommendations from other bunq customers.
Building a better banking (m)app
The initial setup took roughly two weeks, and we’ve gone through several iterations since then. Each version has helped us refine the user experience and optimize the functionality of the map, making it more engaging and intuitive. Overall, building the map has been a learning experience, with each stage bringing us closer to the seamless, interactive map feature we envisioned. Here’s how it works:
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Enrichment with transaction data:
We use our integration with Tapix, an AI-powered banking tool, to extract and analyze transaction data, focusing on identifying and extracting location-related information. This involves processing merchant names, transaction descriptions, and other available data points to pinpoint the likely location of each transaction. -
Google Maps Platform integration:
Once potential locations are identified, we leverage the Places API to retrieve comprehensive details about those locations. This includes the precise name, address, and type of business associated with the transaction. By cross-referencing this information with the extracted data, we can verify and refine the location with 95% accuracy. -
Map visualization: The enriched transaction data, including location details, is then visually represented on an interactive map within the bunq app. This allows users to explore their spending habits geographically, gaining insights into where and how they spend their money.
By using the map, users can gain a deeper understanding of their spending patterns and make more informed financial decisions.
bunq customers can view recommendations from other members of the bunq community directly in the app.
A more engaging user experience
The visual representation of transaction data on the bunq map has enhanced user engagement and provided a more intuitive way for users to track and analyze spending. Since the beginning of 2024, active map user count has doubled, with the average user opening the map once a week. Meanwhile, the recommendations feature creates a sense of community and encourages exploration.
By leveraging Google Maps Platform, we've enhanced our users' experience and strengthened our position as the only bank our users love to use. We're excited to continue exploring new ways to use this powerful tool to make life easy for location-independent people all over the world.
