Pretty accurate @rebekah - but mainly worked for the top online retailers. Think they screen scraped standard and recognisable email formats from key retailers to begin with but then used better intelligence. I was happy to have Amazon as was easier than finding in the Amazon app back then.
Broadening the topic slightly, I believe getting item-level data is the next frontier for money management.
Today…if someone spends £50 at Tesco…that might be groceries for one person, shopping (gifts?) for another, or personal care (opticians?), or expenses (business), or even bills for someone else, and then next time, it could be different again for the same person at the same retailer. It’s hard to make a guess when you can get literally anything at the same store.
Same for bills - it’s difficult to tell me I can save money on my BT bill if you don’t know what I pay BT for. My BT bill includes my home phone, mobiles, broadband, BT sport, etc, but my bank transaction is one amount for BT. If you knew what it included (and even when the contracts expired…), you’d really be able to help me save money, especially when one day, I expect the switch will just happen in the background without me knowing and I’ll just get a push notification to say Emma saved me money today
If Emma can find ways to get data directly from merchants (or via user permissons) to see receipt level data, contracts, bills, etc, this would be a game changer IMHO. Several solutions are doing this like Flux, Slice, Filethis…but no one has really cracked it yet…