In addition to making the tools more accessible, Emprise added MX Insights — a personalized feed of financial insights that provides consumers with guidance on actions they can take to improve their financial lives. By incorporating MX Insights, Emprise is providing its customers with an easy way to understand their finances better.
“Not everybody wants to do a budget. That’s a lot of work,” Chapman says. “Most people just want you to tell them quickly — Where am I? What’s happening? And, we’ve seen a really positive impact for customers, especially on things like purchases that have double posted and they didn’t realize that the merchant charged them twice. You can bring things to their attention that they may have overlooked, and it feels easy.”
Customer engagement continues to build as Emprise increases consumer trust and helps them get closer to reaching their financial goals. For instance, the more customers view their personalized financial insights, the more often they log in. Currently 56% of active users regularly engage with the financial tools.
Emprise is also leveraging cleansed and categorized data provided by MX to inform its business decisions. By pulling MX data into its cloud environment, the bank’s predictive analytics team can build predictive models that help them better understand customers and deliver personalized messages and offers that match each customer’s situation and goals.
For example, the Emprise team is using discovered account information — information about accounts held externally at other institutions, derived from consumer-permissioned data — to inform upsell and cross sell opportunities, as well as deliver the right nudges and next steps for customers to take in its digital marketing platform.
“There’s a ton of potential and I think we’re just scratching the surface,” Chapman explains. “At Emprise, our mission is empowering people to thrive. And the data empowers us to create personalized and relevant experiences that really meet our customers’ needs where they are.”