How First Foundation Bank Streamlined Direct Deposits with MX
First Foundation Inc. is a full-service financial institution dedicated to providing personalized banking, commercial banking, and wealth management services through its two wholly-owned operating subsidiaries, First Foundation Bank (FFB) and First Foundation Advisors (FFA).
First Foundation Bank (FFB) is committed to deepening customer relationships and growing high-quality deposits. As part of that mission, the bank offered a deposit switch tool during onboarding to make it easier for new customers to set up direct deposit. While it was a step in the right direction, FFB saw an opportunity to drive even stronger engagement and results by enhancing the experience and reaching customers at more impactful moments in their journey.
FFB turned to MX to elevate its deposit switch strategy. By integrating MX’s Direct Deposit solution alongside its existing tools, FFB was able to engage customers at key moments — both in MX Mobile and through personalized insights.
FFB is now able to deliver personalized nudges and drive meaningful action with MX’s solution by intelligently identifying users with payroll deposits at external institutions. This targeted outreach and a new frictionless experience empowered its consumers to reroute their deposits to FFB in a few easy steps.
In just under three weeks, 18 times more customers changed their direct deposit to FFB than in the last year, far surpassing performance from its previous solution.
“We see this as a huge success already. Client engagement with the Direct Deposit feature is significantly higher than what we experienced previously, and I know the switch volume will only continue to grow. This is a real achievement, and we appreciate everything MX has done to make it possible.”
Mitchell Skoien
VP, Product Manager, First Foundation Bank
With MX, FFB has transformed how customers set up and manage direct deposits — making it easier, faster, and more accessible. This not only supports FFB’s goal of deposit growth, but helps the bank become the primary financial institution for more of its customers.
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