Pioneer Bank Achieves Greater Visibility into Customers Accounts with MX
Leading Upstate New York banker gains invaluable insight into customers with MX, to better serve them with the right message and product at the right time
LEHI, Utah – September 18, 2018 ⎯ With the help of MX, Pioneer Bank, a leader in the banking industry with 22 branches throughout Upstate New York, has gained valuable customer insights to better target and serve their customers with the right message and product at the right time.
The proof is in the numbers
Pioneer Bank has also seen high initial adoption and engagement within the platform. In just a few months, Pioneer Bank has seen the following results:
- 2x growth in users within one quarter
- 65 percent of users engaging regularly with the platform
Putting financial data to work
“We see tremendous value in MX from the data analytics we have gained, not only for our customers but for the bank as well,” said Tom Amell, President and CEO, Pioneer Bank.
Pioneer Bank selected MX’s market-leading technology because it enables end-users to become financially stronger while increasing top-line growth. In addition, MX offered advanced capabilities that weren’t available in any other provider. It enabled Pioneer Bank to aggregate customers’ internal and external accounts for a 360-degree view of customers’ financial information: transactions, credit card providers, loan lenders, and much more. (See case study here.)
Finding gold in financial transactions
Through advanced cleansing and categorization, Pioneer Bank has gained meaningful insights into what accounts their customers actively use and insights into their purchasing habits. With MX, Pioneer Bank has been able to see, for instance, that 58 percent of its customers’ top external loan accounts were student loans. These data-backed insights have allowed Pioneer to reassess its own offerings to create products that better align with customers’ needs while making them more competitive in the marketplace.
“Overall, leveraging the insights we have gained, we have been able to develop a strategy around building targeted customer segments and campaigns that will increase the success of our marketing efforts,” said Amell. “We are incorporating MX into our in-branch customer experience and onboarding program to help drive adoption and better understand our customers’ relationships with other institutions.”
MX, the leader in actionable financial data, enables financial institutions and fintech providers to grow faster, reduce costs, and deliver exceptional customer experience. In doing so, MX is empowering the world to become financially strong. Founded in 2010, MX is one of the fastest-growing fintech providers, partnering with more than 1,800 financial institutions and 43 of the top 50 digital banking providers. For more information, visit www.mx.com.