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Innovation Forum Livestream Recording


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Sachi Osterloh

Sr. Manager, Marketing,


MX Insights Demo

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Erin Caldwell

Director of Client Voice,


Meet the Experts

Hear from industry and product experts as they discuss the evolution of financial services and how modern, secure connections are the foundation of the future.
Paul Camuto

Paul Camuto

Vice President, Product Head of Data Aggregation Wealth Broadridge

Wes Hummel

Wes Hummel

Chief Technology Officer MX

Crystal Anderson

Crystal Anderson

Vice President of Product MX

Shayli Lones

Shayli Lones

Vice President of Solution Marketing MX

Matt L’Heureux

Matt L’Heureux

Senior Vice President and Chief Product Officer COCC

Brent Dodson

Brent Dodson

Director, Deposits Money Management USAA

Winning the Fight for Customer
Loyalty and Business Growth

Nearly 1 in 4 consumers has opened a new bank account in the past 6 months. In today's competitive landscape, driving business growth while maintaining a loyal and engaged customer base is more critical — and more difficult — than ever.

Register to hear key insights from MXs latest consumer data on what factors influence consumer decisions, how to drive adoption and engagement, and how customer choice directly impacts the success of banks and credit unions.

Watch this Innovation Forum to learn:

  • Top factors influencing consumer decisions on where to deposit their money and who they trust
  • Types of personalization that consumers expect from financial providers, and how to drive growth and adoption with the right digital experiences
  • Best practices for building loyalty and engagement for the long term

Request a Free Demo


Innovation Forum Livestream Recording:


Shayli Lones: Hello everyone and welcome to the Innovation Forum. At MX, we believe that the key to customer engagement and adoption is a personalized money experience At a time when the industry is asking questions like..

How do we remain competitive and relevant? and how do we continue to grow and capture new audiences?

… It's increasingly critical to answer these questions with a careful look at the customer and what they want and expect from their money experience.

So with that in mind, how are you as an organization thinking about increasing customer engagement?

What steps are you taking to improve adoption and gain share of wallet? Today,  we'll dive into these topics as we hear from industry leaders on what their thoughts are for delivering value and driving growth. We have an exciting lineup for you.

First, you'll hear from Wes Hummel, MX CTO, on how MX approaches building products and experiences that drive scale and deliver value.

Then Crystal Anderson, our VP of product, will share the highlights and key takeaways from our latest consumer research.

Our panel of experts from USAA, Broadridge, and COCC will join her to discuss how they are using consumer data to improve the money experience.

Stick around after the panel for a demo of MX PFM and MX Insights. As we get started today, please take time to introduce yourself in the chat and let us know where you're watching from. Be sure to use the chat throughout and ask questions. The MX team is online and we're ready to talk with you.

And now I'm happy to introduce Wes.


Wes Hummel: Thank you Shayli. I'm excited to be here with you.

I spent the last 15 years of my career in fintech, 14 years at PayPal, and now the past 12 months at MX. And during this time, I focused on building products and experiences that scale and deliver customer value. In today's competitive marketplace, this is more important than ever before. You need products and experiences at scale that are personalized, easy to use, reliable, and meet the needs of customers.

And numerous factors contribute to designing and building products that customers want to use.

Today I'll take you through the top five areas you should be focusing on as you're working your product strategy:

First, understand your customers.

Second, focus on user experience.

Third, a scalable architecture.

Fourth, iterative innovation,

and fifth, building strong teams.

So let's start with the customer first.

It always starts with the customer or end user. Do you know what your customers want? What are their goals and their expectations? As a financial provider, you have access to the most valuable customer data set transaction data. Think about what brands do your customers prefer, what accounts do they have with other providers, and how much are they paying on in interest on their loans, credit cards or mortgages, and where are they shopping?

All this information can be derived from transaction data and used to help build personalized experiences that customers expect from their financial provider.

Now, before you start building a new feature or offering a new product or service, the key question is, do you know what customers want and how can you better serve them? Once you know what your customers want, you need to answer this: Are you delivering an experience and journey that makes it easy for them? It doesn't matter if you offer something better than your competitors, if your customers can't easily access it.

Let's talk about the second one, focusing on user experience. A good user experience makes it easy for users to find what they need, use the product effectively, and get the value they're looking for. Here's some questions to consider. Can they open an account on their phone? How long does it take? Do they have easy access to the most frequently used products and services? Are you providing capabilities that are relevant to their needs?

Asking these questions help you, helps you see things from the customer's experience, and helps you be mindful of the fact that the way you build these experiences matters.

Third, a scalable architecture. The financial tech stack is complicated. A history of legacy infrastructure has made it difficult to innovate quickly and keep up with market demands.

One of the key areas of building an enduring offering is a scalable architecture. Your product architecture should be designed to scale as your customer base grows. This means using a scalable technology stack and partnering or developing your product in a way that makes it easy to add new features and functionality.

Fourth, iterative innovation. This is one of my favorite values at MX. No product is perfect. As you learn more about your customers and their needs, you'll need to make changes to your product to improve the user experience and deliver even more value. That's okay. In fact, it's critically important. Ask yourself, are you using the available data to inform your roadmap and strategy?

We talked about the power of transaction data earlier. Do you know what products and services your customers are seeking elsewhere? And do you have a strategy in place to capture that share of the wallet share?

And finally, the most important factor is the team that's behind it all. Building successful products and experiences requires a strong team of people who are passionate about your customers and the experience you deliver. Make sure to build a team that is talented, dedicated, and committed to delivering value.

I'll now pass it over to Crystal Anderson, Vice President of Product of MX, who's going to share our latest insights in research. Crystal.


Crystal Anderson: Thank you Wes. Hello everyone. Thanks for joining us. Before we dive into the consumer research, let's talk about how recent industry headlines have been riddled with rate wars, record deposit declines, big tech’s big entry into deposits and government agencies’ actions, reactions, and speculated future actions.

These headlines are the result of increased competition, as well as macroeconomic conditions for consumers. The deposit battle has resulted in choice and convenience with a wave of enticing offers and promotion, which includes higher interest rates and cash bonuses and innovative digital banking features and experiences. For you and other providers, all this poses a challenge of profitability, liquidity, and sustainability.

At the end of Q1, based on the data from FDIC and NCUA, 43% of financial institutions reported a loss in deposits from Q4 2022 to Q1 2023. Overall, 40% of credit unions reported losses while 48% of banks reported losses.

Growing and retaining deposits isn't easy. Consumer money motivations are extremely personal and diverse. There is not a one-size-fits-all approach other than rates to grow deposits. And unfortunately, if you rely on rates to win, you will just as often lose on rates.

Our latest consumer research illustrates the correlation between trust and consumer acquisition and retention, reinforcing that financial institutions are more than just repositories of money and data. They're repositories of trust. Today, trust must be earned and nurtured throughout the digital money experience.

Trust is foundational to digital adoption and engagement. At MX, we are committed to building and maintaining trust with you through personalized consumer-centric money experiences.

Let's dive into our latest consumer research report.

The top three insights and trends from the research may or may not be surprising. First, driving business growth while maintaining loyal and engaged consumers is more critical and more difficult than ever. Second, trust is the key factor when it comes to where consumers decide to deposit their money and manage their finances. Third, providers should focus on personalized consumer-centric experiences that are reliable, secure, and deliver financial visibility, control, and strength.

Let's explore the findings in greater detail. There is a saying that the business of business is relationships. Unfortunately, relationships — especially given the current competitive landscape— are hard won and easily lost. According to our research, within the past six months, 50% of survey respondents have either opened a new bank account or considered switching to a new bank. 33% of Gen X respondents have opened a new bank account. 27% of Millennials have considered switching to a new bank account but haven't taken any action. And with Baby Boomers the most loyal of our segments, 75% state that they have not considered opening a new account or switching banks.

36% of consumers switched providers and opened a new account for better service, followed by 22% for a higher savings rate, 10% for more convenience, and 10% for a lower interest rate.

As stated previously, there is a correlation between trust and consumer acquisition. When asked what the top considerations are when choosing a financial provider, the No. 1 criteria was trust and confidence in the service provider, followed by personal data protection, friendly and helpful staff, digital banking experience, and convenience. The need to focus on trust is clear.

When it comes to consumer trust, we may be doing well as individual organizations, but unfortunately, according to the 2023 Edelman Trust Barometer, the financial services industry as a whole is one of the least trusted industry sectors in the world — ranked only above social media. Yikes.

And as an industry, we can do better. We are getting better. In August of last year, we asked consumers if they believe their providers have their best interest at heart. At that time, only 44% responded yes. When asked again, 61% stated they believe their providers have their best interest at heart, which is up nearly 20%.

And 66% stated that they trust their providers to do the right thing. In addition, 44% stated that they trust their providers more than they did six months ago. And 78% trust their primary provider with their financial information.

Interestingly, only 3% said that they would trust tech companies such as Apple, Google, and Amazon to securely manage their financial data. And despite the early influx of deposits to Apple's new savings account, 38% of consumers say it is unlikely they will leverage a technology company to manage their finances or hold their money. Also, men were more trusting of financial services providers than women.

Finances are personal. Money is the No. 1 source of stress for many consumers. It is among the top causes for divorce in America, second only to infidelity. And, money stress can make consumers up to 20 times more likely to attempt suicide. According to our research, 57% of consumers want their provider to help them better manage their finances. And 54% believe that providers have a responsibility to empower them to be financially strong. This stat is up from 39% in January, nearly 15% in less than six months.

Of the survey respondents, 33% stated their providers did not do enough to support their financial needs. Of these 42% of Gen X and 45% of Millennials agreed that financial providers don't do enough.

According to a recent Forrester report, putting financial well-being at the core of your digital strategy is critical to your ability to win, serve, and retain customers.

The report states that helping your consumers stay on track with their finances and achieve their financial goals, delivers a superior, differentiated customer experience that drives loyalty, increases engagement, and boosts customer lifetime value. Unfortunately, today's money experience is complicated and fragmented. The average consumer has seven financial accounts across numerous institutions — more than two banking applications, and three to four fintech applications on their smartphone.

Our research supports the idea that consumers lack financial transparency and control. For example, 82% of respondents agreed that they own their financial data. However, 52% are not sure who has access to their financial data. In addition, digital banking experience may or may not be meeting the ever evolving expectations of the modern consumer.

According to this study, 78% of consumers expect to be able to see all their financial data in one place. That's up from 64% in January — nearly 15% increase in six months. 79% expect providers to proactively alert them on financial issues including payments due and low account balances. 50% expect providers to deliver personalized offers for tools, products, and services to help them achieve their financial goals. And 62% say it's easier to renew their driver's license and ID than apply for a loan. Today's consumers do more, want more and expect more from their digital banking applications.

According to Forrester, most digital banking consumers state that their primary financial provider offers a mobile app. It's about the same or even worse than other banking apps, and that their primary provider is undifferentiated in the broader banking market. As stated previously, financial institutions are more than just repositories of money and data, their repositories of trust. Trust drives behaviors, builds loyalty, and generates revenue opportunities.

Trust is often formed through consistency, reliability, and transparency. It is showing up with the consumer's best interest at heart and doing the right thing. Consumers trust and some may state that they expect you to safeguard their money, protect their personal data, and deliver a holistic, transparent 360-degree view of their financial lives, and provide personalized digital services that help them manage their money and achieve their financial aspirations. Trust is hard earned and easily lost.

And today, trust must be earned and nurtured throughout the digital money experience. This means providing the technology necessary to aggregate all financial accounts in one place, simplify transaction data from an unclear string of characters to decipherable transaction information and insights, streamline account onboarding and funding, and deliver digital experiences that empower customers to take control of their financial lives through tools and insights that inform guide and protect.

At MX, we help you build trust — and deposits — through engaging differentiated money experiences that result in visibility of held away deposit accounts; operational efficiencies gained by reducing false alarms or fraudulent transactions and consumer frustrations; personalized marketing strategies that deliver the right message at the right time; quick and easy account funding that results in funded accounts and three times higher funding rate; and lastly,

differentiated money experiences that maximize your ability to win, serve and retain consumers while setting you apart from your peers.

Now, I'd like to welcome our panel. Today we have with us three of our partners. Brent, Paul, and Matt, would you like to introduce yourselves and your company?


Brent Dodson, USAA: Hi, I'm Brent Dotson. I'm the Director of Money Management and the deposits group for USAA.

Matt L’Heureux, COCC: Afternoon. I'm Matt L’Heureux, I'm COCC’s Chief Product Officer. COCC is a core banking provider in a software development shop based out of Connecticut.

Paul Camuto, Broadridge: Great. Thanks for having me. Paul Camuto. I'm with Broadridge Financial Solutions, part of the wealth management organization, specifically data aggregation and performance reporting.

Crystal: Great. Well, thank you all for being with us today. Well, let's get started. Um, Brent, this first question is for you. As USAA is known for its customer loyalty and reputation, how does USAA build and maintain that trust with its members? And how does that translate to engagement and business growth?

Brent: So I think first and foremost, um, you know, USSA mirrors the ideals of the military community and their families. Our company is comprised of many former active service members and their spouses, um, who understand the day-to-day challenges of our membership. So, you know, that kind of trust begins with that empathy and that understanding of the unique challenges that our members face. So when you think about living abroad, um, you think about specific military benefits, regulations, abrupt deployments, you know, culture within the bases, you know, we really lean into those and understand them.

And I think that's really kind of the backbone of where that begins. We have specific segmentation strategies to assess and measure and solve for the unique needs of the military community. So when you think about the trust part, you know, we've built that for over a hundred years, and that really translates into a very high retention and loyalty.

So when you think about growing from that, our growth comes from growing with our membership. We spend time to understand the journey of, you know, when an 18-year-old is enlisting into the military, um, and then, you know, they're evolving to getting married, having a family, and then ultimately leaving active service. There's a journey there. And so we really try to, uh, deepen our relationship with the members in that journey. Um, and, you know, and that that could be through tailored advice, you know, different banking and insurance products.

But we really try to understand what is the most relevant and comprehensive digital solutions for our members. And we achieved that, you know, really by doing boots on the ground, qualitative research, um, as well as, you know, really understanding what's happening in the digital domain. Um, so we have a heavy data culture. We work to responsibly consume and use data to provide the right solutions for our members and to operate the association effectively. So data and analytics is actually, uh, built into the fabric of working at USAA.

Crystal: Great, thank you.  Matt, one of the keys to trust and engagement is making sure you truly know and understand your customers. What role does data play in helping to drive adoption and engagement?

Matt: Thanks for that. Well, you know, at its most basic level, data is really going to help you understand your customers much better thinking sort of beyond traditional profile, but their behaviors, their financial maturity. Um, thankfully at this point, data and the ability to maximize the value out of it has kind of become a de facto standard even in community banking.

I'm finally seeing with a market of some of the smaller, uh, community banks and credit unions, they're understanding the value of data and, and what they can do with it. They're maybe not all there prioritizing the funding to leverage that data, but at least they're aware that it's a valuable asset and they're beginning to build a vision around it. But by leveraging the data beyond just understanding, that's how you can kind of message, you know, you might call those offers, you might call that marketing, but really messaging hyper-personalized in ways that's meaningful to them.

I always, when talking with our customers, say every survey, reiterates that your customers expect you to be providing them meaningful, targeted offers an expectation. And I think there was a while in banking where bankers traditionally almost thought that that just wasn't a fair practice. We shouldn't be tapping into the data to know too much of that's gone. Everybody gets that the way you cement that relationship. So you can offer very relevant products that save them money that make their financial lives easier. And, that will get them to rely on you for the guidance that they need.

So if you do it really well, you're gonna build a mindset where the customer knows and engages with you well beyond just balances and transactions, but more of helping to manage what is for some the most important aspect of their lives. They're definitely in the top few, which is — and I love how that aligns to our research that we reviewed earlier as well — that consumers now expect that their financial institution has access to their data and is going to use it to deliver personalized advice and products and services. So it's gone beyond just acknowledgement, but also has become an expectation.

Crystal: Thank you for sharing that. Paul, the next one's for you. Establishing a customer relationship is hard, but keeping it is harder. Where should financial providers focus to create lasting engagement and loyalty?

Paul: That's a great question. Uh, it was nice to hear Matt mention hyper-personalization. I believe it really leads in well to the customer relationship. Having a mountain of data is not enough. It really comes down to knowing the needs of your customer to build that lasting loyalty and engagement.

It is the it factor when you think of going above and beyond. At Broadridge, we consider ourselves to be a global leader in this fintech space, and we help clients capitalize on what's next. And in order to do that, you need to build a more meaningful and influential relationship with the client. And I think a lot of times when you think of the word “client”, we think of maybe an individual, but we need to expand beyond that and go more towards a customer as a household or a family. And those individuals, uh, representing the customer, they have different needs right there. There's a multitude of choices where they wanna invest, right? They have their own, um, you know, self-service needs, right? If you think of the younger generation, they want, uh, 24/7 access versus, uh, those of maybe higher net worth stature that want things more tailored and custom to them, right? So the way that we can democratize access is the way that we can win and help build those customer relationships.

Another thing I wanted to add too is around having more of a online tool set to help spark and initiate conversations, right? You know, um, commoditized financial services have existed for a long time, and I feel like we need to go beyond just selling a mutual fund or an equity product and have more of a prescriptive, um, you know, guidance or advice when it comes to financial wellness and financial health. And, um, you know, technology helps fuel and accelerate that to build those lasting relationships.

Crystal: Thank you.

Paul: You're welcome.

Crystal: It's been so great to hear how you are establishing those customer relationships and maintaining that trust that we've heard so much about and really understanding how you then use data to drive adoption and engagement. So thank you all so much for sharing that.

If you had one piece of advice for your peers when it comes to building those lasting relationships, what would it be?

Matt: I'll go first because it's easiest to go first. I would pick communication and transparency. I think keeping the communication with the customer, again, whether that's offers or, or however your messaging simple, consistent, relevant — I'm a big fan of using the language that you would use when talking to the customer. Gone are the days of an overly formal written communication style that just doesn't resonate. But being clear, clear and transparent. Keep your customers not only about products and services that may be additional to help them with their, their financial lives, but also just with their existing, uh, portfolio. Really just helping provide the guidance they need through different phases of their lives and, and managing their cash flows and that sort of thing.

We use the data if messages aren't resonating, if nobody's taking action, pull them back. Um, but always stay simple, consistent.

Crystal: I see lots of nodding from your fellow panelists.

Paul: Yeah. I’ll dive in and dovetail on what Matt was, uh, going after there. And, um, you know, for, from my point of view, I definitely say relationships that, that they need to be nurtured. They need to be fostered, right? It's, it's not enough to just, you know, meet with the client, do a quarterly review, right? It needs to be personalized. We're going back to that common term there. But, um, you know, in, in this market and the fluctuations that we had, right? How do you differentiate your business? How do you differentiate your practice? You, you do that through solutions, right? You, you're, you're more of a, a consultant and, and in essence, right, providing, um, you know, business investment ideas, right? You know, financial planning ideas, um, you know, you need to be able to stay relevant, right? And be able to offer clients something new that might not be heard of from another financial advisor. And you do that through technology, and you do that through data. So, um, you know, it's really continuing to build upon that relationship and not just one once every four months, you know, once every three months, right? It's just, you have to continue to stay on that relationship in order for it to be lasting.

Crystal: Yeah, we heard a lot of that from Brent about following the life events of, um, of his consumer base. Brent, what about you?

Brent: Yeah, I mean, I, I, I think that, uh, it, it's, it's similar, uh, and to what the, the other points that, uh, Matt and Paul have made. But, you know, I would say at the end of the day, it's rooted back in, you know, what is the value you're providing, uh, you know, trying to translate empathy and authenticity, you know, especially through digital channels these days, as we move more and more into this new paradigm, you know, that's really the key is to really rooted into what are the problems that are being solved, uh, for, you know, your member or your client and, um, and you know, and really rooting yourself into that. Um, and, and, and, and the challenge of course is, is using digital to do that today, but, um, that, that's really where it starts. And you can't, you can't lose sight of, um, you know, where, where your value proposition starts and it's solving a problem for the member, right?

Paul: I think another thing too, I'll just add in closing, um, you know, it's, it's similar to, to, to marketing, right? It has to be a continual investment. You just can't buy in to tech or digital and assume that you know, you're gonna have an instant return. It's something that you need to put time and effort into, and sometimes there's not a direct correlation into seeing, you know, the, the return on it, but you know, it's a factor of everything together that then builds your a u m or builds your, your revenue or your growth, right? So it has to be coupled with training, marketing, and everything else as a package. Um, you know, so kind of sometimes people are a little apprehensive to dive deep into tech or digital, right? But it has to be kind of that, that comprehensive, you know, holistic picture that puts everything together for your complete offering as a financial provider or financial, uh, professional.

Crystal: That's such a great comment. Paul. You know, it gets me thinking, we've talked about advice, but we're all facing headwinds that we've never had to face before.

What do you see as the biggest head headwinds between now and the end of the year? And what is your organization doing about it? Brent, what are you seeing?

Paul: Sure, sure. Yeah, I'll, I'll, I'll take it real quick. Um, you know, a hundred percent agree. There's, there's some challenges in this economic environment that we're all a part of. There's definitely some apprehension when it comes to investment in terms of that digital or tech spend. And creatively, what we've been doing at Broadridge is around, uh, promotions and trials.

So we have a lot of the core data, and we have an ecosystem of fintech wealth solutions, right? So if you think of our, our network, we have digital marketing, right? So how can we tie content that's, uh, sensitive and, um, recognizes the financial data that you have, right? So you have a 529 account. Um, you might not have an HSA, right? You might not have, um, significant retirement exposure, right? How can we provide material content that's significant to your specific situation, right? And we can do that and start to layer it on, layer it in, and give people the opportunity to see it before they buy it. Um, so those are some things that we're doing to kind of supplement and help, uh, cross sell, you know, solutions across our network instead of looking at everything in the silo.

Crystal: Brent, what headwinds are you seeing and what are you guys doing about it?

Brent: Yeah, I think, um, you know, with being a federally regulated bank, um, you know, the challenges we run into is, you know, we're not as maybe, you know, not as big as Chase, um, but we're big enough to get a lot of scrutiny. And so, um, uh, you know, evolving and innovating. Um, you know, there's a, with things that are going on out there today with, with AI or just in the fintech space in general, a lot of really great ideas get innovated and created quickly and can get rolled out, and those change the norms. So, you know, as a large bank, um, you know, we want to innovate and move quick as well, but it's a little harder. And so I think the challenge is, is, is in times like this, um, is to try to, is to move quickly, um, and to speed things up, but yet still, uh, deal with the compliance.

The other aspect of it is with, with our, you know, uh, audience, uh, with the military is there are income challenges in some of those, um, segments. And, and so when we're in an economic time like we are now, uh, you know, our base can can be, uh, disproportionately impacted by some of the challenges there. And so I think it's kind of understanding some of the constraints we have, um, with our audience as well. So, you know, It would be nice if everything was a level playing field, but it's just in reality, it is just not how it works.

And I think for us as an organization, we're continually trying to improve, to learn how to innovate faster and also be compliant.

Crystal: Thank you. Matt, what are you seeing?

Matt: So I, I think in terms of, uh, how we're consulting with our clients and, and some of it is business as usual, but really helping them to consume and navigate through just so many different potential tech solutions.

They all know they need to increase the spend in the digital channel, yet they still have to serve some of their older demographic. Um, and so we're having a lot of conversation about all sorts of different solutions, meeting different needs, and, and really the C-suite of the organization is just kind of mired in too many options, um, challenged by where to focus their internal thought leadership, implementing, leveraging, I think it was Paul who said sometimes these solutions are often, they don't have that kind of clear ROI that's gonna make your CFO happy, right?

But we all know that if you're trying to compete with the large institutions, keep pouring money into innovation and expanding that or enhancing that digital experience, while you will do it in smaller numbers, you need to continue to do the same, focusing that budget and enhancing that experience. And so we're spending a lot of time meeting with the decision makers at the organizations and just kind of helping them with their prioritization of where to focus some of their energies around leveraging technologies that they…

Crystal: Well, thank you so much for joining us today.

Don't go anywhere just yet. Check out the product demos below to learn more about how MX can help you drive engagement and adoption with our experience solutions.

And I'd like to invite you to mark your calendar and register for the Money Experience Summit this fall in the beautiful Snowbird, Utah — September 19th through the 21st. And thank you again to Brent, Paul and Matt. I really appreciate it and loved hearing your insights today.

Paul: Thank you so much.

Brent: Thank You.

Matt: Thank you everybody.

MX PFM Demo:


Hi, I am Sachi Osterloh from MX, and today I'm excited to walk you through our MX PFM demo.

Managing finances is messy, and getting your PFM right can be hard. PFM tools have become increasingly complex as we juggle managing money across multiple financial accounts in a way that fits our lifestyles.

People want their financial providers to proactively help them better manage their finances, but we found that one in four consumers don't feel like their financial provider is doing enough to help them with their financial goals.

MX simplifies personal financial management for consumers from connecting all their accounts in one place to best-in-class digital money management capabilities to proactive, personalized financial insights.

In today's world, financial stress has led to a shift in the expectations people have towards their financial institutions. Instead of staying loyal to their longstanding institution, people are more willing to explore other options that offer them necessary tools to achieve financial success. In our demo today, I'll walk you through the ways MX can help you boost engagement, achieve high adoption rates, and help your customers to feel in charge of every dollar that goes through their accounts.

Some of the tools we'll cover include how to track spending trends and provide PFM users with smart insights into their spending and saving habits. When nearly 40% of consumers believe financial providers have a responsibility to teach them to be financially strong, offering easy-to-use financial literacy tools can help you stand apart from the competition. So let's jump into the demo.


MX’s PFM provides a suite of personal financial management tools that securely integrate into your digital products in both a desktop view and mobile applications. Our research shows more than half of consumers expect to be able to see all of their financial data in one place. So that's exactly what our PFM does. Users get a frictionless experience for viewing all of their financial data in a single pane or on a single platform. Regardless of platform, users can set up budgeting, track spending, aggregate accounts, and manage debt. There are other tools available, but these are the key ways you can use your PFM to drive user engagement and create organizational growth.

When looking at this PFM solution, you'll see that each one of the tabs at the top of the screen represents an individual widget. Each one of these widgets can be embedded individually into your UI, or you can embed this entire frame to keep your widgets housed together, giving you options and flexibility with your integration.
Here is where you'll see all the connected accounts and the ability to connect additional accounts as needed. As you can see, I have various accounts connected, like checking accounts, savings accounts, investment accounts, credit cards, and loans such as a mortgage or a student loan. On the left side of my screen, I'm showing a roll up of all these accounts so I have a quick view of where I stand across all of my different financial accounts.

Once the user has connected their accounts, they will have visibility into cleansed and categorized transactional data in the transactions widget. As you can see, we're taking raw transactional data and running it through an enhancement algorithm to return attributes like merchant logos, a clean merchant name, and a category for that particular transaction. This enables users and our partners to see transactions in an easy-to-understand manner from everyday spending to monthly or semi-monthly deposits to accounts like a paycheck, for example.

There are even tools built into this particular transactions widget, like subscription detection to display to the user the common monthly expenses that they may be subscribed to. So in this example, I see that I'm projected to have expenses for Spotify and Netflix subscriptions.

Next, the user has access to a spending wheel, which provides visibility into monthly spending by category. This is where the user can drill into a top level category like food and dining to reveal spending by subcategory. This allows them to go all the way down to the transaction level. So for example, I can take an in-depth look at my spending and food and dining at grocery stores or grocery chains.

MX PFM also provides a monthly budgeting solution by category in a stoplight color scheme. Red represents that I'm over budget for that particular month. Green indicates I'm under budget, and yellow warns me that I'm approaching budget for that particular period.

Similar to the spending wheel, consumers can drill into a category down to that transactional level. So for example, if I drill into food and dining, I can see my budget overview. However, just because you've provided a budgeting solution, it doesn't necessarily mean consumers will start from scratch and use it to build a budget. So with that in mind, we've even gone and made that process easier by auto generating a budget for the user based on previous spending history. This way,

if the user accesses this budget tool for the first time, they can select to auto generate a budget, which will provide them a view like you are seeing here. This removes a major engagement and adoption hurdle and gives them a starting point for their budgeting journey.

We've seen a lot of success with this particular feature with users reporting it's easy to use. We also find it leads users to make use of other features more as well.

Next, users can see trends in their spending habits by category month over month. Using the food and dining category as an example, I can drill down and compare my restaurant and grocery spending over the last 3-, 6-, 9-, or even 12-month periods.

The last widget I'll show is the goals widget, which allows consumers to add savings, pay down debt, or set retirement goals. They can also set a contribution amount and track progress to that goal by watching the gauge fill up as it gets closer to the projected goal date throughout. You will find visualizations like this that provide users with at-a-glance updates on their financial health.

Although we've been viewing these tools in a desktop application, I mentioned earlier that mobile is also supported. As you can see in this example home screen, both mobile and desktop are supported for your user base. These money management tools as well as others in the PFM Suite allow MX clients to provide their users with a holistic financial experience that drives adoption, engagement, and profitable growth.

And this is just the beginning of how MX PFM can help you offer a more personalized money experience to your users. If you're interested in receiving a customized walkthrough, please fill out the form on this page. A member of our team will reach out to discuss how MX can help you improve engagement and adoption with MX PFM.

MX Insights Demo:


Hi, I am Erin Caldwell with MX, and today I'm excited to walk you through our MX Insights demo.

Generic and impersonal financial advice can ruin the money experience. When it comes to managing finances, consumers want personalized insights that help them understand and make better decisions about their money.

Our research shows that 70% of consumers expect personalized notifications and insights, and over 60% of consumers would like their financial services providers to proactively assist them in managing their finances.

Yet many financial institutions and fintechs still struggle to deliver actionable insights and recommendations.

MX Insights analyzes transactions from held and aggregated accounts to generate personalized insights based on behaviors and financial data. Our industry-leading data enhancement adds context with cleansing, categorization, and even merchant logos.

We bring all this data together to deliver a powerful, personalized experience in the form of a financial feed. Let's jump into the demo.


After logging in, a user can see all their financial tools in one place. They can easily view each account with your institution, and they also have the ability to connect with external accounts as well.

In the desktop experience, you can see the insights tool here at the bottom. These are served in a carousel format showing the top five insights for that particular day. The user also has the option to access the full financial feed by clicking view more.

When users log into the mobile experience, they will have a feed curated to them that is tailored to their financial goals and behaviors. We also offer the option for users to personalize their feed by choosing to upvote, downvote, or dismiss a card. The experience adapts to the type of insights the individual user wants to view.

Several of the cards have calls to action like this “Safe to Save”. This one in particular alerts the user that they have a surplus of $97 available and prompts them to transfer those funds into an account. These insights were generated based on historical balances and transaction history for each specific user. The user can then easily transfer funds to their savings account and take the next step in working towards their financial goals.

We have dozens of insights, and many of them are dynamic and encourage users to take action. Here, in category spending, they can see that on average, they're spending under $100 a month on food and dining, but there was an anomaly in this last month.

The user can drill into the insight and learn more easily viewing all the transactions that affect the break from their typical spending pattern. In this example, there's a charge from The Keg, and the user recognizes that the charge was actually a business expense from a recent trip, not a personal expense. They can tag this transaction as a reimbursable expense and remove it from their personal food and dining category.

Our data engine will prompt the user to select if this is a new rule they'd like the platform to remember, or just this time only.

By dynamically refreshing our insights cards in real time, we can reduce the stress level for the user. Looking at that anomaly, they get a positive affirmation that the anomaly is resolved and can move on and continue through the financial feed. As they scroll through, more relevant insights will be available.

For example, this next one, which you can see is giving them an important overdraft warning. Here, the user can learn more and see that based on their spending, they are in danger of overdrafting. To make sure they have all the important information, they can see the key factors contributing to an overdraft and a summary of recent transactions.

This next card helps inform users how to improve their credit score by keeping their credit utilization at 30% or less. This insight was designed to help educate users to learn more about their credit score. Providing helpful nudges like this positions your institution as their financial advocate by helping them learn more about achieving their goals. Because they've aggregated their liabilities, they have all of the relevant information at their fingertips, and can see that one of their cards is reaching that threshold, which triggered the overdraft insight. Taking that a step further, since the user has aggregated this particular account, they can also drill into those account details and view what they've spent on interest on that particular card.

This is where our marketing capabilities come into play and help you guide users to make better financial decisions, really building that relationship of trust with the user as they rely on you for insight into their financial lives. With the marketing cards, you can design a campaign for user segments that promote your offerings.

In this example, we've targeted users that have a particular interest rate and card and can now serve them targeted offers to transfer that balance to your organization by opening a new account.

This is just the beginning of how MX Insights can help you offer a more personalized money experience to your users. We have dozens of prebuilt insights from subscription tracking to surfacing potentially fraudulent transactions.

If you're interested in getting a more detailed walkthrough, please fill out the form on this page. A member of our team will reach out to discuss how MX can help you improve adoption and engagement with MX Insights.