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How to Use PFM to Monitor Your Bank Accounts After a Data Breach

By Jon Ogden on Nov 1, 2017 3:36:08 PM

If you regularly follow the news, chances are that you've seen story after story about data breaches.

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MX Content Collection

By Jon Ogden on Nov 1, 2017 7:27:00 AM

The MX content collection contains all the information you need to know about the MX product suite, our internal teams, and our guiding philosophy.

See all MX videos here, and see the latest content here.

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Evansville Teachers FCU: 6x Balances Transferred, 3x More Credit Cards

By Jon Ogden on Oct 3, 2017 4:26:04 PM

Evansville Teachers Federal Credit Union (ETFCU) has always believed in a “people helping people” philosophy. As such, they’ve invested in digital money management (DMM) for years with the intent of improving their members’ financial well-being and maintaining user loyalty in the process.

In 2016, ETFCU learned that their digital money management product would be migrated to the MX platform. Since they’d seen good results with their prior DMM product, ETFCU was excited for the migration and the additional functionality they would gain with the new Money Management solution powered by MX.

They ended up being the first client to make this particular migration, and the results were impressive. Within two months, ETFCU saw a five-fold increase in total aggregated accounts and reached a 41% adoption rate with 21% of total Money Management users aggregating their accounts.

ETFCU was also able to put their money management product to better use by integrating it directly into the mobile experience (something they were unable to do until they integrated with MX). This opened up Money Management features to a range of mobile-first members and increased the appeal of the mobile experience at ETFCU, improving the likelihood that these users will stay loyal to the credit union.

In addition, ETFCU integrated the MX Insight & Target platform along with Discovered Accounts, resulting in a dramatic return on investment. For example, they used the fresh data gathered from Money Management to re-run a credit card campaign and brought in six times more balances transferred and three times more new credit cards than they had brought in previously — all because they were able to create hyper-personalized offers that got real results.

“It’s a testament to the information that we’re able to get out of Insight & Target,” Meaghan Elpers, VP of Operations said, “and it’s so very important to the service, to use that data to help our members, save them money, and move them toward our products and services.”

Finally, the migration to MX exceeded expectations. “We were preparing for an uptick in call volume and complaints after we made the switch,” Elpers said, “but the implementation was seamless.” She added, “We didn’t really see an increase in call volume, which is a testament to the usability of this financial tool.”

“We’re very happy with the MX experience,” Elpers said. “We want to live our philosophy of ‘people helping people,’ and MX and NCR’s Digital Insight solution allows us to do that. We can offer products and services to our members that save them money. We can compete with the big banks now that we have the data to gain insights into our members’ financial picture and really help them. Money Management and Insight & Target has allowed us to do that.”

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“It’s a testament to the information that we’re able to get out of Insight & Target. And it’s so very important to the service, to use that data to help our members, save them money, and move them toward our products and services.” - Meagan Elpers, VP of Operations

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UCCU Case Study: 28 percent adoption in three months

By Jon Ogden on Sep 28, 2017 4:15:13 PM

Utah Community Credit Union — UCCU successfully launched innovative Digital Money Manager by MX

Click here to read the PDF version of this case study.

When UCCU chose Q2 as a digital banking provider, they were excited at the prospect of integrating MX products directly into their online experience. They knew that an MX integration would give their members guidance in managing their finances, resulting in greater loyalty and an improved ability to attract new members.

Because they were already familiar with the benefits that MX would provide their users, UCCU knew they wanted to do a major promotion in launching the product. Brad Norton, SVP of Marketing at UCCU, created internal marketing materials and also leveraged MX for video assets to increase engagement from day one.

Norton said, “We didn’t want to bury this product in any way. Instead, we wanted to put it front and center — showing our members what they could accomplish with it, getting them to really envision how this can inspire smart decisions, and help change their financial habits for the better.”

The promotion paid off. Within three months, 28 percent of UCCU members had adopted digital money management, and 17 percent of those users had added external accounts at an average of 4.1 accounts each. This means that these users are signing into UCCU to view all their finances in one place (and, by implication, becoming less and less likely to sign into UCCU’s competitors to do so). As a result, UCCU is quickly proving themselves as the primary financial institution in their region.

Norton added, “From integration to launch and beyond, we’ve been very pleased with the experience of working with MX. We couldn’t be happier with the fact that so many of our members have started getting their financial lives in order. This partnership brings us exactly what we’re looking to deliver to our members & we are really excited about it.”

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BECU Case Study: 18 Months on Helios

By Jeff Meredith on Aug 4, 2017 3:17:49 PM

Read the PDF version of this case study here.

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Data-Driven Money Management Brings Solid Revenue

By Jon Ogden on Jul 31, 2017 10:23:06 AM

The debate about personal financial management (PFM) continues to evolve, and last week it took a notable step forward.

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AFCU Case Study: Helios

By Jon Ogden on Jul 28, 2017 10:00:00 PM

 

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Case Study: Travis Credit Union Adoption Numbers

By Jon Ogden on Jul 26, 2017 5:21:19 PM

Click here to read the PDF version of this case study.

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Case Study: MX Training at MACU

By Samantha Easter on Jul 26, 2017 9:58:34 AM

 

Key Stats

 

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FinStrong Case Study: Park Sterling Bank

By Jon Ogden on Jul 10, 2017 1:49:52 PM

Click here for the PDF version of this case study.

 

Park Sterling, a bank with branches in North Carolina, South Carolina, Georgia and Virginia more than $3.3 billion in assets, has successfully rolled out an innovative financial education course for internal employees and partner companies.

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