From Wasted Data to Maximized Intelligence: MX Product Updates

Today’s banks and credit unions all struggle with the same thing: how to tap into and leverage data in a way that delivers true value. In fact, a senior leader at a large bank known for being innovative recently shared that they aren’t able to correlate the data they have to the relationships of their users — meaning they can’t use that data at all to support marketing efforts and business decisions. 

Let that sink in for a minute. A commissioned study from Forrester Consulting found that 62% of data leaders at financial organizations say they still largely use data the same way they always have. Is your organization making this data mistake? 

Today, MX shared its latest product updates that are laser-focused on helping financial providers leverage data more effectively. You can watch the full Product Forum. Or, read on for a quick recap of 3 new product updates:

1. MX’s new engagement tool, Message, coupled with our embedded integrations enables you to seamlessly find and act on data — and immediately leverage it within your segmentation flows, campaigns, and tools. Message is the next evolution of our Customer Analytics solution, enabling you to take identified segments and quickly act on them.

Nearly every organization has shown us a complicated diagram of how they’re piecing disparate data sources together across different tools to try and create relevant marketing and messaging. With MX’s Customer Analytics and Message, those days are almost done. Now, you can leverage world-class data, clear segmentation, and unified data sets and messaging with this functionality. 

2. MX is helping to streamline consent management workflows, bolster compliance efforts, and create better user experiences with new Consent Management and Alerting within our Data Access product. This new feature enables institutions and intermediaries to be alerted anytime a user revokes consent of data. 

The webhooks will alert you and connected intermediaries the moment consent is changed, ensuring that the intermediary deletes the consumer’s data and stops subsequent requests. This update creates an incredibly powerful foundation of user events and triggers that we’ll be announcing in subsequent weeks. 

3. This last update goes back to the foundation of MX. It’s the largest update in our company’s history to our longest-standing personal financial management (PFM) tool. Our newly designed Manage Money Dashboard makes your ability to personalize and serve your customers easier than ever before.

From cash flow and upcoming activities to a clear spending overview and personalized insights widget, this dashboard serves as the hub for consumers to understand day-to-day interactions with their finances. And, the Insights feature automatically generates alerts based on personal spending behaviors that give consumers timely guidance on what actions will help them improve their financial health.