Pioneer Bank Turns Financial Transactions into Customer Connections
Pioneer Bank is a leader in the banking industry with 22 branches throughout upstate New York. Pioneer had recently gone through a complete rebrand, including a newly designed website, and wanted to know if its efforts were successfully reaching a younger demographic.
To more effectively understand and reach its customers, Pioneer needed a comprehensive solution that gave in-depth insights into who its customers are, and actionable data that enabled the bank to enhance and grow its product offering.
Pioneer Bank selected the Personal Finance solution from FIS because it offered advanced capabilities that weren’t available in any other provider. Using the Personal Finance solution 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. Through advanced cleansing and categorization, Pioneer Bank gained meaningful insights into what accounts its customers actively use and insights into their purchasing habits.
With Personal Finance, we see an opportunity to empower our customers and add real value to their relationship with us. This technology offers a fully integrated digital banking experience that is user- friendly and can help customers see their financial progress.
Tom Amell
President and CEO, Pioneer Bank
With the Personal Finance solution, Pioneer Bank was able to see that 58% of its customers’ top external loan accounts were predominantly student loans. The data-backed insights allowed Pioneer to reassess its own offerings to create products that better aligned with customers’ needs while making the bank more competitive in the marketplace. Further, the bank discovered that 35% of its Personal Finance users are engaging with the platform within mobile banking, reaffirming the need to keep its mobile strategy top of mind.
Overall, leveraging the insights gained, Pioneer Bank was able to build targeted customer segments and campaigns that increased the success of its marketing efforts.
Pioneer Bank’s Personal Finance solution is fully powered by MX’s market-leading technology, enabling end-users to become financially stronger while increasing top-line growth for FIS partners.
With the Personal Finance solution from FIS, Pioneer Bank gained the customer insights it needed to better target and serve their customers with the right message and product at the right time. The bank also saw high initial adoption and engagement within the platform. And in just a few months, Pioneer Bank saw incredible results.
“For our customers, this is a way for them to see their entire financial picture from one place. For us, the power of the data will help us produce relevant and timely marketing campaigns which will increase adoption of our other products and services. Ultimately, this will lead to loyal customer advocates.” — Samantha Burrington, Project Management Officer, Pioneer Bank
growth in users within one quarter
of users engaging regularly with the platform
MX simplifies personal financial management (PFM) for consumers from connecting all of their accounts in one place, to best-in-class digital money management capabilities, to proactive, personalized financial insights.
Explore how MX can help you get the most from financial data and build better money experiences for consumers.