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Jeff Meredith, Director of Analyst Relations
February 9, 2017
Forrester Briefing
MX Technologies © 2016
For financial institutions that want to become
true advocates for their end users, MX developed a
revolutionary category of data-driven money
management that combines a world-class user
experience with the power of analytics.
Year In Review
Year In Review
MX Technologies © 2016
The 3C’s
MX Technologies © 2016
The 3C’s: Cleansing, Classification & Categorization
• Between March and November 2016, MX migrated away from Intuit, utilizing partners such as
Finicity, CashEdge and its own connections to achieve a higher level of reliability than any
aggregation provider
• The market is quickly realizing this
MX Technologies © 2016
MX offers the option to code to a real-time version of MDX.
Whereas older APIs like OFX can only pull data, the real-time
version of MDX can push data immediately. This way users
will see transactions appear from any aggregated
account right after those transactions occur. Real-time
functionality is where the world is going and this feature is a
key differentiator for MX.
From Batch to Real-Time
MX Technologies © 2016
Our first implementation of PFM was working on a
batch process. We were uploading data at night. If
you want to provide effective and accurate hints to
customers, you need real-time data. You must be
providing feedback in real-time.
– Head of eBusiness
Aggregation Can Still Be Frustrating For Users
The Market Is Flooded With Poor User Experiences
Both the Delta
Sky Miles card
and Chase
card have
existing
balances that
do not appear
on this screen
Discovered Accounts
MX Technologies © 2016
Innovative UX / UI
MX Technologies © 2016
Accounts
A single view of a user’s internal accounts
(“held”) and external accounts (“held away”)
• Users can change the account name, account
type, interest rate, credit limit, original
balance, and account purpose
MX Technologies © 2016
MX Technologies © 2016
Budgets
A visualization of a user’s data on a monthly
basis
• Users can change the account name, account
type, interest rate, credit limit, original
balance, and account purpose
MX Technologies © 2016
MX Technologies © 2016
The Importance of UI: Which Account is Over Budget?
MX Technologies © 2016
MX Technologies © 2016
The Value of Digital Money Management
Mountain America Credit Union wanted to know what would
happen to a savings account when someone became a user of
MX’s data-driven money management (DMM) tools and
contrast that with a non-user over a four month period (August-
November 2015). Users increased their savings rate by 18
percent in that time frame while non-users demonstrated a
2 percent decrease in savings — a difference of 20
percent.
Savings activity within a financial institution carries an
advantage over emerging third party apps. A savings app like
Digit doesn’t pay customers interest on their money, extracting
what would’ve been earned as a fee. In contrast, customers of
institutions like Mountain America get to keep that interest.
MX Technologies © 2016
Advocacy Platform
MX Technologies © 2016
MX Technologies © 2016
MX Technologies © 2016
MX Technologies © 2016
“Financial institutions that use insights
gained from money management to
deliver more relevant offers or
personalized marketing messages
should be able to cross-sell more
effectively and increase the average
number of accounts per customer.”
- Forrester Research
MX Technologies © 2016
Amazing
Odosjamie – Mar 18, 2016
This app is the bees knees. … It is so convenient to be able to deposit checks,
move money, and check your balance all at the palm of your hand. It’s quick
easy and secure. A true lifesaver sometimes.
Love this app
K_yokes – Mar 15, 2016
I don’t know any other bank that has an app with this much depth. I can set
budgets for spending and it alerts me when I am close to going over, I can see
a breakdown of what I have spent money on (i.e. shopping, food, travel, etc)
and I have set it to send alerts to my phone for larger purchases to better keep
track of any fraud that may occur. Love this app!!
BECU's app, powered by MX,
received recognition from both the
Financial Brand and MagnifyMoney
in December. BECU appeared as
the most improved app in
MagnifyMoney's third annual
Mobile Banking App Study, which
compiles the iOS and Android
banking app ratings from over 100
of the biggest credit unions and
banks.
MX Technologies © 2016
BECU Implementation of Helios: Eight Months of Success
• 28.4% increase in mobile users
• 138.6% increase in bill pay
• 79% increase in users aggregating
external accounts
• 78% increase in external accounts
• 11.9% increase in remote deposit
completion
• 14.6% increase in check deposits
• 36.6% increase in transfers
MX Analyst Deck

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MX Analyst Deck

  • 1. Jeff Meredith, Director of Analyst Relations February 9, 2017 Forrester Briefing
  • 2. MX Technologies © 2016 For financial institutions that want to become true advocates for their end users, MX developed a revolutionary category of data-driven money management that combines a world-class user experience with the power of analytics.
  • 5. MX Technologies © 2016 The 3C’s
  • 6. MX Technologies © 2016 The 3C’s: Cleansing, Classification & Categorization
  • 7.
  • 8.
  • 9. • Between March and November 2016, MX migrated away from Intuit, utilizing partners such as Finicity, CashEdge and its own connections to achieve a higher level of reliability than any aggregation provider • The market is quickly realizing this
  • 10. MX Technologies © 2016 MX offers the option to code to a real-time version of MDX. Whereas older APIs like OFX can only pull data, the real-time version of MDX can push data immediately. This way users will see transactions appear from any aggregated account right after those transactions occur. Real-time functionality is where the world is going and this feature is a key differentiator for MX. From Batch to Real-Time
  • 11. MX Technologies © 2016 Our first implementation of PFM was working on a batch process. We were uploading data at night. If you want to provide effective and accurate hints to customers, you need real-time data. You must be providing feedback in real-time. – Head of eBusiness
  • 12. Aggregation Can Still Be Frustrating For Users
  • 13. The Market Is Flooded With Poor User Experiences Both the Delta Sky Miles card and Chase card have existing balances that do not appear on this screen
  • 15.
  • 16. MX Technologies © 2016 Innovative UX / UI
  • 17. MX Technologies © 2016 Accounts A single view of a user’s internal accounts (“held”) and external accounts (“held away”) • Users can change the account name, account type, interest rate, credit limit, original balance, and account purpose
  • 19. MX Technologies © 2016 Budgets A visualization of a user’s data on a monthly basis • Users can change the account name, account type, interest rate, credit limit, original balance, and account purpose
  • 21. MX Technologies © 2016 The Importance of UI: Which Account is Over Budget?
  • 23. MX Technologies © 2016 The Value of Digital Money Management Mountain America Credit Union wanted to know what would happen to a savings account when someone became a user of MX’s data-driven money management (DMM) tools and contrast that with a non-user over a four month period (August- November 2015). Users increased their savings rate by 18 percent in that time frame while non-users demonstrated a 2 percent decrease in savings — a difference of 20 percent. Savings activity within a financial institution carries an advantage over emerging third party apps. A savings app like Digit doesn’t pay customers interest on their money, extracting what would’ve been earned as a fee. In contrast, customers of institutions like Mountain America get to keep that interest.
  • 24. MX Technologies © 2016 Advocacy Platform
  • 28. MX Technologies © 2016 “Financial institutions that use insights gained from money management to deliver more relevant offers or personalized marketing messages should be able to cross-sell more effectively and increase the average number of accounts per customer.” - Forrester Research
  • 29. MX Technologies © 2016 Amazing Odosjamie – Mar 18, 2016 This app is the bees knees. … It is so convenient to be able to deposit checks, move money, and check your balance all at the palm of your hand. It’s quick easy and secure. A true lifesaver sometimes. Love this app K_yokes – Mar 15, 2016 I don’t know any other bank that has an app with this much depth. I can set budgets for spending and it alerts me when I am close to going over, I can see a breakdown of what I have spent money on (i.e. shopping, food, travel, etc) and I have set it to send alerts to my phone for larger purchases to better keep track of any fraud that may occur. Love this app!!
  • 30. BECU's app, powered by MX, received recognition from both the Financial Brand and MagnifyMoney in December. BECU appeared as the most improved app in MagnifyMoney's third annual Mobile Banking App Study, which compiles the iOS and Android banking app ratings from over 100 of the biggest credit unions and banks.
  • 31. MX Technologies © 2016 BECU Implementation of Helios: Eight Months of Success • 28.4% increase in mobile users • 138.6% increase in bill pay • 79% increase in users aggregating external accounts • 78% increase in external accounts • 11.9% increase in remote deposit completion • 14.6% increase in check deposits • 36.6% increase in transfers

Editor's Notes

  1. Good morning, my name is XXXXXX I work for MX based in Utah.
  2. And this is where MX comes in. We focus on developing world class solutions that are powerful, easy to use and harness the power of analytics.
  3. The MX architecture is incredibly unique with its patented multi-source aggregation router, best-in-class categorization, cleansing and categorization, top of the line security and built to scale for decades to come.
  4. The world’s best interface is useless if the connection is lost. Most data providers utilise a single source of data . MX has multiple data sources as well as our own direct data feeds. The MX Hydra deploys intelligent multisource routing so if one feed is down (Broken connection or FI policy) it dynamically reroutes to a different feed. The MX approach also insures you against alternative aggregators who are 100% reliant on a single data provider that may stop operating (for example Intuit) .
  5. And this is where MX comes in. We focus on developing world class solutions that are powerful, easy to use and harness the power of analytics.
  6. And this is where MX comes in. We focus on developing world class solutions that are powerful, easy to use and harness the power of analytics.
  7. The user can quickly and easily add their complete financial life using drop down menus andthen the first time enter passwords and security answers . Easy.
  8. MX believes that the successful FIs will be those who are true advocates for their users and the MX advocacy engine allows you to start doing that,
  9. Leading to better, more relevant, highly accurate and personalized advice from financial institutions
  10. We are DELIGHTING consumers. We encourage you to listen to the voice of the customer or member . At BECU we are generating an AMAZING perfect 5 stars as their customers learn how easy and powerful the MX solution is. Powerful, Good looking and easy to use. Please read the hundreds of amazingly positive comments on the app pages.