View these slides to see: - The importance of making digital money management the focus of a digital banking strategy - How digital money management solutions help customers better understand their financial situation - How to use context to help customers make better financial decisions through personalized advice - How MX helps users save and be paired with better financial products through its FinSmart program

2. The Personalization Of Digital
Money Management
Peter Wannemacher, Sr. Analyst
Forrester Research with MX Technologies
June 23, 2016

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Agenda
› The landscape today
› The power of personalization
› The challenges companies face

4. A set of integrated online and mobile tools
for money management, typically including
but not limited to account aggregation,
automatic transaction categorization, goal
setting, and forecasting.

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Forrester’s four components of DMM
Source: Forrester Research

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Many customers are open to digital advice
Base: 4,527 US online adults
Source: Forrester’s North American Consumer Technographics Financial Services Survey, 2015
“How strongly do you agree or disagree with the statement
‘I trust digital finance advice’?”
Agree
22%
Middle
35%
Disagree
43%

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Most active DMM users are 25 to 45
Base: US online adults who use at least one digital money management tool (via a financial provider or a third-party app/site
Source: Forrester’s North American Financial Services Online Benchmark Recontact Survey, 2015

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Higher-income folks over-index on DMM
Base: US online adults who use at least one digital money management tool (via a financial provider or a third-party app/site
Source: Forrester’s North American Financial Services Online Benchmark Recontact Survey, 2015

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There are many money management tools
Sources: CIBC and USAA secure websites

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There are many money management tools
Sources: Koho, Meniga, and Albert smartphone apps and mobile sites

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There are many money management tools
Sources: PNC Virtual Wallet and MX Technologies

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Personalized banking has been lacking
Source: Capital One iPhone app

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Personalized banking has been lacking
Source: Forrester Research

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USAA offers personalized mobile apps
Source: USAA Savings Coach smartphone app

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The future of digital banking is context
Source: Forrester Research

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Firms face many substantial barriers
Source: Forrester Research. “The State Of Digital Money Management, 2015” report.

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Firms face many substantial barriers
Source: Forrester Research. “The State Of Digital Money Management, 2015” report.

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Firms face many substantial barriers
Source: Forrester Research. “The State Of Digital Money Management, 2015” report.

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Firms face many substantial barriers
Source: Forrester Research. “The State Of Digital Money Management, 2015” report.

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Firms face many substantial barriers
Source: Forrester Research. “The State Of Digital Money Management, 2015” report.

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Firms face many substantial barriers
Source: Forrester Research. “The State Of Digital Money Management, 2015” report.

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Firms will need to focus on foundational
digital initiatives…
Source: Forrester Research

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…this will involve re-engineering
Source: Forrester Research

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Digital money management capabilities
› Real-Time Data
› Data Visualizations
› Natural Language
Processing
› Recommendation Engine(s)
› External Account
Aggregation
› Predictive Analytics
› Game Mechanics
› Categorization Engine(s)
› APIs
› Machine Learning
› Alerts/Messaging
Capabilities

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Predictive analytics enable personalization

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Predictive analytics enable personalization
Source: Forrester Research, “Mobile Is The New Face Of Engagement” report.

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Predictive analytics enable personalization
Source: Forrester Research, “Mobile Is The New Face Of Engagement” report.

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Predictive analytics enable personalization
Source: Forrester Research, “Mobile Is The New Face Of Engagement” report.

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Predictive analytics enable personalization
Source: Forrester Research, “Mobile Is The New Face Of Engagement” report.

30. “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 at a US bank

31. forrester.com
Thank you
Peter Wannemacher
pwannemacher@forrester.com
@p_wannemacher

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Up Next:
Brennan from MX…

33. Presented by Brennan Knotts
Product Lead at MX
Personalization of
Digital Money Management

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MX Technologies ©
2016
Award
winning UI/UX
Open Platform
Industry Best
Categorization

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MX Technologies ©
2016
So
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MX FinSmart Personalization

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MX FinSmart Personalization

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What makes this possible?
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MX Technologies ©
2016
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What makes this possible?
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Data 3C’s
Transaction cleansing, categorization, classification.

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MX Technologies ©
2016
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What makes this possible?
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nAllows you to understand the users complete financial picture.
Data 3C’s
Transaction cleansing, categorization, classification.
Dynamic Targeting
The segment of users who see this message is always changing and updated in real-time with new data.

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MX Technologies ©
2016
So
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What makes this possible?
Aggregatio
nAllows you to understand the users complete financial picture.
Data 3C’s
Transaction cleansing, categorization, classification.
Dynamic Targeting
The segment of users who see this message is always changing and updated in real-time with new data.
Dynamic Messaging
To get the full value out of personalization, the message itself needs to be personalized for each user.

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MX Technologies ©
2016
So
What?Enter text here
What makes this possible?
Aggregatio
nAllows you to understand the users complete financial picture.
Data 3C’s
Transaction cleansing, categorization, classification.
Dynamic Targeting
The segment of users who see this message is always changing and updated in real-time with new data.
Dynamic Messaging
To get the full value out of personalization, the message itself needs to be personalized for each user.
Easy-to-Use Tools
If your digital and/or marketing teams are going to use personalization, it needs to be easy to setup and track.

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MX Technologies ©
2016
So
What?Enter text here
What makes this possible?
Aggregatio
nAllows you to understand the users complete financial picture.
Data 3C’s
Transaction cleansing, categorization, classification.
Dynamic Targeting
The segment of users who see this message is always changing and updated in real-time with new data.
Dynamic Messaging
To get the full value out of personalization, the message itself needs to be personalized for each user.
Easy-to-Use Tools
If your digital and/or marketing teams are going to use personalization, it needs to be easy to setup and track.
“Big Data” Marketing Platform
Including a data repository, hardware for storage, governance capabilities, data prep, etc.

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Future FinSmart Personalized Recommendations

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Moving Towards the Analytics Approach
Mergers & Acquisitions Traditional Marketing Retention, Utilization
& Held-away

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MX Technologies ©
2016

64. Mass Personalization
Mass personalization tied to permission-based
money movement is going to change this industry
so dramatically that we will not recognize it within
the next decade.
– Bradley Leimer, Head of Innovation, Santander
MX Technologies ©
2016

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Questions?