CASE STUDY - MACU 01

KEY STATS TO CONSIDER40% + AdoptionAfter switching to MX, MACU reached adoption rates of more than 40% in just 5 months – a 1,200% increase vs. their old solution.

2X External Accounts Being Added DailyAfter integrating the MX mini widget into their homepage, the # of external accounts being added daily more than doubled.

500% + Increase in External AccountsWithin 5 days after pre-loading all users, MACU saw more than a 500% increase in the # of external accounts being added.

SITUATIONFinding the Right Partner

In early 2012 Mountain America Credit Union (MACU) was searching for a new partner in digital money management (DMM). Unhappy with their previous solution, they knew they could do better – and owed it to their account holders to provide a superior solution that would really help them manage their money.

MACU's old solution had not met expectations with adoption rates of less than three percent and no mobile capabilities. MACU knew they had to find the right partner that put the user experience first and could deliver an immersive and engaging solution that made the experience delightful for account holders.

It didn't take long for MACU to find MX and see that they were different. Impressed with their award winning user interface (UI) and user experience (UX), MACU knew they had found the right partner, someone that was rapidly innovating in the space by understanding what matters most – the user experience.

After visiting MX headquarters and being as impressed with the company as the products they'd seen, MACU was excited to sign on.

The MX platform is much more than just a standard "check-the-box" solution.

Mountain America Credit Union

CASE STUDY

in 3 Years in 5 Months

Previous Provider

ADOPTION % COMPARISON

less than 3%

40% +

After switching to MX, MACU saw adoption rates increase by more than 1,200% in just 5 months.

CASE STUDY - MACU02

REACHING HIGHERIncreased Engagement + ROI

The true gains, however, came when MACU integrated My Money Manager directly into the homepage of online banking. Rather than placing the product in a separate tab, they now show users a breakdown of their spending immediately upon signing in.

Once the MX mini widget was fully integrated into their homepage, the number of external accounts being added daily more than doubled, with the total number rising by 18%. In addition, the number of users seeing the product within online banking each month went up by a factor of six, and active users saw the product 10.9 times per month, up from 5.8.

TAKING ACTIONLaunching the MX Platform

MACU decided to private-label the solution so they could call it their own. To this end, they branded MX under the label My Money Manager, which allowed MACU to get all the brand value.

Before launching My Money Manager, MX provided three on-site trainings and two webinar trainings for management and front-line employees. On top of this, MACU led numerous in-house trainings, as well as other tech trainings and strategy sessions. As a result, MACU employees learned how My Money Manager fit into their overall goal and could champion the software.

At product release Rob Cummings, SVP of Online Banking at MACU, said that “with just a glance, My Money Manager gives account holders a clear picture of exactly how their funds are being used.” He added, “By aggregating all of a user’s account information under one roof, My Money Manager positions us as a partner with the account holder to support them in reaching their goals and showing them how Mountain America products and services can help.”

In just five months after launch, My Money Manager saw adoption rates of more than 40 percent — a 1,200% increase compared to their old solution.

INTEGRATED WIDGETSEPARATE TAB

HomepageView

AUTO LOAN$9,295.06

CREDIT CARD$4,535.29

5421 4598 5687 12365421 4598 5687 1236

Members started adding even more external accounts into My Money Manager once it was available on the home page...more than double.

Last 30 Days

Total Amount

$3,477.52

External Credit Cards 13%External Mortgages 12%External Checking 9%

After seamlessly integrating MX into their homepage, MACU saw immediate increases in the following:

afterbefore

External Savings 8%External Loans 8%

HomepageView

Source: Internal MX Data via Insight

CASE STUDY - MACU 03

HOW MACU DID IT...... and how you can do it too

Today, MACU experiences more engagement with their digital channels and products than ever before. Their account holders use My Money Manager to check all of their balances at any institution where they have banking relationships via MACU’s online and mobile banking platforms. Users can also see all their transactions from all their accounts automatically categorized, and they have full access to engaging financial tools like bubble budgets, debt management, and a net worth tracker.

Due to the success they experienced, MACU decided to pre-load all users onto the platform in an effort to foster even more engagement. This meant that every account holder that logged into online or mobile banking would be enrolled in My Money Manager and immediately be able to see and interact with the the spending widget. The decision paid off as MACU saw the number of external accounts being added increase by more than 500% within five days of implementation.

Through implementing the MX platform, MACU has transformed their online and mobile banking platform into a central financial hub for account holders — and have quickly become their primary financial institution. Being the primary financial institution carries enormous benefits. As more users sign into MACU instead of the competition to see their full account data, MACU has more cross-selling opportunities. Because each user is pre-loaded into My Money Manager, MACU has access to a full range of aggregate and anonymized data.

MACU is leveraging this data to grab more wallet share by directly presenting users with contextual offers at the right time. In short, by pre-loading all users and leveraging aggregated data MACU is at the forefront of a customer-centric banking model.

Best of all, MACU is now fully equipped to appeal to the account holders most likely to use financial management, which, as Javelin Research shows, are the most profitable account holders of all.

after

By pre-loading all users and leveraging aggregated data MACU is at the forefront of a customer-centric banking model.

Want to learn more about what MX can do for you?

GIVE US A CALL: 801.669.5500

“Moneyhawks are the most profitable customers that we see and study. They’re the hungriest for new technology, and they’re also the first ones to say, “if it’s not good enough at my bank, I’ll go look elsewhere.”

- Mark Schwanhausser, Javelin Research

MX.com

Partner with MX to deliver an immersive and engaging experience that includes: award-winning UI/UX, reliable account aggregation and accurate auto-categorization. Seamlessly integrate an MX mini widget into the homepage of online banking for increased adoption.

Pre-load all users for supercharged engagement and more external accounts.

By pre-loading all users and leveraging aggregated data MACU is at the forefront of a customer-centric banking model.