- Open finance company MX introduced Customer Analytics for financial services providers this week.
- Customer Analytics leverages enhanced transaction data and actionable consumer insights to help financial services companies increase deposits and customer engagement.
- Lehi, Utah-based MX is a multiple-time Finovate Best of Show winner.
Open finance innovator MX introduced Customer Analytics for financial services providers this week. The new offering uses enhanced transaction data and actionable consumer insights to enable financial services providers to grow deposits and boost engagement. Customer Analytics helps these firms spot opportunities for cross-selling and secure greater ROI on their marketing efforts. The technology also helps financial services companies better anticipate and mitigate customer churn.
“Financial services providers have a tough assignment when it comes to piecing together disparate data to truly understand their customers and meet their needs,” MX Chief Product Officer Nandita Gupta said. “MX’s Customer Analytics takes out the guesswork by providing actionable financial data intelligence in a single source.”
Customer Analytics provides a set of intelligent models, dashboards, and tools to analyze both consumer-permissioned and enhanced transaction data. These tools can be readily embedded into marketing platforms and CRMs to help organizations get a more holistic view of their customers’ finances. This helps financial services providers improve customer segmentation and conduct more effective marketing initiatives.
Since its Finovate debut in 2012 (as Money Desktop), MX has won Finovate’s Best of Show award eight times. The Lehi, Utah-based fintech helps financial services providers and other organizations connect and verify account and transaction data. This enables them to uncover insights that can lead to new revenue streams, as well as better, more personalized money experiences for consumers. Founded in 2010, MX most recently demoed its technology on the Finovate stage at FinovateFall in 2021. Jim Magats is CEO. Ryan Caldwell is Founder and Executive Chair.