Destinee Day-Cassidy
Apr 13 2 min read

Revolutionize Your Financial Institution's Digital Transformation

Revolutionize Your Financial Institution's Digital Transformation

Digital transformation is a critical goal for financial institutions

looking to remain competitive in today's fast-paced digital world. With the rise of fintech and the increasing demand for digital solutions, financial institutions need to embrace digital transformation to stay relevant and meet customer expectations. It is up to you to solve it. But how do you start such a daunting task?

Look no further than Finotta’s seamlessly integrated solution - the Personified Platform.  Personified is an embedded customer experience platform for banks and credit unions that generates revenue while also improving customers’ financial wellness. Finotta’s Personified Platform is the one-stop-shop to help financial institutions with digital transformation efforts, genuinely making their physical branch digital. 

Here are a few ways that Personified assists financial institutions with their digital transformation:

1. Improve Customer Experience

One of the critical benefits of Finotta's Personified Platform is its ability to provide users with a comprehensive view of their finances. Finotta can help users better understand their spending habits, cash flow, and financial goals by integrating with users' bank accounts, credit cards, and investment accounts.

For financial institutions, this means that they can offer their customers a more personalized and engaging experience. As a result, financial institutions can build stronger relationships with customers and increase loyalty by providing them with guidance and recommendations to help them optimize their finances.

2. Streamline Operations

Personified can also help financial institutions streamline operations by driving savings account openings through an FI’s digital channel and therefore reducing acquisition costs. Within the first week of use, Personified can decrease the marketing acquisition costs for new savings accounts by 86%. 

When financial institutions are able to acquire new accounts at a lower cost, profits readily increase thanks to streamlined operations. Customers require different levels of convincing to open a new account, and their lifetime values will vary, creating the need to discover efficient ways to reduce acquisition costs for your FI. By driving down costs and time spent acquiring new accounts, Personified is a goldmine for operational savings.

3. Drive Revenue Growth

Finally, Finotta's Personified can help financial institutions drive revenue growth by providing opportunities for cross-selling and upselling. By offering customers personalized recommendations for financial products and services, financial institutions can increase their share of wallet and drive revenue growth.

Finotta's Personalized Financial Guidance technology used in the Personified Platform can help financial institutions with their digital transformation efforts by improving customer experience, streamlining operations, and driving revenue growth. 



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