Leveraging PFM to Enhance the Customer Experience

Leveraging PFM to Enhance the Customer Experience

January 25, 2017
Ruthann Paulin

In today’s technology centered world, consumers want and need their financial life to be digitized. Digital touchpoints are increasingly used to manage finances, so it makes sense that financial institutions meet these needs head on and with powerful tools that enhance their experience.

Personal Financial Management (PFM) enhances the overall banking experience and drives a deeper online and offline relationship. Aside from helping you drive digital banking adoption, PFM lets you know who your customer is and where they are in their life’s journey. No digital banking experience or strategy is complete without PFM.

Financial institutions have an unprecedented opportunity to redefine the banking experience and re-establish what genuine value they can provide their customers. By getting to know them through their goals, needs, and ambitions, you can redefine the banking experience and restore what banking means for your customers.

How does your PFM solution empower customers?

Having a Personal Financial Management solution offers your account holders the tools that can help them become more financially competent. If they can manage their household accounts, cashflow, budgets, and goals in one place, under one roof, they get a higher sense of control and therefore a feeling of confidence. Once they have this feeling of financial confidence, or at least knowledge of where they stand, you’ll be in a better place to put them on the right track. One of your goals is clearly retention. PFM no doubt offers a high level of financial empowerment and thereby a stronger connection between your brand and the consumer, and this drives loyalty.

Listen to what consumers tell you via the digital world


PFM provides your FI a new ability to engage consumers in a digital world. With more transactions moving to digital channels, now, more than ever before, you must engage your audience online.

Financial marketers must now gain insights from consumer’s digital activities, so enhancing the online banking experience with PFM makes complete sense. Aside from providing a more holistic online banking experience, the incorporated data analysis gives you a more relevant view of consumer needs. Account aggregation lets you and the consumer stay in “sync” by incorporating the transactions and analysis of other financial institutions. The engagement platform provided in Geezeo PFM provides crucial information facilitating better service to customers, because it gives you the ability to engage like never before. You can prove you are “listening” to the data by suggesting product and services that are very much in line with specific consumer needs.

The dynamics of retail banking have shifted, requiring financial institutions to identify and leverage new and better ways of engaging customers. Financial institutions must identify and adopt customer-centric initiatives to improve engagement and deliver a stronger, more relevant experience. Financial institutions can address many challenges by leveraging personal financial management solutions that allow customers to manage their finances and achieve financial goals, all while improving customer acquisition and retention.

Let Us Help You


If you need suggestions on how to get the most of your PFM, a Geezeo Client Success Manager or Marketing Liaison is more than happy to assist you.