CSI, a leading provider of end-to-end financial software and technology, is reporting multiple successes out of its financial wellness offerings among community bank customers and industry partners.
As community and regional financial institutions seek to grow revenue and retain account holders, financial wellness products and holistic financial guidance have proven to drive engagement. A recent J.D. Power survey noted that 76% of customers who receive financial advice take action. The same survey noted that 60% of customers under 40 recall receiving financial advice from their bank.
“Offering financial education tools is essential to our customers’ ability to achieve long-term success,” said Allison Maddock. “Our goal is to empower banks to offer personalized financial guidance that resonates with their communities and keeps account holders engaged.”
Dedicated to empowering its community with sustainable financial habits, Citizens First Bank in Clinton, Iowa, recently launched its “CF Bee” accounts for teens and tweens. Powered by CSI’s NuPoint core banking platform, Citizen First’s CF Bee accounts are designed to drive smart savings habits early, encouraging children and teens to embrace good banking habits, grow their savings accounts and strive for financial independence. Through this technology, parents can monitor their child’s spending patterns and help instill financial literacy at a young age.
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“By providing our youth with the right tools and knowledge to manage their finances effectively, we are investing in the future of our community,” said Carrie Donaire. “The CF Bee accounts are more than just a product—it’s a step towards fostering financial responsibility and independence among the next generation.”
In early 2024, CSI launched My Credit Manager, a fully integrated solution that streamlines the credit management process for account holders—including credit scoring, reporting and analytics. In partnership with Array, My Credit Manager gives customers a 360-degree financial view within CSI’s digital banking platform. The fully integrated solution supports customers on their path to financial wellness with more than 20 embedded credit tools, including targeted offers, personal data protection and a credit simulator to show how their score is affected by certain actions.
“We’ve seen notable adoption among our user base since we launched the solution in February 2024,” said Gregory Hayes. “Our clients enjoy the tools the solution provides, particularly the Score Simulator, which helps them understand the impact different decisions may have on their credit score. We are proud to be able to continue helping our clients improve their financial wellness through tools like My Credit Manager.”
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Source – CSI
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