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Lodo Software launches PFM cross-selling tool

01 February 2011  |  2422 views  |  0 Source: Lodo Software

Lodo Software, a provider of personal financial management (PFM) software for banks and credit unions, today launched the FI Dashboard, a cross-selling tool purpose-built to work with the company's OurCashFlow PFM solution.

The FI Dashboard uses information captured by Lodo's PFM to target those customers who are ripe for a particular marketing offer. The company introduced the new product in a demonstration today at FinovateEurope in London, an event that showcased the latest in financial technology innovation.

Lodo CEO Mark Vipond said, "Consumers want help managing their money, and banks are ideally positioned to be the trusted providers of that support. We're committed to helping financial institutions launch PFMs that drive customer loyalty as well as incremental revenue through smarter cross-selling. That's the purpose of the FI Dashboard."

Lodo's Dashboard captures enriched data about PFM users including assets, accounts, transactions, budgets, savings goals and spending activity. The software organizes and analyzes the information, allowing financial institutions to precisely target the customers who are most appropriate to receive a product or service offer. For example, a bank marketing manager can set the FI Dashboard to send a weekly message during February that promotes a CD to people who hold more than $10,000 in their savings account. Or they can send a one-time message about mortgage refinancing to high net worth customers whose current mortgage interest rates are greater than 6 percent.

An online wizard guides users through the simple steps to create each marketing campaign, defining schedules, ad content and links to more information. Promotional messages can be set up for delivery via the PFM dashboard or email. The FI Dashboard tracks how many end-users view each message and the number who click through for more information, validating reach and response rates for every campaign.

Lodo's OurCashFlow PFM is designed to be bank-branded and hosted, adopting the look and feel of existing web sites. Its standard features - monitoring account balances and transactions, categorizing spending and net worth, creating and managing budgets - can be grouped within a tab or embedded as standalone functions within online banking sites. The software includes multicurrency and multilanguage support and can be operated by a single institution or by a bank holding company on behalf of multiple institutions, each presenting a unique look and feel.

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