Travis CU rolls out digital money management tools from MX

Source: MX

Travis Credit Union, the 14th largest credit union in California with $2.8 billion in assets, has once again demonstrated its strong commitment to its 189,000 members by offering digital money management tools powered by MX.

On September 15 Travis CU launched MYINSIGHT, a digital money management tool allowing members to see all of their accounts in one place, visualize budgets, track spending, set goals and prioritize the paydown of debts.

The response from members has been tremendous. Within six weeks Travis reported 93 percent adoption, over 700,000 member visits to its spending widget — revealing spending across various categories such as home, food & entertainment — and the aggregation of over 8,000 external accounts. Members have begun looking at their financial picture across all institutions — checking and savings accounts, credit cards, auto loans and mortgages — with Travis serving as the hub. Active users averaged 16.3 sessions across the first six weeks of implementation.

"We wanted to provide an engaging tool that allows members to take control of their finances and simplify their lives," said Navneet Khanna, executive vice president of Travis Credit Union. "We're delighted that our members are not just trying out MYINSIGHT but gaining insights that help improve their financial lives."

The success of MYINSIGHT was made possible by digital, social and in-branch messaging which was initiated before launch and sustained after. Visitors to the Travis CU website were asked if they ever wondered how much they spent on shopping or groceries. Ads highlighting money management widgets — such as spending and debts — appeared with a call to action button encouraging members to enroll in online banking so they could take advantage of these features. In-branch signage, promotional items and training videos loaded on branch iPads also increased awareness around MYINSIGHT.

"Marketing and customer education play such a crucial role in driving adoption of money management tools," said MX CEO Ryan Caldwell. "We're delighted to be working with Travis Credit Union and to see that their members are using MYINSIGHT to propel themselves to greater financial strength."

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